WEST LAFAYETTE, IN –Chromcraft Revington Inc., a designer and manufacturer of residential and commercial furniture, reported sales for the second quarter and first half of the year, ended June 30, at $32.8 million and $66.6 million, respectively. According to Business Wire, second quarter sales were down 19% and first half sales were down 23% from the same periods last year. The company reported a net loss for the second quarter and first half of $3.3 million and $4.5 million, respectively.
“We have moved the overall organization to a functional structure, including unifying sales and marketing organizations for our commercial and residential businesses, shifting our residential sales force to an exclusive representation, outsourcing products that were manufactured domestically, launching several new globally sourced casual dining, occasional and bedroom furniture programs, and reducing employment levels by 37% as compared to a year ago. These changes in our organization and operational focus are designed to build a more adaptable and competitive company to address the dynamic furniture marketplace,” said Ben Anderson-Ray, chairman and CEO.
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