Exhibit 99.1

Furniture Brands International, Inc.

1 North Brentwood Blvd.

St. Louis, Missouri 63105

For Further Information Call

Steven G. Rolls

Furniture Brands

Chief Financial Officer

314-889-3520

or

Farah Soi

ICR

203-682-8200

FURNITURE BRANDS INTERNATIONAL REPORTS

FOURTH QUARTER AND FULL YEAR 2011 FINANCIAL RESULTS

St. Louis, Missouri, February 9, 2012 — Furniture Brands International (NYSE: FBN) today announced financial results for the fourth quarter and full year ended December 31, 2011.

Mr. Ralph Scozzafava, Chairman and CEO stated, “2011 has been a year defined by continued progress on the cost and efficiency fronts but importantly, it also was a year where we made key investments to strengthen our infrastructure and improve our competitiveness for the long term.”

“Looking to 2012, our priority as an organization is to drive profitable sales. The progress we have made to reduce our operating losses the last few years has been driven by actions taken to align our cost structure with our revenue base, improve the efficiency of our manufacturing operations and drive profitable sales. This year we will focus on delivering the right product at the right price to the right retailers. We expect to improve our operational performance and generate positive free cash flow as we continue to make progress on the path to profitability,” Mr. Scozzafava concluded.

Net sales for the fourth quarter of 2011 were $255.5 million, a decline of 7.4% compared to net sales of $276.1 million in the fourth quarter of 2010. Fourth quarter 2011 retail sales at the 64 company-owned stores and showrooms totaled $34.6 million compared with retail sales of $38.8 million at 67 company owned stores and showrooms in the fourth quarter of 2010. Same-store sales at the 44 Thomasville stores that the company has owned for more than 15 months decreased 4% in the fourth quarter of 2011 following a 15% increase in the fourth quarter of 2010. For the full year of 2011, net sales were

$1.11 billion, a decrease of 4.5% compared to $1.16 billion in 2010 net sales. Full year 2011 retail sales totaled $145.9 million as compared to $147.7 million in 2010. Same-store sales at the 48 Thomasville stores that the company has owned for more than 15 months increased 6.3% in 2011 following a 19% increase in 2010.

Gross profit for the fourth quarter of 2011 was $58.8 million and gross margin was 23% compared to $50.1 million in gross profit and 18.1% gross margin in the fourth quarter of 2010. The increase in fourth quarter 2011 gross margin was primarily due to lower expenses related to restructuring activities, compensation, benefits, and inventory charges partially offset by higher raw material costs. For the full year, gross profit was $267.3 million and gross margin was 24.1% as compared to $276.3 million in gross profit and 23.8% in gross margin for 2010. The increase in full year 2011 gross margin was primarily due to lower expenses related to restructuring activities, compensation, and benefits partially offset by higher raw material costs.

Selling, general and administrative expenses (SG&A) for the fourth quarter of 2011 totaled $69.0 million as compared to $94.5 million in the fourth quarter of 2010. This decrease was primarily due to lower expenses related to restructuring activities, compensation, benefits, non-working marketing and sales spend, and bad debt expense as well as higher gains on facility and asset sales. For the full year, SG&A totaled $302.9 million as compared to $320.2 million in 2010. The decrease in full year 2011 SG&A was primarily due to lower expenses related to restructuring activities, compensation, benefits, non-working marketing and sales spend, and vacant facility costs as well as higher gains on facility and asset sales partially offset by favorable settlements related to certain international tax and trade compliance matters that took place in 2010.

The Company had a pretax loss of $10.5 million in the fourth quarter of 2011 as compared to a pretax loss of $46.4 million in the fourth quarter of 2010. For the full year the company reported a pretax loss of $46.6 million as compared to a pretax loss of $47.9 million in 2010. The 2011 pre-tax loss includes $9 million in intangible asset impairment as compared to $1.1 million in intangible asset impairment in 2010.

For the fourth quarter of 2011, Furniture Brands reported a net loss of $9.5 million, or $0.17 per share compared to a net loss of $44.7 million, or $0.82 per share in the fourth quarter of 2010. For the full year net loss was $43.7 million, or $0.80 per diluted share compared to a net loss of $39.0 million, or $0.76 per diluted share in 2010. The $6.1 million decrease in income tax benefit from 2010 to 2011 is primarily due to the benefit created from contributions to our pension plan in 2010.

The Company ended the year with $25.4 million in cash, up $4.2 million from the third quarter of 2011, and $77 million in debt, consistent with the third quarter of 2011.

Outlook

As previously mentioned, cost improvement actions were implemented in the third quarter of 2011 that will generate annualized cost savings of at least $30 million. Inclusive of these cost savings and the above guidance, quarterly base SG&A in 2012 is expected to be between $73 and $77 million. This base SG&A run rate will increase or decrease depending on changes such as brand support activities and incentive compensation accruals. The Company expects to generate positive free cash flow in 2012.

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Upcoming Investor Event

A conference call will be held to discuss fourth quarter and full year results at 7:30 a.m. (Central Time) on February 9, 2012. Those wishing to participate should call 866-783-2144 (domestic calls) or 857-350-1603 (international calls) and reference passcode 10797901. The call can also be accessed in the Upcoming Investor Events section of the company’s website at furniturebrands.com under “Investor Info”. Access to the call and the release will be archived for one year.

For those unable to attend the conference call, it will be available via taped replay from 10:30 a.m. (Central Time) on February 9, 2012 through 5:00 p.m. (Central Time) on February 16, 2012. That replay can be accessed by dialing 888-286-8010 (617-801-6888 for international calls) and entering passcode 88525789.

About Furniture Brands

Furniture Brands International, Inc. (NYSE: FBN) is a world leader in designing, manufacturing, sourcing and retailing home furnishings. Furniture Brands markets products through a wide range of channels, including its own Thomasville retail stores and through interior designers, multi-line/independent retailers and mass merchant stores. Furniture Brands’ portfolio includes some of the best known and most respected brands in the furniture industry, including Thomasville, Broyhill, Lane, Drexel Heritage, Henredon, Pearson, Hickory Chair, Lane Venture, Maitland-Smith and La Barge. To learn more, visit furniturebrands.com.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this document and in our public disclosures, whether written or oral, relating to future events or our future performance, including any discussion, express or implied, of our anticipated growth, operating results, future earnings per share, or plans and objectives, contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are often identified by the words “will,” “believe,” “positioned, “ “estimate,” “project,” “target,” “continue,” “intend,” “expect,” “future,” “anticipates,” and similar expressions that are not statements of historical fact. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Our actual results and timing of certain events could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including, but not limited to, those set forth under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2010, and in our other subsequent public filings with the Securities and Exchange Commission. Such factors include, but are not limited to: risks associated with the execution of our strategic plan; changes in economic conditions; loss of market share due to competition; changes in our pension funding obligations; failure to forecast demand or anticipate or respond to changes in consumer tastes and fashion trends; failure to achieve projected mix of product sales; business failures of large customers; distribution realignments; manufacturing realignments and cost savings programs; increased reliance on offshore (import) sourcing of various products; fluctuations in the cost, availability and quality of raw materials; product liability uncertainty; environmental regulations; future acquisitions; loss of key personnel; impairment of intangible assets; anti-takeover provisions which could result in a decreased valuation of our common stock; loss of funding sources or our inability to secure additional financing to meet our operating and capital needs; and our ability to open and operate new retail stores successfully. It is routine for internal projections and expectations to change as the year or each quarter in the year progresses, and therefore it should be clearly understood that all forward-looking statements and the internal projections and beliefs upon which we base our expectations included in this report or other periodic reports are made only as of the date made and may change. While we may elect to update forward-looking statements at some point in the future, we do not undertake any obligation to update any forward-looking statements whether as a result of new information, future events or otherwise.

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FURNITURE BRANDS INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands except per share data)

(unaudited)

FURNITURE BRANDS INTERNATIONAL, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(unaudited)

FURNITURE BRANDS INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

FURNITURE BRANDS INTERNATIONAL, INC.

SUPPLEMENTAL RETAIL INFORMATION

(dollars in thousands)

(unaudited)