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.
Other Articles By Author
HFN Launches Interactive Idea Book
HFN's DIGITAL EDITION
COVER STORY: HFN Turns 90
We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.
ALSO IN THIS ISSUE:
- Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
- Omnichannel Retailing - In the Mobile App World, Time is Money