Shermag 20 revenues off 39.7%; loss mounts

November 2007
Furniture/Today;11/26/2007, Vol. 32 Issue 12, p54
Trade Publication
The article reports on the financial performance of furniture importer and manufacturer Shermag Inc. in Canada as of the second quarter of the fiscal year 2007. The company experienced a decline in revenues of 39.7% and suffered C$3.7 million loss due to a strong Canadian dollar and a weak U.S. housing market. According to then president and chief executive officer (CEO) Jeff Casselman, the company's board has conducted a complete review of operations to respond to market changes.


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