Krause’s Loses $1.4 Million in Quarter

Krause’s Furniture Inc., owner of Krause’s Sofa Factory, posted a net loss of $1.4 million, or 34 cents a share, for the third fiscal quarter ended Oct. 29. The company earned $9.1 million, or $1.69 a share, for the like period last year, which included a pretax gain of $12.1 million related to the sale of stock in Mr. Coffee. Sales were down 2% to $31.3 million from $31.9 million. The company said comparable store sales decreased 11% for the period.

For the nine-month period, Krause’s lost $4.5 million, or $1.15 per share, contrasted with net income of $6.3 million, or $1.16 a share, for the corresponding three quarters a year ago. Sales rose 6% to $92.5 million from $87 million.