Despite a slight decline in same-store sales in the fourth quarter, discount retailer Big Lots (NYSE: BIG) reported a double-digit increase in earnings for the quarter and the fiscal year that ended Feb. 3.
Generation X had an average household income of $95,168 in 2016, easily outdistancing Baby Boomers and Millennials, according to the annual Consumer Expenditure Survey from the Bureau of Labor Statistics.
Sales at Mattress Firm fell 16% to $638 million in the quarter ended Dec. 31, parent company Steinhoff International reported this week, saying the mattress retailer’s business was disrupted by a raft of operational changes and competition from online mattress players.
Last year ended on a disappointing note for many furniture manufacturers, as December factory orders fell 9% from December 2016, according to the monthly Furniture Insights survey from the Smith Leonard accounting and consulting firm.
Stronger-than-expected sales of mattress and upholstery fabrics led to a 12% sales increase at Culp Inc. (NYSE: CULP) in the quarter ended Jan. 28.
Stanley Furniture (NASDAQ: STLY) said it expects to report a larger-than-expected net loss of $7.5 million in the fourth quarter due to additional losses on the sale of obsolete inventory.
Directors of Atlanta-based Havertys (NYSE: HVT) have increased the quarterly cash dividend on the company’s common stock to 18 cents per share.