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Up, down and around: 22 companies’ first-quarter earnings deliver mixed goods

Posted on by darion

HIGH POINT – A series of first-quarter earnings have been reported since the first of this month, and while some companies are still mired in the challenges that plagued the furniture industry in 2023, others are seeing their numbers heading in a better direction.

Retailers – stationary and e-comm

  • 1stdibs.com Reports Moderate Earnings Growth in Q1 2024 – Online luxury designer goods marketplace 1stdibs.com reported financial results for the first quarter ending March 31, with slightly lower revenues…
  • Aaron’s achieved success in the first quarter, albeit within the guidelines – in releasing its first quarter earnings report, The Aaron’s Co. records a year-on-year loss in revenues and profits for the period ended March 31.
  • Arhaus exceeded 2023 results in Q1, but is ahead of 2024 forecasts – the top 100 retailers confirmed their 2024 forecasts and expect to open 9 to 11 stores during the year.
  • Beyond Inc. increases revenues for the first quarter in the positive – a large increase in transaction volume increased Beyond Inc.’s revenues. in the first quarter, although the increase was small.
  • Dividends for Havertys even after first-quarter sales decline – gross profit margins of the top 100 retailers rose over the three-month period, revealing plans to enter a new market.
  • JCPenney’s sales and profit are declining, with sales still exceeding $1 billion in the home goods category. Co-owner Simon Property Group says there is “no pressure” to reduce the number of stores.
  • Leon’s Sees Pros and Black Inks in First Quarter Earnings Report – In its first quarter earnings report, Leon’s Furniture Ltd. reported increases in systemwide sales, revenue, same-store sales and net income for the period ended March 31.
  • Macy’s Exceeds Expectations in First Quarter and Touts ‘Bold New Chapter’ Progress – Just 90 days after implementing its ‘Bold New Chapter’ strategy, Macy’s is encouraged by sales in a group of pilot stores that serve as laboratories for its new initiatives.
  • Mattress Firm’s Second Quarter Revenues Fall Sharply After Sales Drop 4.6% – Mattress Firm’s latest financial results show that the industry’s largest sleep products retailer Mattress Firm is not immune to the slowdown in the mattress segment.
  • First quarter sales at Sleep Country Canada increased 1.6% while revenue declined 22.9% – Canada’s largest sleep products retailer, Sleep Country Canada, reported an increase in net sales and a slight decline in revenue in the first quarter, i.e. during a period that was still characterized by consumer volatility.
  • Target CEO: ‘We’re on the right track’ – Target saw continued improvement in its discretionary business in the first quarter, especially in its apparel business.
  • Home Sweet Home: TJX Outperforms Category in Q1 – Transactions resulted in revenue growth at each of TJX Cos.’s divisions. in the first quarter.
  • Furniture sales surged on Walmart Marketplace in the first quarter – Furniture appears to have taken hold at Walmart in the U.S., especially online, where the retailer generates more profitable margins from higher-income households than stores do.
  • Wayfair Customer Numbers Grow in Q1 While Losses Moderate – Wayfair ended its first quarter on a “growth” note, with active customer numbers growing and revenue declining to 1.6% compared to the same quarter in 2023.
  • Williams Sonoma’s earnings soared in the first quarter – the president and CEO says the company’s three priorities are returning to growth, improving customer service and increasing margins.

Suppliers and manufacturers