Furniture Brands keeps push toward imports

Jul. 28--HIGH POINT -- Furniture Brands International announced Thursday that second quarter net sales and earnings were up from the same time last year.

Net sales totaled $601.3 million in the second quarter of 2006 compared with $593.8 million last year, an increase of 1.3 percent. Earnings increased to $17 million from $9.6 million during the same time last year.

"We continue to make steady, measurable improvements to the company's performance," said Mickey Holliman, chairman and chief executive officer of Furniture Brands, during a Thursday phone conference. Holliman said the increase in earnings is largely because of good performance at Lane home furnishing. "Lane's business has been strong all year," he said.

Thomasville Furniture Industries, however, saw business flatten during the second quarter because of softening retail conditions.

During the second quarter, Furniture Brands International announced the closure of one casegoods plant. As the company makes the transition from domestically produced to imported goods, 33 factories have been closed since 2001.

There still are 26 domestic factories running, while 43.7 percent of the company's total inventory is being imported.

Furniture Brands International is one of the United States' largest residential furniture companies.

Furniture Brands International produces and markets its products under the Broyhill, Lane, Thomasville, Henredon, Drexel Heritage and Maitland-Smith brand names.