Ashley gives Jennifer a hand
Jennifer Convertibles on Broad Hollow Road in Farmingdale. Credit: Newsday File / Karen Wiles Stabile
Jennifer Convertibles on Broad Hollow Road in Farmingdale. (Newsday File Photo/Karen Wiles Stabile)
Most sales growth for Jennifer Convertibles Inc. came from its new Ashley Furniture HomeStores division, the company disclosed in an unaudited earnings report this week.
Delisted from the Amex stock exchange in March, the Woodbury-based sofa maker Jennifer Convertibles on Tuesday reported that in the second quarter of its fiscal year, ending Feb. 27, it sold more merchandise — but lost more money — than in the same quarter last year.
Jennifer opened its fifth Ashley Furniture store last quarter, in Brooklyn; and plans to add one more in Brooklyn and another in Manhattan within the next six months.
The company also disclosed that during the quarter it closed four Jennifer Furniture stores — two in New York, one in Arizona and one in California.
For the second quarter the company’s unaudited report shows a net loss of $6.4 million compared to a loss of $2.3 million in the year-ago quarter. That came on revenues of $25.2 million for the quarter, compared to $22.7 million in the same quarter last year.
Sarra Sounds Off, Ep. 17: Olympics a possibility for Long Beach wrestler? On the latest episode of "Sarra Sounds Off," Newsday's Gregg Sarra talks with Long Beach wrestler Dunia Sibomana-Rodriguez about pursuing a third state title and possibly competing in the Olympics in 2028, plus Jared Valluzzi has the plays of the week.
Sarra Sounds Off, Ep. 17: Olympics a possibility for Long Beach wrestler? On the latest episode of "Sarra Sounds Off," Newsday's Gregg Sarra talks with Long Beach wrestler Dunia Sibomana-Rodriguez about pursuing a third state title and possibly competing in the Olympics in 2028, plus Jared Valluzzi has the plays of the week.
