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 We have not
seen any significant change in order trends since Labor Day and
we are projecting these business conditions to persist for the
remainder of 2006.
Jeffrey R. Scheffer, Chairman, President and CEO, Stanley
Furniture
Stanley Furniture Company, Inc. (STLY)
warned today that third quarter sales are now expected to be
below previously anticipated levels due to continued weakness in
retail furniture activity.
Stanley expects a sales decline of 8% to 10% compared to record
shipments of $85.6 million in the third quarter of 2005. For the
total year 2006, Stanley said sales are expected to decline 4%
to 7% compared to 2005.
"Third quarter sales to date have been weaker than previously
anticipated and we believe this is a result of overall industry
conditions," commented Jeffrey R. Scheffer, chairman, president
and chief executive officer.
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