HIGH POINT, NC— Stanley Furniture Co. Inc. said it is projecting 15 percent sales growth in 2014 despite discontinuing its Young America juvenile furniture brand and closing of the residential furniture company's last domestic production facility.
Stanley Furniture announced in April it would shutter its Robbinsville, NC plant where the Young America line was manufactured. According to Stanley, the Young America brand had represented approximately 40% of its revenues.
For 2015, Stanley (STLY) said it expects to continue the upward revenue trend while further developing the Stanley Furniture brand. "After over 90 years as a domestic manufacturer, the company is now executing a profitable business model as a design, marketing and logistics company in the upscale segment of the wood residential furniture industry with momentum in its business," it said in a statement.
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