Still pressured by weaker real-estate sales and a sagging interest in redecorating, furniture retailer Ethan Allen said third-quarter sales declined to $246.5 million, from $267.1 million in the prior
year quarter. Wholesale sales decreased 10.6%, to $171.9 million during that same period, and same-store sales at Ethan Allen design centers fell 8.6%.
"While we recognize that the
home furnishings retail environment remains uncertain, some positive trends have emerged in recent weeks," the company said, and "we continue to believe that our strategic initiatives provide us
stronger positioning as conditions improve."
The company said its next quarter's results should be in line with expectations.
--Sarah Mahoney