ST. LOUIS -- Furniture Brands International posted sales of a net loss of $44.7 million during the fourth quarter, and a $39 million loss for the year on $1.16 billion in revenue for 2010.
Despite the loss, CEO Ralph P. Scozzafava said the company was on track to improvement, citing aggressive new marketing efforts, some aimed at high end consumers that Scozzafava said are returning to the market.
"We reinvigorated the Lane brand in late 2010 through a national TV and print ad campaign and through the launch of 'Laneology' – our name for the bundle of features and benefits that make Lane products among the very best in reclining furniture," Scozzafava said.
He said that Thomasville is ramping up its new product pipeline and will build on the momentum that drove a 19% same-store-sales increase in 2010. "We are excited to announce a new, more expansive Thomasville TV campaign that will launch in mid-2011," Scozzafava said. "The high-end consumer is back in the market for furniture and our industry-leading portfolio of designer brands are in high demand by the design trade."
Read Furniture Brands' press release.
Posted by Rich Christianson
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