It looks like bad news bears for the home furnishings industry. Like many other businesses, it's in trouble.
Quite a scary thought - particularly for my colleagues and I who rely on the market being stable for our own job success. This article in yesterday's Times tells all. And my favorite part is this quote from Ray Allegrezza, an editor at Furniture Today, another trade publication akin to FFI:
"If you had a billion dollars, you could buy the entire portfolio of publicly traded furniture companies, including Thomasville and La-Z-Boy, and still have money left over to go to McDonald’s."
So...in other words, one eighteenth of last year's Wall Street bonuses for a year of failure could have saved the entire furniture industry. Great.
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