Epperson: Fall will bring some sales improvement
By Clint Engel -- Furniture Today, September 28, 2009
MYRTLE BEACH — This fall, the furniture industry will finally see some improvement its sales numbers, Jerry Epperson told attendees of the Furniture Manufacturers Credit Assn. annual meeting here.
But don't get too excited, the managing director of Mann, Armistead & Epperson warned. It doesn't mean business is any better. It's just that after months of weak sales, furniture companies are finally cycling against year-over-year numbers that are easy to beat.
Epperson noted that home sales were weak in most of the country this summer, and since the furniture industry is tied to housing, it's “not getting that usual kick we get in the second half of the year.”
But he also cited some positive signs. Mortgage rates have been dropping and consumer credit seems to be loosening a bit. And while he's looking for consumer purchases of furniture and bedding to decline 18% this year, Epperson said they're expected to recover 3% to 5% next year.
After business sessions at the annual meeting, FMCA Executive Director Jim Bumgarner noted that the organization gave back more than $100,000 to its members this year, due to its success in collections activities and retailer reporting services for members.
“In this economy, it is vital to be a member of FMCA in order to have our experience, knowledge and clout working for you,” Bumgarner said, noting that the association serves not just furniture suppliers, but bedding and accessories manufacturers and distributors.
At an awards ceremony, Ferguson Copeland Credit Manager Norma Yount was honored with the R.K. Rudicil II Award for Excellence, one of FMCA's highest honors, for her longtime service.
Donna Miller of La-Z-Boy High Point received the Credit Manager of the Year award for the central North Carolina region. Angela Collins of Berkline won the Steve Osborne Credit Manager of the Year honor for the western region.
This year's Heritage Award — in honor of Henry Wallace Taylor — recognizing member companies for their support of FMCA went to Bernhardt, C.R. Laine, Ferguson Copeland, Home Meridian International, Joseph Dean, La-Z-Boy High Point, Legacy Classic, Lexington Home Brands, Sealy and Stanley.
Elected to the FMCA board were Rick Clanton, C.R. Laine, president; Dean Berrier, Sealy, vice president; Angela Collins, Berkline, secretary; and Ron Teglas, Lexington, treasurer. Dave Carpenter of La-Z-Boy High Point, who just finished his record third term as FMCA president, and Yount were named directors.
FMCA will hold its next annual meeting Sept. 15-17, 2010, in Chicago. For more information on FMCA, contact Bumgarner at (336) 889-2877.
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