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): January 27, 2003
                                                        (January 22, 2003)

                      Furniture Brands International, Inc.
               (Exact name of Registrant as specified in charter)


        Delaware                   I-91                       43-0337683
------------------------      ---------------        -------------------------
(State of Incorporation)       (Commission                  (IRS Employer
                                File Number)             Identification Number)




                101 South Hanley Road, St. Louis, Missouri 63105
                    (Address of principal executive offices)




                                 (314) 863-1100
                         (Registrant's telephone number)


<PAGE>


Item 5.           Other Matters


     On January 22, 2003, the Company announced operating results for the fourth
quarter and full year ended December 31, 2002.

     Net sales for the fourth quarter of 2002 were $595.5 million, compared with
$476.8 million in the fourth quarter of 2001, an increase of 24.9%. For the full
year, net sales were $2,397.7  million,  compared with $1,891.3  million for the
full year 2001, an increase of 26.8%.  Excluding the impact of Henredon,  Drexel
Heritage  and  Maitland-Smith,  which the  Company  acquired  as of the close of
business  on  December  28,  2001,  the  Company's  sales  (Broyhill,  Lane  and
Thomasville)  showed  year-over-year  growth of 5.6% in the quarter and 6.4% for
the full year.

     Net earnings for the fourth quarter were $29.3 million as compared to $22.8
million in the fourth  quarter of last year.  Diluted  net  earnings  per common
share were $0.52 as compared to $0.44 in the fourth quarter of 2001, an increase
of 18.2%.  Excluding all restructuring  charges and certain non-operating income
(accounted  for within "Other  income,  net")  recorded in the fourth quarter of
2001, the Company's  diluted net earnings per common share in that quarter would
have been $0.40.  Effective January 1, 2002, the Company adopted FAS #142, which
eliminated  the  amortization  of  goodwill  and other  intangible  assets  with
indefinite lives. Had FAS #142 been effective in the fourth quarter of 2001, and
excluding the restructuring  charges and  non-operating  income mentioned above,
diluted net  earnings  per common  share in the  quarter  would have been $0.46,
indicating a 13.0% increase in 2002 diluted net earnings per common share versus
the comparable period in 2001.

     Net  earnings  for the full  year  2002 were  $118.8  million  or $2.11 per
diluted common share as compared to $58.0  million,  or $1.13 per diluted common
share for 2001. Had FAS #142 been effective for all of 2001, and excluding asset
impairment  and other  restructuring  charges as well as  non-operating  income,
diluted net earnings per common share would have been $1.58,  indicating a 33.5%
increase for the full year 2002 versus 2001.

     The Company also announced that its current  projections expect sales to be
flat and earnings  per share in the first  quarter of 2003 to be in the $0.55 to
$0.60 range as compared to $0.58 in the first  quarter of 2002.  Sales growth in
the  mid-single  digits and  earnings  per share in the $2.40 to $2.50  range is
expected for the full year 2003.


Item 7. Financial Statements and Exhibits

          (c)  Exhibit

               99   Press Release, dated January 22, 2003





<PAGE>


                                    SIGNATURE




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




                                    Furniture Brands International, Inc.




                                By:  /s/  Steven W. Alstadt
                                    -----------------------------------------
                                     Steven W. Alstadt
                                     Controller and Chief Accounting Officer





Dated:  January 27, 2003

<page>


INFORMATION

FOR IMMEDIATE RELEASE






                     FURNITURE BRANDS INTERNATIONAL REPORTS
          SALES AND EARNINGS FOR THE FOURTH QUARTER AND FULL YEAR 2002



St.  Louis,  Missouri,  January  22,  2003  --  Furniture  Brands  International
(NYSE:FBN) announced today its financial results for the fourth quarter and full
year ended December 31, 2002.

Net Sales

Net sales for the fourth  quarter of 2002 were  $595.5  million,  compared  with
$476.8 million in the fourth quarter of 2001, an increase of 24.9%. For the full
year, net sales were $2,397.7  million,  compared with $1,891.3  million for the
full year 2001, an increase of 26.8%.  Excluding the impact of Henredon,  Drexel
Heritage  and  Maitland-Smith,  which the  company  acquired  as of the close of
business  on  December  28,  2001,  the  company's  sales  (Broyhill,  Lane  and
Thomasville)  showed  year-over-year  growth of 5.6% in the quarter and 6.4% for
the full year.

Net Earnings

Net earnings for the fourth  quarter  were $29.3  million,  as compared to $22.8
million in the fourth  quarter of last year.  Diluted  net  earnings  per common
share  were  $0.52 as  compared  to $0.44 for the  fourth  quarter  of 2001,  an
increase of 18.2%. Excluding all restructuring charges and certain non-operating
income (accounted for within "Other income, net") recorded in the fourth quarter
of 2001,  the  company's  diluted net  earnings per common share in that quarter
would have been $0.40.  Effective January 1, 2002, the company adopted FAS #142,
which eliminated the  amortization of goodwill and other intangible  assets with
indefinite lives. Had FAS #142 been effective in the fourth quarter of 2001, and
excluding the restructuring  charges and  non-operating  income mentioned above,
diluted net  earnings  per common  share in the  quarter  would have been $0.46,
indicating a 13.0% increase in 2002 diluted net earnings per common share versus
the comparable period in 2001.

Net  earnings  for the full year 2002 were  $118.8  million or $2.11 per diluted
common share as compared to $58.0 million, or $1.13 per diluted common share for
2001.  Had  FAS  #142  been  effective  for all of  2001,  and  excluding  asset
impairment  and other  restructuring  charges as well as  non-operating  income,
diluted net earnings per common share would have been $1.58,  indicating a 33.5%
increase for the full year 2002 versus 2001.

Management Comments

W.G.  (Mickey)  Holliman,  Chairman,  President and Chief  Executive  Officer of
Furniture  Brands   International,   stated:   "Despite  a  difficult   business
environment,  2002 was a  successful  year for  Furniture  Brands.  Record sales
volume was  achieved in our  middle-price  companies - Broyhill  and Lane.  Both
companies   demonstrated  sustained  strength  throughout  the  year  with  Lane
recording extraordinary  performance.  By comparison,  however, our companies at
the upper-end -- Thomasville,  Drexel Heritage,  Henredon and  Maitland-Smith --
reported sales  essentially  flat or down from 2001,  tracking the softness that
has affected the upper-end throughout our industry for nearly two years.

"During 2002,  Furniture Brands continued its aggressive cost reduction  program
at each  operating  company.  As a result,  we expect  operating  profit  margin
improvement to continue in 2003, even in a flat sales environment."

Mr.  Holliman  continued,  "During the year, we  solidified  our position as the
industry  leader  in  off-shore   sourcing  by  partnering,   through  strategic
alliances, with a limited number of the best manufacturers producing exceptional
products  at   significant   values  to  the  consumer.   Our  quality   control
infrastructure in the Far East,  represented by Furniture Brands Import Services
Organization  (FBISO),  gives us a  distinct  competitive  advantage  over those
manufacturers and retailers who import products without adequate quality control
oversight.  At the same time, on the  distribution  side, we continued to expand
our dedicated retail space -- currently representing 13 million-plus square feet
-- through  free-standing stores and galleries across the country and beyond our
borders,  further  solidifying our relationships  with the best retailers in the
industry.  This 'locked-in' retail floor space provides us with a secure base of
distribution,  as other  domestic  competitors  seek to  replicate  our sourcing
programs  and as Far  East  manufacturers  may  seek to sell  directly  into the
domestic retail market. Our strategic  initiatives in sourcing and distribution,
along with our powerful  brands,  leverage our  competitive  advantage to expand
market share penetration."

Outlook for 2003

Mr. Holliman continued, "Based on incoming order trends and discussions with our
retail  partners,  we see no improvement in the current business climate for the
near term. We will, therefore,  grow our earnings by capturing market share with
innovative,  quality products, which will be a value to consumers across all the
price points our operating companies serve. We will also continue our relentless
pursuit to drive non-value added costs out of our various operations, whether in
manufacturing, sales or administrative functions.

"At present,  due to the continuing  soft business  environment at the upper-end
and difficult  year-over-year  comparisons in our  middle-price  businesses,  we
foresee flat sales for the first quarter of 2003.  We expect  earnings per share
in the first  quarter to be in the $0.55 to $0.60  range as compared to $0.58 in
the first quarter of 2002. Our  expectation  for the full year 2003 is for sales
growth in the mid-single digits and for earnings per share in the $2.40 to $2.50
range. We will update this guidance, as is our usual custom, in early March."

Mr.  Holliman  concluded,  "Without  question,  the last  two  years  have  been
challenging for our company and our industry. However, Furniture Brands enjoys a
solid  financial  position  and a clear  strategic  vision.  I am  proud  of our
outstanding  management  team  - the  strongest  in  our  industry  - for  their
dedication to the company, its products, its customers and its shareholders.  We
will  continue to build on our position as the furniture  industry's  undisputed
leader."

Furniture   Brands   International   is  America's   largest  home   furnishings
manufacturer,   manufacturing  and  sourcing  its  products  under  six  of  the
best-known brand names in the industry - Broyhill, Lane, Thomasville,  Henredon,
Drexel  Heritage and  Maitland-Smith.  The company markets its products across a
broad  spectrum of price  categories  and  distributes  its products  through an
extensive system of independently owned national, regional and local retailers.

This release contains forward-looking statements within the meaning of the "safe
harbor"  provisions  of the Private  Securities  Litigation  Reform Act of 1995.
These  forward-looking  statements  include the company's  expected earnings per
share, the prospects for the overall business environment,  and other statements
containing the words  "expects,"  "anticipates,"  "estimates,"  "believes,"  and
words  of  similar  import.   The  company  cautions  investors  that  any  such
forward-looking  statements  are not guarantees of future  performance  and that
certain factors may cause actual results to differ  materially from those in the
forward-looking  statements.  Such  factors may  include:  overall  business and
economic  conditions and growth in the furniture  industry;  changes in customer
spending patterns and demand for home furnishings;  competitive factors, such as
design  and  marketing  efforts  by  other  furniture   manufacturers;   pricing
pressures;  success of the marketing  efforts of retailers and the prospects for
further  customer  failures;  the  company's  success  in  furniture  design and
manufacture;   the  effects  of  manufacturing  realignments  and  cost  savings
programs;  and other  risk  factors  listed  from time to time in the  company's
public  releases and SEC reports,  including  but not limited to the most recent
reports on Forms 10-Q and 10-K.  The company also  cautions  investors  that our
forecast  for the first  quarter and the full year 2003  represents  our outlook
only as of this date,  and we  undertake no  obligation  to update or revise any
forward-looking  statements,   whether  as  a  result  of  new  developments  or
otherwise.

<PAGE>
<TABLE>
<CAPTION>


                         FURNITURE BRANDS INTERNATIONAL

                         CONSOLIDATED OPERATING RESULTS
                     (Dollars in thousands except per share)




                                                                       Three Months Ended                 Twelve Months Ended
                                                                              December 31,                        December 31,
                                                                       2002              2001               2002             2001
                                                                    ------------      ------------     --------------    -----------

<S>                                                                   <C>               <C>              <C>              <C>
   Net sales......................................................    $595,491          $476,801         $2,397,709       $1,891,313
   Costs and expenses:
     Cost of operations...........................................     430,987           354,395          1,721,714        1,387,632
     Selling, general and administrative expenses.................     102,009            79,443            424,329          330,835
     Depreciation and amortization ...............................      12,426            12,237             49,266           55,767
     Asset impairment charges.....................................        -                _-                  -              18,000
                                                                    ------------     -------------      -------------    -----------
   Earnings from operations.......................................      50,069            30,726            202,400           99,079

   Interest expense...............................................       5,250             4,479             21,732           21,984
   Other income, net..............................................         775             8,390              3,756           10,599
                                                                    ------------     -------------      --------------   -----------
   Earnings before income tax expense.............................      45,594            34,637            184,424           87,694
   Income tax expense.............................................      16,277            11,806             65,593           29,664
                                                                    ------------     ------------       -------------    -----------
   Net earnings...................................................    $ 29,317         $  22,831        $   118,831      $    58,030
                                                                    ===========      ============       ============     ===========

   Net earnings per common share (diluted)........................      $ 0.52            $ 0.44             $ 2.11           $ 1.13
                                                                        ======            ======             ======           ======

   Average diluted common shares
     outstanding (in thousands)...................................      56,108            51,526             56,387           51,325
                                                                        ======            ======             ======           ======



Note:Effective   January  1,  2002,  the  company   adopted  FAS  142  regarding
     amortization of goodwill and other  intangible  assets.  If this accounting
     change had  occurred  effective  January 1, 2001,  the  company  would have
     reported  diluted net  earnings per common share of $0.50 and $1.35 for the
     three-month and twelve-month periods ended December 31, 2001, respectively.
</TABLE>


<PAGE>

<TABLE>
<CAPTION>


                         FURNITURE BRANDS INTERNATIONAL

                      CONSOLIDATED CONDENSED BALANCE SHEETS
                             (Dollars in thousands)





                                                                                    December 31,           December 31,
                                                                                            2002                   2001
                                                                               -----------------      -----------------
Assets

Current assets:
<S>                                                                                 <C>                    <C>
  Cash and cash equivalents.........................................                $     15,074           $     15,707
  Receivables, net..................................................                     375,050                359,493
  Inventories.......................................................                     432,104                369,773
  Prepaid expenses and other current assets.........................                      27,231                 33,742
                                                                                   -------------          -------------
    Total current assets............................................                     849,459                778,715
Net property, plant and equipment ..................................                     333,371                321,640
Intangible assets...................................................                     355,488                367,305
Other assets........................................................                      29,084                 35,829
                                                                                   -------------          -------------
                                                                                      $1,567,402             $1,503,489
                                                                                      ==========             ==========

Liabilities and Shareholders' Equity

Current liabilities:
  Accrued interest expense .........................................                $      3,018           $      2,805
  Accounts payable and other accrued expenses ......................                     194,346                172,490
                                                                                    ------------            -----------
    Total current liabilities.......................................                     197,364                175,295
Long-term debt .....................................................                     374,800                454,400
Other long-term liabilities.........................................                     125,723                114,135

Shareholders' equity ...............................................                     869,515                759,659
                                                                                    ------------           ------------
                                                                                      $1,567,402             $1,503,489
                                                                                      ==========             ==========
</TABLE>
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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): January 27, 2003
                                                        (January 22, 2003)

                      Furniture Brands International, Inc.
               (Exact name of Registrant as specified in charter)

        Delaware                   I-91                       43-0337683
------------------------      ---------------        -------------------------
(State of Incorporation)       (Commission                  (IRS Employer
                                File Number)             Identification Number)

                101 South Hanley Road, St. Louis, Missouri 63105
                    (Address of principal executive offices)

                                 (314) 863-1100
                         (Registrant's telephone number)
Item 5.           Other Matters

     On January 22, 2003, the Company announced operating results for the fourth
quarter and full year ended December 31, 2002.

     Net sales for the fourth quarter of 2002 were $595.5 million, compared with
$476.8 million in the fourth quarter of 2001, an increase of 24.9%. For the full
year, net sales were $2,397.7  million,  compared with $1,891.3  million for the
full year 2001, an increase of 26.8%.  Excluding the impact of Henredon,  Drexel
Heritage  and  Maitland-Smith,  which the  Company  acquired  as of the close of
business  on  December  28,  2001,  the  Company's  sales  (Broyhill,  Lane  and
Thomasville)  showed  year-over-year  growth of 5.6% in the quarter and 6.4% for
the full year.

     Net earnings for the fourth quarter were $29.3 million as compared to $22.8
million in the fourth  quarter of last year.  Diluted  net  earnings  per common
share were $0.52 as compared to $0.44 in the fourth quarter of 2001, an increase
of 18.2%.  Excluding all restructuring  charges and certain non-operating income
(accounted  for within "Other  income,  net")  recorded in the fourth quarter of
2001, the Company's  diluted net earnings per common share in that quarter would
have been $0.40.  Effective January 1, 2002, the Company adopted FAS #142, which
eliminated  the  amortization  of  goodwill  and other  intangible  assets  with
indefinite lives. Had FAS #142 been effective in the fourth quarter of 2001, and
excluding the restructuring  charges and  non-operating  income mentioned above,
diluted net  earnings  per common  share in the  quarter  would have been $0.46,
indicating a 13.0% increase in 2002 diluted net earnings per common share versus
the comparable period in 2001.

     Net  earnings  for the full  year  2002 were  $118.8  million  or $2.11 per
diluted common share as compared to $58.0  million,  or $1.13 per diluted common
share for 2001. Had FAS #142 been effective for all of 2001, and excluding asset
impairment  and other  restructuring  charges as well as  non-operating  income,
diluted net earnings per common share would have been $1.58,  indicating a 33.5%
increase for the full year 2002 versus 2001.

     The Company also announced that its current  projections expect sales to be
flat and earnings  per share in the first  quarter of 2003 to be in the $0.55 to
$0.60 range as compared to $0.58 in the first  quarter of 2002.  Sales growth in
the  mid-single  digits and  earnings  per share in the $2.40 to $2.50  range is
expected for the full year 2003.

Item 7. Financial Statements and Exhibits

          (c)  Exhibit

               99   Press Release, dated January 22, 2003
SIGNATURE

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

                                    Furniture Brands International, Inc.

                                By:  /s/  Steven W. Alstadt
                                    -----------------------------------------
                                     Steven W. Alstadt
                                     Controller and Chief Accounting Officer

Dated:  January 27, 2003
INFORMATION

FOR IMMEDIATE RELEASE

                     FURNITURE BRANDS INTERNATIONAL REPORTS
          SALES AND EARNINGS FOR THE FOURTH QUARTER AND FULL YEAR 2002

St.  Louis,  Missouri,  January  22,  2003  --  Furniture  Brands  International
(NYSE:FBN) announced today its financial results for the fourth quarter and full
year ended December 31, 2002.

Net Sales

Net sales for the fourth  quarter of 2002 were  $595.5  million,  compared  with
$476.8 million in the fourth quarter of 2001, an increase of 24.9%. For the full
year, net sales were $2,397.7  million,  compared with $1,891.3  million for the
full year 2001, an increase of 26.8%.  Excluding the impact of Henredon,  Drexel
Heritage  and  Maitland-Smith,  which the  company  acquired  as of the close of
business  on  December  28,  2001,  the  company's  sales  (Broyhill,  Lane  and
Thomasville)  showed  year-over-year  growth of 5.6% in the quarter and 6.4% for
the full year.

Net Earnings

Net earnings for the fourth  quarter  were $29.3  million,  as compared to $22.8
million in the fourth  quarter of last year.  Diluted  net  earnings  per common
share  were  $0.52 as  compared  to $0.44 for the  fourth  quarter  of 2001,  an
increase of 18.2%. Excluding all restructuring charges and certain non-operating
income (accounted for within "Other income, net") recorded in the fourth quarter
of 2001,  the  company's  diluted net  earnings per common share in that quarter
would have been $0.40.  Effective January 1, 2002, the company adopted FAS #142,
which eliminated the  amortization of goodwill and other intangible  assets with
indefinite lives. Had FAS #142 been effective in the fourth quarter of 2001, and
excluding the restructuring  charges and  non-operating  income mentioned above,
diluted net  earnings  per common  share in the  quarter  would have been $0.46,
indicating a 13.0% increase in 2002 diluted net earnings per common share versus
the comparable period in 2001.

Net  earnings  for the full year 2002 were  $118.8  million or $2.11 per diluted
common share as compared to $58.0 million, or $1.13 per diluted common share for
2001.  Had  FAS  #142  been  effective  for all of  2001,  and  excluding  asset
impairment  and other  restructuring  charges as well as  non-operating  income,
diluted net earnings per common share would have been $1.58,  indicating a 33.5%
increase for the full year 2002 versus 2001.

Management Comments

W.G.  (Mickey)  Holliman,  Chairman,  President and Chief  Executive  Officer of
Furniture  Brands   International,   stated:   "Despite  a  difficult   business
environment,  2002 was a  successful  year for  Furniture  Brands.  Record sales
volume was  achieved in our  middle-price  companies - Broyhill  and Lane.  Both
companies   demonstrated  sustained  strength  throughout  the  year  with  Lane
recording extraordinary  performance.  By comparison,  however, our companies at
the upper-end -- Thomasville,  Drexel Heritage,  Henredon and  Maitland-Smith --
reported sales  essentially  flat or down from 2001,  tracking the softness that
has affected the upper-end throughout our industry for nearly two years.

"During 2002,  Furniture Brands continued its aggressive cost reduction  program
at each  operating  company.  As a result,  we expect  operating  profit  margin
improvement to continue in 2003, even in a flat sales environment."

Mr.  Holliman  continued,  "During the year, we  solidified  our position as the
industry  leader  in  off-shore   sourcing  by  partnering,   through  strategic
alliances, with a limited number of the best manufacturers producing exceptional
products  at   significant   values  to  the  consumer.   Our  quality   control
infrastructure in the Far East,  represented by Furniture Brands Import Services
Organization  (FBISO),  gives us a  distinct  competitive  advantage  over those
manufacturers and retailers who import products without adequate quality control
oversight.  At the same time, on the  distribution  side, we continued to expand
our dedicated retail space -- currently representing 13 million-plus square feet
-- through  free-standing stores and galleries across the country and beyond our
borders,  further  solidifying our relationships  with the best retailers in the
industry.  This 'locked-in' retail floor space provides us with a secure base of
distribution,  as other  domestic  competitors  seek to  replicate  our sourcing
programs  and as Far  East  manufacturers  may  seek to sell  directly  into the
domestic retail market. Our strategic  initiatives in sourcing and distribution,
along with our powerful  brands,  leverage our  competitive  advantage to expand
market share penetration."

Outlook for 2003

Mr. Holliman continued, "Based on incoming order trends and discussions with our
retail  partners,  we see no improvement in the current business climate for the
near term. We will, therefore,  grow our earnings by capturing market share with
innovative,  quality products, which will be a value to consumers across all the
price points our operating companies serve. We will also continue our relentless
pursuit to drive non-value added costs out of our various operations, whether in
manufacturing, sales or administrative functions.

"At present,  due to the continuing  soft business  environment at the upper-end
and difficult  year-over-year  comparisons in our  middle-price  businesses,  we
foresee flat sales for the first quarter of 2003.  We expect  earnings per share
in the first  quarter to be in the $0.55 to $0.60  range as compared to $0.58 in
the first quarter of 2002. Our  expectation  for the full year 2003 is for sales
growth in the mid-single digits and for earnings per share in the $2.40 to $2.50
range. We will update this guidance, as is our usual custom, in early March."

Mr.  Holliman  concluded,  "Without  question,  the last  two  years  have  been
challenging for our company and our industry. However, Furniture Brands enjoys a
solid  financial  position  and a clear  strategic  vision.  I am  proud  of our
outstanding  management  team  - the  strongest  in  our  industry  - for  their
dedication to the company, its products, its customers and its shareholders.  We
will  continue to build on our position as the furniture  industry's  undisputed
leader."

Furniture   Brands   International   is  America's   largest  home   furnishings
manufacturer,   manufacturing  and  sourcing  its  products  under  six  of  the
best-known brand names in the industry - Broyhill, Lane, Thomasville,  Henredon,
Drexel  Heritage and  Maitland-Smith.  The company markets its products across a
broad  spectrum of price  categories  and  distributes  its products  through an
extensive system of independently owned national, regional and local retailers.

This release contains forward-looking statements within the meaning of the "safe
harbor"  provisions  of the Private  Securities  Litigation  Reform Act of 1995.
These  forward-looking  statements  include the company's  expected earnings per
share, the prospects for the overall business environment,  and other statements
containing the words  "expects,"  "anticipates,"  "estimates,"  "believes,"  and
words  of  similar  import.   The  company  cautions  investors  that  any  such
forward-looking  statements  are not guarantees of future  performance  and that
certain factors may cause actual results to differ  materially from those in the
forward-looking  statements.  Such  factors may  include:  overall  business and
economic  conditions and growth in the furniture  industry;  changes in customer
spending patterns and demand for home furnishings;  competitive factors, such as
design  and  marketing  efforts  by  other  furniture   manufacturers;   pricing
pressures;  success of the marketing  efforts of retailers and the prospects for
further  customer  failures;  the  company's  success  in  furniture  design and
manufacture;   the  effects  of  manufacturing  realignments  and  cost  savings
programs;  and other  risk  factors  listed  from time to time in the  company's
public  releases and SEC reports,  including  but not limited to the most recent
reports on Forms 10-Q and 10-K.  The company also  cautions  investors  that our
forecast  for the first  quarter and the full year 2003  represents  our outlook
only as of this date,  and we  undertake no  obligation  to update or revise any
forward-looking  statements,   whether  as  a  result  of  new  developments  or
otherwise.
FURNITURE BRANDS INTERNATIONAL

                         CONSOLIDATED OPERATING RESULTS
                     (Dollars in thousands except per share)

                                                                       Three Months Ended                 Twelve Months Ended
                                                                              December 31,                        December 31,
                                                                       2002              2001               2002             2001
                                                                    ------------      ------------     --------------    -----------
Net sales......................................................    $595,491          $476,801         $2,397,709       $1,891,313
   Costs and expenses:
     Cost of operations...........................................     430,987           354,395          1,721,714        1,387,632
     Selling, general and administrative expenses.................     102,009            79,443            424,329          330,835
     Depreciation and amortization ...............................      12,426            12,237             49,266           55,767
     Asset impairment charges.....................................        -                _-                  -              18,000
                                                                    ------------     -------------      -------------    -----------
   Earnings from operations.......................................      50,069            30,726            202,400           99,079

   Interest expense...............................................       5,250             4,479             21,732           21,984
   Other income, net..............................................         775             8,390              3,756           10,599
                                                                    ------------     -------------      --------------   -----------
   Earnings before income tax expense.............................      45,594            34,637            184,424           87,694
   Income tax expense.............................................      16,277            11,806             65,593           29,664
                                                                    ------------     ------------       -------------    -----------
   Net earnings...................................................    $ 29,317         $  22,831        $   118,831      $    58,030
                                                                    ===========      ============       ============     ===========

   Net earnings per common share (diluted)........................      $ 0.52            $ 0.44             $ 2.11           $ 1.13
                                                                        ======            ======             ======           ======

   Average diluted common shares
     outstanding (in thousands)...................................      56,108            51,526             56,387           51,325
                                                                        ======            ======             ======           ======

Note:Effective   January  1,  2002,  the  company   adopted  FAS  142  regarding
     amortization of goodwill and other  intangible  assets.  If this accounting
     change had  occurred  effective  January 1, 2001,  the  company  would have
     reported  diluted net  earnings per common share of $0.50 and $1.35 for the
     three-month and twelve-month periods ended December 31, 2001, respectively.
FURNITURE BRANDS INTERNATIONAL

                      CONSOLIDATED CONDENSED BALANCE SHEETS
                             (Dollars in thousands)

                                                                                    December 31,           December 31,
                                                                                            2002                   2001
                                                                               -----------------      -----------------
Assets

Current assets:
Cash and cash equivalents.........................................                $     15,074           $     15,707
  Receivables, net..................................................                     375,050                359,493
  Inventories.......................................................                     432,104                369,773
  Prepaid expenses and other current assets.........................                      27,231                 33,742
                                                                                   -------------          -------------
    Total current assets............................................                     849,459                778,715
Net property, plant and equipment ..................................                     333,371                321,640
Intangible assets...................................................                     355,488                367,305
Other assets........................................................                      29,084                 35,829
                                                                                   -------------          -------------
                                                                                      $1,567,402             $1,503,489
                                                                                      ==========             ==========

Liabilities and Shareholders' Equity

Current liabilities:
  Accrued interest expense .........................................                $      3,018           $      2,805
  Accounts payable and other accrued expenses ......................                     194,346                172,490
                                                                                    ------------            -----------
    Total current liabilities.......................................                     197,364                175,295
Long-term debt .....................................................                     374,800                454,400
Other long-term liabilities.........................................                     125,723                114,135

Shareholders' equity ...............................................                     869,515                759,659
                                                                                    ------------           ------------
                                                                                      $1,567,402             $1,503,489
                                                                                      ==========             ==========