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US furniture retailers are seeing a slowdown in sales as Americans who are already struggling to afford homes in today’s market aren’t shelling out for a new dining table or couch.

Last week, high-end furniture retailer RH reported $800 million in revenue in the three months ended July 29 — a 19% drop from last year’s period, when revenues hit $992 million.

The company attributed the dip to the stalling housing market, where mortgage rates are sitting at the highest level since 2001, forcing many homeowners in major US cities to sell at a loss.

“We continue to expect the luxury housing market and broader economy to remain challenging throughout fiscal 2023 and into next year as mortgage rates continue to trend at 20-year highs,” the company said in its earnings report.

Williams-Sonoma, the San Francisco-based firm behind pricey interior stores Pottery Barn and West Elm, posted its second-quarter earnings late last month, which showed year-over-year decreases across the board.

Aside from net revenues falling 13% from last year, to $1.86 billion, Williams-Sonoma’s profits also fell to $757.56 million — down from $928.81 million in 2022 — while operating income, comparable brand revenue and merchandise inventories also decreased.

In addition, Williams-Sonoma reported a 20% revenue decline for West Elm, and a 10% dip in sales for Pottery Barn.

Virginia-based luxury furniture retailer Hooker Furnishings also reported losses for the quarter, when revenue slid to $97.8 million — down 36% from $152.91 million a year ago.

Net incomes at the manufacturer — which sells its home goods at Wayfair and Macy’s — also took a massive hit year over year, from $5.54 million to a dismal $785,000.

Hooker’s chief executive Jeremy Hoff also attributed the company’s losses to mortgage rates, which have “slowed down housing activity.”

“The continued rise in interest rates has suppressed customer — consumer confidence,” Hoff added during an earnings call with investors following the company’s earnings report.

Perhaps also because of sky-high benchmark 30-year home loans — which climbed to 7.23% from 7.09% last month, per mortgage buyer Freddie Mac — investors also appear insecure about the future of the furniture industry, as shares of RH fell nearly 18%, to $313.23, in the past five days — since the company reported its second-quarter earnings.

A year ago, the average 30-year home loan rate was 5.55%.

Hooker Furnishing’s share price, meanwhile, fell nearly 9%, to $19.16, while Williams-Sonoma’s stock slipped less than 1%, to $142.52, in the same five-day period

Representatives for RH, Williams-Sonoma and Hooker Furnishings did not immediately respond to The Post’s request for comment.

The shift in consumer spending on furniture makes sense, as home buyers face an ongoing affordability crisis and consumer spending is expected to shrink in early 2024 the first quarterly decline since the start of the pandemic, according to Bloomberg’s latest Markets Live Plussurvey.

More than half of 526 respondents, or 56%, believe that personal consumption in the US will turn negative in the new year, while another 21% said the reversal will happen even sooner, in the final quarter of 2023, Bloomberg found.

The outlet blamed the pessimism on high borrowing costs affecting household budgets and COVID-era savings drying out.

Thus, the “nepo baby” discussion has found its way from social media into the real estate market, where recent findings from the brokerage Redfin reveal that a significant portion of young homebuyers used family money to afford a down payment for a home. 

According to Redfins survey of more than 500 buyers under 30 years old, 38% had financial assistance from relatives for their down payment. 

The situation is significantly a result of the current crisis of housing unaffordability, especially as inflation keeps its grip tight on the American economy.

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Bodies of four Israeli hostages handed over by Hamas – as parading of coffins labelled ‘inhumane’

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February 20, 2025

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Bodies of four Israeli hostages handed over by Hamas - as parading of coffins labelled 'inhumane'

The bodies of an Israeli mother and her two children have been handed over by Hamas – as the process was labelled “inhumane” by the United Nations human rights chief.

Shiri Bibas, four-year-old Ariel, and nine-month-old Kfir were kidnapped from a kibbutz during the militant group’s October 2023 attack.

The children’s father, Yarden Bibas, was released on 1 February as part of the ceasefire deal between Hamas and Israel.

Live updates – Hamas attacks Netanyahu as it releases bodies

Shiri Bibas and her children, four-year-old Ariel and 10-month-old Kfir are yet to be released and there has been no word of them
Image:
Shiri Bibas was filmed cradling Ariel and Kfir as they were kidnapped by Hamas

The body of journalist and peace activist Oded Lifshitz, who was 83 when he was abducted, was also handed over.

Hamas has said they were all killed in Israeli airstrikes near the start of the war. The group has never provided evidence to back this up, while Israel has not confirmed the claims.

The Bibas family has become a powerful symbol of the 251 Israelis kidnapped on 7 October – not least because Kfir was the youngest taken.

The bodies were handed to the Red Cross in the Gaza city of Khan Younis on Thursday morning.

Oded Lifshitz, 84, taken from Nir-Oz. Pic: Bring Them Home Now
Image:
Oded Lifshitz, 84, was also taken from Kibbutz Nir Oz. Pic: Bring Them Home Now

Four black coffins were displayed on a stage before being put into vehicles and driven towards Israel as masked members of Hamas and other factions looked on.

United Nations human rights chief, Volker Turk, called the parading of the four bodies “cruel” and “inhumane” in a statement on Thursday.

He said: “Under international law, any handover of the remains of deceased must comply with the prohibition of cruel, inhuman or degrading treatment, ensuring respect for the dignity of the deceased and their families.”

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‘The life he thought he was coming back to is gone’

Sky’s international correspondent, Diana Magnay, added that Hamas used the handover as a “propaganda opportunity” and had tried to send the message: “This was caused by you, you should take responsibility for it.”

“They had missiles on the stage where the four coffins were, saying they were killed by US bombs,” Magnay said.

Prime Minister Benjamin Netanyahu was also depicted as a vampire in an image behind the dead hostages.

Sombre moment for Israelis – as Hamas uses opportunity for propaganda


diana magnay headshot

Diana Magnay

International correspondent

@DiMagnaySky

The return of the bodies of four Israeli hostages is a “sombre moment” for everybody in Israel and Jews across the world, our international correspondent Diana Magnay says.

She says the two young boys, Ariel and Kfir, “really became a symbol of the tremendous suffering 7 October caused”.

“Now, to have them returned back in this way is tragic.”

Referring to the scenes of coffins being transferred to the Red Cross, Magnay says Hamas has chosen to use this “as a propaganda opportunity”.

“They have missiles on the stage where the four coffins were, saying they were killed by US bombs,” she explains.

She says Hamas’s main message is “this was caused by you, you should take responsibility for it”.

She adds that 7 October was caused by Hamas, and has brought “untold suffering to both Israel and Palestinians”.

Israel’s heart ‘in tatters’

At the family’s request, the Israeli military held a small funeral before the bodies were taken to a Tel Aviv laboratory for DNA tests to verify their identity.

Mr Netanyahu said it would be “a very difficult day for the state of Israel”, while President Isaac Herzog said “the hearts of an entire nation lie in tatters” and asked for “forgiveness for not protecting you”.

A Hamas militant stands on stage near coffins during the handover of deceased hostages Oded Lifschitz, Shiri Bibas and her two children Kfir and Ariel Bibas, seized during the deadly October 7, 2023 attack, to the Red Cross, as part of a ceasefire and hostages-prisoners swap deal between Hamas and Israel, in Khan Younis in the southern Gaza Strip, February 20, 2025. REUTERS/Ramadan Abed
Image:
The coffins were displayed on a stage. Pic: Reuters

Pic: IDF
Image:
The Israeli military later received the four bodies. Pic: IDF

The Israeli Defence Forces (IDF) posted on X saying it could confirm that Mr Lifshitz was “murdered… in captivity by Islamic Jihad”.

It added: “We send our deepest condolences to his wife, Yocheved, and to the rest of his family.”

Israel previously said it was extremely concerned about the condition of Shiri, Ariel, and Kfir but had never confirmed their deaths.

All four of the Israelis were abducted at Kibbutz Nir Oz, one of a number of communities overrun by Hamas on the day of the surprise attack.

Video showed Shiri Bibas appearing terrified as she cradled her boys while they were taken into Gaza.

Released Israeli hostage Yarden Bibas embraces loved ones. Pic: Reuters
Image:
The boys’ father Yarden Bibas was released earlier this month. Pic: Reuters

The family said this week their “journey is not over” until they receive confirmation of what happened to Shiri and the boys.

Meanwhile, six living hostages, the final due to be freed under the first phase of the Gaza truce deal, will also be released on Saturday, according to Hamas.

Israelis who survived being held prisoner in Gaza have been released in small groups since the first six-week phase began last month.

Three more – Alexander Troufanov, Sagui Dekel Chen and Iair Horn – were freed last weekend. The swap included 369 Palestinians, the most released so far.

The deal has provided a vital pause in the fighting that’s devastated Gaza and left tens of thousands dead.

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Israeli hostage hugs wife

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Israel said negotiations on the second phase of the deal and an extension to the ceasefire would start this week.

Foreign minister Gideon Saar said it would involve the remaining hostages being exchanged for more Palestinian prisoners.

At least 1,200 people were killed in the attack that started the war.

Since then, the Hamas-run Gaza health ministry says more than 48,000 Palestinians have been killed in Israeli attacks. Its figures do not differentiate between civilians and fighters.

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Ancient 2,000-Year-Old Sword Found in Poland Linked to Vandal Warrior Burial

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February 20, 2025

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Ancient 2,000-Year-Old Sword Found in Poland Linked to Vandal Warrior Burial

A metal detector search for World War II relics in a forested area of Poland has led to the discovery of a much older artifact—a broken sword believed to be nearly 2,000 years old. Found in the Jura region of southern Poland, the sword was intentionally shattered into three pieces and is thought to have belonged to a Germanic warrior from the Vandal tribes. The object is undergoing further examination to determine its exact historical significance.

Weapon Identified as a Double-Edged Spatha

As reported by Live Science, according to research conducted at the Częstochowa Museum, the unearthed sword has been identified as a spatha, a double-edged broadsword commonly used by mounted Germanic warriors during the Roman Empire. This style of weapon was widely employed from the third century BCE to the fifth century CE. Southern Poland, where the artifact was found, was home to the Przeworsk culture during this period, which included the Vandals.

Evidence of Ritualistic Weapon Destruction

In a statement to Live Science, Mariusz Włudarz, President of the Inventum Association, explained that the sword had been deliberately broken as part of a funeral ritual. As per reports, the warrior’s weapon was shattered and placed on a cremation pyre, a practice commonly observed in Przeworsk culture. Historical records indicate that damaged weapons, including bent swords and altered shields, were often buried with fallen warriors, a tradition possibly inherited from Celtic customs.

Ongoing Research and Preservation Efforts

Investigations are currently being carried out at the Częstochowa Museum to analyse the composition and history of the sword. The precise location of the discovery is being kept confidential while further searches in the area are conducted. Once initial research is completed, the artifact is expected to undergo conservation work before being placed on display at the Mokra Museum.

The discovery adds to existing archaeological evidence of burial traditions associated with Germanic tribes and may provide further insights into Vandal funerary customs and their interactions with the Roman Empire.

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Scientists Detect Rising Microplastics in Human Brains, Study Raises Concerns

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February 20, 2025

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Scientists Detect Rising Microplastics in Human Brains, Study Raises Concerns

A rise in microplastic contamination in human brain tissue has been reported, with findings indicating an increase over recent years. Concerns about potential health impacts have been raised, as microplastics and nanoplastics have been detected in significant amounts. Research suggests that individuals with dementia had even higher concentrations, though the causation remains unclear. While the presence of these particles has been established, debates around research methodology and the accuracy of findings continue within the scientific community.

Study Highlights Rising Microplastic Levels

According to a study published in Nature Medicine on February 3, the concentration of microplastics in human brain tissue has risen by approximately 50 percent between 2016 and 2024. Researchers found that in those who had died with dementia, microplastic levels were nearly six times higher than in individuals without the condition. Comparisons with samples dating from 1997 to 2013 showed a continuous rise in microplastic accumulation over time.

The study examined brain, liver, and kidney tissue from 28 people who died in 2016 and 24 individuals from 2024. The highest concentrations were found in brain tissue, with microplastic levels ranging from seven to 30 times greater than in the kidney and liver. The presence of polyethylene, commonly used in food packaging, was most notable, accounting for 75 percent of the detected plastics.

Potential Impact on Brain Health

In an email to Live Science, study co-author Matthew Campen, a toxicologist at the University of New Mexico, stated that the accumulation of microplastics could potentially disrupt blood flow in brain capillaries or interfere with neural connections. While concerns about links to dementia exist, no direct causation has been established.

Concerns Over Research Methods

Skepticism regarding the study’s methodology has been expressed by some scientists. Speaking to Live Science, Oliver Jones, a professor of chemistry at RMIT University in Melbourne, questioned whether the results were biologically plausible. He pointed out that the main analytical method used, pyrolysis-gas chromatography-mass spectrometry, might have led to overestimated plastic concentrations due to interference from brain fats.

Despite these concerns, toxicologist Emma Kasteel from Utrecht University, in a statement to Live Science, stated that while the exact levels may be uncertain, the confirmed presence of microplastics in the brain warrants further investigation.

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