Villawood. Furniture sales down

Furniture retailer, Fantastic Holdings, at Villawood, reported its net profit for the full year to June would now be in the range of $19 million to $21 million, against $18.6 million in 2009. 'The Fantastic Furniture brand, particularly, as a mortgage-belt retailer, is susceptible to early changes in consumer spending patterns. We believe this fall in purchase decisions is a direct consequence of continuing interest rate increases,” the company said. The company operates over 110 stores across five furniture retail chains.