Ethan Allen (NYSE: ETH) reported lower sales and earnings for the quarter ended Dec. 31, citing a “challenging retail environment” and tough comparisons with the double-digit gains recorded in same quarter in 2015.
Eight, an online mattress retailer that launched a smart mattress cover last fall, said it has closed on an additional $5 million in venture capital funding, boosting the total raised from investors to $11 million.
Despite a strong performance from its company-owned retail stores Bassett Furniture Inds. (NASDAQ:BSET) said sales slipped 1.5% in its fiscal fourth quarter, and net income fell 11.2%.
Rent-A-Center (NASDAQ: RCII), the nation’s largest operator of rent-to-own stores, said same-store sales at its core U.S. stores tumbled 14% in the fourth quarter as the company continued to experience problems related to last year’s installation of a new point-of-sale system.
Ethan Allen (NYSE: ETH) warned Wednesday that earnings for the quarter ended Dec. 31 would be well below the same quarter in the previous year, as written orders were down 3.6% at its retail stores and delivered sales fell 6.2%.
Struggling electronics, appliance and furniture retailer HH Gregg said sales in the quarter ended Dec. 31 tumbled an estimated 24% to $453 million.
Atlanta-based retailer Havertys (NYSE: HVT) said fourth-quarter sales rose 2.2% to $220.6 million, while same-store sales were up 2.5%.