Categorized | Business news, Furniture, Manufacturing, Northeast Mississippi

Furniture Brands’ losses widen for quarter, year

FBN logoFurniture Brands International, the parent company of Lane Furniture, Thomasville, Broyhill, Drexel Heritage, Henredon, Maitland-Smith and others, saw its losses widen for the fourth quarter as well as for all of last year.

The company said its fourth-quarter sales rose 3.3 percent to $264 million, but it recorded a loss of $22.9 million, or 41 cents a share. That compares to a loss of $9.5 million, or 17 cents a share, a year ago.

For the year, Furniture Brands saw sales fall 3.2 percent to $1.07 billion, versus $1.11 billion in 2011.

The company’s net loss for the year was $47.3 million, or 86 cents a share, compared to a loss of $43.8 million, or 80 cents a share, in 2011.

 

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