FBI Reaffirms 2nd Quarter Guidance

June 7, 2006  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on June 2006 Furniture Brands International has reaffirmed its guidance for the company’s second quarter earnings.

Mickey Holliman, chairman and chief executive officer, said Wednesday that the company expects business conditions to remain as expected from early May when the conglomerate last commented on trends.

“We are currently in a seasonally challenging period for furniture retailing, nevertheless, net sales are slightly positive versus the year-ago period,” he said.

FBI’s guidance in early May offered expectations of net earnings per common share of 29 cents to 33 cents, including the effect of 3 cents of previously disclosed restructuring, asset impairment and severance charges along with the effect of 3 cents in increased interest expense.

The company will report its results for the quarter July 26.