Furniture Brands posts higher third-quarter loss

By NEMS Daily Journal

ST. LOUIS – Furniture Brands International, the parent company of Lane Furniture, reported a third-quarter loss of $24.5 million, or 45 cents a share. That compares to a loss of $2.1 million, or 4 cents a share in the year-ago quarter.
The company also said sales fell 5.1 percent, from $272 million a year ago to $258 million in the most recent quarter.
FBI also said it had implemented “cost reduction actions” that will save the company $30 million.

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