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TORONTO — Leon’s Furniture Ltd. reported a first-quarter profit of $40.9 million, up from a profit of $13.7 million a year ago, as its revenue climbed higher.

The furniture retailer also announced that Edward Leon will retire as chief executive effective July 1 but will continue as a director of the company.

Mike Walsh, Leon’s president and chief operating officer, was named the next chief executive.

The change in the executive suite came as Leon’s reported a first-quarter profit of 51 cents per diluted share, up from 17 cents per diluted share a year ago.

Revenue for the quarter ended March 31 totalled $571.1 million, up from $497.6 million, as same-store sales rose 13.6%.

On an adjusted basis, Leon’s says it earned 51 cents per share for the quarter, up from an adjusted profit of 16 cents per diluted share a year ago.