The National Retail Federation (NRF) has forecasted that retail sales during 2019 will increase between 3.8 percent and 4.4 percent to more than $3.8 trillion despite threats from an ongoing trade war, the volatile stock market and the effects of the government shutdown.
Housing inventory shortages and rising home prices are being felt across the country – in states with the highest ratio of homes for sale and big cities with already tight inventory, according to data from the U.S. Census Bureau and Zillow Inventory Data.
New orders in October 2018 rose 7% over October in 2017, according to Smith Leonard’s latest survey of residential furniture suppliers.
Numerous factors have converged to create a housing shortage in the U.S., one of which is the lack of construction labor.
Housing inventories across both rentals and homes for sale continue to decline well after the recession, according to data from the U.S. Census Bureau’s Current Population Survey/ Housing Vacancy Survey.
Hooker Furniture (NASDAQ: HOFT) has reported consolidated net sales of $171.5 million, an increase of $13.5 million, or 8.6% compared to a year ago, for its fiscal 2019 third quarter ended October 28, 2018.
Lifestyle brand Abbyson, a resource for upholstery, casegoods and accessories, has announced successful Black Friday and Cyber Monday sales last month, increasing sales volume 66 percent over 2017 and recording more than 20,000 shipments during the holiday weekend.