Furniture Brands Sees First Quarter Loss

St. Louis, MO, May 7, 2009--Furniture Brands said a first quarter loss was the result of a "severe downturn" in consumer spending.

The company, which makes furniture under a variety of names including Broyhill, Thomasville and Drexel Heritage, posted a loss from continuing operations of $4.1 million, or 9 cents a share, compared with a profit of $3.7 million, or 8 cents a share, a year earlier.

Analysts, on average, expected a loss of 33 cents a share.

The company said revenue fell to $356.8 million from $477.2 million a year earlier. Analysts had expected a revenue of $388.9 million.