Brief: Stanley Furniture expects to report flat first quarter sales from continuing operations

HG Holdings

08/04/2015 21:59

April 8 (Reuters) - Stanley Furniture Company Inc  STLY.O : 
 * Pre-announces first quarter sales and profitability results 
 * Says expects to report flat first quarter sales from continuing operations 
 * Stanley furniture company says sales remained flat with the prior year 
   quarter as backlog from successful fall product introductions shipped 
 * Stanley furniture company says order rates fell sharply as the quarter 
   progressed due to bad weather mostly in the northeast and mid-atlantic 
 * Stanley furniture company says overseas port congestion caused by the west 
   coast port strikes significantly increased costs as the quarter progressed 
 * Says expects to report an operating loss in Q1 due to the west coast port 
   strike and weather 
 * Have been incurring additional expenses to facilitate shipments to customers, 
   expect to continue to do so until about midway Q2 
 
 * Source text for Eikon  ID:nBwpzJgra  
 * Further company coverage  STLY.O   
 
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