Shares of Flexsteel Industries gained after the furniture manufacturer guided for sales growth to accelerate in the current quarter, even as consumer demand for furniture remains under pressure.

The stock rose 10% to $78.01 in late trading on Monday. Shares were up 79% year to date at market close.

Flexsteel expects fiscal first-quarter sales to grow 1% to 4% from a year ago, accelerating from a 0.7% year-over-year uptick in the fourth quarter.

Chief Executive Derek Schmidt said the latest quarterly results mark 11 consecutive quarters of year-over-year growth despite increasingly difficult conditions across the industry, as demand for furniture remains under pressure from weak consumer confidence, affordability constraints and economic uncertainty related to the conflict in the Middle East.

"Even consumers shopping at higher price points have become increasingly value-conscious in today's environment," Schmidt said.

The company's key growth initiatives continue to perform well, he said, pointing to Flexsteel's health and wellness category and recent product introductions.

"Looking ahead, we remain measured in our outlook as macroeconomic uncertainty, elevated inflation, rising energy costs, and trade policy uncertainty continue to pressure industry demand and profitability," Schmidt said.

Flexsteel's fourth-quarter profit came in at $12.7 million, or $2.58 a share, compared with $10.7 million, or $1.89 a share, a year earlier.

Adjusted earnings per share were $1.33.

Sales ticked up to $115.4 million, driven by higher unit volume from soft seating products, partially offset by decreases in ready-to-assemble products sold under the company's homestyles brand.