Business
Furniture retailers face existential threat

President Donald Trump’s so-called “reciprocal tariffs” could be struck down by the U.S. Supreme Court as soon as this week. Regardless of the ruling, there’s little comfort to be found for the furniture industry.
Furniture importers are facing steep, and in some cases stacking, import duties after the industry was hit with higher tariffs on items such as couches, kitchen cabinets and vanities last fall under section 232 of the Trade Expansion Act.
While Trump’s country-specific “liberation day” tariffs imposed under the International Emergency Economic Powers Act and announced in April are under review by the nation’s highest court, the duties specific to furniture importers, of around 25%, are not.
Compounding the issue is a constant thread of uncertainty plaguing the industry, said Peter Theran, CEO of the Home Furnishings Association, the trade group representing furniture retailers.
The 25% duty on certain furniture imports was supposed to rise to 50% in January, but at the end of December, that plan was pushed back to 2027. Its also become common over the past year for Trump to threaten new tariffs on various imports that never end up getting enacted.
“This is a very, very difficult time to manage your business,” said Theran. “The No. 1 driver of the difficulty of managing your business is unpredictability and an inability to make alternative plans and invest in those plans, because you don’t know what tomorrow will be.”
Rising distress
Tariffs and the uncertainty they’ve brought are the latest blow to the furniture industry, which has been struggling for the past four years and was under pressure well before Trump’s trade war.
During the Covid-19 pandemic, when people were stuck at home and flush with cash, many Americans took the opportunity to refresh their spaces and buy new furniture and decor. Then, low interest rates brought a surge in demand for new homes, which served as a catalyst for furniture buying.
The result was outsized growth across the home goods industry and boom times for furniture.
But as inflation and interest rates began to creep up in 2022, the sector started to sputter, and it later declined for the first time in at least seven years, according to data from Euromonitor.
By the time tariffs came around, home sales had slowed and some furniture companies were already struggling to keep operations afloat and couldn’t manage the sudden increase in fixed costs.
American Signature Furniture, the parent company behind Value City Furniture, declared bankruptcy late last year after nearly 80 years in business. It began liquidation sales at its 89 remaining stores last month.
In a court filing, the company said the aftermath of the Covid pandemic, subsequent shifts in consumer spending and rising costs led to a 27% decline in sales between 2023 and 2025. Net operating losses ballooned from $18 million to $70 million during the same time period, it said.
By the end of 2024, the company was facing “significant liquidity constraints,” which were then “further exacerbated and accelerated by the introduction of new tariff policies,” the company said in the filing.
Over the last year, at least 10 other furniture businesses have declared bankruptcy, with some liquidating and ceasing operations altogether, according to a CNBC review of federal bankruptcy filings.
Most of the companies are smaller businesses, which have been hit harder by tariffs because they have fewer resources than their larger competitors.
“The smaller players are definitely the ones that will be the hardest hit because they don’t necessarily have deep pockets, they don’t have the economies of scale, they don’t have the huge sourcing teams that can suddenly look to pivot the destination or the origin of the products,” said Neil Saunders, retail analyst and managing director at GlobalData. “So they are under a lot of pressure, and we probably will see more failures in that independent space.”
Joseph Cozza, whose small furniture business East Coast Innovators supplies retailers such as Macy’s and Raymour & Flanigan, told CNBC he was forced to raise prices between 15% and 18% to offset higher tariff costs, leading to a slide in demand over the holidays.
For now, Cozza said he can keep his business running but is hoping for an interest rate cut, a jolt to the housing market and larger-than-expected tax returns to spur sales.
“I’m praying for that,” he said.
If not, he might have to move his business from Philadelphia to North Carolina, where operating costs are lower, he said.
“I have a nice company with nice employees, and I pay them all a really good wage, and I’m being penalized,” said Cozza. “I’m being penalized for what I do, and I just don’t think that’s fair.”
Market share grab
The advent of tariffs has created a market grab opportunity for larger businesses, which are better equipped than smaller businesses to weather policy changes and keep prices lower.
Over the last year, some large and publicly traded furniture companies have actually been growing profits and sales despite higher costs from tariffs.
During Ikea’s fiscal 2025, it was able to keep prices relatively steady and revenue about flat compared with 2024, it said in a news release. It did report higher operating expenses but attributed the increase to an acquisition it made in the Baltics, not tariffs.
RH, Williams-Sonoma and Wayfair have all grown sales and margins even as they faced higher import costs.
In the nine months ended Nov. 1, RH saw sales grow almost 10% as margins expanded. At Williams-Sonoma, sales grew about 4% in the 39 weeks ended Nov. 2 while operating margins grew slightly. Wayfair, which reported fourth-quarter results on Thursday, saw revenue grow 5.1% in fiscal 2025 as gross margin stayed steady and operating expenses fell.
Wall Street has yet to see the full impact of furniture-specific tariffs on these companies because most of them last reported results right around the time the tariffs were enacted.
But they already faced a wide array of duties throughout 2025. Most U.S. furniture imports come from China and from Vietnam and other parts of southeast Asia, which have seen a range of higher tariffs before furniture-specific levies were introduced. At one point, imports from China were tariffed as high as 145%, while Vietnam faced tariffs of around 20%.
Most of those country-specific duties have come under review by the Supreme Court. At the heart of the case is whether Trump had the legal authority to impose what he calls reciprocal tariffs, which critics say infringes on the power of Congress to tax.
Any ruling the court makes is poised to bring even more uncertainty to the industry.
If the justices rule against the duties, there will be questions over how they will be refunded and whether the administration will come up with new ways to implement tariffs. If the justices rule in Trump’s favor, there will be questions over whether tariffs could get even higher.
“A CEO of one of the largest furniture retailers in the country said to me, ‘Even if tariff strategy ended up with the worst possible outcome for my business, I would then create a plan, invest in that plan, execute under that plan and create the best outcome that’s available,’” said Theran of the Home Furnishings Association.
“No one can do that,” he said. “No one can invest in a plan now, because the tariff strategy has not stabilized. It keeps changing, and the looming Supreme Court decision almost certainly will cause change after that decision is rendered.”
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T-Mobile Offers Free Samsung Galaxy S26 Ultra with No Trade-In Required on Premium Plans
T-Mobile is making the Samsung Galaxy S26 Ultra available at no upfront cost to customers who add a new line on its top-tier Experience Beyond plan, waiving the usual trade-in requirement in a promotion that launched with the device’s March 11, 2026, release and remains active as of March 14.

The offer provides up to $1,300 in bill credits over 24 months for the 256GB model, which carries a full retail price of $1,299.99. Customers must commit to the Experience Beyond plan — T-Mobile’s highest unlimited tier, typically priced over $100 per month for a single line with AutoPay — and pay taxes on the device’s value plus a one-time $35 device connection fee. The 512GB variant qualifies for the same credits but incurs an additional $8.33 monthly fee to cover the storage upgrade.
T-Mobile announced the promotion February 25, 2026, alongside Samsung’s Galaxy Unpacked event, positioning it as one of the carrier’s strongest Android incentives of the year. Pre-orders began that day, with in-store availability starting March 11. The deal extends to existing customers adding a line and does not require porting from another carrier or trading in an old device — a notable departure from most flagship promotions that demand eligible trade-ins.
Similar “on us” offers apply to the rest of the S26 lineup. The Galaxy S26+ receives up to $1,100 in credits on the same plan or lower-tier options like Experience More or Go5G Plus, while the base Galaxy S26 qualifies for up to $900 off with a new line on various unlimited plans. Bundling with T-Mobile 5G Home Internet can add extra perks, including up to $300 via virtual prepaid card or a $350 Samsung eCertificate.
The Galaxy S26 Ultra features Samsung’s latest advancements, including a 200MP main camera with enhanced Nightography for low-light performance, 100x AI-powered zoom, a built-in S Pen, a 5,000mAh battery, and expanded Galaxy AI tools for productivity and creativity. It also introduces a “Privacy Display” mode and improved processing power that reviewers say surpasses Apple’s latest chips in certain benchmarks.
T-Mobile’s push aligns with its strategy to grow Android market share amid intense competition from Verizon and AT&T. The carrier has aggressively marketed no-trade-in deals in recent years, betting that premium plan adoption offsets device subsidies through higher monthly revenue and longer customer retention.
To qualify, customers must maintain service and the line for the full 24-month period; early cancellation triggers repayment of remaining credits. The promotion is limited-time and subject to credit approval, with availability varying by location and stock.
Analysts view the offer as compelling for heavy data users or those seeking the latest flagship without upfront costs. However, the high plan price means total spend over two years often exceeds the device’s value, making it most attractive for those already planning to upgrade service or add lines.
The Galaxy S26 series has drawn strong early interest since its February 25 announcement, with Samsung emphasizing AI integration and camera upgrades. T-Mobile’s promotion, still live as of mid-March, provides one of the clearest paths to acquiring the Ultra model without trading in an existing phone.
Customers interested in the deal can check eligibility and apply online at T-Mobile’s website or visit stores. Availability of in-store stock and promotional terms may vary.
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Business
VEON Ltd. (VEON) Stock Jumps 14% to $50.60 on March 13 After Strong Q4 Earnings and Optimistic 2026 Guidance
VEON Ltd. (NASDAQ: VEON) shares surged 14.20% to close at $50.60 on March 13, 2026, up $6.29 from the previous close of $44.31, as investors reacted positively to the company’s fourth-quarter and full-year 2025 earnings report released the same day.
The Amsterdam-based global digital operator, which provides telecom and digital services in emerging markets including Pakistan (Jazz), Ukraine (Kyivstar), Bangladesh (Banglalink) and Kazakhstan (Beeline), reported robust growth driven by digital revenues. Q4 2025 revenue rose 17% year-over-year to approximately $1 billion (exact figures from the release), with EBITDA climbing 29%. Digital revenues grew 84% to represent 20.1% of total revenue, marking a record contribution and highlighting success in fintech, entertainment and other non-core telecom offerings.

Full-year 2025 results showed continued momentum despite challenges in conflict-affected markets like Ukraine and Pakistan. Revenue increased significantly, with adjusted EBITDA reflecting strong operational efficiency. The company completed its first $100 million share buyback program (repurchasing 2.14 million ADSs) and launched a second $100 million program in November 2025, repurchasing an additional 614,500 ADSs for $32.5 million plus some notes by early March 2026. VEON adopted a policy targeting at least $100 million in annual repurchases, with shares to be cancelled, signaling confidence in its valuation and cash generation.
For fiscal 2026, VEON guided revenue growth of 9% to 12% year-over-year and EBITDA growth of 7% to 10%, maintaining capex intensity at 14% to 16%. Management highlighted digital services as a key driver, with expectations for continued acceleration in fintech and value-added offerings.
The earnings release sparked buying interest, with volume reaching around 687,000 to 609,000 shares — well above average. The stock traded in a wide intraday range from $48.26 to $58.50, reflecting volatility but strong upside momentum. After-hours trading saw a slight pullback to around $49.71, down 1.76%.
VEON’s performance comes amid a strategic focus on emerging-market digital transformation. In Pakistan, subsidiary Jazz secured the largest spectrum allocation (190 MHz) in a March 2026 auction, bolstering network leadership. The company also expanded partnerships, including with MeetKai for sovereign AI exploration (announced March 3, 2026) and agreements like the TPL Insurance stake acquisition to grow digital financial services.
Analysts maintain a bullish stance. Consensus ratings lean toward “Strong Buy,” with an average 12-month price target around $73.25, implying more than 44% upside from the March 13 close. Some targets reach higher, reflecting optimism about digital revenue scaling and buyback support.
The stock’s 52-week range spans $34.55 to $64.00, with the March surge pushing it toward the upper end after a pullback earlier in the year. Market capitalization stands around $3.49 billion, with a trailing P/E of about 5.58 and forward P/E near 12.89, suggesting attractive valuation relative to growth prospects.
Challenges persist in operating environments, including geopolitical risks in Ukraine and regulatory pressures in Pakistan, but VEON’s diversified footprint and digital pivot have mitigated impacts. The company emphasized disciplined capital allocation and shareholder returns as priorities.
As VEON advances its digital operator strategy, the March 13 rally underscores investor confidence in its execution and outlook. The next earnings update is expected in May 2026, with ongoing buybacks and digital initiatives likely to remain focal points.
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Dow Jones Closes at 46,558.47 on March 13 Amid Ongoing Iran Conflict and Oil Price Surge
The Dow Jones Industrial Average ended lower on March 13, 2026, closing at 46,558.47 after shedding 119.38 points or 0.26%, as persistent geopolitical tensions from the U.S.-Iran war continued to push oil prices higher and weigh on investor sentiment.

The blue-chip index opened at 46,689.24, reached a high of 47,123.99 and dipped to a low of 46,494.63 during the session, according to data from Investing.com and Yahoo Finance. Volume totaled around 453 million shares, reflecting elevated trading activity amid volatility. The decline marked the Dow’s third consecutive weekly loss, with the index down nearly 2% for the week ending March 13 — its worst weekly performance in recent months.
The broader market mirrored the Dow’s retreat. The S&P 500 fell 40.43 points or 0.61% to 6,632.19, hitting a new low for 2026. The Nasdaq Composite dropped 206.62 points or 0.93% to 22,105.36. All three major indexes posted their third straight weekly decline, with the S&P 500 down 1.6% for the week and the Nasdaq off 1.3%.
Oil prices remained a dominant force, with crude climbing above $100 per barrel at points during the week as the conflict intensified. Reports of U.S. strikes on Iranian targets and Iran’s responses in the Strait of Hormuz fueled fears of supply disruptions, adding inflationary pressure and prompting a flight to safety. Energy-sensitive sectors felt the pinch, while defensive names offered limited offset.
The sell-off extended a broader reversal from earlier 2026 highs. The Dow peaked near 50,188 in February but has fallen more than 7% from that level, pressured by the war’s economic fallout, including higher energy costs and uncertainty over global growth. Technical analysts noted the index hovered near its 200-day moving average around 46,330, with a break below potentially signaling deeper declines.
Market breadth weakened, with only about 31% of S&P 500 components above their 50-day moving averages — near recent lows. The Dow’s relative underperformance in recent weeks contrasted with its earlier leadership in value and defensive rotation.
Geopolitical headlines dominated. Defense Secretary announcements of escalated U.S. actions against Iran reinforced concerns of prolonged disruption in energy markets. Investors reassessed rate expectations, with yields climbing despite soft economic data like Q4 GDP revisions.
Individual movers included pressure on tech and software names, though specific Dow components like Boeing and UnitedHealth showed relative resilience. Broader sector rotation into energy provided some cushion, but overall risk-off sentiment prevailed.
Looking ahead, markets eye Nvidia’s GTC event starting March 16, where CEO Jensen Huang’s keynote could offer AI and chip updates influencing sentiment. Micron earnings and ongoing oil developments also loom. Futures pointed to a cautious open Sunday evening, with Dow futures reflecting continued caution.
The week’s performance underscores fragility amid external shocks. While the Dow remains up about 12% from a year ago, the recent pullback highlights vulnerability to energy shocks and geopolitical risks. Analysts warn of potential for further selling if oil sustains above $100 or conflict escalates.
As trading resumes, focus remains on energy prices and any diplomatic developments that could ease supply fears. The Dow’s path will likely hinge on how markets digest these ongoing pressures.
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Neptune Insurance Holdings (NP) Stock Surges 20% to $21.87 Amid Strong Momentum in Insurtech Sector
Neptune Insurance Holdings Inc. (NYSE: NP) shares closed sharply higher at $21.87 on March 13, 2026, up $3.68 or 20.23% from the previous day’s close of $18.19, as trading volume spiked to around 925,000 shares — more than double the average daily volume.
The Florida-based insurtech firm, which went public in October 2025, saw its stock rally on March 13 after a period of consolidation, with intraday trading ranging from a low of $18.52 to a high of $21.93. After-hours activity added another $0.25, pushing the price to $22.12, up 1.14% further.

The surge came amid broader interest in property and casualty insurers focused on flood and catastrophe coverage, as climate-related risks drive demand for specialized products. Neptune, through its subsidiary Neptune Flood Incorporated, operates as a managing general agent offering primary flood insurance, excess flood, parametric earthquake and indemnity earthquake policies distributed via agency networks.
The company reported strong growth in its latest earnings on February 18, 2026, for the fourth quarter and full year ended December 31, 2025. Revenue rose 39% to $43.8 million in Q4, though net income fell 63% to $4.3 million due to $4.6 million in IPO-related expenses. Full-year revenue grew 34% to $159.6 million, with net income up 8% to $37.4 million despite $13.1 million in one-time costs. Written premiums increased 34% to $367.3 million, adjusted EBITDA climbed 32% to $95.0 million, and new business sales hit records.
Analysts have responded positively. BMO Capital upgraded NP to Outperform from Market Perform in mid-February 2026, citing growth potential in the flood insurance market. Consensus ratings lean toward Buy, with an average 12-month price target around $26.79 to $27.04, implying 22-30% upside from recent levels. Some targets reach $36.75, while others sit at $22.72, reflecting varied views on execution and market conditions.
Neptune’s focus on data-driven underwriting and digital distribution positions it well in a sector facing rising catastrophe losses from hurricanes, floods and earthquakes. Recent initiatives include a March 12, 2026, launch of a ChatGPT-integrated app for preliminary flood quotes, expanding accessibility, and a March 4 analysis from its research group on FEMA’s proposed 2026 Harris County, Texas, flood map updates, highlighting potential impacts on policyholders.
The stock debuted in October 2025 with a strong first day, jumping 12.5% and valuing the company near $3.1 billion. It traded in a 52-week range of $14.78 (hit February 12, 2026) to $33.23 (October 3, 2025), reflecting post-IPO volatility typical for insurtech names.
Market capitalization stood around $3.02 billion at the March 13 close, with about 138 million shares outstanding. The forward P/E remains attractive relative to growth prospects, though trailing metrics show losses in some periods due to expansion costs.
No major news triggered the March 13 move directly, but traders pointed to technical breakout above recent resistance near $19-20, renewed analyst coverage and sector rotation into financials. Options activity showed elevated call volume, indicating speculative interest.
Neptune continues to build partnerships, including a January 2026 capacity deal with Somers Syndicate at Lloyd’s for additional reinsurance support. The company guides for 2026 revenue of $186-189 million and adjusted EBITDA margins of 60-61%, signaling confidence in scaling operations.
As climate change intensifies flood and seismic risks, Neptune’s specialized offerings could capture more market share from traditional carriers. Investors watch for the next earnings update, expected around May 2026, for updates on premium growth, loss ratios and tech investments.
The sharp gain on March 13 underscores momentum for NP as an emerging player in a high-demand niche, though volatility persists in the young listing.
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The lesson for investors is simple: start investing as early as possible. Time allows investments to compound and grow exponentially. Small contributions made early can create significant wealth over decades, while delaying investments can make financial goals harder and more expensive to achieve.
In long-term investing, time is often more powerful than the amount invested. Starting early and staying invested consistently can make a meaningful difference in building financial security and long-term wealth
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