Spring 2023 Market Preview

April 24, 2023April 24, 2023 Michael Posa High Point, HPFM, Posa, Spring Market

Where to find the high points of High Point

Featured Furniture

FTS Reports from High Point

November 1, 2022November 2, 2022 Alan Wolf FTS, furniture, High Point

Key takeaways from last week’s fall furniture market

What Goes Up: Following several quarters of accelerated sales, home goods bellwether Conn’s, with over 170 stores across 15 states, said a 13% decline in furniture and mattress revenue and a 25% decline in appliance sell-through contributed to an operating loss of $20 million within its retail segment for the three months ended April 30. Conns Inc.

Short Circuited: Best Buy’s sales and profits continued to deteriorate in the first quarter amid what the company described as an electronics recession, although it anticipates a rebound later this year or in 2024. StarTribune

If You Can’t Beat ’Em: Amazon said its independent sellers — which include ProSource members Abt Electronics, Walts TV and World Wide Stereo — collectively sold more than 4.1 billion products through its site last year, averaging more than $230,000 in sales. Amazon Small Business Empowerment Report