Store closings and production disruptions due to Hurricanes Harvey and Irma hurt the top and bottom lines at Ethan Allen (NYSE: ETH) in the quarter ended Sept. 30, as the vertically integrated company’s profits tumbled more than 35% to $7.42 million or 27 cents per share.
Retailer Conn’s Inc. (NASDAQ: CONN), which is based in the Houston suburb of The Woodlands, Texas, and has numerous stores in the state, said same-store sales for the quarter ending Oct. 31 are likely to be down 5% to 9% due to the impact of Hurricane Harvey.
Upholstery and case goods resource Flexsteel Inds. (NASDAQ: FLXS) said sales rose 6.9% to $119.8 million in the quarter ended Sept. 30, while a one-time gain on the sale of a facility resulted in a 30% jump in profits.
Mattress producer and retailer Select Comfort (NASDAQ: SCSS) said third-quarter sales jumped 9.4% to $402.6 million, but net income slipped about 1% due largely to the impact of hurricanes Harvey and Irma.
Havertys (NYSE: HVT) said second-quarter profits jumped 15.1% as net sales edged up 1.1% to $198.6 million.
Factory orders for residential furniture in May were 8% above May 2016 – the fourth straight monthly increase reported by the Smith Leonard accounting and consulting firm.
As the housing industry continues its post-Recession rebound, vacancy rates among rental units and homeowner units keep declining, according to data from the U.S. Census Bureau.