Tupelo activity brisk despite uncertainties
By Larry Thomas -- Furniture Today, February 24, 2003
Tupelo, Miss. — The Tupelo Furniture Market got off to a brisk start last week as buyers from the Southeast, Midwest and West converged on this northeast Mississippi furniture stronghold.
Parking lots were nearly full on Wednesday, the day before the market's official opening, and many exhibitors reported heavy traffic on both Wednesday and Thursday.
"We had our biggest dealer registration ever on Wednesday; we were up close to 20%," said Dick Yargus, vice president of sales and marketing at Largo, an importer of case goods, metal beds and casual dining furniture. "This was the first showing of our Jaclyn Smith line at Tupelo, and since many of our Tupelo dealers don't go to High Point, they were excited to see it."
Yargus and other exhibitors said most buyers remained upbeat, even though retail business has been spotty in recent weeks due to the sluggish economy, skyrocketing gasoline prices, a blizzard in the Northeast, and concerns about a possible war with Iraq.
"People had very positive attitudes ... and they were buying," said Kerry Lebensburger, president of the upholstery division at Ashley. "I was really surprised at the upbeat mood."
Don McCoy, vice president of marketing at upholstery producer Mayo Mfg., said the unsettled atmosphere "spooks retailers. They don't know what to expect. But once things are settled, it could prove robust."
Norm Joslyn, vice president of sales and marketing at case goods resource Master Design, said his company's sales were ahead of budget for January and are on budget for February. But that doesn't mean he's ready to declare victory over the furniture industry's recent slump.
"My sales force is telling me that it's tough at retail — and spotty," he said. "I think this reflects the fact that consumers, sensing we are headed for a conflict with Iraq, are jittery."
At market, exhibitors said retailers frequently inquired about closeouts, market specials and other promotionally priced goods that could drive business in the next few months.
"Right now, promotional is selling," said T. Chopper Russo, vice president of sales and marketing at Union City Imports. "It seems like price is the driver right now."
Product introductions were fewer in number, especially for upholstery producers, mainly because of the early start of the spring High Point market.
"All of our (merchandising) decisions have pretty much been made for this spring," said Vandy Baker, vice president of merchandising at upholstery resource PeopLoungers. "But our business has been good. It's hasn't slowed down."
Among the dignitaries on hand for the market's opening festivities were Tupelo Mayor Larry Otis and Mississippi Gov. Ronnie Musgrove. Musgrove presented the market's Buyer Appreciation Award to Keith Koenig, president of City Furniture in Pompano Beach, Fla.
Earlier in the day, Otis presented a key to the city of Tupelo to Michael Amini, president of Amini Innovation Corp., or AICO. His company, a longtime exhibitor, opened a new 11,000-square-foot showroom, more than double the size of its old space here.
Furniture/Today Editor-in-Chief Ray Allegrezza and Leather Editor Joan Gunin contributed to this story.
