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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Leon's Furniture
Leon's Furniture (LNF) investor relations material
Leon's Furniture Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary7 Aug, 2026
Executive summary
Revenue declined 2% year-over-year to CAD 631.2 million as consumers remained cautious and value-focused, with system-wide and same-store sales both down slightly.
Delivered retail units increased, reflecting a shift to lower price points and strong execution in core categories.
Net income rose to CAD 35.0 million from CAD 31.8 million, while adjusted net income fell to CAD 34.8 million from CAD 39.4 million year-over-year.
Digital and in-store channels continued to complement each other, with online sessions and sales both growing.
Four new franchise locations were opened, and unrestricted liquidity increased to CAD 560.1 million from CAD 454.5 million.
Financial highlights
Gross margin was 44.63%, down 19 basis points year-over-year, mainly due to lapping a prior-year benefit and unfavorable foreign currency revaluations.
SG&A as a percentage of revenue increased by 47 basis points to 36.85%, driven by fixed cost deleverage, higher marketing, fuel, and occupancy costs.
Adjusted net income was CAD 34.8 million (down from CAD 39.4 million); adjusted diluted EPS was CAD 0.51 (down from CAD 0.57); reported diluted EPS was CAD 0.51, up 10.9% due to prior year derivative losses.
Unrestricted liquidity stood at CAD 560.1 million, including cash, marketable securities, and undrawn credit.
Quarterly dividend declared at CAD 0.24 per share, a 20% increase year-over-year.
Outlook and guidance
Early Q3 shows cautious optimism with improving traffic and average sale, though July is seasonally small and trends are based on written, not delivered, sales.
Q4 is expected to be more favorable due to easier comps and resolution of prior flyer and weather issues.
Supply chain pressures, especially on certain Asian shipping lanes, may impact Q3 inventory availability and margins, but mitigation efforts are underway.
Mattress category expected to remain a favorable margin driver; pricing strategy will remain value-focused despite higher input costs.
Management remains cautious for the remainder of 2026, focusing on prudent planning and market share gains as conditions normalize.
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Latest events from Leon's Furniture
- National retailer with strong sales, digital growth, and valuable real estate assets.LNF
Investor presentation - Revenue fell 3.8% but gross margin and liquidity improved, with mattress sales growth and new stores.LNFQ1 2026
- Normalized EPS up 16.5% and revenue up 3.0%, with margin gains and a special dividend declared.LNFQ4 2025
- Q3 revenue up 4.1%, adjusted EPS up 20.4%, led by strong furniture and appliance sales.LNFQ3 2025
- Adjusted net income surged 31.8% and dividend was raised 20% amid strong sales growth.LNFQ2 2025
- Revenue and adjusted net income declined, but cost control and liquidity remain strong.LNFQ3 2024
- Revenue and net income rose in Q2 2024, with strong liquidity and higher dividends.LNFQ2 2024
- Margin discipline, real estate value, and brand focus drive resilience amid market uncertainty.LNF28th Annual CIBC Retail and Consumer Conference
- Record Q1 revenue and 47% adjusted net income growth highlight strong operational execution.LNFQ1 2025
Next Leon's Furniture earnings date
Q3 20266 Nov, 2026
Leon's Furniture
Next Leon's Furniture earnings date
Q3 20266 Nov, 2026
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Frequently asked questions
Leon's Furniture Limited is a Canadian retailer specializing in the sale of furniture, appliances, electronics, and home accessories. Operating under multiple banners, including Leon's, The Brick, and Appliance Canada, the company serves residential and commercial customers across Canada through a network of stores and an e-commerce platform. Leon's Furniture offers a wide range of products, from living room and bedroom furniture to home entertainment and appliances, catering to various style preferences and budgets. The company is headquartered in Toronto, Ontario, and its shares are listed on the Toronto Stock Exchange.