Case goods firm sees losses rise on 28% sales fall in Q2

20th July 2009 | cabinet | US firm Stanley Furniture saw sales fall almost a third to $42.3m in the second quarter of its financial year.

The company said it believed its latest trading update would prove to the lowest point in its sales performance and turnover would increase in the year ahead. In the three months to 30th June, the firm made a loss of $3m compared to the $68,000 loss in the same period last year.

Stanley also announced plans to consolidate its warehousing operations in the US.