(Editor: Leona)

The acquisition of archrival The Brick appears to be paying off for Leon’s Furniture as it reported increased sales and earnings for the fourth quarter and the 2014 fiscal year.

Total system sales in the fourth quarter were C$649.4 million, up 2.4% from the same period of 2013.

Corporate store sales were C$542.2 million, up 3.7%, while same-store growth was pegged at 4.3%. Franchise store sales, meanwhile, were down 3.3% to C$107.2 million.

Net income was C$29.9 million or 42 cents per share, compared with C$26.3 million or 37 cents per share a year ago — a 13.5% gain on a per share basis.

For the full year, system wide sales were C$2.35 billion, up 15.1% from the C$2.04 billion for 2013. The 2013 figure only includes sales from The Brick after March 28, the day Leon’s closed its C$700 million acquisition of the high-impact promoter.

With sales of $2.35 billion, Leon’s Furniture is the largest furniture, mattress and major appliance retailer in Canada.

Corporate store sales were C$1.97 billion, up 16.5% from 2013 as same-store sales grew 0.4%. Franchise store sales were C$373.9 million, up 8.5%. The company franchise network contains 102 operating under both The Brick and Leon’s banners across the country.

Net income for the year was C$75.5 million or C$1.07 per share, compared to C$68.4 million or 97 cents per for the prior year — a gain of 10.3% on a per share basis.

“We are pleased with the increase in profits for both the fourth quarter and 2014 when compared to the prior year,” Terry Leon, president and CEO of the publicly held and family-managed retailer, said in a note to shareholders. “We are also very encouraged by the increase in same-store sales for the fourth quarter and year when compared to 2013.

“Integration and synergies between The Brick and Leon’s divisions are progressing as planned,” he said, adding that Leon’s is in the early stages of a 15-month project to install a new computer system that will improve operational efficiency in both divisions.

Somewhat unusually, the company didn’t provide much discussion about the development of its store network in its fourth quarter. However, it’s believed the previously announced opening of a 90,000-square-foot retail showroom and warehouse just outside Calgary, Alberta, has been delayed until 2016.