American Signature, Inc., parent of VCF, filed for Bankruptcy. Fallout in 17 states.
ASI Shutdown
The furniture retailer that filed for bankruptcy and is shutting its doors is American Signature Inc. (ASI). ASI is the parent company of two very well-known furniture retailers:
- American Signature Furniture
- Value City Furniture
In total, the company has 120 stores in the 17 states where it operates. Value City is located in more states than American Signature Furniture and has stores in 11 states.
Value City Furniture and American Signature Furniture are household names, and RocketReach reported that Value City Furniture alone had over 1,300 employees and received more than two million web visits.
More details on Yahoo!Finance.
75-Year Company Closes All Stores
Please note ASI Files Voluntary Petitions for Chapter 11 Relief
“For nearly 75 years, American Signature has served as a family-owned furniture destination that communities could rely on to provide style, quality, and value,” said Rudy Morando, Co-Chief Restructuring Officer for ASI. “In the face of the ongoing macroeconomic headwinds that have impacted the entire home furnishing industry, the Company has carefully evaluated its options to assess the best path forward in the current operating environment. Through that review, we determined that entering a court-supervised process will provide the best opportunity to maximize value. We deeply appreciate our team members, customers, and partners and are determined to serve them throughout this process.”
Value City Furniture and American Signature Furniture stores and websites remain open at this time and will continue to fulfill customer orders and provide ongoing customer service to the best of its ability throughout the court-supervised process. Customers can benefit from discounts on a wide selection of home furnishings including living room, dining room, and bedroom collections in addition to decor, lighting, mattresses, and rugs for the holidays. Prior to the chapter 11 filing, certain Value City Furniture and American Signature Furniture stores commenced store closing sales and are offering deep discounts while merchandise lasts. A complete list of Value City Furniture and American Signature Furniture locations can be found at the Store Locator.
Best wishes to all involved.
We Pay the Tariffs Anecdotes, Lost Sales and Going Bankrupt
A reader brought this story to my attention in response to We Pay the Tariffs Anecdotes, Lost Sales and Going Bankrupt
Reader Anecdote: “The furniture tariffs decimated my wife’s employer, VCF, a 75-year furniture chain. Entered Chapter 11 last week. 3,500 about to lose their jobs in January. Ironically, this hits their furniture manufacturers in the Carolinas. It will be a net loss of manufacturing jobs in the end.”
Trump’s tariffs, allegedly designed to bring jobs back to the US, will destroy more jobs than it creates.
This is no surprise. The same applies to steel and aluminum. It’s how tariffs work.
No jobs will return to the US over this nonsense. Tariffs are a net destroyer of jobs while driving up prices in the short term.
Related Posts
February 11, 2025: Trump’s Steel Tariffs Now Will Work as Good as the First Time
Q: How’s that? A: Very poorly.
March 13, 2025: The Amazing “Success” of Trump’s 2018 Aluminum Tariffs in One Picture
I hope you can take a bit of headline sarcasm because the true story follows.
September 6, 2025: Trump’s Aluminum Tariffs Seriously Backfire Already
Tariffs did not and will not bring production back to the US.
October 2, 2025: Trump Seeks a $10 to $14 Billion Farmer Bailout
Tariffs backfired on US agricultural exports.
November 27, 2025: Deere to Take a Big Tariff Tax Hit of $1.2 Billion in Fiscal 2026
Deere flags a bigger hit from tariffs in 2026 than 2025.
ISM Manufacturing Contracts for the 35th Time in 37 Months
Finally, please consider my post from today ISM Manufacturing Contracts for the 35th Time in 37 Months
Here’s a pertinent comment: “We are starting to institute more permanent changes due to the tariff environment. This includes reduction of staff, new guidance to shareholders, and development of additional offshore manufacturing that would have otherwise been for U.S. export.” (Transportation Equipment)
Hoot of the Day: That company is developing more offshore manufacturing and firing US staff, not bringing more manufacturing back to the US.
To repeat: Tariffs did not and will not bring production back to the US. They are a guaranteed job destroyer.
Steel and aluminum explain why. For every steel or aluminum job gain, there are tens-of-thousands of users and buyers of steel and aluminum, all of which lose from tariffs.
So, if you are rooting for more tariffs, you are a brainwashed, tariff-loving economic illiterate (like Trump and Biden) rooting for net job losses. Alternatively, you are someone in the industry spouting economic nonsense for personal gain.
This story does not make sense. Tariffs are not imposed on Carolina manufacturers. They are imposed on imports so why is this company going offshore for manufacturing??
I think you are conflating two different stories, one an unrelated comment from ISM, the other furniture.
But yes, Tariffs killed Value City – If you are debating that, then you are crazy.
The Carolina furniture fabricators are all using imported fabrics, textiles and raw materials. Many of the value-focused chains like Ashley thought pivoting to domestic fabrication and manufacturing would skirt some of the tariffs as they did during the first Trump term. That has not been possible this round with the addition of every country.
You get what you vote for. In Biden’s case you can argue he disappointed because he said he would govern as a moderate and then abandoned that on certain policy areas, and because he implied to be a bridge and then decided to run again. In Trump’s case the country gets exactly what was promised: impoveration by tariffs, support for Russia in its war, pardons for criminals and use of the government apparatus on political enemies.
I know people say Biden did that too, but I personally disagree with that – I thought the cases against Trump were merited. BUT even if they weren’t the scale of abuse under Trump is massively larger.
Trump did promise to end wars and not start new ones, so I guess that could be seen as something the country did not vote for. Too bad, you fell for the con.
My house is full of furniture made in the USA. I started collecting one piece at a time 30 years. I bought a nice piece just last month.
For centuries now, The Amish have been building all wood furniture, of lasting quality, and excellent craftsmanship! Not overly expensive at all, for what you’re getting. You will have to wait for it, as they are generally custom work, but have general stock as well.
Have friends in PA. And have bought some beautiful products from the Amish. On a side not, May years ago, I had them make, freeze and ship My First Turducken! It was amazing and totally well worth it!!!
So isn’t this how a free market is supposed to work, or am I missing something???
We say tax imports to spur domestic production. Those involved with the old import business model goes under. Some other business sees the opportunity to grow a domestic business. Sure it takes some time, but let the free market (domestically in scope) do what it inevitably does.
Hate Trump, but making the US more self-dependent is a good thing, and it’ll take time to reverse the Globalists.
Are you really that stupid?
The free market would not put on tariffs destroying businesses.
The free market destroyed plenty of businesses by exporting jobs overseas in the first place.
The free market also used child labor, dangerous working conditions and bare subsistence wages in the old textile mills. It was also famous for locking the doors so the employees could die in a fire.
The free market also was fond of sanding the sugar and adulterating the food in other ways.
The free market would bulldoze Zion to get the coal underneath it.
You are putting the free market on far too high a pedestal. Go back and read your Dickens.
Choking regulation rendered the US uncompetitive. That’s why we loss jobs to other countries, in spite of our massive capital/equipment advantage over those countries. That isn’t free market either.
if you wan to see choking look at air pollution in India or China then tell us its the regulation that’s the problem.
of Republicans had their way we’d still be breathing in leaded exhaust fumes, and companies would be openly dumping chemicals into our drinking water, and kids would be working in factories
Really? You think the vast mass of regulation choking the US economy involves not polluting? You haven’t tried to start a business in the US, which fewer and fewer people (as a proportion of the population) are trying to do. Regulation adds explicitly 24% to the cost of building the structure your business functions in.
Don’t the Democrats continue to do this today? With all the things I have been reading about of late. From selling children, pimping children, forcing woman to be prostitutes to pay back what they owe, using child labor, have them breathing fumes that potentially may kill many before they are even grown adults. Dumping chemicals in the water supplies.
Didn’t all of this and much more just occur over the last 4 years of The Democrat Illegal Infiltration of Illegal Aliens into America? That’s what I have been reading all over the press over the last 4 Years…
Soon we’ll be a Communist country… see…
https://www.youtube.com/watch?v=2xcQIoh3FQQ
High labor cost, and too many conglomerates running too many subsidies, with only 1 Goal in mind for all of them, and that is to make money. Competition is required to bring cost down!
And this bankruptcy has absolutely nothing to do with the overall economic shock from the unprecedented Biden era induced “COVID” response?
Come on Mish, you know better than that. The entire housing economy and everything involved with has been ruined by the Biden Era boom to bust policy – not an attempted return to External Revenue sources instead of Internal Revenue sources. This nation has a longer more profitable history prior to IRS.
How is a market with tariffs a “free market?”
How is a market that is taxed or penalized on income (profit) and then rewarded or non-taxed for providing overseas jobs a “free” market???
For all the TWS suffers, I feel your pain.
All of us can be misled by a clever person or pathological liar. It is tough to admit that we have been taken in. That we believed lies. Especially when those lies are repeated everyday by Fox News and its supermodels. Pretty faces that drill propaganda into our heads. It is a sign of character to see through it and admit that you were deceived.
Some can not, even when the facts of the deception are clear and obvious. Their refusal to admit they have been fooled only makes them more strident in their shouting down both the evidence and in dehumanizing those that point the evidence out.
Declaring economic war on the world leaves American businesses with only the American market to sell to (perhaps 125 million households). Now that virtually everyone hates us, China has lots of new customers and our companies are either going bankrupt or moving to other nations where they are economically free to do business.
China has 8 billion potential customers, With the US declaring economic war and punitive import tariffs, our companies are seeing their market shrink to 325 million.
Intended consequences or simply ignoring the historical record of failure for nations that implement tariffs.
Lol…The more you comment, the more you make the case for an exit strategy….
I think you’ll eventually come around, not for yourself of course but for your offspring when the time comes 😉
I just hope it’s not too late.
Frosty said he has a farm in a stable rural community. If I were him, I might stay put too.
(I didn’t have his resources. So i had to move.)
Except the path for farming has already been written. Large corporate farms will crush the small mom & pop operators the same way Walmart decimated retail in every small town across America.
The process began decades ago and it will accelerate now for a variety of reasons:
There’s more but why bother, you either see it or you don’t. Those that do see it will move on now, those that don’t will just go bankrupt or have to sell anyway.
If those TWS sufferers were day traders, they were wiped out to negative account balances on high leverage many months ago
Oh Frosty, are you discounting the MSM Propaganda, and when those lies are repeated everyday by ABC, CBS, NBC, CNN, MSNBC, oh, and THE VIEW, and its Buffalo Spitting propagandist spewing into our heads. It is a sign of character to see through it and admit that you are being manipulated & deceived…
Costco suing Trump over tariffs…..looks like it’s the end of Trump. No one messes with Costco. No one! I was going to cancel my membership given I’m leaving next year but now I’m going to extend it! Go get ’em tiger!
https://www.nbcnews.com/business/business-news/costco-sues-trump-tariff-refunds-rcna246860
Pick up some coffins for your Boomers.
Your ageist joke lacks humor,
Sincerely,
Gen X
The furniture market follows the housing market. Remember at the end of the housing bubble when people bought houses, but not furniture because the house was so expensive? The housing market is pretty slow now and expensive.
Oh boo hoo. You can buy fine furniture made in the USA.
Most Americans cannot afford American made.
You mean like the people in the Carolinas making it? Like it said? In this article?
Follow up question: are you mentally retarded?
They are assembling furniture manufactured overseas. There are USA based manufacturers that do it all.
Ah yes, the ableist joker, are you not the cleverest one there is, telling people they are mentally deficient for holding opinions.
Disagreeing with a fact isn’t an opinion, so I’ll take that as a yes.
Including at estate sales.
The only way jobs are coming back to the US is if they figure out how to lower the cost of employment in the US by 80%. Otherwise, jobs will just move from one foreign nation to another. We spent decades exporting the result of inflationary policies and cannot bring jobs back without bringing back the inflationary effect that they worked desparately to avoid. Without a global reset meaningful manufacturing job creation is a fantasy. It is just politial propaganda to manipulate voters.
When ASI is achieved the cost of labor/production will fall more than 80% unfortunately humans won’t be doing the labor.
We aren’t competitive. It’s more than wages, include the other costs of manufacture-taxes, regulations, work rules etc. The US is an over mature economic basket case. Don’t expect manufacturing to return as we have known it. Robots, automation etc are the future not mindless labor.
LOL deporting millions of low wage earners is not the best way to lower the cost of labor, it’s the best way to juice it higher. Go Trump?
I just tried to go their website (the store locator link above) and also via google to see if there were any near me in Florida as I’ve never heard of either company before.
Turns out there are Florida stores but none near me in West Palm (40 minute drive and no one is driving 40 for furniture stores). Their website is awful (I’m sure that doesn’t help generate any business) and looks geared to very low income buyers (everything you click on to buy comes with payment plans or $1 down now and no payments for X amount of time type thing.
I suspect this is a low end retailer going out of business because the lower income people are officially broke. Another canary in the coal mine for low end retail.
I thought tariffs would make small business go bankrupt.
Don’t you worry, large businesses will ALSO go bankrupt under Trump’s crackpot self-enrichment scheme.
“American Signature reported a decrease in sales from $1.1 billion in 2023 to $803 million in 2025”
New furniture is discretionary. People can do without or buy used instead.
The top 25% are carrying the economy right now. The rest are trying to afford $7 per pound ground beef, if they’re lucky enough to find it that cheap.
Walmart prices are well under $7 lb. If don’t need really lean and are willing to buy larger sizes (break into smaller parts and freeze) you can get it for under $5 a lb.
But yeah I agree with you that the top earners are carrying things (I’d suggest it’s top 20% at most).
Beef prices in Az are $8. per lb and over. Pork is ok and chicken is so-so price wise.
In California, the cheap 80% stuff is on sale for $7.97/lb. Regularly $9.99/lb.
Finely textured beef (a.k.a. pink slime) isn’t the same as actual ground beef, but you are correct in that it is under $7/lb in many locations.
Offal, eyes, brains reproductive organs and assholes. Yum
The very cheapest 27 percent fat (!!!!!) bulk ground beef at my local Walmart in CA is $5.94 per pound. It comes in a tube.
The top 25% don’t shop at Value City.
I’m very sorry to hear this, but only the company executives know whether or not these companies had any meaningful time left to remain open, if Trump hadn’t placed tariffs. Then we have this:
“This is no surprise. The same applies to steel and aluminum. It’s how tariffs work.”
We’re still waiting for the wave bankruptcies since the 3/12 25% tariffs & the June 50% tariffs. Just saying it’s easy to “possibly” cherry pick to support your narrative. Again, for all we know, these companies may have gone bankrupt sometime in 2026 without tariffs.
You sure love to exaggerate and make things up.
“We’re still waiting for the wave bankruptcies since the 3/12 25% tariffs & the June 50% tariffs.”
I have never heard anyone here use the phrase “wave of bankruptcies”. Where does that come from?
The common complaint against tariffs are that they raise input costs for manufacturers, making the manufacturers less competitive and less profitable. In some cases, that “may” result in bankruptcy. But in most cases, businesses will try hard to adapt to the tariff damage as best they can.
Perhaps you think that tariffs improve competitiveness and profitability? If so, perhaps you could explain how that works?
Sorry. Let me be clearer. Back over the summer, you said tons of people were going to lose their jobs due to steel tariffs. You are constantly talking about how Trump’s tariffs will make US companies less competitive. I would assume this means two things: reduced profits & eventually layoffs.
That’s exactly what you claimed. To-date, I have not read or seen you post a SINGLE thing about companies who use steel, made in the USA or imported laying off people.
Let me know if I COMPLETELY misunderstood what your past statements have been.
What tariffs do is level the playing field. Foreign producers like those in China aren’t the cheapest source anymore which forces companies to find other sources. What that can mean is buying more domestic & reducing dependency on foreign production.
Be that as it may, I’m not an expert & don’t claim to be. I’m just pointing out that to-date these predictions you made don’t appear to have come to pass.
OK BenW what is it about this you fail to understand:
Manufacturing Employment down 58,000 since April.
What is it you fail to understand about ISM comments?
https://mishtalk.com/economics/ism-manufacturing-contracts-for-the-35th-time-in-37-months/
“We are starting to institute more permanent changes due to the tariff environment. This includes reduction of staff, new guidance to shareholders, and development of additional offshore manufacturing that would have otherwise been for U.S. export.” (Transportation Equipment)
“The company has sold off a big part of the business that generated free cash while offering voluntary severance packages to anyone.” (Petroleum & Coal Products)”
“Business continues to be a struggle regarding long-term sourcing decisions based on tariffs and landing costs. External (or international) sourcing remains the lowest-cost solution compared to U.S. production/manufacturing. The delta is smaller now, reducing margins.” (Computer & Electronic Products)”
The answer is nothing. You are bright enough to understand all of those. But your TWS makes you ignore them.
A search for 58,000 through the ISM report that you linked to finds zero hits. Do I think manufacturing is up or down since April? I think it’s probably down, but I’d still like confirmation on your stated 58K number.
“The Production Index expanded in November, registering 51.4 percent, 3.2 percentage points higher than the October reading of 48.2 percent.”
“Since May 2022, the Employment Index has contracted in 36 of 43 months.”
SS, ISM SAYS EMPLOYMENT WAS CONTRACTING FOR 3 YEARS BEFORE TACO’S TARIFFS CAME ON THE SCENCE? WELL, THAT CERTAINLY CREATES AN ALTERNATE REALITY DOESN’T IT?
The ISM® Prices Index registered 58.5 percent in November, increasing 0.5 percentage point compared to the previous month’s reading of 58 percent, indicating raw materials prices increased for the 14th straight month (and at a faster rate compared to October).
So, prices have been rising for at least 4-5 months prior to TACO’s arrival.
“ISM®’s Imports Index remained in contraction for the eighth straight month in November after a three-month period of expansion.”
This is a reason why NET EXPORTS are up so much in the Fed GDPNow data which is a good thing, IMHO.
There you go again.
Exaggerating. Lying. Putting words in my mouth.
Show me where I said “tons” of people were going to lose their jobs. I never said such a thing.
All I have ever said was that tariffs would cause more job losses than job gains.
“Let me know if I COMPLETELY misunderstood what your past statements have been.”
It isn’t a “misunderstanding” on your part.
It’s that you completely make things up.
Stop saying that “my predictions were wrong”, when I never made the prediction in the first place.
And I am getting tired of it. Because I have called you out on it many times. And you keep doing it anyway.
Regarding tariffs. They do not level the playing field. They protect inefficient domestic producers at the expense of domestic companies that must pay higher prices.
Look at aluminum. We have 4 smelters producing 25% of our aluminum. They employ 2200 workers. Tariffs allow them to raise their prices to match the price of imported aluminum+tariffs. This raises the price of aluminum for all US businesses that use aluminum. There are over 100,000 US businesses that use aluminum. Their input costs go up, and they are less competitive compared to foreign manufacturers. How many workers at those 100,000+ businesses will lose their jobs? I don’t know but I suggest more job losses than what might be gained in the 4 smelters.
NOPE!!!
Over the summer, you said multiple times that that TACO’s steel tariffs would lead to a wave of layoffs due to increased costs of raw materials. I’m not making this up, and you can sit there and call me names all day long.
Thank you for being the PapaDave watch dog, now go collect your pay for your valuable services you have provided.
Nope. Go back and find where I said “wave of layoffs”. You won’t. You just keep making shit up and I am tired of it.
I would be happy to bet you some serious money that you cannot find any of the recent quotes you claim I made. We could each give the money to Mish for holding.
Same with your claim that I said “tons of people were going to be losing their jobs”.
Or “waves of bankruptcies”.
How much do you want to bet? Put your money where your lying mouth is.
It’s not a playing field; it’s a market. The market rewards low-cost, high-quality producers. That leaves the US out of many markets.
Correct. And consumers can buy from whomever they want to.
Markets are playing fields. China is like an athlete that dopes & takes tons of steroids to amplify their competitive advantages. The US, in general, has zero ability to compete with China in terms of cost.
Wow PapaDave has a personal comments babysitter in BenW. HOW CUTE!
Well since you continue to spout TWS nonsense, please note that trump backed off 50% tariffs.
Average increase is now 18% due to numerous TACOs.
As for bankruptcies and layoffs, just starting.
Now please stop the bullshit.
I’m not spreading BS, you just don’t like my opinions, because they don’t support your narrative. I have NO IDEA what really led to these furniture companies going bankrupt & neither do you.
Like TexasTim65 states above, these companies appear to be low-end retailers. Well, we all agree that the lower class has been in a recession for probably at least a year now, so I’m not surprised they’re buying a whole lot less furniture among other things. Did the tariffs hurt or help these companies. They probably hurt them, but then I could point to companies that the tariffs are helping.
That’s the problem here. You’re making cart blanch statements that aren’t necessarily based on the full context of what happened to further a narrative that TACO’s tariffs are crippling American businesses which remains quite debatable.
The only persons “helped” by tariffs are employees of those select few companies at great expense to everyone else.
This is a proven fact, not an opinion.
“but then I could point to companies that the tariffs are helping.”
For grins, name them
1. Steel & Aluminum Producers
2. Defense & Aerospace
3. Chemicals & Industrials
4. Pharmaceuticals & Consumer Goods
Why Tariffs Help These Companies
Potential Beneficiaries:
2. Energy & Domestic Resource ProductionTariffs on imported energy sources, such as liquefied natural gas (LNG) or crude oil, could favor U.S. producers and refiners.
Potential Beneficiaries:
3. Agriculture & Food ProductionIncreased tariffs on imported agricultural products could provide a boost to U.S.-based food producers and farming operations.
Potential Beneficiaries:
4. U.S. Semiconductor & Technology Firms with Domestic ManufacturingWhile the broader tech sector faces challenges from trade tensions, some U.S.-based semiconductor and hardware manufacturers could see benefits from government incentives aimed at reshoring production.
Potential Beneficiaries:
AI-compromised thinking / sophistry
You are absolutely spreading BS. You make up things Mish never said, like “waves of bankruptcies”. If you can’t understand why he is upset, then you are a dumb f*ck.
It isn’t about your “opinions”. It’s about your fabrications. I’m surprised he hasn’t banned you for being such a liar.
Okay, so I chose the wrong word, bankruptcies. My bad. I agree that’s an exaggeration but if things get bad enough DUE TO TARIFFS then this will be the result. Corrected:
Where’s the list of companies announcing layoffs that are directly associated with steel / AL / copper imports?
So you admit that you are a f*cking liar. Yet you keep doing it.
18% – cool, that sounds like an amount that’s not going to cause financial Armageddon. Thanks for clarifying. I respect the fact that you know more about the nuts & bolts, but I’m not going to accept your abject anti-tariff position. It’s your position, which I don’t call BS, so I’d appreciate your showing the same respect.
Again, you’ve stated previously that America must do more to manufacture strategic goods. I’ve asked many times, but I don’t think you’ve ever taken up my challenge to list those 10 or so things that fit that bill.
And then, more importantly, what does a well thought out & implemented national plan look like to achieve that goal?
I have indeed mentioned areas where I support government interference.
In general, matters of genuine national security.
I have named two.
Chips
Rare Earth minerals
There could be more but not aluminum, not steel, not clothes, toys, or even cars.
And I mentioned what I would do.
1. I praised Biden for getting getting TSMC to build in the US (only one of 2 things Biden did that I agree with)
2. I have repeatedly called for cooperation between the US, Canada, and Mexico on rare earths. That’s been my stated position for years.
Neither is a matter of tariffs. Both are matters of subsidies. We need to be independent of China on both. Getting TSMC here was a great win by Biden. The cost was a mere $6 billion + $5 billion in loans. What a great deal.
My idea on Rare Earths applies to Greenland and Canada. Both have lots of minerals and land. Mexico has cheap labor. Instead of cooperating with Canada, Trump engaged in stupid tariffs and repeatedly made idiotic comments about Canada becoming the 51st state. Quite idiotic for multiple reasons: Canada is quite liberal and would vote with Democrats, and second it is stupid to taunt genuine allies. Canada is now in discussion whith China over oil exports. How stupid is that besides extremely?
And Trump would not rule out invading Greenland. The result was Greenland opting to stay closer to Denmark than go independent. Again, blatant stupidity.
A third possible strategic interest is AI, but it does not need any financial help.
Let’s all give BenW the time he needs for his next patented anti-Mish screed
Mish, that’s a good start. I would say pharma certainly needs to be on that list. I would also say we need competitive solar panels & batteries & any technology that’s needed to continue the growth of nuclear power, especially SMRs.
And, I agree completely with your points about TACO polluting our relationship with CA, but I don’t see for obvious immigration reasons MX as a strategic partner, not at least until they’ve taken decisive action to help with the War on Drugs (which under their current president they’re not going to do).
So I think leaving aside MX, we have a lot of agreement. I’ll stop giving you a hard time about strategic goods. I know you’ve stated in the past the need for the USA to make some key changes.
Thanks for the reply!
Well not profitable so in bankruptcy. Now someone can purchase their business assets. Manage them better and make profits based on their lower costs.
Chris Williamson on US manufacturing PMI:
https://www.pmi.spglobal.com/Public/Home/PressRelease/7c2acaf676064c92bab19610524887d3
Chris Williamson, Chief Business Economist at S&P Global Market Intelligence “Although the headline PMI signalled a further expansion of factory activity in November, the health of the US manufacturing sector gets more worrying the more you scratch under the surface. The main impetus came from a strong rise in factory production, but growth in new order inflows slowed sharply, hinting at a marked weakening of demand growth. “In short, manufacturers are making more goods but often not finding buyers for these products. This combination of sustained robust production growth alongside weaker than expected sales led to a worryingly steep rise in unsold inventories. For two successive months now, warehouses have filled with unsold stock to a degree not previously seen since comparable data were available in 2007. This unplanned accumulation of stock is usually a precursor to reduced production in the coming months. “Profit margins are meanwhile coming under pressure from a combination of disappointing sales, stiff competition and rising input costs, the latter widely linked to tariffs. “Encouragingly, manufacturers have grown more optimistic about the year ahead, with the ending of the government shutdown helping lift confidence from the sharp drop suffered in October. Optimism is being fueled by hopes of improved policy support, including lower interest rates, as well as greater political stability, though it is clear that uncertainty remains elevated and a drag on business growth in many firms, holding confidence well below levels seen at the start of the year.”
Mish: Curiously, that is the same as ISM. Production Up,
Mitt looted Toys R Us and K B Toys like the Grinch.
Chock up another win for taco’s tariffs that will only have a “transitory” impact on the economy (much like earlier inflation calls from the fed).
I bought a made in the US custom couch 15 years ago and paid a little extra money to have the configuration I wanted along with my choice of a super comfortable fabric. Couch sits in our main TV room and gets the most butt traffic. Still looks new. One of the best pieces of furniture I’ve ever bought. I’ll never buy another Vietnam or China couch again.
“Fifteen years ago” is a million light years in economic terms. It’s unlikely anyone could find custom couch, with their choice of comfy fabrics that was made in the US at an affordable price today.
And now, thanks to or economically illiterate president, they can’t buy a Chinese or Vietnamese one either.
Hey! All you need is ONE DOLL and then you can sit on the floor.
I’m surprised they’re still in business. Made in America
https://www.templefurniture.com/
Corporate HQ is in Missouri, stores in TN, IL, IN. I will go out on a limb and say the owners were probably big Trump supporters. And this statement probably confirms it too.
You reap what you sow….
True. You reap what you sow. But Kamala wouldn’t have been a day at the beach for small business either.
The lesser of two evils is still evil.
according to local reports its an Ohio based company
But still a hit for the area
https://www.ksdk.com/article/news/local/furniture-chain-owner-local-stores-files-bankruptcy-protection/63-d77dcd54-0c2b-4574-84c2-e51f5f2cdd98
Ya moved outta USA yet????
Can’t wait.
Once I retire I will have PLENTY of time to post more on Mishtalk. Be careful what you wish for…..Is that you BenW under a pseudonym?
You aren’t fooling anyone bud.
He’s in line gassing up at Costco like it’s 1975.
Edv why are you so against people holding opinions that aren’t yours, so much so you want them to leave the USA? That is not very tolerant at all. You maybe voted for Trump?
You are correct, sir! They have been long owned by the Schottenstein family, a name long-respected living in Hicksville, Indiana, right?
https://www.forbes.com/profile/schottenstein/