Furniture retailer Jennifer Convertibles Inc. said Tuesday it lost $505,000 in its fiscal first quarter, which ended November 24, but that the loss was less than the $637,000 deficit it report in the same period last year.
The Woodbury-based company, owner of the largest group of sofabed specialty stores in the country, said the decrease in the net loss was the result of a $146,000 gain in net income from its Ashley Furniture HomeStore, which it opened in 2007 in Carle Place.
On a per-share basis, Jennifer said it lost 7 cents, compared to a loss of 9 cents in the same period last year.
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