Stanley Lowers 2Q Guidance

June 14, 2006  by in UnCategorized   

By Home Furnishings Business in Case Goods on June 2006 Stanley Furniture expects lower sales in second-quarter 2006 than previously anticipated, the case goods manufacturer announced yesterday.

The company expects second-quarter sales to be off 8 percent to 10 percent from record shipments of $83.6 million in the same period in 2005. The decline reflects overall industry conditions, said Jeff Scheffer, chairman, president and chief executive officer of Stanley.

“The weakness in sales that we experienced in the later part of the first quarter and into the early part of the second quarter has continued throughout the second quarter,” he said.

Stanley will announce second-quarter results and issue a third-quarter guidance on July 17.