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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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.