HIGH POINT, NC--Stanley Furniture Co. announced plans to re-enter the nursery and youth furniture market with a mid-year product launch at April's High Point Market. The residential furniture company exited the market last year when it shuttered its Robbinsville, NC plant where its Young America line was manufactured.
No mention was made as to where the juvenile furniture line would be produced, though indications are that it will be manufactured overseas like other Stanley products.
Stanley Furniture's (Nasdaq-NGS:STLY) announcement comes a little more than one week after the company said it expects fourth quarter sales from operations to be up more than 15% year-over-year and up in the low single digits for total year 2014. According to Stanley, the Young America brand had represented approximately 40% of its revenues.
Fourth quarter and full year operating will be announced February 3.
“Stanley is now operating profitably. With the help of our loyal customers and patience of our shareholders, our team has successfully transformed the company into a growing design, sourcing and marketing company with momentum in its business and a brand with a marketable heritage as a style leader and source of quality furniture,” President and CEO Glenn Prillaman said in a statement. "The flexibility of our operations model as well as our experience and relationships in the nursery and youth furniture business position the company to now expand and grow profitably through product line extension."
Prillaman added, "Innovating is never easy, and we know there are challenges to any new product launch. However, we can assure prospective customers that our plan includes each of the components of a modern business model designed to attract this product category's target consumer.
"Nursery and youth furniture is thriving in certain channels and it remains one of the most powerful and effective ways a retail store owner can attract and retain younger female consumers in an online age," Prillaman said.
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