Fourth-quarter furniture and bedding sales were 2.6% ahead of the previous year's fourth quarter, continuing a slow, steady growth track, according to the latest research from Impact Consulting Services, parent company of Home Furnishings Business.
Furniture, electronics and appliance retailer HHGregg (OTC: HGGG), which last week announced it is closing 88 stores and eliminating about 1,500 jobs, has filed for Chapter 11 bankruptcy protection.
Pier 1 Imports (NYSE: PIR) said fiscal fourth-quarter sales declined about 2.6%, and the retailer said it expects to have earnings per share of 31 cents to 33 cents.
Despite a difficult fourth quarter, discount retailer Big Lots (NYSE: BIG) said net income rose 7% for the fiscal year ended Jan. 28 as sales inched up 0.2%.
In its first monthly release of key operating metrics, Rent-A-Center (NASDAQ:RCII) said same-store sales fell 11.5% at its core U.S. stores in January, but rose 2.5% for its Acceptance Now business that provides rent-to-own financing for traditional retailers.
Upholstery and mattress fabric supplier Culp Inc. (NYSE: CFI) recorded a profit of $6.3 million or 51 cents per share in the quarter ended Jan. 31 as sales dipped 2.9%.
Struggling retailer HHGregg said the New York Stock Exchange suspended trading of its stock at the close of business Monday, and it expects the stock to be de-listed.