Bedding sales totaled $3.8 billion in the third quarter, up only 0.9% from last year’s third quarter, according to data from Impact Consulting, parent company of Home Furnishings Business.
Discount retailer Big Lots (NYSE:BIG) recorded a profit of $1.38 million or 3 cents per share in the quarter ended Oct. 29, reversing a net loss in the same period last year.
Fabric supplier Culp Inc. (NYSE: CFI) said sales fell 2.1% in the quarter ended Oct. 30, but net income jumped nearly 19% to $4.5 million or 36 cents per share.
Hampered by weak consumer demand during the summer and early fall months, La-Z-Boy (NYSE: LZB) said sales fell 1.6% to $376.6 million in the quarter ended Oct. 29.
Online retail giant Wayfair (NYSE:W) reported a 52% increase year-over-year in direct retail gross sales for the five-day peak shopping period of Thanksgiving Day through Cyber Monday.
Directors of Hooker Furniture (NASDAQ: HOFT) agreed to increase the quarterly cash dividend to 12 cents per share, a 20% boost from the previous dividend of 10 cents per share.
Third-quarter furniture and bedding sales grew a modest 1.7% from last year’s third quarter as the industry’s quarter-over-quarter growth continued its slowdown.