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.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.