Home furnishings and décor retailer Pier 1 Imports (NYSE: PIR) said sales slipped 1.4% to $469.2 million in the fiscal third quarter, but earnings fell by more than 45% due to heavier-than-normal promotions and the effects of Hurricanes Harvey and Irma.
Mattress Firm parent Steinhoff International (FRANKFURT: SNH), whose CEO resigned last week amid an accounting scandal, said it will have to restate its financial statements for fiscal year that ended Sept. 30, 2016.
Steinhoff International, (FRANKFURT: SNH) the South African furniture and retail conglomerate whose stock price collapsed last week in the wake of an accounting scandal, may have to sell some of its prized assets – including Mattress Firm – in order to make debt payments that are due in March, according to a Bloomberg News report.
The southern and western states are the biggest beneficiaries when Americans move, as data from the U.S. Census Bureau shows the South and West had the greatest net increase in population from movers from 2015 to 2016.
Hooker Furniture (NASDAQ: HOFT) reported a double-digit profit increase in the quarter ended Oct. 29 as sales rose 8.7% to $157.9 million.
Buoyed by improvements in its long-suffering credit business, retailer Conn’s Inc. (NYSE: CONN) recorded a profit of $1.57 million or 5 cents per share in the quarter ended Oct. 31.
Momentum from Abbyson’s recently bolstered digital strategies has resulted in a 40% increase in sales volume compared to last year, in the period between Black Friday and Cyber Monday.