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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01 -- Ignore unavailable to you. Want to Upgrade?

To: Sergio H who wrote (9362)	8/15/2001 11:02:55 AM
From: Bucky Katt	Respond to of 13094

U.S. Consumers Skimping on Furniture After Home Buying Spree This validates my previous posts on people buying half million dollar houses and have no furniture, but 2 new & leased BMW's in the drive.... Also, no opp on HBI, I don't follow it. Germantown, Maryland, Aug. 15 (Bloomberg) -- Gerri Hays has bad news for furniture makers hoping that one of the best years for home sales will spell higher profits. She did her shopping at consignment stores and garage sales. Hays spent $175,000 for a two-bedroom, 2 1/2-bath townhouse in Germantown, Maryland, a Washington suburb. ``I had to go to the top of my range'' to find an acceptable house, the 43-year-old registered nurse said. Buying used furniture, such as a hand- carved Indonesian bookcase and an end table for $280, helped her stay within budget. Those spending decisions help explain why Ethan Allen Interiors Inc., Furniture Brands International Inc., Stanley Furniture Co. and other makers have been reporting declining sales while home purchases may tie the 1999 record this year. ``At this stage, most people that are buying homes are strapped for cash and credit'' said Farooq Kathwari, chief executive of Ethan Allen. The Danbury, Connecticut, company says profit for the quarter that ended June 30 fell 34 percent from a year ago and earnings this quarter will miss estimates. Furniture Brands, maker of Broyhill, Lane and Thomasville lines, reported a 12 percent sales drop in the first half from a year earlier. The St. Louis company doesn't expect a recovery until the end of the year. Stanley, based in Stanleytown, Virginia, reported a sales decline of 18 percent. more>http://quote.bloomberg.com/fgcgi.cgi?ptitle=Top%20Financial%20News&s1=blk&tp=ad_topright_topfin&T=markets_bfgcgi_content99.ht&s2=ad_right1_topfin&bt=ad_position1_topfin&middle=ad_frame2_topfin&s=AO3n1ERWOVS5TLiBD