Last C$6.29 CAD
Change Today 0.00 / 0.00%
Volume 0.0
DL On Other Exchanges
Symbol
Exchange
Toronto
OTC US
As of 4:10 PM 01/26/15 All times are local (Market data is delayed by at least 15 minutes).

danier leather inc (DL) Snapshot

Open
C$6.29
Previous Close
C$6.29
Day High
C$6.29
Day Low
C$6.29
52 Week High
02/3/14 - C$11.45
52 Week Low
12/15/14 - C$4.79
Market Cap
24.2M
Average Volume 10 Days
238.8
EPS TTM
C$-2.46
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
Chief Financial Officer, Executive Vice-Presi...
Total Annual Compensation: C$279.7K
Executive Vice-President of Retail Operations
Total Annual Compensation: C$265.9K
Chief Sourcing Officer and Vice President
Total Annual Compensation: C$229.7K
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. Announces Unaudited Consolidated Financial Results for the First Quarter Ended September 27, 2014; Announces Impairment Loss on Property and Equipment

Danier Leather Inc. announced unaudited consolidated financial results for the first quarter ended September 27, 2014. Sales during the first quarter of fiscal 2015 decreased by 15% to $20.6 million compared with CAD 24.2 million during the first quarter last year. Comparable store sales decreased by 18% compared to the same period last year. Sales were affected by some of the same factors discussed in the company's 2014 Annual Report, including increased promotional activity to reduce past season inventory, a competitive retail environment and a lack of "newness" in the product assortment, all of which resulted in a 13% decrease in customer traffic during the first quarter of fiscal 2015 as compared to the same period last year. The seasonal net loss of approximately CAD 5.9 million during the first quarter of fiscal 2015 increased by approximately CAD 2.3 million compared with the net loss of CAD 3.6 million during the first quarter last year. At the end of first quarter of fiscal 2015, the company had a book value of CAD 11.05 per outstanding share. LBITDA was CAD 6,652,000 against CAD 4,096,000 for the same period of last year. Adjusted LBITDA was CAD 7,068,000 against CAD 3,518,000 for the same period of last year. Loss before income taxes was CAD 7,460,000 against CAD 5,012,000 for the same period of last year. Net loss per diluted share was CAD 1.54 against CAD 0.93 for the same period of last year. Net cash used in operating activities was CAD 14,668,000 against CAD 13,452,000 for the same period of last year. Acquisition of property and equipment was CAD 955,000 against CAD 2,591,000 for the same period of last year. Acquisition of computer software was CAD 88,000 against CAD 448,000 for the same period of last year. For the quarter, the company announced impairment loss on property and equipment was CAD 615,000.

Danier Leather Inc. Appoints Thomas Haig as Interim Chief Operating Officer

Danier Leather Inc. announced that Mr. Thomas Haig has been appointed for a fixed term as interim Chief Operating Officer of the company effective immediately. Mr. Haig will report to Mr. Jeffrey Wortsman, President and Chief Executive Officer of Danier, and work closely with him over the coming months to accelerate and improve execution of the Company's previously-stated strategic plan. Mr. Haig will continue to serve on the Board of Directors, a position he has held since August 2013, but has relinquished his roles on the company's Audit Committee and its Governance, Compensation, Human Resources and Nominating Committee. Mr. Haig has been a senior executive in the retail industry for over 25 years and has extensive international and Canadian experience in fashion, merchandising and marketing, including expertise in retail store operations, real estate and asset optimization. Mr. Haig will use his skills and extensive retail and business experience to assist in improving the execution of Danier's strategic plan. Mr. Haig previously held the position of President, Fashion and Footwear of M.H. Alshaya Group.

Danier Leather Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Fiscal Year Ended June 28, 2014; Reports Impairment Loss for the Fourth Quarter of 2014

Danier Leather Inc. announced unaudited consolidated earnings results for the fourth quarter and fiscal year ended June 28, 2014. For the quarter, the company reported revenue was CAD CAD 24,709,000 compared to CAD 28,369,000 for the same period a year ago. Loss before income taxes was CAD 9,397,000 compared to CAD 3,715,000 for the same period a year ago. Net loss and comprehensive loss was CAD 6,680,000 or CAD 1.74 per diluted share compared to net loss of CAD 2,652,000 or CAD 0.69 per diluted share for the same period a year ago. Adjusted LBITDA was CAD 6,823,000 compared to CAD 3,565,000 for the same period a year ago. Net cash used in operating activities was CAD 494,000 compared to net cash generated from operating activities of CAD 2,848,000 for the same period a year ago. Acquisition of property and equipment was CAD 1,132,000 compared to CAD 628,000 for the same period a year ago. Acquisition of computer software was CAD 59,000 compared to CAD 674,000 for the same period a year ago. LBITDA was CAD 8,132,000 compared to CAD 2,805,000 for the same period a year ago. Comparable store sales over the same time frame were decreased by 16%. Company sales during the fourth quarter influenced the extremely cold and long winter resulted in the company having insufficient quantities of heavily-lined winter coats to meet customer demand during the prolonged winter season. The ice storms in all of Eastern Canada also reduced customer traffic to Danier's stores during the traditionally peak holiday selling season. The majority of the decrease in sales and profit occurred during the last half of the fiscal year. This was caused by a combination of factors, including a compressed spring selling season due to the unusually long winter, higher than anticipated fall and winter inventory levels, a reduction in the amount of spring inventory purchases compared with the prior year, a spring assortment that lacked certain colours and styles desired by customers, and a promotional strategy that proved to be less effective than anticipated. As a result, gross profit margin decreased as the company was required to implement larger discounts during the last half of the fiscal year than is typical in order to clear built-up inventory. For the year, the company reported revenue was CAD CAD 141,930,000 compared to CAD 154,995,000 for the same period a year ago. Loss before income taxes was CAD 10,794,000 compared to earnings before income taxes of CAD 1,981,000 for the same period a year ago. Net loss and comprehensive loss was CAD 7,663,000 or CAD 2.00 per diluted share compared to net earnings of CAD 1,411,000 or CAD 0.33 per diluted share for the same period a year ago. Adjusted LBITDA was CAD 4,569,000 compared to adjusted EBITDA of CAD 5,381,000 for the same period a year ago. Net cash used in operating activities was CAD 4,907,000 compared to net cash generated from operating activities of CAD 6,752,000 for the same period a year ago. Acquisition of property and equipment was CAD 4,972,000 compared to CAD 4,498,000 for the same period a year ago. Acquisition of computer software was CAD 1,107,000 compared to CAD 829,000 for the same period a year ago. LBITDA was CAD 6,545,000 compared to EBITDA of CAD 5,357,000 for the same period a year ago. The fiscal 2014 net loss and poorer results as compared to the corresponding periods last year are due to the lower sales, reduced gross profit and increased SG&A, all as discussed above, as well as the continuing challenging retail environment. Book value was CAD 12.56 per outstanding share. The company also reported impairment loss on property and equipment of CAD 510,000 for the fourth quarter of 2014.

 

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