News

Danier Leather reports third-quarter loss compared with profit a year ago

TORONTO – Danier Leather Inc. (TSX:DL) said Wednesday it lost $883,000 in its latest quarter compared with a profit a year ago.

The company said the loss amounted to 23 cents per diluted share for the quarter ended March 30 compared with a profit of $395,000, or eight cents per diluted share, a year ago.

Sales in what was the company’s third quarter slipped to $37.4 million, down from $39.1 million.

Danier said comparable store sales fell six per cent compared with a year ago due to the timing of Boxing Week.

Last year, the busy post-holiday period was included in the third quarter, compared with this year when it occurred in its second quarter.