Krause’s Furniture Cuts Losses in Quarter; Sales Increase 12%

Brea-based Krause’s Furniture, a manufacturer and retailer of custom-crafted furniture, reported that it narrowed its losses in the second fiscal quarter while sales rose 12%.

The company said it lost $1.9 million, or 8 cents a share, in the three months ended Aug. 2, compared with $3 million, or 16 cents a share, for the same period last year. Sales rose to $31.1 million from $27.8 million.

For the first six months, the company posted a net loss of $3.8 million, or 18 cents a share, compared with a year-earlier net loss of $4.6 million, or 24 cents a share. Sales gained 12% to $62.3 million from $55.4 million.

Same-store sales for the second quarter increased 8%. The company opened four new stores during the first half of the year and expects to open 10 more by the end of the year.