Directors of rent-to-own major Aaron’s Inc. (AAN) have increased the quarterly cash dividend by 10% to 2.75 cents per share.
Havertys (HVT) said third-quarter sales and profits were essentially even with last year’s third quarter as improved gross margins were offset by higher operating costs.
While e-commerce shipments have grown at a rapid pace since the mid-2000s, furniture and related products are still slightly behind all manufacturing in the percentage of e-commerce shipments to total shipments, according to a study by the U.S. Census Bureau.
Furniture and bedding components supplier Leggett & Platt (LEG) said third-quarter profits were essentially even with last year’s third quarter, as sales declined 6% to $948.9 million.
Rent-to-own major Aaron’s Inc. (AAN) said third-quarter revenue rose less than 1%, but net income jumped more than 21% as its Progressive Finance subsidiary continued to perform well.
Hampered by repeated outages of its new point-of-sale system, Rent-A-Center (RCII) said third-quarter revenues fell 12.3% to $693.9 million, including a 12% decline in same-store sales in its U.S. rent-to-own stores.
Bedding major Tempur Sealy International (TPX) said third-quarter sales fell 5.4% to $832.4 million, but net income nearly doubled as gross margin improved and other costs were reduced.