An investment firm with a 12.9% stake in struggling Rent-A-Center (NASDAQ: RCII) is urging its board of directors to sell the company, and threatened to launch a proxy fight at this year’s annual meeting if the board doesn’t act quickly.
Tampa, Fla.-based Kane’s Furniture has settled a class-action lawsuit involving customers who claimed the retailer failed to honor their warranty when their bonded leather upholstery peeled and cracked, according to a story in the Tampa Bay Times.
Retailer Williams-Sonoma (NYSE:WSM) signed a franchise agreement with Korean furniture manufacturer Hyundai Livart Furniture Co. to operate retail stores and an e-commerce business in South Korea.
Serta Simmons Bedding, the nation’s biggest mattress producer, said it is making a multi-year investment of more than $100 million to expand production capacity and boost its marketing efforts.
Rent-A-Center (NASDAQ: RCII), the struggling rent-to-own operator, reported a pre-tax loss of $170.9 million in the fourth quarter as revenues tumbled 13.8%.
The ninth annual Ante4autism event, a poker tournament held during the Las Vegas Winter Market, raised $110,931 for five autism charities, organizers said.
Unemployment remained low, but stagnant consumer confidence levels may help explain sluggish home furnishings sales in the third quarter.