logo
Share SHARE
FONT-SIZE Plus   Neg

Furniture Brands Intl. Q4 Loss Widens

Retailing home furnishings company Furniture Brands International (FBN) posted a wider loss for the fourth quarter, hurt by a charge, but sales were higher compared to last year.

For the quarter, net loss was $22.9 million or $0.41 per share, including a $10.8 million after-tax charge, partially offset by the reversal of a $2.4 million valuation allowance on tax assets. This compares to a year-ago net loss of $9.5 million or $0.17 per share, which comprised a $2.8 million after-tax gain.

Net sales for the quarter rose to $264.0 million from $255.5 million a year ago. Fourth-quarter same-store sales at the 45 Thomasville stores that the company has owned for more than 15 months were up 4.8%.

For the year 2012, net loss widened to $47.3 million or $0.86 per share, from $43.8 million or $0.80 per share in 2011. Total revenue for the year declined 3.2 percent to $1.07 billion from $1.11 billion.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Consumers in Nigeria are calling for a boycott of Coca-Cola products sold in the African nation after a high court judge ruled that the products could be "poisonous". Justice Adedayo Oyebanji of the Lagos High Court ruled that high levels of benzoic acid and sunset additives in Coca-Cola's soft drinks could pose a health risk to consumers when mixed with ascorbic acid, commonly known as Vitamin C. Charles Murphy, a partner at New York hedge fund Paulson & Co., fell to his death after jumping out of a hotel window in Manhattan on Monday. Murphy was found dead on the fourth-floor terrace of the Sofitel New York Hotel after he jumped from a window on the 24th floor. Internet media company BuzzFeed is preparing to go public in 2018, media site Axios reported Wednesday, citing industry sources. New York-based BuzzFeed was founded in 2006 by Jonah Peretti and John Johnson III as a viral lab, focusing exclusively on tracking viral content.
comments powered by Disqus
Follow RTT