I cannot, for the life of me, ever remember a furniture store doing "additional" percentages off on clearance. Usually it is a straight mark, with prices reflected on the ticket.
One thing that has always worked for the home market, is really working against it right now. That thing is long leads on delivery. When you ordered a sofa and it took 3 months to deliver that gave the furniture store plenty of time to resource and negotiate, thus ensuring maximum profitability.
They are now faced with inventory showing up that was ordered in May, June, July, August and even early-September. This has caused a glut in inventory, leading to high storage fees and forced reductions on goods to get them out the door.
If you go 3 posts back on this blog you will see I predict very bad things for all things home, save the cookware category.
The main problem retailers are having now seems to be an enlightened consumer. Everyone knows prices are going to go down further. So those few people with money (and there are only a few) are sitting on their hands until after the new year to see where the pricing game goes.