LFL, Canada's Largest Home Retailer, Releases Financial Results for the Third Quarter Ended September 30, 2023, and Has Increased Its Dividend by 12.5%
LFL, Canada's Largest Home Retailer, Releases Financial Results for the Third Quarter Ended September 30, 2023, and Has Increased Its Dividend by 12.5%
Toronto, Ontario--(Newsfile Corp. - November 8, 2023) - Leon's Furniture Limited (TSX: LNF) ("LFL" or the "Company"), today announced financial results for the quarter ended September 30, 2023.
安大略省多倫多--(Newsfile Corp.-2023 年 11 月 8 日)-萊昂傢俱有限公司 (TSX: LNF) (”LFL“或者”公司“),今天公佈了截至2023年9月30日的季度財務業績。
Financial Highlights - Q3-2023
財務摘要-Q3-2023
All comparisons are made to Q3-2022 unless otherwise indicated
除非另有說明,否則所有比較均與 Q3-2022 進行
- Revenue for the third quarter 2023 was $661.0 million, comparable to the prior year quarter, despite continued macro-economic challenges.
- Gross profit margin in the quarter decreased 188 basis points to 44.04%.
- Adjusted net income(1) for the quarter totaled $51.7 million, a decrease of 12.7%.
- Adjusted diluted earnings per share(1) of $0.75, a decrease of 13.8%.
- Reduced inventory levels to $430 million, down $72 million or 14.3% from the prior year.
- Cash provided by operating activities was $107.6 million for the third quarter in comparison to $49.3 million in the prior year quarter reflecting the strong cash flow generation of the business.
- The Company received $20 million in proceeds in connection with CURO Intermediate Holdings' sale of Flexiti to Questrade.
- The Company repaid $50 million in long-term debt during the period.
- At September 30, 2023, unrestricted liquidity was $385.1 million, comprised of cash, cash equivalents, debt and equity instruments and the undrawn revolving credit facility.
- 儘管宏觀經濟挑戰持續存在,但2023年第三季度的收入仍爲6.610億美元,與上一季度持平。
- 該季度的毛利率下降了188個點子,至44.04%。
- 調整後淨收益(1) 該季度的總額爲5,170萬美元,下降了12.7%。
- 調整後的攤薄後每股收益(1) 爲0.75美元,下降13.8%。
- 庫存水平降至4.3億美元,比上年下降7200萬美元,下降14.3%。
- 第三季度經營活動提供的現金爲1.076億美元,而去年同期爲4,930萬美元,這反映了該業務產生的強勁現金流。
- 該公司因CURO Intermediate Holdings向Questrade出售Flexiti而獲得了2000萬美元的收益。
- 該公司在此期間償還了5000萬美元的長期債務。
- 截至2023年9月30日,無限制流動性爲3.851億美元,包括現金、現金等價物、債務和股權工具以及未提取的循環信貸額度。
LFL's Board of Directors approved the Company's resolution to create a Real Estate Investment Trust (REIT) via initial public offering (IPO). The timing is subject to prevailing market conditions and receipt of required regulatory approvals.
LFL董事會批准了公司通過首次公開募股(IPO)創建房地產投資信託基金(REIT)的決議。時機視當前市場狀況和獲得所需的監管批准而定。
Third Quarter - 5 Year Financial Performance of LFL
第三季度——LFL的5年財務業績
(1) For a full explanation of the Company's use of non-IFRS and supplementary financial measures, please refer to the sections of this press release with the headings "Non-IFRS Financial Measures" and "Supplementary Financial Measures."
(1) 有關公司使用非國際財務報告準則和補充財務指標的完整解釋,請參閱本新聞稿中標題爲 “非國際財務報告準則財務指標” 和 “補充財務指標” 的章節。
Mike Walsh, President and CEO of LFL commented, "During Q3, the combination of lower cost inventory and targeted marketing enabled us to drive sales momentum while balancing gross margin within an acceptable range. We saw an increase in year-over-year written order activity that has continued early into Q4. We also expect to see better leverage on our operating costs over the next two quarters despite higher ongoing retail point-of-sale finance costs. The third quarter was another example of the strong cash flow generation of the business. We are focused on investing to ensure the company is positioned to both grow share as the consumer environment improves, while generating value for shareholders by paying down debt."
邁克·沃爾什,LFL 總裁兼首席執行官 評論說:“在第三季度,較低成本的庫存和有針對性的營銷相結合,使我們能夠推動銷售勢頭,同時在可接受的範圍內平衡毛利率。我們看到書面訂單活動同比增長,這種增長一直持續到第四季度初。儘管零售銷售點融資成本持續增加,但我們還預計,在接下來的兩個季度中,我們的運營成本槓桿率將有所提高。第三季度是該業務產生強勁現金流的又一個例子。我們專注於投資,以確保公司能夠隨着消費環境的改善而增加份額,同時通過償還債務爲股東創造價值。”
Mr. Walsh continued, "We are in the early stages of surfacing the significant underlying value in the Company's assets, as we look for additional pathways to better leverage our scale into value for shareholders. The value realized by the company on CURO's sale of Flexiti to Questrade is just one example of the additional returns we can generate by partnering with parties that access our scale, and we see the opportunity for meaningful synergies with Questrade moving forward."
沃爾什繼續說:“我們正處於揭露公司資產重大潛在價值的初期階段,我們正在尋找其他途徑,以更好地利用我們的規模爲股東創造價值。該公司通過CURO向Questrade出售Flexiti而實現的價值只是我們通過與可獲得我們規模的各方合作可以獲得額外回報的一個例子,我們認爲未來有機會與Questrade產生有意義的協同效應。”
The Board of Directors of LFL also announces that Mark J. Leon has chosen to retire as Chairman of the Board effective the end of 2023. He will continue to sit on the Board and assume the title of Chairman Emeritus. Mark J. Leon, Chairman of LFL issued the following statement, "It has been an honour to serve as the Chairman of Leon's for over 20 years. I am humbled by the faith, loyalty and trust that has been accorded to me by our Company associates, management teams and our Board of Directors. Also, I would be remiss if I didn't acknowledge the unyielding support over many years from the entire Leon family. My heartfelt gratitude goes out to each and everyone one of them. Our Board has decided that Terrence Leon will assume the role of Chairman and Edward Leon will serve as Vice Chairman. For many years, Terrence and Edward have both demonstrated a fervent desire to increase our company's growth and shareholder value. We have every confidence that Leon's will continue to prosper under their stewardship. Our CEO, Mike Walsh and our CFO, Costa Pefanis, lead a truly capable management team. There is no denying we believe the best is yet to come. May God bless this truly great and iconic Canadian success story with continued good fortune."
LFL董事會還宣佈,馬克·萊昂已選擇退休董事會主席一職,自2023年底起生效。他將繼續擔任董事會成員並擔任名譽主席一職。 LFL 主席馬克·萊昂 發表了以下聲明:“擔任萊昂董事長20多年是一種榮幸。我對公司員工、管理團隊和董事會給予我的信心、忠誠和信任感到謙卑。另外,如果我不感謝整個萊昂家族多年來的不屈不撓的支持,那我就失職了。我衷心感謝他們中的每一個人。我們的董事會已決定,泰倫斯·萊昂將擔任董事長,愛德華·萊昂將擔任副董事長。多年來,泰倫斯和愛德華都表現出增加公司增長和股東價值的熱切願望。我們完全相信,Leon's將在他們的領導下繼續蓬勃發展。我們的首席執行官邁克·沃爾什和首席財務官科斯塔·佩法尼斯領導着一支真正有能力的管理團隊。不可否認的是,我們相信最好的還在後頭。願上帝保佑這個真正偉大而具有標誌性的加拿大成功故事,持續好運。”
Terrence Leon, Vice Chairman of LFL made the following comment, "Mark Leon is a truly inspirational leader for our Company and our family. His strength, wisdom, goodwill and humility are examples we can only hope to emulate. There are no words that can adequately show our deep appreciation for all that he has done, but on behalf of all of us who you have touched, thank you Mark."
泰倫斯·萊昂, LFL 副主席 發表了以下評論:“對於我們公司和我們的家庭來說,馬克·萊昂是一位真正鼓舞人心的領導者。他的力量、智慧、善意和謙卑是我們只能希望效仿的例子。沒有任何言語可以充分表達我們對他所做的一切的深切感謝,但我代表所有你感動過的人,謝謝馬克。”
Summary financial highlights for the three months ended September 30, 2023 and September 30, 2022
截至2023年9月30日和2022年9月30日的三個月的財務摘要摘要
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(1) Refer to the non-IFRS financial measures section for additional information.
(2) Selling, general and administrative expenses ("SG&A").
(3) The Company received a $20 million one-time payment to settle the value of warrant rights negotiated as part of the original agreement with CURO.
(1) 有關更多信息,請參閱非國際財務報告準則財務指標部分。
(2) 銷售、一般和管理費用(“SG&A”)。
(3) 公司收到了2000萬美元的一次性付款,用於結算作爲與CURO最初協議的一部分談判的認股權證的價值。
Same Store Sales (1)
同店銷售 (1)
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(1) Refer to the supplementary financial measures section for additional information.
(1) 有關其他信息,請參閱補充財務措施部分。
Historical Same Store Sales (1) as previously reported based on comparable quarters
歷史同店銷售額 (1) 正如先前根據可比季度報告的那樣
Revenue
收入
For the three months ended September 30, 2023, revenue was $661.0 million compared to $662.2 million in the third quarter 2022. Revenue decreased $1.2 million or 0.2% as compared to the prior year quarter.
截至2023年9月30日的三個月,收入爲6.61億美元,而2022年第三季度爲6.622億美元。與上一季度相比,收入下降了120萬美元,下降了0.2%。
While the macro-economic environment continues to be challenging, the company saw improved consumer demand in the third quarter relative to the first half of the year that is expected to continue into the fourth quarter.
儘管宏觀經濟環境仍然充滿挑戰,但與上半年相比,該公司第三季度的消費者需求有所改善,預計上半年將持續到第四季度。
Same Store Sales (1)
同店銷售 (1)
Same store sales in the quarter decreased by 0.6% compared to the prior year's second quarter driven by factors discussed in the revenue section.
受收入部分討論的因素推動,本季度同店銷售額與去年第二季度相比下降了0.6%。
Gross Profit
毛利
The gross profit margin for the third quarter 2023 was 44.04% compared to 45.92% for the third quarter of 2022, a decrease of 188 basis points. The decline in the gross profit margin is driven by sales mix due to strong growth in the commercial business, higher promotional activity, along with comparing to an exceptionally strong performance in the third quarter of the prior year.
2023年第三季度的毛利率爲44.04%,而2022年第三季度的毛利率爲45.92%,下降了188個點子。毛利率的下降是由銷售組合推動的,這是由於商業業務的強勁增長,促銷活動的增加以及與去年第三季度異常強勁的表現相比。
Selling, General and Administrative Expenses ("SG&A")
銷售、一般和管理費用(“SG&A”)
The Company's SG&A as a percentage of revenue for the third quarter of 2023 was 35.96%, an increase of 268 basis points over the third quarter 2022. The Company's SG&A as a percentage of revenue for the current quarter increased primarily because of an increase in point-of-sale retail financing fees due to the continuing Bank of Canada interest rate increases and marketing spend to drive balance of year revenue.
該公司的銷售和收購佔2023年第三季度收入的百分比爲35.96%,比2022年第三季度增加了268個點子。該公司的銷售和收購佔本季度收入的百分比有所增加,這主要是由於加拿大銀行持續提高利率導致銷售點零售融資費用增加,以及推動年度餘額收入的營銷支出。
Adjusted Net Income (2) and Adjusted Diluted Earnings Per Share (2)
調整後淨收益 (2) 以及調整後的攤薄後每股收益 (2)
Adjusted net income for the quarter totaled $51.7 million, a decrease of $7.5 million over the prior year's quarter.
本季度調整後的淨收入總額爲5,170萬美元,比上年同期減少750萬美元。
The adjusted diluted earnings per share in the third quarter of 2022 was $0.87 per share, compared to $0.75 per share in the current quarter, a decrease of $0.12 per share or 13.8%.
2022年第三季度調整後的攤薄後每股收益爲0.87美元,而本季度的每股收益爲0.75美元,下降0.12美元,跌幅13.8%。
Net Income and Diluted Earnings Per Share
每股淨收益和攤薄後收益
Net income for the third quarter 2023 was $52.3 million, or $0.76 per diluted earnings per share as compared to $0.90 per diluted earnings per share recorded in the prior year's quarter, a decrease of $0.14 per share or 15.6% (net income of $61.3 million in the third quarter of 2022).
2023年第三季度的淨收益爲5,230萬美元,攤薄後每股收益爲0.76美元,而上一季度每股攤薄收益爲0.90美元,下降0.14美元,跌幅15.6%(2022年第三季度淨收益爲6,130萬美元)。
(1) Supplementary financial measure. Refer to section 14 in this MD&A for additional information.
(2) Non-IFRS financial measure. Refer to section 14 in this MD&A for additional information.
(1) 補充財務措施。有關其他信息,請參閱本 MD&A 中的第 14 節。
(2) 非國際財務報告準則財務指標。有關其他信息,請參閱本 MD&A 中的第 14 節。
Dividends
分紅
As previously announced, the Company paid a quarterly dividend of $0.16 per common share on 10th day of October 2023. Today the Directors have declared an increase in the quarterly dividend of $0.02 to $0.18 per common share payable on the 8th day of January 2024 to shareholders of record at the close of business on the 8th day of December 2023. In addition, the annual dividend on the convertible non-voting preferred shares of $0.32 will be payable on the 8th day of January 2024 to the shareholders of record at the close of business on the 8th day of December 2023. A. As of 2007, dividends paid by Leon's Furniture Limited are "eligible dividends" pursuant to the changes to the Income Tax Act under Bill C-28, Canada.
正如先前宣佈的那樣,該公司向10股普通股支付了每股普通股0.16美元的季度股息第四 2023 年 10 月的一天。今天,董事們宣佈將8股的季度股息增加到每股普通股0.02美元,至0.18美元第四 2024年1月8日營業結束時向登記在冊的股東致辭第四 2023 年 12 月的一天。此外,0.32美元的可轉換無表決權優先股的年度股息將於2024年1月8日支付給2023年12月8日營業結束時的登記股東。答:根據加拿大C-28號法案對《所得稅法》的修改,自2007年起,萊昂傢俱有限公司支付的股息是 “合格股息”。
Outlook
外表
Given the Company's strong and continuously improving financial position, our principal objective is to increase our market share and profitability. We remain focused on our commitment to effectively manage our costs but to also continuously invest in the business to drive growth initiatives that will drive more customers to both our online eCommerce sites and our 303 store locations across Canada.
鑑於公司的財務狀況強勁且持續改善,我們的主要目標是增加我們的市場份額和盈利能力。我們仍然專注於有效管理成本的承諾,同時也要持續投資該業務以推動增長計劃,這將吸引更多客戶訪問我們的在線電子商務網站和我們在加拿大的303家門店。
Non-IFRS Financial Measures
非國際財務報告準則財務指標
The Company uses financial measures that do not have standardized meaning under IFRS and may not be comparable to similar measures presented by other entities. The Company calculates the non-IFRS financial measures by adjusting certain IFRS measures for specific items the Company believes are significant, but not reflective of underlying operations in the period, as detailed below:
公司使用的財務指標在國際財務報告準則下不具有標準化含義,可能無法與其他實體提出的類似指標進行比較。公司通過調整某些國際財務報告準則指標來計算非國際財務報告準則財務指標,這些指標涉及公司認爲重要但不能反映該期間基礎業務的特定項目,詳情如下:
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Adjusted Net Income
調整後淨收益
The Company calculates comparable measures by excluding the effect of changes in fair value of derivative instruments, related to the net effect of USD-denominated forward contracts. The Company uses derivative instruments to manage its financial risk in accordance with the Company's corporate treasury policy. Management believes excluding from income the effect of these mark-to-market valuations and changes thereto, until settlement, better aligns the intent and financial effect of these contracts with the underlying cash flows.
公司通過排除衍生工具公允價值變動的影響來計算可比指標,這與以美元計價的遠期合約的淨影響有關。根據公司的公司財政政策,公司使用衍生工具來管理其財務風險。管理層認爲,在結算之前,將這些按市值計價的估值及其變化的影響排除在收入之外,可以更好地使這些合約的意圖和財務影響與基礎現金流保持一致。
Adjusted EBITDA
調整後 EBITDA
Adjusted earnings before interest, income taxes, depreciation and amortization, mark-to-market adjustment due to the changes in the fair value of the Company's financial derivative instruments and any non-recurring charges to income ("Adjusted EBITDA") is a non-IFRS financial measure used by the Company. The Company considers adjusted EBITDA to be an effective measure of profitability on an operational basis and is commonly regarded as an indirect measure of operating cash flow, a significant indicator of success for many businesses. Adjusted EBITDA is a non-IFRS financial measure used by the Company. The Company's Adjusted EBITDA may not be comparable to the Adjusted EBITDA measure of other companies, but in management's view appropriately reflects the Company's specific financial condition. This measure is not intended to replace net income, which, as determined in accordance with IFRS, is an indicator of operating performance.
扣除利息、所得稅、折舊和攤銷前的調整後收益、因公司金融衍生工具公允價值變動而進行的按市值計價調整以及任何非經常性收入費用(“調整後息稅折舊攤銷前利潤”)是公司使用的非國際財務報告準則財務指標。該公司認爲,調整後的息稅折舊攤銷前利潤是衡量運營盈利能力的有效指標,通常被視爲運營現金流的間接指標,是許多企業成功的重要指標。調整後的息稅折舊攤銷前利潤是公司使用的非國際財務報告準則財務指標。該公司的調整後息稅折舊攤銷前利潤可能無法與其他公司的調整後息稅折舊攤銷前利潤指標相提並論,但管理層認爲恰當反映了公司的具體財務狀況。該指標無意取代淨收入,根據國際財務報告準則,淨收入是經營業績的指標。
The following is a reconciliation of reported net income to adjusted EBITDA:
以下是報告的淨收入與調整後息稅折舊攤銷前利潤的對賬情況:
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Total System Wide Sales
全系統總銷售額
Total system wide sales refer to the aggregation of revenue recognized in the Company's consolidated financial statements plus the franchise sales occurring at franchise stores to their customers which are not included in the revenue figure presented in the Company's consolidated financial statements. Total system wide sales is not a measure recognized by IFRS and does not have a standardized meaning prescribed by IFRS, but it is a key indicator used by the Company to measure performance against prior period results. Therefore, total system wide sales as discussed in this MD&A may not be comparable to similar measures presented by other issuers. We believe that disclosing this measure is meaningful to investors because it serves as an indicator of the strength of the Company's overall store network, which ultimately impacts financial performance.
全系統總銷售額是指公司合併財務報表中確認的收入加上特許經營商店向其客戶進行的特許經營銷售的總和,這些銷售未包含在公司合併財務報表中列出的收入數字中。全系統總銷售額不是國際財務報告準則認可的衡量標準,也沒有國際財務報告準則規定的標準化含義,但它是公司用來衡量前一期業績的關鍵指標。因此,本MD&A中討論的全系統總銷售額可能無法與其他發行人提出的類似指標相提並論。我們認爲,披露這項指標對投資者很有意義,因爲它可以衡量公司整體門店網絡的實力,最終影響財務業績。
Franchise Sales
特許經營銷售
Franchise sales figures refer to sales occurring at franchise stores to their customers which are not included in the revenue figures presented in the Company's consolidated financial statements, or in the same store sales figures in this MD&A. Franchise sales is not a measure recognized by IFRS, and does not have a standardized meaning prescribed by IFRS, but it is a key indicator used by the Company to measure performance against prior period results. Therefore, franchise sales as discussed in this MD&A may not be comparable to similar measures presented by other issuers. Once again, we believe that disclosing this measure is meaningful to investors because it serves as an indicator of the strength of the Company's brands, which ultimately impacts financial performance.
特許經營銷售數據是指特許經營商店向其客戶進行的銷售,這些銷售未包含在公司合併財務報表中列出的收入數字中,也未包含在本MD&A中同一門店的銷售數據中。特許經營銷售不是國際財務報告準則認可的衡量標準,也沒有國際財務報告準則規定的標準化含義,但它是公司用來衡量前一期業績的關鍵指標。因此,本MD&A中討論的特許經營銷售可能無法與其他發行人提出的類似指標相提並論。我們再次認爲,披露這項指標對投資者來說是有意義的,因爲它可以衡量公司品牌的實力,最終影響財務業績。
Supplementary Financial Measures
補充財務措施
The Company uses supplementary financial measures to disclose financial measures that are not (a) presented in the financial statements and (b) is, or is intended to be, disclosed periodically to depict the historical or expected future financial performance, financial position or cash flow, that is not a non-IFRS financial measure as detailed above.
公司使用補充財務指標來披露(a)未在財務報表中列報的財務指標,以及(b)爲描述歷史或預期的未來財務業績、財務狀況或現金流而定期披露的財務指標,這些指標不是上文詳述的非國際財務報告準則財務指標。
Same Store Sales
同店銷售
Same store sales are defined as sales generated by stores, both in store and through online transactions, that have been open for more than 12 months on a fiscal basis. Same store sales as discussed in this MD&A may not be comparable to similar measures presented by other issuers, however this measure is commonly used in the retail industry. We believe that disclosing this measure is meaningful to investors because it enables them to better understand the level of growth of our business.
同一門店的銷售額是指門店在店內和通過在線交易產生的銷售額,按財政年度開業超過12個月。本MD&A中討論的同店銷售額可能無法與其他發行人提出的類似指標相提並論,但是該衡量標準通常用於零售行業。我們認爲,披露這項措施對投資者很有意義,因爲它使他們能夠更好地了解我們業務的增長水平。
About Leon's Furniture Limited
關於萊昂傢俱有限公司
Leon's Furniture Limited is the largest retailer of furniture, appliances and electronics in Canada. Our retail banners include: Leon's; The Brick; Brick Outlet; and The Brick Mattress Store. Finally, with The Brick's Midnorthern Appliance banner alongside with Leon's Appliance Canada banner, this makes the Company the country's largest commercial retailer of appliances to builders, developers, hotels and property management companies. The Company has 303 retail stores from coast to coast in Canada under various banners. The Company operates six websites: leons.ca, thebrick.com, furniture.ca, midnorthern.com, transglobalservice.com and appliancecanada.com.
Leon's Furniture Limited是加拿大最大的傢俱、電器和電子產品零售商。我們的零售旗幟包括:Leon's、The Brick、Brick Outlet 和 Brick Mattress Store。最後,憑藉The Brick的Midnorthern Appliance旗幟以及加拿大萊昂家電的旗幟,這使該公司成爲該國最大的向建築商、開發商、酒店和物業管理公司提供電器的商業零售商。該公司在加拿大從一個海岸到另一個海岸有303家零售店,旗幟各異。該公司運營六個網站:leons.ca、thebrick.com、furniture.ca、midnorthern.com、transglobalservice.com和appliancecanada.com。
Cautionary Statement
警示聲明
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Leon's Furniture Limited's periodic reports including the annual report or in the filings made by Leon's Furniture Limited from time to time with securities regulatory authorities.
本新聞稿可能包含前瞻性陳述,這些陳述受已知和未知的風險和不確定性影響,這些風險和不確定性可能導致實際業績與目標業績存在重大差異。此類風險和不確定性包括Leon's Furniture Limited的定期報告(包括年度報告)或Leon's Furniture Limited不時向證券監管機構提交的文件中描述的風險和不確定性。
This News Release may include certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify beneficial business opportunities, failure to convert the potential in the pursued business opportunities to tangible benefits to the Company or its shareholders, the ability of the Company to counteract the potential impact of the COVID-19 coronavirus on factors relevant to the Company's business, delays in obtaining or failures to obtain required shareholder and TSX approvals, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
本新聞稿可能包括某些不包含歷史事實的 “前瞻性陳述”。前瞻性陳述包括描述公司未來計劃、目標或目標的估計和陳述,包括大意爲公司或管理層預計將出現既定條件或結果的言論。前瞻性陳述可以用 “相信”、“預期”、“預期”、“估計”、“可能”、“可能”、“將”、“將” 或 “計劃” 等術語來識別。由於前瞻性陳述基於假設並涉及未來的事件和狀況,因此就其本質而言,它們涉及固有的風險和不確定性。儘管這些陳述基於公司目前獲得的信息,但公司無法保證實際業績將符合管理層的預期。與前瞻性信息相關的風險、不確定性和其他因素可能導致實際事件、結果、業績、前景和機會與此類前瞻性信息所表達或暗示的重大差異。本新聞稿中的前瞻性信息包括但不限於公司的目標、目標或未來計劃,以及對市場狀況的估計。可能導致實際業績與此類前瞻性信息存在重大差異的因素包括但不限於未能識別有益的商機、未能將追求的商機中的潛在轉化爲公司或其股東的切實利益、公司抵消 COVID-19 冠狀病毒對公司業務相關因素的潛在影響的能力、延遲獲得或未能獲得所需的股東和多倫多證券交易所批准、股票市場的變化、通貨膨脹,匯率的變化、大宗商品價格的波動、項目開發的延誤以及公司在SEDAR上提交的公開文件中列出的風險。儘管公司認爲在本新聞稿中準備前瞻性信息時使用的假設和因素是合理的,但不應過分依賴此類信息,這僅適用於本新聞稿發佈之日,也無法保證此類事件將在披露的時間範圍內發生或根本無法保證。除非法律要求,否則公司不打算或義務更新或修改任何前瞻性信息,無論是由於新信息、未來事件還是其他原因。
For further information, please contact:
欲了解更多信息,請聯繫:
Constantine Pefanis
Chief Financial Officer
Leon's Furniture Limited
Tel: 416-243-4074
lflgroup.ca
康斯坦丁·佩法尼斯
首席財務官
萊昂傢俱有限公司
電話:416-243-4074
lflgroup.ca
Jonathan Ross
LodeRock Advisors, Leon's Investor Relations
jon.ross@loderockadvisors.com
Tel: (416) 283-0178
喬納森·羅斯
LodeRock Advisors、Leon's 投資者關係
jon.ross@loderockadvisors.com
電話:(416) 283-0178
To view the source version of this press release, please visit
要查看本新聞稿的源版本,請訪問