• Q2 profit jumps 30.1% to CAD8.5m
  • Sales climb 2% to CAD70.6m
  • Same-store sales up by 6%

Second quarter profit at Danier Leather Inc has risen by nearly a third thanks to higher sales and lower markdowns at the Toronto-based leather-goods retailer.

Net earnings in the three months to 26 December jumped 30.1% to CAD8.5m (US$8.1m) or CAD1.44 per share, up from CAD6.5m or CAD1.05 per share a year earlier.

Sales for the quarter rose 2% to CAD70.6m from CAD69.1m last time, and comparable store sales were up by 6%.

Gross profit margin increased by 6.4% to 54.4% from 48.0%, which was due to a stronger Canadian dollar, reduced markdowns and improved merchandise planning and purchasing.