Leggett & Platt (NYSE: LEG) said third-quarter sales rose 6.4%, but the increase was more than offset by rising steel costs, which sent profits down 11.7% to $82.6 million or 60 cents per share.
Furniture retailers are a fairly optimistic group, with 58% of them expecting an increase in furniture sales in 2018, according to a recent poll taken by financial services firm TD Bank.
Store closings and production disruptions due to Hurricanes Harvey and Irma hurt the top and bottom lines at Ethan Allen (NYSE: ETH) in the quarter ended Sept. 30, as the vertically integrated company’s profits tumbled more than 35% to $7.42 million or 27 cents per share.
Mattress industry veteran Neil Zimmer has been promoted to senior vice president of Art Van PureSleep, the mattress division of Michigan-based retailer Art Van Furniture.
Online retailer Hayneedle, which sells indoor and outdoor home furnishings and décor, has named Scott Doughman as its new president.
Retailer Morris Furniture is expanding its presence in the Columbus, Ohio, market with the opening next month of a two-story structure that will house an Ashley HomeStore on the first floor and a Morris Home store on the second floor.
Fill Station, a kiosk program that allows consumers to build customized pillows in retail stores, has opened its first location in Canada.