Home Furnishings Resource Group, a supplier of furniture used in college dormitories, has agreed to pay $500,000 to settle claims that it made false statements on customs documents to avoid paying anti-dumping duties on bedroom furniture imported from China.
Mattress industry sales totaled $3.69 billion in the fourth quarter, a 5.3 percent jump over the same quarter in 2016, according to preliminary estimates from Impact Consulting Services’ proprietary industry model.
Transportation powerhouse XPO Logistics (NYSE: XPO) reported record fourth-quarter revenue of $4.19 billion, led by growth in its freight brokerage, last-mile delivery and contract logistics businesses.
Jim Fee of Stoney Creek Furniture in Stoney Creek, Ontario, has been installed as 2018 president of the Home Furnishings Association.
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.