Furniture Brands Slims Operating Loss in Fourth Quarter
February 4, 2010,
ST. LOUIS-Furniture Brands International reported a fourth-quarter operating loss of $23.4 million, down from the $40 million operating loss it posted in the fourth quarter of 2008.
The company managed this in spite of a 29.2 percent drop in net sales for the quarter, which totaled $285.6 million. Furniture Brands trimmed 29 percent off its selling, general and administrative expenses, and cost of goods sold for the quarter were 28 percent less than in the prior year.