Last C$9.03 CAD
Change Today +0.21 / 2.38%
Volume 200.0
DL On Other Exchanges
Symbol
Exchange
Toronto
OTC US
As of 4:00 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

danier leather inc (DL) Snapshot

Open
C$9.03
Previous Close
C$8.82
Day High
C$9.03
Day Low
C$9.03
52 Week High
10/22/13 - C$12.62
52 Week Low
08/14/14 - C$8.81
Market Cap
34.8M
Average Volume 10 Days
1.0K
EPS TTM
C$-1.94
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. is engaged in the design, manufacture, and retail of fashion leather and suede apparel and accessories for men and women in Canada. The company offers a range of garments and accessories, including coats, jackets, blazers, pants, skirts, dresses, sweaters, tops, vests, handbags, gloves, wallets, scarves, belts, hats, briefcases, laptop cases, casual bags, and other travel and business accessories under the Danier brand and Blink label. As of June 29, 2013, it operated a total of 89 retail locations comprising 60 shopping mall stores, 2 street-front stores, and 27 power centre stores. The company, formerly known as Royal Leather Goods Limited, was founded in 1972 and is headquartered in Toronto, Canada.

Founded in 1972

danier leather inc (DL) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$515.0K
Chief Financial Officer, Executive Vice-Presi...
Total Annual Compensation: C$273.5K
Chief Sourcing Officer and Vice President
Total Annual Compensation: C$229.7K
Executive Vice-President of Retail Operations
Total Annual Compensation: C$116.0K
Compensation as of Fiscal Year 2013.

danier leather inc (DL) Key Developments

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.

Danier Leather Inc., Q4 2014 Earnings Call, Aug 14, 2014

Danier Leather Inc., Q4 2014 Earnings Call, Aug 14, 2014

 

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