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.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.