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Furniture|Today -- 05/06/2002
Bedding Today
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Churchill won WWII from his twin bed
Call it The Bed That Saved the World. That's a pretty accurate description of a bed you've probably never seen, but whose occupant was one of the great figures of history. Winston Churchill's twin bed in the Cabinet War Rooms in London is one of the featured exhibits. Nowhere else in the fascinating warren of rooms does the presence of the great man himself loom so large.
Business Today
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Rent-A-Center profit up 87%
PLANO , Texas— Rent-to-own giant Rent-A-Center posted a 86.6% increase in first quarter net earnings over the same period a year ago, citing higher revenues, operational improvements and a renewed focus on cost controls. The company also raised its earnings guidance for this year and said it is ratcheting up expansion plans beginning next year.
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Aaron earns $5.9M despite costs
ATLANTA— On the strength of is rent-to-own division, Aaron Rents posted a first-quarter profit of $5.9 million on revenues of $156.7 million despite costs associated with opening a record number of stores last year. Net income was down 19.2% from $7.3 million for the same period a year ago as the most recent results were hurt by startup expenses related to opening 117 stores in 2001—...
Insider's View
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April market a winner for partnering, planning
What a difference a year makes. Just a year ago, business was on the decline almost everywhere you looked. Manufacturers were laying off people and closing factories, while retailers were winding down inventories, curtailing expansion plans and reducing costs on every level. Many factories were still reeling from the loss of Heilig-Meyers, Wards, HomeLife and others.
International
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Imports drop 1% in '01
HIGH POINT— Buffeted by a weak U.S. economy and the aftermath of Sept. 11, furniture imports shrank 1% last year, the first decline since the recession year of 1991, when imports also slipped 1%. Still, imports from China, easily the United States' most important furniture source country, managed a 13% increase, swelling to $4.
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Canada, Mexico pace 16% drop in exports
HIGH POINT— U.S. furniture manufacturers more than erased the significant growth in exports recorded in 2000 with a 16% slide in 2001. Total exports dropped to $1.6 billion last year from $1.9 billion in 2001. The nearly $2 billion total in 2000 represented a 13% surge over 1999, including gains in shipments to seven of the Top 10 destination countries.
News
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Krause's to shrink to 10
BREA, Calif. — Krause's Furniture's new owner will scale the chain back to 10 Southern California stores after falling short in an uphill battle to breathe new life into the long-struggling, vertically integrated sofa specialty retailer. The Hakakian Group, which acquired Krause's assets last fall, is closing stores in most of the markets it did manage to reopen.
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Buyer for Leather Center?
ADDISON, Texas— John Henson, a former Leather Center employee who now owns other leather stores, is making a play for assets of the furniture retailer-manufacturer in the wake of its Chapter 7 bankruptcy filing. Within days of closing its last 33 stores, Leather Center, the 20-year-old Carrollton, Texas-based custom order leather specialist, filed for bankruptcy in federal court in Fort W...
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Buffett rests easy with latest investment
OMAHA , Neb.— Legendary businessman Warren Buffett is lying down on the job to tout a bed that bears his name. In a rare move for the Oracle of Omaha, Buffett is personally endorsing the Warren bed, the flagship offering in the Berkshire Collection from Omaha Bedding Co. That is a reference to Berkshire Hathaway, the investment company Buffett heads.
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DuPont to cut 10% of workforce
WILMINGTON, Del. — DuPont Textiles & Interiors is cutting 2,000 employees or about 10% of its global workforce. DTI, a subsidiary of the DuPont chemical company, said the cuts will make the company leaner and more responsive in the marketplace and will save about $120 million annually. Most of the cuts will be in manufacturing facilities and offices in the United States, with most o...
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ShopKo honors Dawson Furniture
GREEN BAY, Wis. — Dawson Furniture, a division of Pulaski, has been named 2002 Vendor of the Year for indoor furniture by discount retailer ShopKo. Dawson and 30 other vendors will be honored at an Aug. 4 reception and dinner here, where ShopKo is based. "We are very pleased," said President Jim Dawson, who said his company, based in Webb City, Mo.
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Obituaries
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Serta, Decorize honored among Sears' top vendors
HOFFMAN ESTATES, Ill. — Sears has named bedding producer Serta and home décor provider Decorize as winners of its 2001 Partners in Progress awards. The two companies were the home furnishings winners among the 107 honored by Sears from among a field of more than 10,000 suppliers. "Our Partners in Progress award recipients have demonstrated the highest level of commitment, quality an...
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Bassett salutes Wimbs
BASSETT, Va. — Bassett Furniture Inds. recognized furniture industry sales veteran Hilton Wimbs for representing the company for 45 years. During a sales meeting at the April High Point market, Bassett chief executive officer Rob Spilman, along with his father, former CEO Bob Spilman, and former vice president of sales Joe Meadors, presented Wimbs with a lapel pin bearing four diamonds.
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Ethan Allen to close Vt. case goods plant
DANBURY, Conn. — Full-line manufacturer-retailer Ethan Allen will close its Randolph, Vt., case goods plant, and its Orleans, Vt., lumber operation. The moves should be completed in two months. "The consolidation is necessary to focus our manufacturing in the most suitable plants in the United States," said Farooq Kathwari, chairman and chief executive officer.
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Universal honors 4 reps
HIGH POINT — Universal Furniture International honored four of its sales representatives at an awards dinner during the April market. Top honors went to Andy Anderson, named salesman of the year. Anderson has represented Universal in Oklahoma, Kansas and western Missouri for 15 years. Awards of achievement were presented to the sales team of Denton Rogers and Ken Wood, representatives in...
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NC imports seminar set for May 15
GREENSBORO, N.C. — Industry consultant Lee Houston and Robert Edwards, retired director of North Carolina State University's Manufacturing Extension Partnership, will offer an executive-level seminar on competing with imported furniture. "How to Compete in Our World Economy" is set for May 15 from 8:30 a.
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Premarket a week early to avoid Yom Kippur clash
HIGH POINT — The fall premarket here is scheduled a week earlier than usual to avoid a conflict with the Yom Kippur holiday. Premarket will begin the week of Sept. 9 instead of Sept. 16. Premarket traditionally takes place a month earlier than the official fall market, this year scheduled for Oct.
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Martha flooring ready now, furniture in October
NEW YORK— Martha Stewart has officially launched her Signature Collection floor coverings program from licensee Shaw Inds. In October, Bernhardt will roll out her Signature furniture collection, which will be paired with a dedicated floor coverings program. The Stewart furniture collection "will be priced slightly below regular Bernhardt case goods, but will be the same price points as ou...
Opinion Today
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Pitching hopes, dreams in Never-Never Land
I never was a sports buff. In fact, I once went to a crucial Mets playoff game and my daughter's father-in-law — who headed a family of sports aficionados, including his wife — telephoned me and asked, indignantly: "What right does a schlemiel who knows nothing about sports have to be at a once-in-a-lifetime Mets moment?" I was really hurt and cried myself to sleep .
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Grading the new market transportation system
Is it really possible for someone to attend the High Point market and "leave your car keys at home," as the Market Authority's Web site urges buyers to do? If you're a buyer who doesn't want to visit showrooms before the official opening day and is willing to take a taxi to dinner in the evenings, the answer probably is yes.
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Microfiber: Could it self-destruct?
Besides being notable for a dramatic change in attitude, the April market also produced some emerging trends and concerns. After several markets of tiptoeing around the subject, the upholstery shown, especially at the upper middle to high end, indicates that prints finally have made a comeback. But before all of you out there in printland get too excited, remember it's a different world in furn...
People Today
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Concord, N.C., store honored as Badcock's best
LAKELAND, Fla— Associate dealer Fred Carpenter
of the Badcock Home Furnishings Center in Concord, N.C., accepted the President's Cup Award as the 340-unit Southeast chain's best overall store during the past six months, the first time the cup has had a repeat winner. W.S. Badcock President Don Marks and William K.
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Dealer meeting unveils new product
LAKELAND, Fla— W.S. Badcock held its Spring Dealer Advisory Meeting here to recognize achievements and unveil new merchandise for its dealers. The new lines were displayed in a showroom setting, with factory representatives on hand to familiarize dealers with product features and benefits. New product included furniture, appliances, accessories, floor coverings and electronics.
- People on the Move
People on the Move
Contactus Retailers,
manufacturers,
suppliers
and
trade associations
are invited to send releases and photographs for appointments, promotions and awards to: People/Today, P.O. Box 2754, High Point, N.C. 27261. Releases also can be faxed to (336) 605-1143. Please include a contact phone number.
Special Report
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The world of leather
HIGH POINT— Leather upholstery has become more of a global resource than we had ever imagined. We know all about the discovery of fire and the theory behind the chicken and the egg, but who made the first stationary upholstered leather sofa? A leather sofa preceded a fabric version, no doubt. But where was it made? Today, stationary leather produced for the U.
- Youth Report
Youth introductions key on familiar designs
HIGH POINT— Comfortable, familiar designs stole the show in the youth category at last month's International Home Furnishings Market with manufacturers playing it safe with the new products they introduced. Traditional Louis Philippe, Shaker, Victorian, cottage and Mission influences were seen across the market, and manufacturers said the category fared well with retailers looking for you...
Store Openings
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Bernie & Phyl's to expand unit
NASHUA, N.H.—Bernie & Phyl's Furniture
has broken ground on a three-floor, 86,000-square-foot superstore on the Daniel Webster Highway here. The project consists of two phases. Phase one, expected to be completed this fall, includes demolition of half the current 41,000-square-foot store and construction of 40,000 square feet of retail space on three floors.
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Family Furniture debuts 5th store
WALDORF, Md. — Fred Deutsch and Norman Gilden have opened another Family Furniture
store here on Crain Highway. The 20,000-square-foot store is the fifth unit in a chain of four full-line stores and one clearance outlet serving metro Washington and southern Maryland. Family Furniture, based in Landover, Md.
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Fisher opens Norwalk store
COLUMBIA, S.C. — New franchisee George Fisher has opened a 3,000-square-foot Norwalk — The Furniture Idea
store here. Laura Ellis is the store manager. Mark Schillaci, Norwalk's director of retail development, said the store is slightly smaller than the typical Norwalk unit, but that business has been good.
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French Heritage adds 8th shop
CANOGA PARK, Calif. — French furniture reproduction specialist French Heritage
has opened its eighth U.S. gallery in California Furniture Galleries
on Canoga Avenue here. Gerald Katz, president of California Furniture Galleries and son of co-founders Abraham and Regina Katz, has installed a 1,150-square-foot French Heritage shop.
Up Front
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Authority budget: $1.5M
HIGH POINT— The International Home Furnishings Market Authority has proposed a 2.8% increase in spending for the fiscal year beginning July 1, including a $32,000 hike in expenditures to promote the twice-a-year market. The draft budget proposes spending $885,000 — or nearly 60% of the total budget — on parking and transportation.
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Landlord acquires The Home Co. assets, plans to revive business
DALLAS— The landlord for The Home Co. — Fine Furniture Direct's Atlanta store has acquired most of the retailer's assets for $4.9 million and, according to a consultant to the buyer, plans to revive the business. Fine Furniture Holdings LLC, a subsidiary of The Mills Corp. of Alexandria, Va.
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BenchCraft restructures management
BLUE MOUNTAIN, Miss.— Industry veterans Larry Milan and Dave Simpson have joined upholstery producer BenchCraft as part of an executive restructuring in the wake of a management-led buyout of Berkline and BenchCraft from LifeStyle Furnishings International. Greg Henderson, who was BenchCraft's president, and Dwight Hardison, senior vice president of merchandising, have left the company.
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Not cars, not rugs: Sealy ads tout bedding
TRINITY , N.C.— Bedding major Sealy has launched a national television ad campaign that uses humor to emphasize that its products are "made for sleep." Two featured spots, created by the Mullen agency in Winston-Salem, N.C., show a fictitious world in which Sealy develops products beyond mattresses.
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Pulaski's Crawford to retire
PULASKI, Va.— Ira S. "Pete" Crawford, Pulaski Furniture senior vice president and a 30-year industry veteran, will retire May 31. He has been a Pulaski executive since the 1970s, spending much of his career as vice president of administration and corporate secretary. For the past year, he has managed special projects.
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ABC plans 2 stores, adds Silk Trading fabric gallery
New York— ABC Carpet & Home will open two stores this summer, and also has launched a decorative fabrics department via a leased arrangement with Los Angeles-based The Silk Trading Co. One of the stores will be a 45,000-square-foot warehouse store in Hackensack, N.J., scheduled to open in June.
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Candidate Dole makes market visit
HIGH POINT — Elizabeth Dole brought her U.S. Senate campaign to the International Home Furnishings Market as the April market was winding down. She told visitors in the Century showroom that she would work to ensure that North Carolina's furniture industry doesn't suffer the massive job losses that have plagued the state's textile industry.
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La-Z-Boy taps Pilgrim for Bauhaus
MONROE, Mich. — La-Z-Boy has named Steve Pilgrim president of Bauhaus, its Saltillo, Miss.-based upholstery division, and Luana Davis vice president of merchandising. Pilgrim has been vice president of sales and marketing at Sam Moore Furniture Inds., another La-Z-Boy company, since 1996. He started at Sam Moore nearly 20 years ago as a sales representative in Louisiana, Arkansas and Mis...
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City ruling might save San Fran Mart millions
SAN FRANCISCO— A recent ruling by the San Francisco Board of Appeals would save owner of the San Francisco Mart millions of dollars in development fees if the building were converted to office space, according to reports. But Mart officials say there are no plans for a conversion, and that the owners were just trying to clarify the Mart's status.
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Vaughan-Bassett plant switches to making parts
GALAX, Va.— Vaughan-Bassett said last week it will convert its Atkins, Va., facility from furniture production to parts production. The plant produces solid-wood bedroom furniture for the Virginia House division, said Doug Bassett, sales manager. As part of a plant to increase overall efficiency, the company is dropping some of those suites and transferring production of others to other ...
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Moyer to head Balta USA
DALTON, Ga. — Pat Moyer has been named president of the area rug division of Balta USA, a newly formed company that will distribute rugs, broadloom carpeting, and flooring made in Belgium and elsewhere in the United States. Moyer comes to Balta after 15 years with Mohawk, where he most recently was senior vice president of marketing for Mohawk Home, the rug and textiles division of Moha...
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Mettler CEO at Macy's West
SAN FRANCISCO— Robert Mettler has been promoted to chairman and chief executive officer of Macy's West, succeeding Jeremiah Sullivan, who is retiring. Mettler, 61, has been president and chief operating officer of the Federated Department Stores division since January 2000. Succeeding him is Michael Osborn, 54, who has been president of Federated's Miami-based division, Burdines.
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NHFA sets sales seminar
HIGH POINT— The seven deadly sins of sales management will be the topic of a National Home Furnishings Assn.-sponsored telephone seminar this month. John Egger of the Profitability Consulting Group will focus on sales volume and profitability and the sales management problems that can detract from them in a 90-minute program at May 22.
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