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From Home Furnishing Business

Rent-A-Center Shareholder Wants Board to Sell Company

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.

Report: Kane’s Settles Class Action Suit Over Bonded Leather

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.

Williams-Sonoma Signs Deal with Korean Furniture Producer

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 Commits $100M to Boost Production, Marketing

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 Records Q4 Loss as Revenues Tumble 13.8%

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%.

Vegas Poker Fund-Raiser Nets $110K for Autism Charities

The ninth annual Ante4autism event, a poker tournament held during the Las Vegas Winter Market, raised $110,931 for five autism charities, organizers said.

FastFact: Jobless Rate Low, but Consumer Confidence Stagnant in Q3

Unemployment remained low, but stagnant consumer confidence levels may help explain sluggish home furnishings sales in the third quarter.

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