These retailers have market presence

Article Excerpt

LEON’S FURNITURE LTD. $15.04 (Toronto symbol LNF; TSINetwork Rating: Average) (416-243-7880;; Shares outstanding: 76.4 million; Market cap: $1.2 billion; Dividend yield: 3.7%) has steadily increased the number of stores under its Leon’s banner from 27 in 2003 to today’s 86. In March 2013, the company nearly quadrupled in size with its $700 million purchase of The Brick, its main rival. That chain now has 218 locations across Canada and still operates separately. In the three months ended September 30, 2018, Leon’s overall sales fell 0.5%, to $592.3 million from $595.4 million a year earlier. On a same-store basis, sales fell 1.6%. The company earned $34.3 million in the latest quarter, down 0.4% from $34.4 million. Earnings per share fell 6.3%, to $0.45 from $0.48, on more shares outstanding. The declines were due to overall weakness in consumer spending in the Ontario market. Meanwhile, Leon’s has migrated all of its online stores to a Shopify platform. The company reports that as a result of the move it…

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