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From Home Furnishing Business

AICO President Martin Ploy to Retire After 55-year Furniture Industry Career

After more than 50 years in the home furnishings industry, AICO President Martin Ploy has announced he plans to retire in early November.

La-Z-Boy Sets Quarterly Highs in Sales, Operating Profits & Operating Margin

La-Z-Boy established new quarterly records in sales, operating profits and operating margin in the quarter ended July 30 as it bucked the trend of declining furniture sales.

Terminated Wayfair Employees to Receive at Least 10 Weeks’ Severance Pay

The U.S.-based employees who were terminated last week by e-commerce giant Wayfair will receive a minimum 10 weeks’ pay as part of a severance package outlined by CEO and co-founder Niraj Shah.

Sunpan Touts Work of Minority Designers With Kaleidoscope Project Sponsorship

Contemporary furniture resource Sunpan is once again a sapphire sponsor of The Kaleidoscope Project, an annual effort that showcases the work of minority interior designers as they renovate a historic property.

New Home Sales Tumble 12.6% in July; Lowest Level Since January 2016

In a further sign that the housing market continues to weaken, new home sales in July fell to their lowest level since January 2016, according to the National Association of Home Builders.

Arhaus Names Tim Kuckelman Chief Operating Officer

High-end lifestyle retailer Arhaus has hired retail operations and logistics veteran Tim Kuckelman as its new chief operating officer.

Flexsteel Records Q4 Net Loss Amid Declining Demand, Inventory Glut

Upholstery and case goods resource Flexsteel Inds. said sales fell 8.6 percent to $124.5 million in the quarter ended June 30 – the final quarter of the company’s fiscal year – as it faced declining consumer demand, a retail inventory glut and continued inflationary pressures.

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