Sleep Country Canada (ZZZ) has reported first quarter net income of $11.3 million, down 38.5% from $18.4 million a year earlier.
The Toronto-based retailer said its revenue in Q1 totaled $206.5 million, nearly unchanged from $207 million in the year earlier quarter.
Earnings per share were $0.32, down from $0.49 cents a year ago.
Sleep Country said its same-store sales declined 6.2% in Q1. The company blamed the decrease on weakening consumer spending and economic uncertainty.
Sleep Country added that its e-commerce sales softened in the quarter ended March 31 of this year.
The stock of Sleep Country Canada has declined 8% in the last 12 months to trade at $23.96 per share.
