Melinda Whittington, La-Z-Boy Incorporated President and Chief Executive Officer and a member of its Board, has been elected to serve additionally as Chair of the Board. Meanwhile, Michael Lawton, who has served as Chair of the Board since May 2022, will return to his previous position of independent Lead Director.

“Melinda is an exceptional and highly respected leader, and the Board believes that her decisive leadership will continue to drive long-term, sustainable value for all stakeholders. I look forward to continuing to work closely with her in her elevated leadership role,” Michael Lawton commented.

“I have confidence that Melinda’s strategic vision and insistence on operational excellence, combined with Mike’s thoughtful and experienced leadership, position our Board to provide ongoing, effective support and oversight,” said Janet Kerr, Chair of the Nominating and Governance Committee.

Whittington has served as the company’s President and Chief Executive Officer and a member of its Board of Directors since 2021. She joined La-Z-Boy Incorporated as Senior Vice President and Chief Financial Officer, a role she held for three years prior to her appointment as CEO. Previously, Whittington was the Chief Financial Officer of Allscripts Healthcare Solutions, as well as the Senior Vice President, Corporate Controller and Chief Accounting Officer for Kraft Foods Group, Inc. (now The Kraft Heinz Company). Earlier in her career she spent 20 years with The Procter and Gamble Company in finance roles of increasing responsibility. Whittington also currently serves on the Board of Directors of Best Buy Co., Inc.

Lawton, who has been a director since 2013, has served as the company’s non-executive Chair of the Board since 2022. Prior to becoming Chair, he was the independent Lead Director beginning in 2021. Mr. Lawton retired from Domino’s Pizza, Inc., where he was Executive Vice President and Chief Financial Officer and previously held various management roles, including interim Chief Information Officer and Executive Vice President of International. Before this, Lawton was Senior Vice President and Chief Operating Officer of Gerber Products Company, now a subsidiary of Nestle S.A. He also serves currently on the Board of Directors and as the Chair of the Audit Committee for Universal Corporation.

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In the UK, US and Canada, customers can now design customised bedrooms, including the ability to scan and design a whole room, explore duvet & accent pillow combinations, as well as to benefit from an AI rules engine that positions products in logical areas. With the new feature customers around the world can see how different bedding combinations will look – and feel – before buying.

As Parag Parekh, Chief Digital Officer (CDO), for IKEA Retail (Ingka Group) puts it: “We’re thrilled to offer a new experience with IKEA Kreativ, empowering people to design personalised and authentic spaces that support better sleep. Restful sleep is essential for comfort, belonging, and well-being, and this solution helps turn inspiring ideas into cozy, restful environments.”

Since its debut, IKEA Kreativ, a digital platform that helps design spaces by virtually placing IKEA furniture and décor in the home, using cutting-edge AI and 3D visualization, has redefined what’s possible in-home design, helping customers bring their dream spaces to life with over seven million active designers a year, and growing. Imagine being able to re-imagine an entire home – tapping a button to mix and match furniture, reinventing spaces, and transforming rooms without lifting a single paintbrush. IKEA Kreativ is now available in 29 IKEA markets worldwide (apart from China), via both the IKEA website and app.

IKEA has long understood that sleep is deeply personal – a reflection of individual needs shaped by climate, cultural traditions, and the rhythms of life, whether in the heart of a bustling city or the tranquillity of the countryside. Over the years, through its intimate ‘home visits,’ IKEA has delved into the soul of how people live, uncovering their unique desires, likes, and dislikes that make a house a home. These insights have guided IKEA to adapt its offerings to fit local markets, from designing pillows and mattresses tailored to American preferences to accommodating the nuances of German homes. Now, with IKEA Kreativ, this understanding comes to life through the showrooms, and it empowers customers to design sleep sanctuaries as unique as their dreams – crafted with care and tailored to their world.

According to the IKEA Life at Home Report for 2023, a clutter-free environment isn’t just about aesthetics – it plays a crucial role in promoting better sleep. A tidy, organized bedroom creates a sense of calm that fosters relaxation and enhances restfulness, with 40% of people reporting they feel more content and at ease in a clutter-free space.

For the millions who have embraced IKEA Kreativ, this tool has become a transformative ally in crafting these serene spaces. Like a Swiss Army knife for home design, it helps solve real-life challenges – whether it’s city dwellers maximizing compact spaces or suburban homeowners mapping out multi-room layouts. With IKEA Kreativ, anyone can turn their bedroom into a peaceful haven, experimenting with products and layouts to bring their vision to life.

The “Dress the Bed” feature, for example, personalises bedding setups and sleep styles, helping users discover duvets that complement their room and create harmonious combinations to enhance sleep quality. The “Smart Item Placement” feature assists users by suggesting optimal locations for items, making it easier to kick-start their decorating journey. Lastly, the “Scan and Design the Whole Room” feature now includes advanced capabilities for designing entire rooms seamlessly.

With IKEA Kreativ, reimagining any space becomes effortless. Users can declutter by removing unwanted items, experiment with furniture and layouts, and design spaces that reflect their personal style. Showrooms act as blank canvases, making it easy to explore endless possibilities. For those using iPhone and iPad Pro, the experience becomes even more immersive, allowing for precise testing of layouts, colour schemes, and décor.

IKEA Kreativ is rapidly becoming a guide for design inspiration worldwide. Customers from all corners of the globe – Tokyo, Toronto, Mumbai, London – have shared their designs with friends via email or through social channels, showcasing the many ways IKEA Kreativ is helping to bring their unique visions to life. Each one represents a real bedroom, a real family’s home, a real dream realized with just a few taps.

From spacious countryside homes to tiny city apartments, IKEA Kreativ is empowering people to connect with IKEA’s global design ethos while embracing what makes their space – and their needs – unique. And with continuous updates to the 3D product catalogue and design features, IKEA is paving the way for a future where intuitive, personalised home design is available to all.

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As part of the company’s debut in the region, the collection includes five ranges designed to meet the unique tastes of UK and European consumers: Timeless, Eclectic Academia, Nordic Tranquillity, Harmony Haven, and Academic Fusion.

“We’re thrilled to debut Modern Country this January,” said Jeremy Hoff, CEO of Hooker Furnishings. “This collection, developed through extensive collaboration with local designers and retailers, reflects our commitment to delivering thoughtfully designed products that honour our 100-year legacy of quality and innovation.

“Designed to the unique preferences and scale of the UK market, this launch marks a significant milestone in our global expansion and reinforces our dedication to a lasting presence in the region.

“Inspired by nature’s beauty, the Modern Country Collection blends vintage charm with contemporary design. Featuring warm, inviting handcrafted materials and natural textures, this versatile collection includes a curated mix of pieces that celebrate the timeless beauty of modern country living, bringing an elevated ambiance of comfort and tranquillity to interiors.”

See all News – USA

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Georgia-based Mohawk Industries has filed the lawsuit against 3M, DuPont, Daikin America, and Chemours, alleging that they were unaware about the dangers of PFAS (per- and polyfluoroalkyl substances) chemicals used in the production of stain-resistant carpets.

The lawsuit, filed in Whitfield County Superior Court, alleges that these companies deliberately concealed the risks associated with PFAS chemicals, which are now known to cause significant environmental damage and pose serious health risks.

Detailed in the file, Mohawk says it was misled about the potential hazards of these chemicals, which are now being found in local water supplies and across the environment in large quantities. Furthermore, Mohawk claims that the companies engaged in fraud and negligent misrepresentation by providing false assurances regarding the chemicals.

The lawsuit is also seeking compensation for damages associated, including the costs for PFAS removal and remediation efforts.

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According to the latest UK trade data, analysed by Big Furniture Group, total imports of furniture into Britain valued £633.7m in September 2024, up 3.3% from £613.1m against the same month the previous year.

Imports from the EU registered a decline of 3.4% to £307.3m from £318.3m. Imports from Italy were down 2% to £59.1m, while Polish imports fell 0.1% to £61.2m. Imports from Germany were down 6.5% to £52.1m.

As for outside the EU, total imports rose 10.7% to a value of £326.4m from £294.7m. Chinese imports were up 18.3% to £226.8m, while Vietnam rose by 5.5% to £14.9m. Imports from the USA decreased 12% to £18.4m, while Turkish imports declined 15% to £11m.

Moving to exports, the total value of UK furniture leaving the country rose 17.3% to £216.9m from £184.8m year-on-year. In Europe, exports rose 11.1% to £106.5m from £95.8m. Exports to France decreased 1.9% to £29.7m, while German exports increased 16.1% to £16.2m. Irish exports were down 10% to £20.8m, while exports to Spain jumped 403% to £11m.

Outside the EU saw exports increase 24% to £110.3m from £88.9m. Exports to China were down 21% to £2.2m, while Singapore saw growth of 248% to £5.3m. Exports to the UAE rose 18% to £9.6m, while the USA increased 26% to £55.1m.

Full list of imports and exports by country and value

For the monthly data and all other annual changes across four main sectors of the market – including upholstery, mattresses, cabinet and carpets, download the full report below.

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According to its latest trading update, total Q3 FY25 sales rose 6% to $14bn from $13.2bn in 2024.

Within its EU and Australia division, TJX International sales rose 16% to $1.88bn from $1.63bn.

For the third quarter of Fiscal 2025, the Company’s pretax profit margin was 12.3%, up 0.3 percentage points versus last year’s third quarter pretax profit margin of 12.0%.

Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., stated: “I am very pleased with our third quarter results and the strong execution of our off-price business fundamentals by our teams. Our comp store sales increase of 3% was at the high-end of our plan, and both pretax profit margin and earnings per share came in well above our expectations.

“Across the Company, customer transactions drove our comp sales increases, which tells us that our values and treasure hunt shopping experience are appealing to a wide range of customers. I want to specifically highlight our European team for their strong results, which drove the 7% comp increase at our TJX International division.

“With our above-plan profitability results in the third quarter, we are raising our full year guidance for pretax profit margin and earnings per share. The fourth quarter is off to a strong start, and we are excited about our opportunities for the holiday selling season.

“In stores and online, we are offering consumers an ever-changing and inspiring shopping destination for gifts at excellent values, and feel confident that there will be something for everyone when they shop us. Going forward, we continue to see great potential to successfully grow TJX around the globe well into the future.”

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According to its latest Q2 trading update for the period ended 26 October 2024, sales totalled $521m, growing 2% against the prior year comparable period. Operating margin was 7.4% for the quarter on a GAAP basis.

Net income resulted at $29.8m, up from $27.6m. The company returned $70 million to shareholders through the first two quarters, nearly double last year’s comparable period.

Written sales trends remained solid, with second quarter total written sales for the Retail segment (company-owned La-Z-Boy Furniture Galleries®) up 6% versus a year ago and written same-store sales (which exclude the impact of newly opened stores and newly acquired stores) down a modest 1% versus a year ago.

Written same-store sales for the entire La-Z-Boy Furniture Galleries® network decreased 1% versus the year ago period.

Looking ahead, La-Z-Boy said that it expects sales trends to remain under pressure across the industry, but expects its growth to continue to outpace the industry. “We expect fiscal third quarter sales to be in the range of $505-525 million (an increase of 1-5% year-over-year) and Non-GAAP operating margin to be in the range of 6-7%.”

Melinda D. Whittington, President and Chief Executive Officer of La-Z-Boy Incorporated, said: “Our second quarter results demonstrate the continued progress we are making against our strategic pillars and our strong execution throughout the enterprise. We were pleased to deliver a second consecutive quarter of sales growth across our business despite the continued challenging macroeconomic trends.

“The combination of our iconic brand, strong product portfolio particularly in reclining and motion furniture, and our talented team again produced steady results against persistently weak consumer demand. In our company-owned La-Z-Boy Furniture Galleries®, conversion rates, average ticket, and design sales all improved again year-over-year. We are consistently solving for the unique needs of our consumers and transforming houses into homes with our high quality, comfortable custom furniture solutions.

“While our Retail segment continues to lead the way, our Wholesale and Joybird businesses similarly made steady progress in the quarter. With our long heritage of made in North America manufacturing, customers continue to gravitate towards our handcrafted, customized product offering. Additionally, our Joybird brand is making meaningful improvements on its path to sustained profitable growth. Our Century Vision strategy continues to deliver and we have considerable runway ahead as we transform for the next hundred years.

“What will endure is the comfort, quality, and customization for which our iconic La-Z-Boy brand is known. We view these as our true differentiators, which will uniquely position us to continue to outperform the industry and grow share over the longer term.”

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According to its latest trading update for Q3 ended 27 October 2024, Williams-Sonoma, Inc. reported overall sales for the third quarter of $1.8bn, down 2.9% from $1.85bn on the same period last year. Net earnings increased to $248.9m from $237.2m.

Its West Elm brand saw revenues fall 3.5% to $451m from $466m, while the Williams Sonoma brand registered a slight decline of 0.1% to $252m. Pottery Barn sales fell 7.5% to $718m.

Laura Alber, President and Chief Executive Officer, said: “We are pleased with the results of our third quarter, beating both top and bottom-line expectations. The quarter was driven by continued improvement in our sales trend, market-share gains, and strong profit.

“In Q3, our comp came in at -2.9%, with an operating margin of 17.8%, delivering a 7.1% increase in earnings per share to $1.96. Our operating results reflect the operational improvements that we have been focused on all year, and demonstrate the strength of our margin profile in a difficult environment.

“Our strategy of focusing on returning to growth, enhancing our world-class customer service, and driving margin is working. And, as we head into the last quarter of the year, we are optimistic and confident about our business.

“The fourth quarter is the time of year when we shine. And, therefore, we are raising our full-year guidance. We now expect full-year revenues to come in at a range of down 3% to down 1.5%, and we are raising our guidance on operating margin 40 bps to be in the range of 17.8% to 18.2%.”

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According to its latest results for the third quarter ended 30 September 2024, total sales rose 1.8% to $1.3bn from $1.2bn.

North America net sales decreased 0.8% to $1bn, primarily driven by continued macroeconomic pressures impacting US consumer behaviour, while International sales increased 12.4% to $284.7m, primarily driven by the success of new product launches.

Net income rose 14.7% to $130m from $113.3m, while gross margin increased to 45.4% from 44.9%.

Company Chairman and CEO Scott Thompson commented: “We are pleased with our performance in the third quarter. Our global market outperformance, led by double-digit growth in our international segment, resulted in consolidated sales growth year-over-year despite the global bedding industry continuing to perform significantly below historical trends.

“Sales growth coupled with our operational efficiency initiatives and diverse business platform resulted in solid growth in both adjusted EBITDA and adjusted EPS. We continue to see our investments in product, people, and advertising as foundational to our long-term success.”

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The Company also announced that Ken Walma is joining the organisation and will succeed Mr. De Cock as President of the Flooring North America Segment on 1 February 2025, after acquiring comprehensive knowledge of the Company’s operations.

Following his retirement, Mr. Wellborn will serve as Vice Chair of Mohawk’s Board of Directors and assist with these leadership transitions.

“A strong organisation requires effective succession planning that blends institutional knowledge, industry insights and fresh perspectives,” said Jeff Lorberbaum, Mohawk’s Chair and CEO. “As we execute this planned succession, I am pleased Chris will remain on our Board, where we will benefit from his expertise in operations and acquisitions. Under Chris’ leadership, our ceramic business has grown to the largest in the world, with manufacturing across three continents and sales in 140 countries.

“Paul has spent his entire career in the flooring industry in Europe and the U.S., and I have worked with him since 2005. He has led our Flooring North America business for the past six years, driving operational excellence and enhancing the customer experience. Prior to leading our Flooring North America Segment, Paul served as President of the Flooring division in our Flooring Rest of the World Segment and President of Unilin North America. He held various leadership roles within Unilin Group from 1997 until Mohawk acquired the business. Our business leaders across the enterprise know and respect Paul, so this will be a smooth transition.

“As Paul takes on these new responsibilities, we are excited to welcome Ken Walma as the new President of our Flooring North America Segment. Ken has successfully led multiple manufacturing organizations and consistently delivered profitable growth. He has served as Group President of Air Movement & Heat Group at Madison Air, and Vice President and General Manager at Signify as well as holding various leadership roles at Eaton Corporation and Lutron Electronics. His collaborative leadership style will enhance our strong executive team within Flooring North America. Paul, Chris, and I will support Ken’s transition into this new role.”

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Tim Preston, a highly experienced manufacturing, operations and supply chain executive, has joined the Company as Group Operations Director, a key role in which he will lead the Group’s manufacturing activities and the Group’s Future Factory initiative.

This initiative was outlined in the Company’s half year results presentation on 16 October 2024 and is focused on digital-first printing, reducing lead times and increasing productivity.

Tim has more than 20 years of senior operations management experience at international and national businesses, specialising in project delivery and continuous improvement.

In the USA, Scott Christopher Hans has been appointed to the newly created role of Senior Vice President of Sales as part of the Company’s growth strategy in the important market of North America.

Scott, who has more than 20 years’ experience in the luxury design and interiors industry, will lead business development in the North America market with full responsibility to lead sales in all channels and develop opportunities to accelerate growth.

Lisa Montague, Chief Executive Officer of Sanderson Design Group, commented: “I’m delighted to welcome Tim and Scott to Sanderson Design Group. Tim has joined the Company at a very important time for our manufacturing operations owing to the opportunities created by the digitalisation of printing processes.

“We believe our Future Factory initiative has the potential to deliver a much more efficient manufacturing operation. Meanwhile, North America is a key strategic growth opportunity for the Group and Scott’s sales experience will be of great value as we continue to focus on building this important market.”

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According to its latest trading update for the third quarter ended 30 September 2024, total sales fell 2% to $2.9bn, a decline of $60m against the same period last year.

US sales fell 2.3% to $2.5bn, while International sales remained constant at $372m. Gross profit was $873m, or 30.3% of total net revenue, while net losses stood at $74m, narrowing from a loss of $163m.

Wayfair said that active customers during Q3 totalled 21.7 million, a decrease of 2.7% year-on-year, while orders delivered were 9.3 million, a decrease of 6.1%.

Repeat customers placed 79.9% of total orders delivered in the third quarter of 2024, compared to 79.7% in the third quarter of 2023.

Niraj Shah, CEO, co-founder and co-chairman, Wayfair, said: “Q3 marked another proofpoint of resilience for Wayfair with further market share capture in the face of sustained challenges in the category. Once again, we navigated a dynamic consumer environment while driving further discipline on costs to achieve a mid-single-digit Adjusted EBITDA margin for the second quarter in a row. As I’ve mentioned before, our north star is driving Adjusted EBITDA dollars in excess of equity-based compensation and capital expenditures, and we’re pleased to be making noteworthy improvements across each of these fronts.

“We remain laser-focused on delivering healthy profitability while setting ourselves up for success as the category rebounds. The core goal across each of our initiatives in 2024 is to foster customer loyalty and spur repeat business while driving economic value. We’re not just aiming for short-term gains, but building long-lasting relationships with our customers that will be accretive on both the top and bottom lines.”

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According to its latest trading update, Q3 2024 sales were down 6% to $1.1bn, with volumes declining 4%, primarily from continued weak demand in residential end markets.

Third quarter EBIT was $78m, down $13m from third quarter 2023 EBIT.

In the quarter, its Bedding Products division saw sales fall 8%, with volumes down 3%, primarily due to the expected loss of a customer in Specialty Foam and demand softness in U.S. and European bedding markets, partially offset by higher trade rod and wire sales.

Furniture, Flooring & Textile Products saw sales decline 4% with volumes down 2%, primarily from declines in Home Furniture, Geo Components, and Fabric Converting.

Full year 2024 sales and EPS guidance has been lowered as demand is weaker than previously anticipated, particularly within its Specialized Products and Furniture, Flooring & Textile Products segments. Sales are expected to be $4.3–$4.4 billion, down 7% to 9% versus 2023 (vs prior guidance of $4.3–$4.5 billion).

President and CEO Karl Glassman commented, “We continued to make solid progress on our restructuring and operating efficiency improvement initiatives, although demand headwinds were more challenging than anticipated in the third quarter. Despite weaker than expected results, we paid down $124 million of debt and adjusted EBIT margin improved by 60 basis points sequentially this quarter.

“We expect weak demand in our residential end markets to persist into the fourth quarter due to a more challenging macro environment and softening in consumer spending. Additionally, our Automotive business continues to face headwinds from varying impacts of the transition to electric vehicles, consumer affordability issues, and economic softness in Europe. As a result, we are reducing our sales and EPS guidance.

“We are focused on simplifying our portfolio to businesses that are the right long-term fit. As a part of this strategic review, we are exploring the potential sale of our Aerospace business. Looking forward, we are confident that the actions we are taking to strengthen our balance sheet, improve operating efficiency and margins, and position ourselves for future growth opportunities will create long-term shareholder value.”

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According to its latest trading update for Q3 2024, total sales fell 1.7% to $2.71bn from $2.76bn in 2023. Net earnings resulted at $162m, up from a loss of $760.3m.

Commenting on the Company’s third quarter results, Chairman and CEO Jeff Lorberbaum stated: “We delivered a solid performance in soft market conditions, which reflects the positive impact of our sales initiatives, productivity and restructuring actions as well as lower input costs, partially offset by pricing and mix pressure.

“Due to our increased earnings and management of working capital, we generated free cash flow of $204 million in the quarter, for a total of $443 million year to date. This year, we are investing approximately $450 million in capital projects focused on growth, reducing costs and asset maintenance.

“In all our regions, market conditions were slower than anticipated given high interest rates, lingering inflation and lower consumer confidence. During the quarter, our sales initiatives delivered volume gains in many product categories, offset by pricing pressures and negative mix. Though the commercial channel has lost some momentum as the year progressed, it continued to outperform residential.

“In our markets, central banks are shifting from a restrictive policy to a more balanced approach to stimulate their economies, which should benefit our industry as consumer and business spending expands. We expect that recent interest rate cuts in the U.S., Europe and Latin America will strengthen housing markets and increase flooring sales next year.

“We remain focused on managing the controllable aspects of our business to enhance our results. With gross margins under pressure from weaker industry demand, all of our businesses are implementing strategies to maximize volumes and plant utilization. To increase sales, we are launching innovative new products, marketing initiatives and promotional activities.

“We are enhancing productivity and exercising disciplined cost management in all aspects of the business. We are executing the restructuring initiatives that we announced last quarter, which are expected to yield more than $100 million of annualized savings. These actions include rationalizing inefficient assets, streamlining distribution, and reducing administrative costs. These projects will continue throughout next year to achieve our planned savings.”

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Members who enrol in this programme will unlock exclusive access to significant value and convenience, with benefits including a reward offering that can be applied to future purchases, free shipping, exclusive sales, and special offers and discounts. 

“We designed Wayfair Rewards to deliver extraordinary value to our customers with meaningful perks that can be felt immediately,” said Wayfair’s Chief Commercial Officer Jon Blotner. “Whether you’re embarking on a remodel or just looking for a new throw pillow or kitchen gadget, our diverse catalog combined with our new rewards programme ensures members get exceptional savings every time you shop with us.”

Wayfair Rewards is a membership programme spanning Wayfair’s full portfolio of brands, and is accessible via a $29/year subscription. Benefits include:

• 5% back in rewards on all merchandise across Wayfair and its specialty and luxury brands – AllModern, Birch Lane, Joss & Main, and Perigold. Rewards never expire so long as customers maintain their membership, and can be applied towards future purchases
• Exclusive member-only sales, with steep discounts on products across all categories, including national brands
• Early access to Wayfair’s major sales events, including Way Day
• Free shipping* on all items, regardless of order size
• Priority customer service with a dedicated phone line for fast and high quality service
• Special offers & perks, including a birthday offer

“We want to make it easy and affordable for people to create a home that truly reflects their style and meets their individual needs,” said Blotner. “From home renovations and seasonal decorating to everyday updates, Wayfair Rewards gives our members unmatched value and a seamless shopping experience that provides substantial, rapidly accumulating benefits and keeps rewarding them long after they’ve checked out.”

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