Cousins Furnishings Reports Loss in Quarter
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Citing low sales volume and a decrease in gross profit, Cousins Home Furnishings Inc. Friday reported a third-quarter net loss of $3.8 million on revenues of $20.7 million, compared with a net loss of $5.7 million on revenues of $18.7 million for the comparable period in 1986.
For the nine months ended March 31, Cousins’ net loss stands at $8.7 million on revenues of $64.1 million, compared with a net loss of $3 million, which included net non-recurring income items of $7.4 million, on revenues of $65 million for the nine months ended March 31, 1986.
The loss from continuing operations for the three months ended March 31 decreased to $3.8 million from $6.1 million a year previous.
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