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From Home Furnishing Business

Importer Pays $500K to Settle Charges It Evaded Duties

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.

FastFact: Mattress Industry Sales Jump 5.3% in Q4

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.

XPO Logistics Reports Record Q4 Revenue

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.

Stoney Creek Furniture Exec Installed as HFA President

Jim Fee of Stoney Creek Furniture in Stoney Creek, Ontario, has been installed as 2018 president of the Home Furnishings Association.

Leggett & Platt Records 8.9% Sales Increase in Q4

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.

FastFact: Furniture, Bedding Sales Climb 6.3% in Q4

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.

Purple Becomes 1st Publicly-Traded DTC Mattress Producer

Direct-to-consumer mattress producer Purple has become a publicly-traded company following completion of its merger with Global Partner Acquisition Corp.

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