Leggett & Platt (NYSE: LEG) said fourth-quarter sales rose 8.9% to $984.5 million, but profits tumbled 56% due largely to one-time charges related to recently-enacted changes in corporate tax rates.
A robust December powered fourth-quarter furniture and bedding sales to a 6.3% gain over the final quarter of 2016, according to the proprietary market model from Impact Consulting, parent company of Home Furnishings Business.
Direct-to-consumer mattress producer Purple has become a publicly-traded company following completion of its merger with Global Partner Acquisition Corp.
Furniture factory orders posted a strong increase for the second consecutive month in November, rising 11% from the previous November, according to a monthly survey from the accounting and consulting firm Smith Leonard.
The price of new homes has risen steadily since the depths of the Great Recession in 2009, and less than half of homes sold for under $300,000 in the first half of 2017, according to data from the U.S. Census Bureau.
Upholstery and case goods resource Flexsteel Inds. (NASDAQ: FLXS) said sales jumped 9.2% to $129.4 million in the quarter ended Dec. 31, while net income was up more than 15% due largely to the recently enacted Tax Cuts and Jobs Act.
Ethan Allen (NYSE: ETH) said sales edged up 2% in the quarter ended Dec. 31, but profits jumped 39% due largely to the corporate tax cut signed into law in late December.