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From Home Furnishing Business

Consumer Credit Woes, Same-Store Sales Drop Lead to $11.9M Loss at Conn’s

Continuing problems in its consumer credit business and a decline in same-store sales caused retailer Conn’s Inc. (CONN) to swing to a net loss of $11.9 million or 39 cents per share in the quarter ended July 31.

Matt Firm Sales Jump 48%, But Interest, Acquisition Costs Lead to Net Loss

Mattress Firm (MFRM) said sales shot up more than 48% to $980 million in the quarter ended Aug. 2, but the specialty bedding retailer recorded a net loss of $2.2 million due to heavy interest expenses and costs related to its recent spate of acquisitions.

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.

Acquisition Fuels Sales, Profit Growth at Hooker Furniture

Driven by its recently completed acquisition of Home Meridian, Hooker Furniture (HOFT) said sales more than doubled to $136.2 million in the quarter ended July 31.

Southern Motion to Open New Mississippi Factory, Add 600 Jobs

Motion furniture producer Southern Motion will soon open a new factory in Baldwyn, Miss., investing $20 million and creating 600 jobs.

Steve Lindsay Retiring from Valdese Weavers

Steve Lindsay, Valdese Weavers’ liaison to the residential furniture retailers, is retiring from the company after 30 years of service.

Fifth Annual Daltile Interior Design Scholarship Accepting Submissions

The 5th annual Daltile Interior Design Scholarship, presented by the ASID Foundation, is now open for submissions.

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