Media putting spotlight on industry
By Carole Sloan -- Furniture Today, April 7, 2002
All of a sudden, it seems that furnitureland is front and center on the radar screens of America's media.
Over the past couple of months, newspapers from The Wall Street Journal to The New York Times to The New York Post have featured pieces on the business of furniture. And these weren't simply stories on the new products or home furnishings trends that typically appear on the lifestyle pages of major newspapers.
We're all aware of the flap that was created by an NBC-TV "Today" show segment last month concerning discount furniture pricing and shopping. Furniture/Today continues to follow the fallout from that dustup.
We've also seen business stories on beds, features on recliners — yes, recliners — casual furniture and even a profile on Rooms To Go.
And just when things appeared to be turning in the industry's favor, both in terms of actual business and consumer confidence, The New York Times ran a business story last weekend asking, "Is the Best Already Past for Furniture Markets?"
Granted, the piece did point out the current recovery and the pent-up demand. And the newspaper cited three public companies in the article, pointing out that they outperformed the market last year. But the underlying thesis was that this recovery will be short-lived, stymied by expected interest rate hikes.
But the clincher was a comment from a furniture industry analyst who was quoted as saying, "This is a lousy industry period."
Some of the article's critical comments are valid, and many of the statements were positive. We all know there's much that can be improved. But to wipe out an entire industry with a blanket statement like that of the analyst, without facts and arguments to back it up, is reprehensible.
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