Mixed results at Jennifer Convertibles
American leather furniture and sofa bed retailer Jennifer Convertibles, Inc. has reported mixed results for the fourth quarter and full year, ended August 25.
Although fourth quarter revenue from continuing operations increased 3.9% to $37.5 million, it slipped 2.2% to $136.6 million for the fiscal year.
Despite the fall in full year revenues, the company’s chief executive Harley Greenfield was satisfied with the results in view of the current retail environment, stating, "I am extremely pleased to report the results for the fourth quarter and fiscal year. Our industry has been under extreme pressure for some time, which has impacted our comparable store sales numbers. Despite this downturn in the industry we have been able to maintain our profitability due to cost cutting, supply chain management and adjusting our merchandising and advertising strategies.”
Jennifer Convertibles owns and licenses 165 Jennifer Convertibles stores and 16 Jennifer Leather stores across the USA.
