Premarket offers hope to furniture manufacturers
Steady early traffic at High Point event
Tom Russell -- Furniture Today, March 24, 2009
HIGH POINT — Exhibitors showing at premarket here Monday reported steady traffic on the opening day of the two-day event, a sign they believe points to pockets of strength and opportunity in the struggling furniture retail sector.
Phil Garrett, national sales manager of Hooker Furniture, said the company was expecting some 35 accounts over the two days.
"Compared to the fall, it seems like there is a steadier flow of customers," he said, adding that many buyers were from the East Coast and the Midwest. "They are here because they are serious about their business and are looking for ways to enhance their business."
He said that Hooker shares that philosophy and is taking an aggressive approach with new product this market. In addition to a new 70-piece island-influenced collection called Malaya, it is launching a new division called Envision that is geared toward younger consumers and offers mostly transitional bedroom, casual dining and occasional furniture.
"I am hearing that (retail) inventory levels are coming down and am a little hopeful there is some open to buy and that their cash flow is improving where they can do that," Garrett said.
Magnussen President and CEO Richard Magnussen said he was pleased with the retailers he saw early on opening day.
"We are very happy because they are significant players," he said. "At the pace we are seeing them now, we will see 40 dealers."
Like Hooker, Magnussen plans an aggressive product launch in April with 20 new bedrooms. Six of those are on display in the showroom this week, and the company is showing photos of the other 14 groups - some of which dealers have seen the past few weeks while visiting the company's sourcing operations in Vietnam.
Kincaid Furniture President Steve Kincaid said he expects around 35 accounts over the two days. A number of those have already made commitments on new groups the company is showing here this week.
"We've been pretty pleased ...we've had good reaction on product," he said, noting that the company warehouses both imported and domestic goods domestically, a factor that helps dealers buy in smaller quantities. "The fact that people can buy pieces one at a time is a real benefit."
Universal has seen a positive reaction to Paula Deen Home, a new 50-piece collection of bedroom, dining room, home entertainment, home office and accent furniture inspired by the casual lifestyle of celebrity cook Paula Deen.
"I am extremely pleased with how this is being received," said Jeff Scheffer, president and CEO, adding that dealers already are making commitments on the line. "It's understandable - this is casual furniture. This kind of styling at these kinds of price points will be a pretty good combination."
While he said no one can predict when the economy will turn around, Scheffer believes retailers are still in the market for quality goods.
"For really good product, there is open to buy," he said.
Case goods importer Intercon was expecting to see a dozen accounts over the two days. David Schreibfeder, an Intercon sales representative who works with accounts in Virginia, Maryland, Delaware, West Virginia and the District of Columbia, said that while times are tough, he has talked with dealers who have just had their best January and February sales months ever.
That encourages him heading into the spring market.
"I feel pretty optimistic about the spring here," he said. "I think everybody is looking for something positive.... We've been through tough times and will get through this one."
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