Furniture Brands Sees Smaller Second-Quarter Loss, Sales Decline Than Previously Forecast

ST. LOUIS (AP) — Residential furniture company Furniture Brands International Inc. said Wednesday it expects to post a smaller loss and sales decline for the second quarter than previously forecast.


The company said while retail conditions “remain challenging,” its sales for the quarter will decline by just under 12 percent. It previously expected sales to fall 15 percent from year-ago levels.

Furniture Brands now expects to report a loss between 3 cents and 7 cents per share, including charges of 2 cents per share for restructuring, asset impairment and severance charges. The company’s prior forecast was for a loss of 7 cents to 11 cents per share, including the charges.

Shares rose 49 cents to $14.50 in after-hours trading. The stock had closed up 46 cents, or 3.4 percent, at $14.01 in the regular session.