Furniture Brands International Inc.(fka FBNIQ)

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Renee

09/09/13 4:47 PM

Post #152

Re: #133: @Renee - FBN delisted from NYSE to OTCQB. New ticker FBNI:

FBNI changed to FBNIQ: Bankruptcy:

http://www.otcbb.com/asp/dailylist_detail.asp?d=09/09/2013&mkt_ctg=NON-OTCBB

Penny Roger$ Free

09/09/13 3:31 PM

Post #151

Re: #150: @Lawrence 147 - They just R/Sd 7 to 1 . My

Hope things work out for all here..

Well the bankruptcy thing is very unfortunate. I remember friends getting hit by Enron long ago. This is small potatoes in comparison.

Lawrence 147 Free

09/09/13 3:11 PM

Post #150

Re: #148: @Penny Roger$ - Yeah, I hate that.. This skydiver is no

They just R/Sd 7 to 1 . My plan was to sell into the R/S and pick up a little over night on the cover , it was something like 47% short. My broker would not let me sell for a week telling me I had non of this security. By then I was down 40% and just looking for a bounce that never came and then out of the bleu the lawsuit and another 40% over night. After having been in the Washington Mutual Bankruptcy I have no interest in being in on this one.
I got out of WM just in time though right after I jumped ship there was a 30 to 1 R/S Today they are around a buck and the faithful are still buying.

Lawrence 147 Free

09/09/13 3:00 PM

Post #149

Re: #147: @Fedel_Kastro - Read careful!! likely to purchase, those who invest,

Read Carefully; You can have it.

Penny Roger$ Free

09/09/13 2:57 PM

Post #148

Re: #142: @Lawrence 147 - I have noticed on many of your scans

Yeah, I hate that.. This skydiver is no exception.. Also many never bounce. Liquidity maims.

If it's not a big board the odds decrease significantly until it's a subbie pre R/S in many cases..

Fedel_Kastro Free

09/09/13 2:56 PM

Post #147

Read careful!! likely to purchase, those who invest, relied on this fall, and will buy shares, and then add the symbol Q and rise again! Many companies look to Q. http://www.marketwatch.com/story/furniture-brands-international-voluntarily-files-for-chapter-11-bankruptcy-protection-2013-09-09?reflink=MW_news_stmp

Lawrence 147 Free

09/09/13 2:54 PM

Post #146

Re: #140: @Penny Roger$ - Yeah, one never knows with curious business behavior.

Here it is, part 1 the Reorginization. Now just get rid of the scum that brought the company to this point.

Fedel_Kastro Free

09/09/13 2:46 PM

Post #145

The big guys do not just rastanutsya with your money ... first would drive up, and then sell out ...

Fedel_Kastro Free

09/09/13 2:32 PM

Post #144

Chance of redemption, the company looks good, if someone wants to strengthen its leadership position in this market, shares of Q and can add it to pump .. buy on lower levels ... short 27%

Serfcorp

09/09/13 2:22 PM

Post #143

Filed for Bankruptcy.......

Lawrence 147 Free

09/08/13 11:50 PM

Post #142

Re: #140: @Penny Roger$ - Yeah, one never knows with curious business behavior.

I have noticed on many of your scans it takes 2 weeks to sometimes months for the stock to bounce into profits from the time it is called. It still takes patience.

Penny Roger$ Free

09/08/13 11:35 PM

Post #141

Re: #139: @Lawrence 147 - Don’t get me wrong it might bounce I

Chart is pretty wicked looking here. Wow

otc http://www.otcmarkets.com/stock/FBNI/company-info

Penny Roger$ Free

09/08/13 11:34 PM

Post #140

Re: #139: @Lawrence 147 - Don’t get me wrong it might bounce I

Yeah, one never knows with curious business behavior.

No, that last batch of scans was less than perfect. It's a headache finding oversold charts that pop. Most keep falling after the call and finally find some upside past the call point. hope all is well..

Lawrence 147 Free

09/08/13 11:23 PM

Post #139

Re: #138: @Penny Roger$ - Wow.. I trust your judgment.. nuts!

Don’t get me wrong it might bounce I don’t argue to much with the charts but this is still a bad one and if you do put anything in it get out as fast as you can with the profit you can get and call it good . These boys are going down.
Their only hope is getting rid of the Officers that pulled this BS and reorganize.
I lost a ton on this one because my broker would not let me sell when I needed to and I waited too long looking for the bounce that never happened.

Penny Roger$ Free

09/08/13 7:02 PM

Post #138

Re: #137: @Lawrence 147 - Except for this one , total scam by

Wow.. I trust your judgment.. nuts!

Lawrence 147 Free

09/07/13 9:46 PM

Post #137

Re: #134: @Penny Roger$ - $FBNI > Technical

Except for this one , total scam by the management.it may not make it at all.

redsky7

09/01/13 9:21 AM

Post #136

Re: #135: @mrcrookshanks - I see little chance of this stock rebounding.

They can sell off one of their brands and cut almost all
their debt. This will be done. It's the lawsuits that's
the main concern now. They are far from bankruptcy.
Should bring in a new CEO and turn things around.

mrcrookshanks Free

08/29/13 8:21 PM

Post #135

I see little chance of this stock rebounding. I work in the furniture industry and FBN is only headed to bankruptcy unless they can sell off some of their brands or get some type of CDSOA payment.

Penny Roger$ Free

08/29/13 7:02 PM

Post #134

Renee

08/27/13 10:56 PM

Post #133

FBN delisted from NYSE to OTCQB. New ticker FBNI:

http://www.otcbb.com/asp/dailylist_detail.asp?d=08/27/2013&mkt_ctg=NON-OTCBB

arconte

08/23/13 12:57 PM

Post #132

$FBN goooooooooo

FUNMAN

08/22/13 6:27 PM

Post #131

Re: #126: @vector_six - Between July 17, 2013, and August 2, 2013,

I sure wish I followed those actions much more closely.

PAC

08/20/13 6:20 PM

Post #130

Looks like a reversal in order

drugtester Grandfathered

08/20/13 5:54 PM

Post #129

Re: #126: @vector_six - Between July 17, 2013, and August 2, 2013,

When a Form 4 is filed it is not considered insider trading! From July 19 through August 2 six Form 4s were filed with the SEC covering all of those sales that you mentioned. LOL....Nice try though.

TR4GEDY

08/20/13 4:01 PM

Post #128

About time this bounces.. Hopefully 1.20 plus..

FUNMAN

08/16/13 9:08 PM

Post #127

Re: #126: @vector_six - Between July 17, 2013, and August 2, 2013,

That's pretty damning evidence.

vector_six Free

08/10/13 2:03 PM

Post #126

Between July 17, 2013, and August 2, 2013, FBN's Chief Executive Officer and his wife sold about 250,000 FBN shares, for proceeds of about $675,000, including over 140,000 shares sold on August 1-2 for about $325,000.

Then, on August 6, FBN announced its results for the second quarter of 2013. FBN reported that it had recorded a goodwill impairment of over $10.8 million. That day, FBN's stock price fell by 38%, damaging investors.

INSIDER TRADING = JAIL TIME AND POSSIBLE ASSET CONFISCATION!

Damaged investors, contact the SEC & file a complaint.

FUNMAN

08/09/13 9:00 AM

Post #125

Re: #118: @jamesnames - Time to buy. Brands are worth good money.

Class Action

http://www.dailyfinance.com/2013/08/07/the-rosen-law-firm-announces-investigation-of-furn/

mcptrman

08/09/13 12:38 AM

Post #124

Re: #114: @FUNMAN - If FBN goes sub dollar, I will look

"Someone should be able to come up with a few good ideas to revitalize some of the products."

Funman818,

Is there anyone here that has direct contact with the CEO or anyone on the board of directors ?

I have a "Patent Pending" line of furniture that I will have ready for the market within weeks. This could be ideal for FBN and the stockholders.

I am the holder of a new, PATENT PENDING - "360 degree sliding mirror system". I have videos, pics and the general description on the below link.

http://www.panoramicenterprises.com

I have a long and costly marketing road ahead of me if I put this on the market as an unknown. I believe this type of unique product could be that "good idea", which you are referring. FBN certainly has the distribution/marketing and it should do wonders for their stock price.

Any thoughts or ideas ?

mcptrman

I would like to add I am not trying to solicit my business, since my product is not yet ready for the market. I truly believe this could be a good venture for all concerned here.

gr8f1

08/07/13 4:26 PM

Post #123

Re: #122: @FUNMAN - ... we believe fair value on the equity

Really looking terrible and really, really glad I didn't take a position earlier!! Thanks for all your information. COME ON CHP11! Looks like we may have a future Q play developing ; )

FUNMAN

08/07/13 11:24 AM

Post #122

... we believe fair value on the equity is $0 ...

They're toast.

UPDATE: Stifel Nicolaus Downgrades Furniture Brands on Expected Liquidation

In a report published Wednesday, Stifel Nicolaus analyst John Baugh downgraded Furniture Brands (NYSE: FBN [FREE Stock Trend Analysis]) from Hold to Sell.

In the report, Stifel Nicolaus noted, “We are downgrading Furniture Brands from Hold to Sell as we believe some form of liquidation of the company or bankruptcy filing is imminent and we believe fair value on the equity is $0. On an annual basis, the company has seen 8 years of revenue declines and we believe 2013 will be another down year. In the most recent quarter, the company has announced that it will attempt to renegotiate its credit facilities, sell off assets, and look into further cost reductions to address the liquidity concerns. We believe it is more likely that they are talking to workout investment bankers or bankruptcy attorneys about their options. We have heard from various sources that the company has been unable to pay vendors in a timely manner in the past week and there is risk that they will have issues buying raw materials necessary to make product going forward. Clearly the Street has similar feelings as we do as the company was forced into a reverse 1:7 stock split in order to keep from being de-listed by the exchange in May and the stock is now back under $2 today. The equity is worth nothing in our opinion.”

Furniture Brands closed on Tuesday at $1.37.

FUNMAN

08/07/13 10:15 AM

Post #121

Re: #116: @gr8f1 - Now that was a nice imformative post!

It may go sub-dollar today. It's down to 15¢ pre r/s. A delisting notice is on the horizon.

The only reason other firms haven't downgraded it is because nobody is watching this POS anymore.

UPGRADES & DOWNGRADES HISTORY

Date Research Firm Action From To

7-Aug-13 Stifel Downgrade Hold Sell

With nearly $1 billion in revenues, one would think someone could turn this ship around.

FUNMAN

08/06/13 4:19 PM

Post #120

CEO Ralph Scozzafava says FBN's financial performance for the period was "below expectations." The company will now "engage outside advisors" to assist in a "thorough strategic review" aimed at "achieving further cost reductions, pursuing asset sales, and modifying credit facilities."

The ship has been sinking for years. Now he is going to throw up his hands and ask for outside help; geeezzz why doesn't the Board of Directors fire this guy?

FUNMAN

08/06/13 10:06 AM

Post #119

Re: #117: @zillionzmillionz - Shareholders are taking it in the rear.

FBN is on the way to going sub-dollar.

Until the board of directors step in and put a new strategic plan in place with the people who can execute the plan, FBN is toast.

I will consider buying more when it goes sub-dollar, but without a turn-around strategy, my consideration will be fleeting.

At this point, FBN is worth more broken up than the sum of it's parts.

jamesnames Terminated

08/05/13 11:47 AM

Post #118

Time to buy. Brands are worth good money.

Hickory Chair alone is worth 5 multiples of the market cap. They have some good brands. Over 95 percent of all shareholders lost 90 percent of this. Some lost 99 percent.

Can't go much lower. Now is the time to buy. If they mention anything positive at all tomorrow, even with expected bad results, these shares will double up before the week is out.

This company has cost a lot of people a lot of money. This week will be interesting. They have some debt and pension deficit issues, but in no way are they going under. They have 4 of the top 11 most recognized brands in furniture.

Lots of pain out there. Gotta buy low.

zillionzmillionz Free

08/05/13 9:48 AM

Post #117

Shareholders are taking it in the rear. Since 2007, Ralph has had steadily increasing compensation. He was paid like the CEO of a $2Billion company in 2007 and he is now paid even more, even though the company is a shell of its former self.

He has saddled the company with an expensive corporate office that just increases overhead. And he has created dozens of executive positions at great cost.

The turnover of talent is scary. Where is HR? The are just covering their hiring errors by hiring more expense. Start with smart downsizing: get rid of the VP of HR. Get rid of Ralph. Combined, they are a $3 million drain on the business. And that is not counting the far grater cost of their errors.

This is now a 30 cent stock (before the latest reverse). Ralph was hired when the stock was $16. Worst corporate implosion today.

gr8f1

08/01/13 2:54 PM

Post #116

Re: #114: @FUNMAN - If FBN goes sub dollar, I will look

Now that was a nice imformative post!

money4nuthin Free

08/01/13 12:03 PM

Post #115

Re: #114: @FUNMAN - If FBN goes sub dollar, I will look

Thanks for the info. Will keep an eye on this one as well.

FUNMAN

08/01/13 11:59 AM

Post #114

Re: #113: @money4nuthin - Didnt they just release some news about joining

If FBN goes sub dollar, I will look at it as a sign of investor disinterest and buy up gobs of stock.

They are still generating over a billion $'s in revenue. Someone should be able to come up with a few good ideas to revitalize some of the products.

Furniture Brands International (NYSE:FBN) is one of the largest manufacturers, designers, sellers and retailers of residential furniture in the U.S. It is headquartered in St. Louis, Missouri, U.S. Some of its well-known brands include Henredon, Thomasville, Drexel-Heritage, Lane Venture, Maitland-Smith, LaBarge, Lane, Hickory, Pearson and Broyhill among others. The company is present in the market through different channels of marketing including its own retail stores under the name of "Thomasville" and also through interior designers, third-party retailers and mass merchants.

The 1:7 split announced on May 29, 2013, reaffirms the "underperform" recommendation on the stock. It is unambiguously obvious that the reverse split was carried out for fear of delisting from the NYSE. However, the latest development puts that risk to rest for the near to medium term.

In reality, it could be said that the reverse split only provides for the stock to fall from higher heights and in higher chunks. The prospects of the company will only improve when its net sales and earnings show some positive momentum. However, contrary to improved performance, the latest products on the block do not resonate same.

In general, it has been observed that companies usually resort to reverse splits in desperate times and not when their fundamentals are strong enough to sail through difficult times. It is evident that the company is buying time to remove the risks of delisting in near-term. However, till the time the company writes a turnaround story, its stunted market capitalization is likely to fall further. The reverse split has reduced the outstanding shares of the company to 8 million from 55 million, thus jeopardizing liquidity further. In addition, we see a widened gap between the bid and the ask price.

Concerns

Challenged Net sales:

The company has registered net sales declines in last 22 quarters out of a total of 25 quarters, including the latest, 1Q2013. The primary reason for decline in sales could be attributed to choppy shipments. The top-priority brand of the company declined 2.0% compared to 4Q2012.

However, the company plans to revamp all the 49 company-owned Thomasville retail stores in the coming twelve months, in an effort to promote the brand as the flagship brand. Thus far in 2013, the company has remodeled 4 of the Thomasville stores.

We would rather suggest improving pricing efforts, greater penetration levels, and channel expansion to perk up the operational performance of the company.

Pressured Margins:

The gross margin declined 427bps to 20.6% in 1Q2013 owing to sales deleveraging of fixed manufacturing costs, higher freight expenses, and increased employee benefits spends. SG&A expenses, though declined compared to last year, were negatively impacted by increased advertising costs. The operating margin plummeted 684bps to -6.3%. Though the company is undertaking several turnaround measures, the most important factor to impact margin remains increase in net sales.

Furniture Brands recently introduced a program to ship full containers carrying different brands directly to its customers from the facilities in Asia where they manufacture, and have started reaping in benefits. This initiative lowers the shipping costs of final products which can be chipped into pricing where the company can sharpen its price points.

Shrinking Balance Sheet:

Cash & equivalents totaled $10.3 million at the end of 1Q2013, a decline of 33.3% YoY. Total liquidity amounted to $60.4 million in 1Q2013, a decline of 30.8% compared to $87.3 million in 4Q2012. Capex increased 28.6% to $1.8 million in 1Q2013 compared to $1.4 million in 1Q2012. Management has lowered the capex guidance to $15 million for FY2013 from its earlier estimation of $18 million, the lowest capex estimated in the last 20 years' history of the company. Free cash flows were a negative $13 million and are expected to remain in red with an additional burden between $20 million and $30 million until the company increases its net sales substantially. Cash for the year 2013 is expected to be sourced through working capital which would be generated by lower inventories.

Early May 2013 remained challenging for the furniture as well as the retail industry at large. However, growth rate is expected to improve a tad year over year given the expected traction in the housing market. In addition, the employment data is also expected to be optimistic. The Memorial Day weekend enthusiastic sales further bolster that view.

Disappointing revenues and pressured operating margins are expected to continue, heightened by the sluggish consumer backdrop. New merchandises and improved housing data are expected to provide tailwinds; however, cash outflows in the near to intermediate term cannot be ruled out. Management has undertaken several restructuring initiatives in the past to push positive results. However, net sales, the key to success, remains challenging. Investors are however advised to sit on the fence, take notice till the company gains traction and shows consistency in its financial results. In addition, the cash flows of the company need to improve substantially.

money4nuthin Free

08/01/13 11:47 AM

Post #113

Re: #112: @FUNMAN - This may go sub-dollar soon.

Didnt they just release some news about joining with Xcel. Maybe things are looking up and the 2.30 is the bottom. Looks like it has leveled off there. JMO

FUNMAN

07/31/13 9:58 PM

Post #112

Re: #106: @Lawrence 147 - Could FBN have hit bottom for now? Parabolic

This may go sub-dollar soon.

It's a lack of faith and interest.

Though there is still substantial revenue, the losses and no signs of reinvigorating the product lines make this a tough turn-around opportunity to buy into.

Lawrence 147 Free

07/31/13 1:42 PM

Post #111

Re: #110: @gr8f1 - Yes we might be looking at low 2s

I don’t know the company has been issued a letter by the NYSE that they have fallen below the acceptable market cap and may be de-listed.
This is either heavy shorting or investors racing fore the door. I am thinking heavy shorting and investors racing for the door. It may jus bust a buck in 30 days.

gr8f1

07/29/13 3:26 PM

Post #110

Re: #108: @Lawrence 147 - I guess the parabolics' don't lie; looks like

Yes we might be looking at low 2s before long...and that could very well be a psychological market bottom. Watching closely.

Lawrence 147 Free

07/26/13 10:18 AM

Post #109

Re: #107: @gr8f1 - I'm beginning to salivate...it's looking juicy!

Deleet Duplicate post.

Lawrence 147 Free

07/26/13 10:18 AM

Post #108

Re: #107: @gr8f1 - I'm beginning to salivate...it's looking juicy!

I guess the parabolics' don't lie; looks like we are shooting for $2.00

gr8f1

07/25/13 2:38 PM

Post #107

Re: #106: @Lawrence 147 - Could FBN have hit bottom for now? Parabolic

I'm beginning to salivate...it's looking juicy!

Lawrence 147 Free

07/25/13 10:45 AM

Post #106

Re: #105: @FUNMAN - FBN is going to be a "buy" soon enought.

Could FBN have hit bottom for now? Parabolic Sar says no not yet but RSI is under 30 and earnings report is out in early Aug.
Housing had picked up last quater so there is an expected market for new furniture.

FUNMAN

06/14/13 11:33 AM

Post #105

Re: #104: @Lawrence 147 - Or not; Looks like some sort of squeeze

FBN is going to be a "buy" soon enought.

They can't continue forever to execute as badly as they have for the past few years.

Lawrence 147 Free

06/12/13 10:58 AM

Post #104

Re: #103: @FUNMAN - Could be sub-dollar in a week.

Or not; Looks like some sort of squeeze going on after yesterdays double bottom.

FUNMAN

06/04/13 2:22 PM

Post #103

Re: #102: @FUNMAN - At this rate FBN might go sub-dollar.

Could be sub-dollar in a week.

Older Newer

Furniture Brands International Inc.(fka FBNIQ)

Followers	12	Posters	51
Posts (Today)	0	Posts (Total)	203
Created	03/23/09	Type	Free
Moderators

http://www.furniturebrands.com/

At Furniture Brands we’re committed to building the most powerful company in the residential furnishings industry and in the process delivering outstanding shareholder value. We will accomplish this by creating elegant and stylish furniture, selling it in a pleasant atmosphere commensurate with the product’s inherent appeal while leveraging the strength of our brand names to the maximum effect.

We have long positioned ourselves as a branded consumer products company, and never in the history of our company has the strength of our brands been more important to our future. Whether the gallery format or the single-branded stores format, our brand names are the very premise upon which our distribution strategy is based. As “permanent billboards,” our single-branded stores and our galleries both strengthen and gain their strength from our outstanding brands.

A distribution strategy is meaningless, however, without exceptional product. To that end we are proud to employ in this company some of the most talented fashion designers in the world. We will continue to invest in research and development and – most importantly – in the talent to deliver to the marketplace innovative products of excellent value.

Our portfolio of brands is far and away the most powerful in the industry. We believe our growing distribution network is second to none. And lastly we believe our product line is unmatched. Taken together this strategy represents opportunity for market share growth and ultimately increased shareholder value.

Our Brands

Broyhill, Creative Interiors, Drexel Heritage, Founders Furniture, Henredon, Hickory Chair, LaBarge, Lane, Laneventure, Maitland-Smith, Pearson Renovations, Thomasville Furniture

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