The American Society of Interior Designers (ASID) has released the results of the Interior Design Billings Index (IDBI) 3rd Quarter Report.
Furniture and bedding sales growth remained sluggish during the third quarter, climbing just 1.7% to $23.8 billion, according to a data compiled by Impact Consulting Services, parent company of Home Furnishings Business.
Retailer Williams-Sonoma (WSM) said third-quarter revenues and earnings per share were slightly ahead of last year’s third quarter despite a challenging retail environment that resulted in comparable-brand revenue declines at three of its five major brands.
Leather upholstery major Natuzzi (NTZ) said worldwide sales fell 11.4% in the quarter ended Sept. 30 and the company’s net loss widened to 5.5 million euros (about $5.85 million) from 5.1 million euros (about $5.42 million) in last year’s third quarter.
Directors of Ethan Allen (NYSE:ETH) have approved an increase of 2 cents per share in the quarterly cash dividend, boosting the payout of 19 cents per share.
Nova LifeStyle, (NVFY) parent company of Diamond Sofa and several other lifestyle home furnishings brands, said third-quarter sales jumped 26.9% to $30.5 million as the company continued to focus on higher-margin premium products.
Retailer Pier 1 Imports (PIR), which is being pressured by activist shareholders to improve results, said sales in the current quarter are better than expected to date, and noted that sales and earnings should be at the higher end of the projections issued in late September.