LFL Reports Strong Financial Performance for 2025

2025 was a good year for this country’s largest home retailer.

Leon’s Furniture Ltd. (LFL) Group has reported system-wide sales increased nearly $3.1 billion, up 2.8 per cent from 2024.

“In 2025, our teams delivered the outstanding value and experience Canadians expect, while maintaining gross margin and cost discipline. These efforts drove strong full-year results,” LFL president and CEO Mike Walsh told shareholders.

Same-store sales grew three per cent, as did revenue, driven by strong performance in the furniture and appliance categories.

Normalized adjusted diluted earnings per share increased 16.5 per cent.

Reflecting these results, LFL increased its quarterly dividend by 20 per cent and ended the year with a rock-solid balance sheet supported by $603 million in unrestricted liquidity.

The fourth quarter unfolded largely as anticipated by LFL top brass, with consumers taking a more deliberate approach to significant discretionary purchases and promotional activity intensifying across the industry.

Results were further impacted by Canada Post service disruptions and unfavourable weather comparisons during key selling periods.

Despite these headwinds, system-wide sales increased 0.8 per cent to $813 million from Q4 2024, gross margin expanded 23 basis points, and normalized adjusted diluted earnings per share grew by 1.3 per cent over the same time period.

Revenue was $671.4 million, up 0.7 per cent, driven by strong performance in the furniture category. Same-store sales rose by 0.6 per cent.

“For more than 115 years, we have made it a priority to gain share in markets like this by providing value to our consumers,” said Walsh. “Supported by our competitive advantages — a coast-to-coast presence, omnichannel platform, sourcing capabilities, distribution network and strong balance sheet — we remain confident in our ability to grow market share in our core categories and to deliver long-term returns for our shareholders.”

LFL is the largest retailer of furniture, appliances and electronics in Canada. The Toronto-based retail group operates a total of 300 stores across the country under banners that include Leon’s, The Brick, The Brick Mattress Store, The Brick Outlet and Appliance Canada. It also operates six websites: leons.ca, thebrick.com, furniture.ca, midnorthern.com, transglobalservice.com and appliancecanada.com.