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Strategies & Market Trends : Strictly: Drilling II

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To: Frank Pembleton who wrote (189)	8/19/2001 8:41:30 AM
From: Frank Pembleton	Read Replies (1) of 36161

Canada escapes U.S. furniture slump Leon's doesn't 'see any doom and gloom ahead' Peter Brieger Financial Post, with files from Bloomberg News Leon's Furniture Ltd.'s profit dropped 7% in its second quarter, but the retailer said yesterday that it's holding up well in the face of a softening economy, unlike some of its U.S. counterparts. Several furniture retailers in the United States, including Ethan Allen Interiors Inc. (ETH/NYSE), Furniture Brands International Inc. (FBN/NYSE) and Stanley Furniture Co. (STLY/NASDAQ), have reported sagging sales as cash-strapped consumers choose to throw money at new homes instead of leather couches. Toronto-based Leon's (LNF/TSE), meanwhile, said it hasn't been hit by the same phenomenon, as its second-quarter sales rose 2% to $93.3-million from $91.5-million a year earlier. Net income was $6.3-million (31¢ a share) compared to $6.7-million (33¢) in the second quarter of 2000 -- something the company blames primarily on new store openings. nationalpost.com ETH/NYSE finance.yahoo.com FBN/NYSE finance.yahoo.com STLY/NASDAQ finance.yahoo.com LNF/TO finance.yahoo.com ------------------------------------------- July housing sales drop 2% from June Crea not worried: 'We are still doing better than last year' Garry Marr Financial Post The resale housing market took a hit last month as the number of sales dropped 2% from June but the Canadian Real Estate Association says the decline is nothing to worry about. "It's in the eye of the beholder. We are still doing better than last year," said Gregory Klump, senior economist with CREA. nationalpost.com

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