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.
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.
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.
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.
Motion furniture producer Southern Motion will soon open a new factory in Baldwyn, Miss., investing $20 million and creating 600 jobs.
Steve Lindsay, Valdese Weavers’ liaison to the residential furniture retailers, is retiring from the company after 30 years of service.
The 5th annual Daltile Interior Design Scholarship, presented by the ASID Foundation, is now open for submissions.