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Last C$3.03 CAD
Change Today 0.00 / 0.00%
Volume 0.0
DL On Other Exchanges
Symbol
Exchange
OTC US
As of 4:10 PM 08/25/15 All times are local (Market data is delayed by at least 15 minutes).

danier leather inc (DL) Snapshot

Open
C$3.03
Previous Close
C$3.03
Day High
C$3.03
Day Low
C$3.03
52 Week High
09/8/14 - C$9.09
52 Week Low
02/11/15 - C$2.97
Market Cap
11.7M
Average Volume 10 Days
330.0
EPS TTM
C$-2.90
Shares Outstanding
2.6M
EX-Date
08/21/06
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for DANIER LEATHER INC (DL)

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danier leather inc (DL) Details

Danier Leather Inc. designs, manufactures, and retails fashion leather and suede apparel and accessories for women and men in Canada. The company offers outerwear and sportswear products, including jackets, skirts, shirts, pants, sweat shirts, dresses, leggings, tops, minis, joggers, tanks, T-shirts, sweaters, blouses, blazers, and tunics, as well as provides applicator clothes, and leather cleaning wipes and rejuvenators. It also offers leather accessories, such as handbags, wallets, gloves, scarves, belts, briefcases, laptop cases, and other travel and business accessories under the Danier brand. As of August 14, 2014, it operated 90 shopping mall, street-front, and outlet stores under the Danier brand, as well as danier.com online store. The company was formerly known as Royal Leather Goods Limited. Danier Leather Inc. was founded in 1972 and is headquartered in Toronto, Canada.

1,193 Employees
Last Reported Date: 09/5/14
Founded in 1972

danier leather inc (DL) Top Compensated Officers

Chief Executive Officer, President and Non-In...
Total Annual Compensation: C$526.6K
Executive Vice-President of Retail Operations
Total Annual Compensation: C$265.9K
Executive Vice President of Merchandising, So...
Total Annual Compensation: C$212.3K
Compensation as of Fiscal Year 2014.

danier leather inc (DL) Key Developments

Danier Leather Inc. Enters into Third Amended and Restated Credit Agreement with its Existing Lender Canadian Imperial Bank of Commerce

Danier Leather Inc. announced that it has entered into a third amended and restated credit agreement with its existing lender Canadian Imperial Bank of Commerce ('CIBC'), which converts the Company's existing operating and revolving credit facilities into a senior secured asset-based revolving credit facility with CIBC. The ABL Facility has an initial term of three years, extending the maturity of Danier's facilities to August 27, 2018. The ABL Facility provides an initial commitment of up to $35 million, which will reduce to $28.5 million if the Company sells its head office location, which sale the Company is pursuing as part of its strategic and operating plans. As part of that commitment, the Credit Agreement provides for the issuance of letters of credit up to a sub-limit of between $5 million and $10 million, depending on the time of year, and foreign exchange contracts to hedge against the Company's U.S. dollar exposure, subject to a specified sub-limit. Borrowings under the ABL Facility are subject to a borrowing base calculated by reference to the Company's eligible accounts receivable, inventory and real property, less availability reserves, priority payables and an availability block calculated in accordance with the Credit Agreement. The Company's obligations under the Credit Agreement are guaranteed by its material subsidiaries and secured by all of the Company's and its material subsidiaries' present and after-acquired personal property, as well as a mortgage over the land and building comprising the Company's head office location. The Company pays a monthly collateral management fee to CIBC in respect of the ABL Facility, and will also pay fees for any unused portion of the facility, as well as interest and certain other fees in respect of letters of credit and other borrowings under the ABL Facility. The ABL Facility is subject to various financial and other covenants, reporting requirements and restrictions that, if breached, could cause a default and may result in the requirement for immediate repayment of all amounts outstanding under the ABL Facility, as well as other rights and remedies of CIBC. The Company intends to use the ABL Facility to fund its working capital requirements and for general corporate purposes. The company's obligations under the Credit Agreement are guaranteed by its material subsidiaries and secured by all of the Company's and its material subsidiaries' present and after-acquired personal property, as well as a mortgage over the land and building comprising the Company's head office location. The Company pays a monthly collateral management fee to CIBC in respect of the ABL Facility, and will also pay fees for any unused portion of the facility, as well as interest and certain other fees in respect of letters of credit and other borrowings under the ABL Facility. The ABL Facility is subject to various financial and other covenants, reporting requirements and restrictions that, if breached, could cause a default and may result in the requirement for immediate repayment of all amounts outstanding under the ABL Facility, as well as other rights and remedies of CIBC. The Company intends to use the ABL Facility to fund its working capital requirements and for general corporate purposes.

Danier Leather Inc. Announces Executive Changes

Danier Leather Inc. announced that Bryan Tatoff, its Chief Financial Officer, has informed the company that he will be resigning to pursue other opportunities. Mr. Tatoff will remain in his current role through July 24, 2015 to facilitate an orderly transition. The company has appointed Brent Houlden to assume the role of Interim Chief Financial Officer. Mr. Houlden has extensive retail strategy and operations expertise with deep financial skills. During his 26 years as a partner of Deloitte LLP, Mr. Houlden held various senior leadership positions, including building Deloitte’s Consulting and Financial Advisory practices as well as leading its retail practice in Canada.

Danier Leather Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 28, 2015; Announces Impairment Loss on Property and Equipment for the Third Quarter Ended March 31, 2015

Danier Leather Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended March 28, 2015. For the quarter, the company announced revenue of CAD 26,295,000 compared to CAD 31,011,000 for the same period a year ago. Loss before income taxes was CAD 5,476,000 compared to CAD 5,711,000 for the same period a year ago. Net loss and comprehensive loss was CAD 4,136,000 compared to CAD 4,286,000 for the same period a year ago. Net loss per share, basic and diluted was CAD 1.07 compared to CAD 1.12 for the same period a year ago. Net cash used in operating activities was CAD 7,536,000 compared to CAD 7,520,000 for the same period a year ago. Acquisition of property and equipment was CAD 146,000 compared to CAD 215,000 for the same period a year ago. Acquisition of computer software was CAD 54,000 compared to CAD 116,000 for the same period a year ago. LBITDA was CAD 4,651,000 compared to CAD 4,694,000 for the same period a year ago. Adjusted LBITDA was CAD 4,406,000 compared to CAD 4,225,000 for the same period a year ago. The decrease in net loss was mainly due to reduced SG&A. For the nine months, the company announced revenue of CAD 102,577,000 compared to CAD 117,221,000 for the same period a year ago. Loss before income taxes was CAD 8,701,000 compared to CAD 1,397,000 for the same period a year ago. Net loss and comprehensive loss was CAD 6,578,000 compared to CAD 983,000 for the same period a year ago. Net loss per share, basic and diluted was CAD 1.71 compared to CAD 0.26 for the same period a year ago. Net cash used in operating activities was CAD 9,920,000 compared to CAD 4,413,000 for the same period a year ago. Acquisition of property and equipment was CAD 2,699,000 compared to CAD 3,840,000 for the same period a year ago. Acquisition of computer software was CAD 306,000 compared to CAD 1,048,000 for the same period a year ago. LBITDA was CAD 6,186,000 compared to EBITDA of CAD 1,587,000 for the same period a year ago. Adjusted LBITDA was CAD 6,415,000 compared to adjusted EBITDA of CAD 2,254,000 for the same period a year ago. Year-to-date decrease in revenue mainly relates to the Fall and Winter merchandise assortment which lacked sufficient quantities of longer length winter-weight leather and non-leather jackets. The increase in net loss was mainly due to reduced sales and gross profit dollars. For the third quarter ended March 31, 2015, the company announced impairment loss on property and equipment of CAD 516,000 compared to CAD 153,000 for the same period a year ago.

 

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