Danier Leather says ice storms, power outages drove down Q2 sales, profit

TORONTO – Danier Leather Inc. says bad weather and power failures in Eastern Canada have had a chilling effect on its sales and profit.

The Toronto-based leathergoods retailer and manufacturer had $62 million of sales in the quarter ended Dec. 28.

That’s down from $66.1 million in sales a year earlier, while comparable-store sales dropped seven per cent.

Danier says outerwear products, which include its leather coats, had the biggest sales decline.

Its net income fell 18 per cent to $6.7 million from $8.4 million and its earnings per diluted share dropped to $1.73 from $1.86.

Danier (TSX:DL) says customer traffic was down during the quarter due to ice storms and related power failures.