Selling and administrative expenses increased from $100.4 million in 2004 to $109.1 million in 2005, due to higher expenses in the retail segment including selling and store occupancy costs associated with higher sales volume and eight net new stores opened in 2005. Interest and other income, net, increased slightly from net expense of $1,873,000 in 2004 to $1,888,000 in 2005. Net loss from continuing operations declined to $(9.8) million, or $(0.74) per diluted share, in 2005 compared to net earnings of $816,000, or $0.06 per diluted share in 2004.
The Rowe Companies operates two subsidiaries in the home furnishings industry: Rowe Furniture, Inc., a major manufacturer of quality upholstered furniture serving the middle and upper middle market throughout the U.S.; and Storehouse, Inc., a multi-channel, lifestyle home furnishings business including 69 retail home furnishings stores.
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