Leggett & Platt Net Rises 4 Percent in Second Quarter
July 29, 2011,
CARTHAGE, Mo.-In what President and CEO David Haffner described as "a reasonably good quarter," Leggett & Platt posted net income of $54.7 million, up 4 percent from last year's second quarter.
The company's bottom line firmed largely due a gain in net sales of 8.1 percent, to $945.2 million. At the same time, according to a Leggett & Platt statement, much of this growth came from items that brought a low level of incremental profit, such as inflation from price increases instituted to recover higher costs; currency exchange rates; and trade sales from the company's steel mill.
Leggett & Platt said it expects net sales for all of 2011 to finish at between $3.5 billion and $3.7 billion, which would represent an increase of from 4 percent to 10 percent.
Other Articles By Author
HFN Launches Interactive Idea Book
HFN's DIGITAL EDITION
COVER STORY: HFN Turns 90
We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.
ALSO IN THIS ISSUE:
- Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
- Omnichannel Retailing - In the Mobile App World, Time is Money