Monroe, Michigan based furniture manufacturer La-Z-Boy Inc (NYSE: LZB) announced on Tuesday that its second quarter net loss widened to $53.7 million or $1.04 per share from $9.9 million or 19 cents per share in the same quarter a year ago. Excluding 78 cents in charges related to La-Z-Boy's deferred tax assets and restructuring, it had an adjusted loss of 26 cents per share. Analysts, on an average had expected the company to posted adjusted profit of 1 cent. Revenue dropped 9.2% to $331.9 million. President and chief executive Kurt Darrow said in a statement "over the course of the quarter, we experienced a progressive decline in sales trends, particularly in October, as sales deteriorated in conjunction with the turmoil in the global financial and credit markets." The CEO also said that the company is suspending annual forecasts due to the difficulty of tracking incoming order rates and falling consumer confidence.

Late on Tuesday, Fast-food chain Jack in the Box Inc. (NYSE: JBX) reported that its fourth-quarter profit grew to $26.9 million or 47 cents a share, from $26.8 million, or 43 cents a share, in the year-ago period. Fourth quarter results included a negative impact of approximately $0.04 to $0.05 per share for losses and costs related to Hurricane Ike. Sales decreased to $582.7 million from $588.1 million last year. Analysts on an average were looking for a quarterly profit of 45 cents a share on revenue of $691.4 million. During the quarter Kurt Darrow same-store sales fell 0.8%, compared to a 5.2% increase in the fourth quarter of 2007. For the full year, Jack in the Box posted net income of $119.28 million, lower than $125.58 million in the same period a year ago. However, earnings per share rose to $2.05 per share from $1.92 per share in the year ago period, because of lower share count. For the full year, sales rose to $2.54 billion from $2.51 billion in the same period last year. Consensus expectations were for net income of $2.00 a share and $3.00 billion in revenue for the year. Chairman and chief executive officer Linda A. Lang said "sales and traffic continue to be negatively impacted by the current economic crisis.” She added further "while we’ve seen some easing in fuel costs, unemployment continues to rise, and consumers have become much more conservative in their discretionary spending. As a result, we remain cautious on how aggressively we take price increases in this environment. On an encouraging note, trends in California continued to improve during the fourth quarter, with same-store sales turning positive.”  Shares of Jack in the Box fell 1.38% in after hours trade.

Phillips-Van Heusen Corp. (NYSE: PVH) said that its third quarter net income fell 12% to $53.7 million, or $1.03 per share, for the quarter ended Nov. 2, from $60.9 million, or $1.05 per share, in the year ago period.