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From Home Furnishing Business

NC Governor Says High Point Industry Wants Illegal Labor

N.C. Gov. Pat McCrory  on Wednesday accused unnamed High Point manufacturers of pushing for a loophole in state law so they can hire illegal immigrants instead of American citizens.

The comment came as McCrory discussed a bill that widens an exemption in checks for citizenship that employers are typically required to run on potential employees. 

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Source: News & Record

Conn's 2Q Profit up 65% on Furniture, Mattress Sales

Conn's Inc.'s (CONN) fiscal second-quarter profit rose 65% as furniture and mattress sales led strong revenue growth, helping to mask weakness in the credit segment.

The Texas-focused seller of consumer electronics, home appliances, and other products has been focusing on higher-margin items such as furniture and mattresses to improve its performance in recent quarters. In the latest period, furniture and mattress sales were up 59% amid stronger volume and improved average selling prices.

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Source: The Wall Street Journal

July Home Sales Hit 5.4 Million, Highest since '09

Good news for furniture land! For the first time since 2009, previously occupied U.S. homes are selling at a pace associated with a healthy market.

Sales jumped 6.5 percent in July to a seasonally adjusted annual rate of 5.4 million, the National Association of Realtors said Wednesday. Over the past 12 months, sales have surged 17.2 percent. The trend shows that housing remains a driving force for the economy even as mortgage rates have risen from record lows.
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Source: Minneapolis Star Tribune

Hooker Furniture Nets 2Q Sales, Income Increases

Hooker Furniture has reported net income of $1.7 million for the second quarter ended Aug. 4, a 14.4 percent increase from the $1.5 million reported in the same quarter last year.

SFC Survey: Consumers Consider Environment in Buying

Consumers are becoming more environmentally conscious in their purchases, and they're willing to pay more in order to own the greener product, according to the Sustainable Furnishings Council's fifth annual consumer research study.

High Point Market Sets Twitter Chat

The High Point Market Authority and Décor Mentor will co-host the Market product preview Twitter chat Sept. 25.

Home Furnishings Gain In Housing Recovery

The recovery in the housing market has helped spark an upturn on spending on home goods and materials.

When a house is underwater with more owed on the mortgage than the residence is worth, homeowners usually limit spending to emergency repairs. But with home sales and prices on the upswing, Americans are investing to improve their homes.

That's helped give a nice lift to home furnishing retailers. Privately held retailers of home-related goods and materials are seeing strong sales growth, according to new data from Sageworks, a financial information company.
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Source: Investors Business Daily