Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, November 19, 2010

Article Excerpt

LEON’S FURNITURE LTD. $13.45, symbol LNF on Toronto, reported that its sales fell 4.2% in the three months ended September 30, 2010, to $179.5 million from $187.4 million a year earlier. Earnings per share rose 18.2%, to $0.26 from $0.22. The stronger Canadian dollar was the main reason why Leon’s earnings rose despite the lower sales. The higher dollar cuts the cost of furniture the company imports. Leon’s was also able to lower some of its other costs. Right now, the company owns 39 of its stores, and franchisees operate 28. Leon’s plans to speed up its expansion by opening roughly five new stores a year over the next five years. The company has just opened a new 73,000-square-foot store in Thunder Bay, Ontario. It has also started construction of a new 84,000-square-foot store in Regina, Saskatchewan. As well, it plans to open stores in Guelph, Ontario, and Rosemere, Quebec, by the end of this year. Leon’s is also renovating…