Leggett & Platt (Carthage, Mo.-based store fixture and p-o-p display supplier) has reported record second quarter sales and a 2.5 percent increase for the 13 weeks ended June 30, 2005.
Its Commercial Fixturing and Components division enjoyed a 6 percent increase in total sales. Same-location sales increased 5 percent, with unit volumes contributing 2 percent of the growth. But earnings declined by 14 percent, with gains from higher sales and cost savings more than offset by unfavorable product mix, higher resin costs (which impact the plastics operations), the impact of currency and other items.
For the full year, the company expects a smaller-than-anticipated improvement, reflecting changing product mix and higher-than-anticipated commodity, plant closure and new operation start-up costs.
“Sales were slightly below the range we originally forecast,” said chairman and ceo Felix Wright. “Several of our markets exhibited strength, but some showed a bit of demand weakness.”