Stanley Furniture Sees Q1 Sales Flat, Operating Loss Due To West Coast Port Dispute

Stanley Furniture Co. Inc. said Wednesday it expects to post a first-quarter operating loss and flat sales, mostly due to the fallout from the West Coast port dispute. "After building momentum in the fourth quarter of last year and the first month of 2015, our business felt the effect of what was a very tough winter on retail throughout numerous industries," Chief Executive Glenn Prillaman said in a statement. Congestion caused by the port dispute raised costs significantly as the quarter progressed, contributing to the expected operating loss. But the company is encouraged by its order backlog in its new nursery and youth product line, he said. Shares were inactive in after-hours trade but are up 14% in the year so far, while the S&P 500 has gained 1.2%.

Copyright © 2015 MarketWatch, Inc.