8-K

UNITED STATES

 SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

 Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 6, 2015

Stanley Furniture Company, Inc.

(Exact name of registrant as specified in its charter)

Delaware	0-14938	54-1272589
(State or other jurisdiction  of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

200 North Hamilton Street, No. 200  High Point, North Carolina	27260
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (336) 884-7700

________________________________________________________

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02

Results of Operations and Financial Condition.

On April 8, 2015, the Company released a press release preannouncing certain expected results for the 2015 first quarter.  The press release is furnished as Exhibit 99.1 to this Form 8-K and incorporated herein by reference.

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On April 6, 2015, the Compensation and Benefits Committee (the “Committee”) of the Board of Directors Stanley Furniture Company, Inc. (the “Company”), approved a 25% reduction in the 2015 base salary of Glenn Prillaman, President and Chief Executive Officer of the Company (reducing base salary from $320,000 to $240,000) and a 20% reduction in the 2015 base salary for Anita W. Wimmer, Vice President-Finance/Corporate Controller (Principal Financial Officer) (reducing base salary from $180,000 to $144,000), in each case effective April 1, 2015.

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits

99.1

Press Release of the Company dated April 8, 2015, preannouncing certain expected first quarter 2015 results.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.

   STANLEY FURNITURE COMPANY, INC.

Date: April 8, 2015

By:  /s/Anita W. Wimmer            

Anita W. Wimmer

Vice President of Finance

(Principal Financial and Accounting Officer)

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE:          

Stanley Furniture Company, Inc.

April 8, 2015

Investor Contact:  Anita W. Wimmer

 (336) 884-7698

Stanley Furniture Pre-Announces First Quarter Sales and Profitability Results

Company Shares in Weather and Port Strike Effects

High Point, NC, April 8, 2015/Businesswire/ -- Stanley Furniture Company, Inc. (Nasdaq-NGS:STLY) announced today that it expects to report flat first quarter sales from continuing operations and an operating loss driven by the west coast port strike and weather.

The company’s sales remained flat with the prior year quarter as backlog from successful fall product introductions shipped. Order rates fell sharply as the quarter progressed due to bad weather mostly in the northeast and mid-Atlantic. "After building momentum in the fourth quarter of last year and the first month of 2015, our business felt the effect of what was a very tough winter on retail throughout numerous industries," said Glenn Prillaman, President and Chief Executive Officer.

In addition, overseas port congestion caused by the west coast port strikes significantly increased costs as the quarter progressed and will contribute to an operating loss for the quarter. "As we commented mid-quarter when asked about the port strike, we had not yet experienced significant logistic issues as most of our shipments move through the east coast. However, the ripple effect of the issues on the west coast created overseas port congestion. We have since been incurring additional expenses to facilitate shipments to customers and expect to continue to do so until about midway through the second quarter," stated Prillaman.

Outlook

"We are very encouraged by the backlog of orders building for our new nursery and youth product line, and we expect to receive further support from our retail partners in the coming periods as we adjust capacity with our overseas manufacturing partners to accommodate growing demand," said Prillaman. "In the meantime, as our growth plans continue to develop, we are committed to protecting shareholder value. We made adjustments to the company's cost structure late in the quarter to minimize year-to-date losses by the end of second quarter and to generate net profits beginning in the third quarter at the current level of sales."

The Company expects to report first quarter 2015 results after the market closes on May 4, 2015.

About the Company

Established in 1924, Stanley Furniture Company, Inc. is a leading design, marketing and sourcing resource in the upscale segment of the wood residential market. The company offers a diversified product line supported by an overseas sourcing model.  The company distributes and markets its Stanley Furniture brand through a network of carefully chosen retailers and interior designers worldwide.  The company’s common stock is traded on the NASDAQ stock market under the symbol STLY.

Forward-Looking Statements

Certain statements made in this news release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “believes,” “estimates,” “expects,” “may,” “will,” “should,” or “anticipates,” or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy.  These statements reflect our reasonable judgment with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements.  Such risks and uncertainties include disruptions in foreign sourcing including those arising from supply or distribution disruptions or those arising from changes in political, economic and social conditions, as well as laws and regulations, in countries from which we source products, international trade policies of the United States and countries from which we source products, the inability to raise prices in response to inflation and increasing costs, lower sales due to worsening of current economic conditions, the cyclical nature of the furniture industry,  business failures or loss of large customers, failure to anticipate or respond to changes in consumer tastes, fashions and perceived value in a timely manner, competition in the furniture industry, environmental, health, and safety  compliance costs,  failure or interruption of our information technology infrastructure.  Any forward looking statement speaks only as of the date of this news release and we undertake no obligation to update or revise any forward looking statements, whether as a result of new developments or otherwise.