WEST LAFAYETTE, IN – Furniture manufacturer Chromcraft Revington Inc. reported consolidated sales for the three months ended Sept. 27 of $23.0 million, representing an 18.8% decrease as compared to sales of $28.4 million for the year earlier period, according to MarketWatch.com. For the nine months ended Sept. 27 consolidated sales were $76.1 million, a 19.9% decrease from sales of $95.0 million for the prior year period.
Sales for the third quarter of 2008 were down primarily due to a weak economic environment, competitive pressure from imports, restructuring activities and unsuccessful product introductions. Residential furniture shipments decreased in all categories. Commercial furniture sales increased in the third quarter of 2008 as compared to the prior year period primarily due to higher shipments of seating products.
Read more.
Sales for the third quarter of 2008 were down primarily due to a weak economic environment, competitive pressure from imports, restructuring activities and unsuccessful product introductions. Residential furniture shipments decreased in all categories. Commercial furniture sales increased in the third quarter of 2008 as compared to the prior year period primarily due to higher shipments of seating products.
Read more.
Have something to say? Share your thoughts with us in the comments below.