Buyers beef up inventories in Tupelo
By Larry Thomas -- Furniture Today, February 29, 2004
TUPELO, Miss. — The optimistic tenor that has permeated this year's industry gatherings continued at the winter market here, as promotion-hungry buyers beefed up inventories in anticipation of improving spring and summer business.
Except for some upholstery producers whose factories have been running overtime in recent weeks, no one was ready to declare an end to the industry's long-running slump. However, few complaints about soft business were heard in the halls of the 1.5-million-square-foot exhibition complexes in the heart of Mississippi's furniture-making district.
"I would say that business has gone from soft to modestly good," said Dan Ide, national sales manager at Relax-R, a producer of glider rockers and reclining chairs. "We had a very good December and January."
Ide and numerous other exhibitors said order-writing at the Tupelo market was brisk. Many retailers were eager to restock with items and collections that could boost store traffic and inventory turns.
"A lot of people were looking for hot deals and summer specials, and we had some sharp price points to attract those buyers," said Greg Roy, vice president for upholstery merchandising at Lane. He said attendance was up at Lane's showroom, which is next to a Lane upholstery plant about five miles from the two principal Tupelo showroom complexes.
"In general, I think the mood of the buyers was upbeat," he said.
Vandy Baker, vice president of merchandising at PeopLoungers, agreed, noting that buyers from both large and small stores expressed optimism about spring and summer business.
"Our business has been strong in every category," said Baker, whose company makes stationary and motion upholstery. "(Our factory) has worked just about every Saturday since September."
Harry Smith, president of upholstery producer Smith Furniture, said business "started slow, but has gotten brisk" during the last few months, largely as consumers spend their tax refund checks.
"The key is if it sustains itself," Smith said, alluding to several previous business rebounds that quickly faded.
Eddie Proctor, vice president of sales and marketing at Holland House, said several dealers told him business was especially strong during Presidents' Day weekend, a good sign of things to come.
"We were very, very pleased with market," said Proctor, whose company imports case goods and glider rockers. "People were definitely here looking for product."
Exhibitors said Tupelo retains its strong following among Southeastern retailers, but that a number of Top 100 buyers from outside the region also were here.
The High Point-like rush to visit showrooms before the market's official opening seems to have taken hold here. Many showrooms saw as many buyers on Wednesday as they did on the official opening day of Thursday, Feb. 19.
Traffic had tapered off noticeably by Saturday. The market ran through Sunday, Feb. 22.
"Some retailers always want to get a head start," said Ray Crocker, president of case goods and bedding producer Fraenkel.
Case goods exhibitors said bedroom groups remained popular at market, despite concerns about duties that could be added because of the U.S. government's antidumping investigation of Chinese factories where they are produced.
Upholstery producers, meanwhile, said sectionals continued to show strength, and buyers at market were especially interested in models with faux suede (microfiber) and leather/vinyl covers.
Ashley's upholstery division, for example, did well with a motion sectional with a microfiber cover that will retail for about $1,299. Dealers liked the fact that it was available with either two reclining seats or one reclining seat and a sofa-sleeper, said Kerry Lebensburger, division president.
Klaussner, on the other hand, scored with a two-seat reclining sofa retailing for $1,499 in fabric and $1,999 in leather/vinyl.
Another item that appeared to do well at market was glider rockers, which were popular as cash-and-carry items that can be promoted from $199 to $499.
"The category is becoming more important to our dealers than it was two years ago," said Brian Woolley, vice president of sales at Towne Square.
Senior Editor Gary Evans and Editor in Chief Ray Allegrezza also contributed to this article.
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