Furniture Brands Outlook Dims

March 13, 2007  by in UnCategorized   

By Home Furnishings Business in on March 2007 Furniture Brands International, St. Louis, announced Wednesday that the company expects sales in its current first quarter to be down 15 percent from a year ago.

In a release, Chairman and CEO Mickey Holliman said, “Retail conditions remain challenging across the industry and are softer than expected when we last commented on the business. We now expect net sales in the first quarter to be down nearly 15 percent versus a very strong first quarter last year. We also expect our net earnings per diluted common share to be in the 3 to 7 cent range.”

Results for the quarter will be reported on May 2. The company had previously said it expected earnings per share to be in the range of 12 cents to 17 cents.

FBI’s brands include Broyhill, Lane, Thomasville, Drexel Heritage, Henredon and Maitland-Smith.