Bullboard - Stock Discussion Forum Leon's Furniture Ltd T.LNF

Alternate Symbol(s): LEFUF

Leon's Furniture Limited is a Canada-based retailer of furniture, appliances and electronics in Canada. The Company operates in two segments: Leon’s and The Brick, which operates in the business of the sale of home furnishings, mattresses, appliances and electronics in Canada. Its retail banners include Leon’s, The Brick, Brick Outlet and The Brick Mattress Store. It operates six e-commerce... see more

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TSX:LNF - Post Discussion

Leon's Furniture Ltd > Record Financial Result of $3.1 B in Total System Wide Sales

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Post by Betteryear2 on Feb 23, 2022 2:46pm

Record Financial Result of $3.1 B in Total System Wide Sales

TORONTO, Feb. 23, 2022 /CNW/ - Leon's Furniture Limited ("LFL" or the "Company") (TSX: LNF), today announced record financial results for the year ended December 31, 2021.

Financial Highlights – year ended December 31, 2021

On a year to date basis as compared to prior year:

Total system wide sales increased 13.2% to a record $3.1 billion.
Achieved record revenue of $2.5 billion, an increase of $292.5 million or 13.2%.
Same store sales(1) increased by 13.6%.
Adjusted EBITDA(1) increased by 16.5% to $401.2 million
Net income increased by 26.9% to $207.2 million.
Adjusted diluted earnings per share(1) grew by 27.5% to $2.60 from $2.04 in the prior year.
Opened 4 new stores in the year, 2 new corporate stores and 2 franchise stores comprised of 1 Leon's banner store and 3 Brick banner store locations.
The Company generated approximately $300 million in free cash flow(1).
The Company returned $210.6 million to its shareholders in the form of dividends declared and common share repurchases as compared to $118.1 million in the prior year.
Available and unrestricted liquidity is approximately $613.6 million which is made up of the Company's $486.6 million in cash and investments and $127 million in undrawn credit facilities as at December 31, 2021.