Richelieu Hardware Down Near 6% as It Reports a Fiscal Q2 Earnings and Sales Miss

Richelieu Hardware (RCH.TO), down 6% on last look, said its fiscal second-quarter earnings edged up to C$0.42 per share, from C$0.41 per share, in the prior-year period. Analysts polled by FactSet had forecast earnings of C$0.48 per share. The specialty hardware and furniture company said consolidated sales for the quarter ended May 31 rose 3.9% to C$532.1 million year over year, but missed the C$543.25 million expected by analysts. Richelieu said the increased sales was driven by a 2.1% contribution from acquisitions and 1.8% internal growth. The company will pay a regular quarterly dividend of C$0.156 per share on Aug. 7, to shareholders of record as at July 23. Richelieu shares were last seen down C$2.23, to C$36.59 on the Toronto Stock Exchange. Price: $36.41, Change: $-2.41, Percent Change: -6.21%