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From Home Furnishing Business

Furniture Brands Stock Begins Trading on OTC

Shares of Furniture Brands International (OTC: FBNI) begin trading today on the OTCQB.

Ackman Looks to Sell 18% Stake in J.C. Penney

Hedge fund manager William A. Ackman is looking to sell his approximately 18 percent stake in retailer J.C. Penney.... 

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Source: Boston Globe

Sears Canada Q2 Revenue Falls 9.6%

Sears Canada reported that second-quarter revenue fell 9.6 percent from the same period last year.

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Source: Yahoo! Canada

J.C. Penney Reports 12% Revenue Drop in Q2

Although J.C. Penney reported a wider-than-expected loss in the second quarter on a nearly 12% drop in revenue, small signs suggest that interim CEO Myron Ullman  may be starting to turn things around.

The quarter was the first entirely under Ullman's watch. Ullman returned to the retailer in April to undo the strategy put in place by Ron Johnson, who planned to transform J.C. Penney stores into a series of branded in-store shops.


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Source: Retailing Today

La-Z-Boy Declares Quarterly Dividend

La-Z-Boy Inc. (NYSE: LZB) has declared a quarterly cash dividend on the company's common stock of $0.04 per share.

La-Z-Boy Posts $9.6M Profit in 1Q

Buoyed by a 6 percent rise in total sales, furniture maker La-Z-Boy Inc. on Tuesday reported a fiscal first quarter profit of $9.6 million, or 18 cents per share, up 118 percent from $4.4 million, or 8 cents per share, for the same period a year ago.

The Monroe-based company, which makes the iconic La-Z-Boy recliner, said its quarterly sales totaled $318.9 million, compared with $301.5 million a year earlier.

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Flexsteel Posts Annual Net Income of $13.2M

Furniture supplier Flexsteel Inds. (NASDAQ: FLXS) reported net income of $13.2 million for the year ended June 30, compared to $13.1 million for the same period last year.

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