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Home Furnishings

10:46 p.m. Jan. 4, 2021 - MarketWatch
Next says Dec. full-priced sales beat estimatesNext PLC said Tuesday that full-price sales for the fourth quarter were much better than it forecasted in October, and that it expects sales in January to be down 14% due to coronavirus-related lockdowns.
4:57 a.m. Dec. 28, 2020 - MarketWatch
U.S. holiday sales rose 2.4% as online sales jumpHoliday sales grew, but not by much. During a remade shopping season, many Americans ditched stores for digital outlets. And pandemic buying trends that favored household goods and food over apparel continued, according to early sales data from firms that track shopper spending. U.S. retail sales rose 2.4% between Nov.
11:05 a.m. Nov. 11, 2020 - By Tonya Garcia
Bebe shares soar after $35 million acquisition adds 47 home furnishing franchise locationsBebe Stores Inc. stock soared more than 35% in Wednesday trading after the women's apparel and accessories brand purchased 47 Buddy's Home Furnishings franchised rent-to-own locations from Franchise Group Inc. for $35 million. The stores are located across the southeastern U.S. The purchase is "materially accretive to Bebe's cash flow over time" and "diversifies Bebe's profit stream over time," according to a statement from Manny Mashouf, chief executive of Bebe. The deal was funded by a 1.5 million primary share purchase by B. Riley Financial Inc. at $5 per share, cash on hand, and a $22 million secured loan. Bebe stock has dropped 17.2% over the year to date while the S&P 500 index is up 10.3% for the period.
10:48 a.m. Nov. 6, 2020 - By Tomi Kilgore
Haverty Furniture to pay special dividend of $2 a shareHaverty Furniture Companies Inc. said Friday it will pay a special cash dividend of $2.00 a share. The stock was down 1.9% in afternoon trading, but was down 2.9% prior to a trading halt for news. The home furnishings retailer said the special dividend, as well as the regular quarterly dividend of 20 cents a share, will be payable on Dec. 9 to shareholders of business on Nov. 23. "Our board of directors authorized several steps taken earlier this year to ensure our liquidity due to the uncertainty facing the economy. Our operating results since reopening our stores in May have been very good," said Chief Executive Clarence Smith. "The board's decision today to pay a special dividend, provides returns to Haverty's stockholders, maintains a safeguard against potential headwinds, and preserves capital for potential opportunities." Based on current stock prices, the stock's regular dividend yield is 3.11%, compared with the implied yield for the SPDR S&P Retail ETF of 1.14% and the implied yield for the S&P 500 of 1.63%. Haverty's stock has rallied 27.6% year to date, while the S&P 500 has gained 8.5%.
12:33 a.m. Oct. 28, 2020 - MarketWatch
Next sales rise as it upgrades guidanceNext PLC said Wednesday that total full price sales rose in the third quarter of fiscal 2021 and it upgraded its pretax profit and net debt guidance for the year. The FTSE 100-listed clothing and home-furnishings retailer said retail sales for the three months ended Oct. 24 fell 17.9%, while online sales increased 23.1%.
11:50 a.m. Sept. 29, 2020 - By Aisha Al-Muslim
U.S. retail bankruptcies, store closures hit record in first halfRetail bankruptcies, liquidations and store closings in the U.S. reached records in the first half of 2020 as the Covid-19 pandemic accelerated industry changes, particularly the shift to online shopping, according to according to a report by professional-services firm BDO USA LLP.
10:27 p.m. Sept. 16, 2020 - MarketWatch
Next raises guidance after swinging to a lossNext PLC reported Thursday a swing to pretax loss for the first half of fiscal 2021 and said that its guidance for the full year has improved significantly. The FTSE 100-listed clothing and home-furnishings retailer posted a pretax loss for the six months ended July 25 of 16.5 million pounds ($21.4 million) compared with profit of GBP327.4 million a year earlier.
9:21 a.m. Sept. 4, 2020 - By Tomi Kilgore
Wayfair's stock sinks after Merrill Lynch downgrades, citing expected 'deceleration' in salesShares of Wayfair Inc. sank 8.0% in afternoon trading Friday, after BofA Securities analyst Justin Post downgraded the home furnishings online retailer, citing evidence of a deceleration in sales trends. The stock, which has pared earlier intraday loss of a much as 14.9%, has still shed 25.9% since closing at a record $342.40 on Aug. 26. Post cut his rating to neutral, after being at buy since April 7. He kept his stock price target at $330, which is 30.1% above current levels. "Expectations and valuation are high vs. history, and we expect revenue deceleration ahead, which has been a historical valuation headwind for the stock," Post wrote in a note to clients. "We think [quarter-to-date] stock appreciation has been fueled by expectations for upside, but given recent data points, we see less upside to Street estimates for 58% growth in 3Q." The stock has gained 28.4% so far this quarter, compared with a 20.5% rise in the Amplify Online Retail ETF over the same time and the S&P 500's 9.4% advance.
6:26 a.m. Aug. 29, 2020 - By Philip van Doorn
These ‘Dividend Aristocrat’ stocks have been raising their dividends for decades, and there have been no dividend cuts during the pandemic Dozens of other S&P 500 companies, in contrast, have reduced their payoutsDozens of other S&P 500 companies, in contrast, have reduced their payouts.
8:18 a.m. Aug. 18, 2020 - By Tonya Garcia
Wayfair is on S&P’s ‘most vulnerable’ list despite soaring stock, new customer numbers Blue Apron and J.Jill are also on the S&P Global Market Intelligence listWayfair shares have soared more than tripled for the year to date, but S&P Global Market Intelligence has the online home retailer on its “most vulnerable” list.
3:05 a.m. Aug. 7, 2020 - By Tonya Garcia
Wayfair served almost 5 million new customers in the second quarter but analysts question whether they’ll return Wayfair stock has more than tripled in 2020Wayfair says millions of new customers, as well as a million lapsed customers, shopped the home goods site during the most recent quarter.
3:38 a.m. Aug. 5, 2020 - By Tomi Kilgore
Wayfair's stock surges toward a record after swinging to big profit beat, as orders delivered more than doubledShares of Wayfair Inc. shot up 3.0% toward a record high in premarket trading Wednesday, after the online seller of home furnishings and housewares swung to a big profit beat in the second quarter, as orders delivered more than doubled. Net income was $273.9 million, or $2.54 a share, after a loss of $181.9 million, or $!.98 a share, in the year-ago period. Excluding non-recurring items, Wayfair swung to adjusted earnings per share of $3.13 from a per-share loss of $1.35, well above the FactSet consensus for EPS of 97 cents. Revenue soared 83.7% to $4.30 billion, beating the FactSet consensus of $4.07 billion. Orders delivered increased 106.2% to 18.9 million, while the average order value declined to $227 from $255. The number of active customers in the Direct Retail business grew 46.0% to 26.0 million. "We experienced unprecedented demand in Q2 and saw record numbers of new and repeat customers choose Wayfair," said Chief Executive Niraj Shah. The stock has more than tripled (up 221.8%) year to date through Tuesday, while the S&P 500 has gained 2.3%.
5:27 a.m. July 16, 2020 - By Jeffry Bartash
U.S. retail sales jump 7.5% in June, but fresh coronavirus outbreak poses new hurdle Rebound in retail sales could fizzle out if coronavirus isn’t containedSales at U.S. retailers posted a big increase in June for the second month in a row, but a surge in coronavirus cases that’s led to more restrictions on business threatens to sap the momentum of the economic recovery. Retail sales climbed 7.5% last month.
4:45 a.m. June 24, 2020 - By Barbara Kollmeyer
A surge in U.K. retail stocks has gone ‘too far, too fast,’ warns Citigroup Investors are underestimating downside risks from COVID-19, and the run enjoyed by the retail sector lately is probably not going to last, said analysts at Citigroup, in a note to clients on Wednesday.
5:17 a.m. June 9, 2020 - By Tonya Garcia
RH is planning to open hotels and sell houses, but analysts ask whether it can pull it off The home retailer is also launching international locations in Paris and London, and offers a chartered yachtRH has a strategy to expand its lifestyle brand beyond home furnishing stores and into travel and even real estate.
8:07 a.m. June 4, 2020 - By Howard Gold
New York City has come back from every crippling blow — but coronavirus could land a knockout punch America’s premier global city is reeling from COVID-19 and a deep recessionAmerica’s premier global city is reeling from COVID-19 and a deep recession.
4:42 a.m. June 4, 2020 - By Ciara Linnane
Tuesday Morning secures $25 million DIP loan from B. Riley unit as part of Chapter 11 proceedingsTuesday Morning Corp. said Thursday it has obtained a commitment from a B. Riley Financial unit for $25 million of debtor-in-possession funding to support operations during Chapter 11 bankruptcy. The Dallas-based home furnishings retailer said the funding is part of its $100 million DIP agreement with existing lenders. The company is seeking to restructure under Chapter 11 after COVID-19-related store closures slammed its business. "This additional capital is an important milestone as it provides significant liquidity for us to continue operations throughout the reorganization process," Chief Executive Steve Becker said in a statement.
3:25 a.m. June 1, 2020 - By Tonya Garcia
Parents flocked to Pottery Barn Kids and Teen during the lockdowns, driving Williams-Sonoma results Williams-Sonoma stock soars more than 14% in Friday trading after resultsWilliams-Sonoma credited its e-commerce capabilities and its Pottery Barn Kids and Teen business for better-than-expected results.
2:40 a.m. May 27, 2020 - By Tomi Kilgore
Tuesday Morning declares bankruptcy, to close 33% of its stores in the reorganizationShares of Tuesday Morning Corp. plunged 39% toward a record low in premarket trading Wednesday, after the discount home furnishings retailer said it has filed for bankruptcy, as the prolonged closure of its stores amid the COVID-19 pandemic created an "insurmountable financial hurdle." The company said it has obtained $100 million in debtor-in-possession financing so it can continue operations during the bankruptcy. The company said plans to permanently close about 230 of its 687 total stores, or 33%, as part of the reorganization. Tuesday Morning said it had initially closed all of its stores due to the pandemic, but has reopened about 80% of the stores, and over 7,300 employees have returned to work. The bankruptcy comes a little over a week after fellow retailer . The stock has plummeted 86.7% year to date through Tuesday, while the SPDR S&P Retail ETF has dropped 12.5% and the S&P 500 has shed 7.4%.
5:22 a.m. May 21, 2020 - By Tonya Garcia
Lowe’s benefited from delayed DIY projects done during coronavirus lockdowns, while Home Depot saw professional jobs put on hold Lowe’s beat profit expectations while Home Depot fell shortLowe’s reported earnings and sales that beat expectations. Home Depot sales beat expectations, but profit fell short.
1:26 p.m. May 14, 2020 - By Jon Swartz
Dillard's shares rise 6% on news of reopened stores, smaller quarterly lossDillard's Inc. shares were up 6% in after-hours trading Thursday after the seller of fashion apparel, cosmetics, and home furnishings reported a smaller fiscal first-quarter loss than expected, as well as the reopening of stores. Dillard's reported a net loss of $162 million, or $6.94 a share, compared with net income of $78.6 million, or $2.99 a share, in the year-ago quarter. Net sales plunged 46% to $786.7 million from $1.46 billion a year ago. The good news is that Dillard's says it plans to reopen 116 stores and five clearance centers next week. Once they are open, the company will have 241 stores and 29 clearance centers in service. "COVID-19 has impacted every aspect of our business. The mall business in general and department stores, specifically, have been particularly hard hit," Dillard's Chief Executive William T. Dillard II said in a announcing the results. Analysts surveyed by FactSet had expected a loss of $7.16 a share on sales of $822 million. Dillard's shares are down 59% in the last year. The broader S&P 500 index is down 0.8% in the last year.
8:57 a.m. May 7, 2020 - By Tonya Garcia
Wayfair stock is soaring, but analyst says growth will ‘hit a wall’ Wayfair shares, which were up 9% on Wednesday, have skyrocketed 131% over the past monthWayfair shares have jumped but GlobalData Retail says the numbers show that growth will decelerate.
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