SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Residential Real Estate Crash Index
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: TheStockFairy who wrote (144013)9/3/2008 2:55:49 PM
From: Smiling BobRead Replies (1) of 306849
 
Ethan Allen sees profit below Wall Street views
Tuesday September 2, 6:37 pm ET

ATLANTA (Reuters) - Ethan Allen Interiors Inc (NYSE:ETH - News) forecast quarterly profit below current Wall Street views on Tuesday, citing "substantially lower" sales volumes in July and August from a year earlier and its shares fell more than 7 percent in extended trading.

The furniture maker and retailer expects per-share earnings of 20 cents to 26 cents a diluted share for its first quarter, which ends this month. Analysts on average expected profit of 49 cents a share, according to Reuters Estimates.

For the year-earlier first quarter, Ethan Allen had earnings of 57 cents a share.

Falling home sales and values have hurt furnishings companies as consumers face higher fuel and food costs. Furniture Brands International Inc (NYSE:FBN - News) and Haverty Furniture Co Inc (NYSE:HVT - News) posted quarterly losses last month as the industrywide sales slowdown continued.

Ethan Allen, which is scheduled to present at a Goldman Sachs retail conference on Wednesday, reported a 46 percent drop in fourth-quarter net income in July as same-store sales at its design centers fell 11.1 percent.

The retailer disclosed its latest forecast after markets closed. The company's shares fell 7.7 percent to $25.10 in extended trading from their $27.20 close on the New York Stock Exchange.

(Reporting by Karen Jacobs; Editing by Andre Grenon)
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News