TITLE

Shermag revenues off 3.1 %

AUTHOR(S)
Knell, Michael J.
PUB. DATE
August 2005
SOURCE
Furniture/Today;8/22/2005, Vol. 29 Issue 49, p47
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Shermag Inc. has reported a 3.1 per cent decrease in net revenues in its first quarter ending in July 2005. According to its president and chief executive officer Jeff Casselman, the company is in midst of a significant transformation to counter the weak U.S. dollar and the effects of lower-cost Asian imports, and it will require time to move beyond the transition stage. In the first quarter two years ago, Shermag's sales to U.S. retailers were C$42.5 million. The U.S. greenback began its slide vis-a- vis the Canadian dollar in early 2003, and since then has cost the company over C$25 million.
ACCESSION #
18015941

 

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