After reaching a 17-year high in November, the widely-followed Consumer Confidence Index fell to 122.1 in November, according to the Conference Board.
Online mattress retailer GhostBed said it has begun accepting payments with Bitcoin, becoming the first mattress retailer to accept the cryptocurrency.
The percentage of income spent on furniture and related equipment varies little among U.S. households, despite a wide range of household incomes, according to data from the Consumer Expenditure Survey by the Bureau of Labor Statistics.
Mattress Firm, whose parent company, Steinhoff International, has been struggling in the wake of an accounting scandal, said it has obtained a new secured asset-based revolving credit line of up to $225 million.
Mattress Firm parent Steinhoff International (FRANKFURT: SNH) is being “pushed to the brink of collapse” because several lenders have pulled credit lines, according to a Bloomberg News report.
The top 20 percent of U.S. households make more than half of all income and pay 78.5 percent of all taxes, according to the latest Consumer Expenditure Survey from the Bureau of Labor Statistics.
Li & Fung, the Hong Kong-based supply chain giant, said it is selling its furniture businesses as part of a $1.1 billion deal with Chinese private equity firm Hony Capital.