Business
Leon's Furniture Limited - 2005 first quarter
Leon's Furniture Limited - 2005 first quarter.
About this update from Leon's Furniture Limited
[{"type":"text","content":"\n\n\n\n\nTORONTO, May 12 /CNW/ - For the three months ended March 31, 2005, sales\nwere $113,582,000 ($104,472,000 in 2004), an increase of 8.7% and net income\nwas $7,826,000, 43 cents per common share ($7,477,000, 40 cents per common\nshare in 2004), an increase of 7.5% per common share, all of which represented\na record for the first quarter. Total Leon's sales, including $34,485,000 of\nsales by franchisees ($31,647,000 in 2004), were $148,067,000 ($136,119,000 in\n2004).\nWe are pleased that we were able to improve our financial results in the\nfirst quarter of 2005 during a period of what has become a more difficult\nretail environment. Our strong capital position will allow us to focus on\ngrowing market share going forward, especially when combined with the efforts\nof our dedicated Associates across the country who continue to create a\npositive impression with our customers as they have for almost 100 years.\nAs previously announced, we paid a quarterly 20 cents dividend on\nApril 6, 2005. Today we are happy to announce that the Directors have declared\na quarterly dividend of 20 cents per common share payable on the 8th day of\nJuly 2005 to shareholders of record at the close of business on the 8th day of\nJune 2005.\nOur renovation and expansion plans will continue during 2005. We have\njust completed a very successful major renovation to our Windsor, Ontario\nstore. Further major renovations of existing stores in Calgary, Alberta;\nWinnipeg, Manitoba; Kitchener, Ontario; and Halifax, Nova Scotia, are\ncurrently planned to begin this year. We will, as well, open new stores in\nHamilton, Ontario and Quebec City, Quebec this summer. Construction of\nadditional new stores is scheduled to start soon in Saskatoon, Saskatchewan\nand Vaughan, Ontario. We have also secured properties in Newmarket, Ontario\nand the South Shore of Montreal for future stores.\n\n\n","length":27031,"tagName":"div"}]