Stanley Furniture has reversed its decision to vacate the youth and nursery furniture category and will introduce a collection in April at the High Point Market.
The case goods company announced last April that it would shutter its Young America business because the division couldn’t achieve the needed revenue to be profitable.
The announcement to reenter the category follows this week’s news that the company said it will report a 15 percent increase in fourth quarter sales from continuing operations. Stanley also said it expects to report its fourth consecutive sequential quarter of improved operating results along with profits at the operating level for the fourth quarter of 2014.
“Stanley is now operating profitably,” said Glenn Prillaman, president and CEO. “With the help of our loyal customers and patience of our shareholders, our team has successfully transformed the company into a growing design, sourcing and marketing company with momentum in its business and a brand with a marketable heritage as a style leader and source of quality furniture. The flexibility of our operations model as well as our experience and relationships in the nursery and youth furniture business position the company to now expand and grow profitably through product line extension.”
Source: Home Furnishings Business
Posted by: Rooms Delivered