Stanley Furniture (NASDAQ: STLY) said it expects to report a larger-than-expected net loss of $7.5 million in the fourth quarter due to additional losses on the sale of obsolete inventory.
Single-family housing starts – often a key predictor of home furnishings sales – are projected to increase by double-digits in 2018 and 2019, according to data from the U.S. Census Bureau and the National Association of Realtors.
Buoyed by the success of its new smart bed, mattress manufacturer and retailer Sleep Number (NASDAQ: SNBR) reported double-digit sales and earnings increases in the fourth quarter.
Paced by its Progressive Leasing subsidiary, rent-to-own major Aaron’s Inc. (NYSE: AAN) reported double-digit increases in revenues and profits in the fourth quarter.
Leggett & Platt (NYSE: LEG) said fourth-quarter sales rose 8.9% to $984.5 million, but profits tumbled 56% due largely to one-time charges related to recently-enacted changes in corporate tax rates.
Upholstery and case goods resource Flexsteel Inds. (NASDAQ: FLXS) said sales jumped 9.2% to $129.4 million in the quarter ended Dec. 31, while net income was up more than 15% due largely to the recently enacted Tax Cuts and Jobs Act.
Bassett Furniture Inds. (NASDAQ: BSET) said sales rose 3.9% to $118.2 million in the fiscal fourth quarter, but net income slipped 1.4% as the company began an aggressive expansion of its retail store network.