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From Home Furnishing Business

FastFact: Consumer Spending on Furniture Tops $109 Billion in Q1

Consumer spending on furniture totaled $109.7 billion in the first quarter of 2017, according to data from the Bureau of Labor Statistics.

Hurricanes Send Aaron’s Q3 Profits Down 14%

Rent-to-own major Aaron’s Inc. (NYSE: AAN) said third-quarter revenues rose 9% to $838.9 million, but earnings fell 14% due to store closings and other disruptions in states hit by Hurricanes Harvey and Irma.

Rising Steel Costs Again Pinch Leggett & Platt Profits

Leggett & Platt (NYSE: LEG) said third-quarter sales rose 6.4%, but the increase was more than offset by rising steel costs, which sent profits down 11.7% to $82.6 million or 60 cents per share.

Survey Finds Furniture Retailers Optimistic about 2018 Sales

Furniture retailers are a fairly optimistic group, with 58% of them expecting an increase in furniture sales in 2018, according to a recent poll taken by financial services firm TD Bank.

Hurricanes Crimp Sales, Profits at Ethan Allen

Store closings and production disruptions due to Hurricanes Harvey and Irma hurt the top and bottom lines at Ethan Allen (NYSE: ETH) in the quarter ended Sept. 30, as the vertically integrated company’s profits tumbled more than 35% to $7.42 million or 27 cents per share.

Conn’s Projects Same-Store Sales Decline Due to Hurricane

Retailer Conn’s Inc. (NASDAQ: CONN), which is based in the Houston suburb of The Woodlands, Texas, and has numerous stores in the state, said same-store sales for the quarter ending Oct. 31 are likely to be down 5% to 9% due to the impact of Hurricane Harvey.

FastFact: Insurance, Maintenance Lead Post-Recession Household Spending

Household insurance has emerged as the fastest-growing housing expense since the Great Recession ended in 2009, according to data from the Bureau of Labor Statistics.

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