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.
Despite their waning influence as they age out of their prime spending years, Baby Boomers still control the greatest portion of consumer spending on furniture and bedding, according to the Bureau of Labor Statistics.
E-commerce powerhouse Wayfair (NYSE: W) said fourth-quarter revenues shot up 46.2% to $1.44 billion, but its net loss grew by more than 65% due largely to increased advertising costs and greater selling and operating expenses.
Still feeling the effects of the termination of its contract with Mattress Firm last year, mattress producer Tempur Sealy International (NYSE: TPX) reported a 15.9% decline in fourth-quarter sales and a 6% dip in profits.
Atlanta-based Havertys (NYSE: HVT) reported lower fourth-quarter sales and earnings, as sluggish store traffic hampered the top line and recent changes in federal tax laws hurt the bottom line.