Although the number of Americans who move has been at historic lows in recent years, the most common reason for moving hasn’t changed a bit – people simply want a nicer home or apartment.
A new study shows that the replacement value of furniture and bedding destroyed by Hurricanes Harvey and Irma is likely to top $4 billion in Texas and Florida – and could go higher, depending on how much financial assistance homeowners receive from insurance claims and state and federal governments.
Bassett Furniture Inds. (NASDAQ: BSET) said profits jumped 9.9% in the quarter ended Aug. 26 on a 9.1% increase in sales.
Pier 1 Imports (NYSE: PIR) said sales edged up 0.4% to $407.6 million in the quarter ended Aug. 26, but the retailer’s net loss nearly doubled from the same quarter last year.
The Consumer Confidence Index, which had improved slightly in August, declined to 119.8 in September, according to The Conference Board.
The private equity group Blackstone said funds managed by Blackstone Real Estate Partners and Blackstone Tactical Opportunities have completed the previously announced acquisition of International Market Centers, the largest showroom owner in High Point and owner of the World Market Center in Las Vegas.
Job-related moves, which were curtailed by slow job growth and more restrictive corporate transfer policies during the past decade, are on the upswing again, according to data from the U.S. Census Bureau.