The Rowe Companies Announces Board of Directors Change and New Audit Committee Chairman
November 11 2005 - 10:44AM
PR Newswire (US)
MCLEAN, Va., Nov. 11 /PRNewswire-FirstCall/ -- The Rowe Companies
(AMEX:ROW), a leading furniture manufacturer and home furnishings
retailer, announced today that Board member and Chairman of the
Audit Committee, Mr. Allan Tofias, passed away on November 1, 2005.
As a result, at a Board of Directors meeting held yesterday,
Director Gerald O. Woodlief was appointed to the Audit Committee
and Director Charles T. Rosen was appointed as Chairman of the
Audit Committee. 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 67
retail home furnishings stores. Storehouse makes good design
accessible by selling an edited assortment of casual, contemporary
home furnishings through its stores located in the Southeast,
Southwest and Mid- Atlantic markets, its catalog and over the
internet. Statements in this press release concerning Rowe's
business outlook or future economic performance, anticipated
profitability, revenues, expenses or other financial items;
together with other statements that are not historical facts, are
"forward-looking statements" as that term is defined under Federal
Securities Laws. "Forward-looking statements" are subject to risks,
uncertainties and other factors which could cause actual results to
differ materially from those stated in such statements. Such risks,
uncertainties and factors include, but are not limited to, industry
cyclicality, fluctuations in customer demand and order patterns,
the seasonal nature of the business, changes in pricing, and
general economic conditions, as well as other risks detailed in
Rowe's filings with the Securities and Exchange Commission.
DATASOURCE: The Rowe Companies CONTACT: Gene S. Morphis, Chief
Financial Officer of The Rowe Companies, +1-703-847-8670 Web site:
http://www.therowecompanies.com/
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