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From Home Furnishing Business

Pier 1 CEO to Resign; Retailer Forecasts Lower Q2 Sales

Retailer Pier 1 (PIR) Imports said its board of directors has “mutually agreed” with President and CEO Alex Smith that he will resign effective Dec. 31.

Fabric Supplier Culp Reports Flat Sales, Double-digit Profit Increase

Fabric supplier Culp Inc. (CFI) said sales edged up 0.6% to $80.7 million in the quarter ended July 31, but net income jumped 13%.

Mattress Firm Acquisition Set To Close By End Of Third Quarter

Bedding retailer Mattress Firm (MFRM) said its acquisition by South African retail giant Steinhoff International Holdings N.V. (SNH) should be closed by the end of the third quarter following receipt of an early termination notice of the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act.

FastFact: Stagnant income holding back Millennial home buying

While high student debt is often cited as a key factor in keeping Millennials out of the housing market, the simple lack of sufficient income also plays a role.

Big Lots reports double-digit profit hike on flat sales in second quarter

Discount retailer Big Lots (BIG) said second-quarter sales were essentially even with last year's second quarter, but net income jumped more than 28% on improved gross margins and better inventory management.

Williams-Sonoma Reports Lower Second-Quarter Profits

Retailer Williams-Sonoma (WSM) said second-quarter revenues edged up 2.8% to $1.16 billion, but net income fell 3.5% amid what the company described as a softening retail environment.

La-Z-Boy Reports Flat Sales, 1% Earnings Increase in Fiscal First Quarter

La-Z-Boy Incorporated (LZB), a global residential furniture company reported sales were flat in the quarter ended July 30, but net income rose about 1% to $13.8 million, or 28 cents per share.

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