Furniture Brands International
fell 5% Thursday after the furniture outfit offered subpar second-quarter guidance.
Late Wednesday the company reaffirmed its second-quarter earnings forecast of 29 cents a share to 33 cents a share, including 3 cents of restructuring charges and 3 cents in increased interest expense.
Analysts surveyed by Thomson First Call were expecting earnings of 36 cents a share. The St. Louis-based company said it will report second-quarter results on July 26.
"Business conditions remain as expected from early May when we last commented on current trends," the company said. "We are currently in a seasonally challenging period for furniture retailing; nevertheless, net sales are slightly positive versus the year ago period."
Shares fell $1.06 to $19.52.
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