La Senza achieves strong brand performance

30 Mar '06

3 min read

Montreal based specialty retailer La Senza Corporation reported net earnings of $17.7 million or $1.30 per share for the year ended January 28, 2006 (fiscal 2006) compared to net earnings of $81,000 or $0.01 per share for the year ended January 29, 2005 (fiscal 2005).

Excluding losses from discontinued operations related to the closure of the Company's U.S. operation, earnings from continuing operations amounted to $19.7 million or $1.44 per share for fiscal 2006 compared to $7.6 million or $0.57 per share for fiscal 2005.

Earnings from continuing operations before income taxes and discontinued operations increased by 27.7 percent from $14.1 million to $18.1 million in the fourth quarter.

After giving effect to an adjustment in income taxes resulting from previously unrecognized losses in the fourth quarter of fiscal 2005, the Company achieved the same $11.3 million earnings from continuing operations in the fourth quarter of each fiscal year or $0.82 per share for fiscal 2006 and $0.84 per share for fiscal 2005.

In the fourth quarter of fiscal 2005, the Company sustained a loss from discontinued operations in the amount of $4.6 million. In the fourth quarter of fiscal 2006, the Company posted net earnings of $11.3 million or $0.82 per share compared to net earnings of $6.8 million or $0.50 per share for the fourth quarter for fiscal 2005.

Sales for the year ended January 28, 2006 amounted to $410.9 million compared to sales of $354.9 million for the year ended January 29, 2005, an increase of 15.8 percent. Sales for the fourth quarter of fiscal 2006 amounted to $133.4 million compared to sales of $115.4 million for the fourth quarter of fiscal 2005, an increase of 15.5 percent.

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