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Furniture|Today -- 06/03/2002
Bedding Today
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Bedding makers ponder where to show wares
"We need a place to show our products. The lack of visibility for bedding at furniture markets hurts the whole bedding industry." Those were comments a conventional bedding producer made to me the other day. He was lamenting the fact that traditional bedding producers have no market home, no place to showcase themselves and their new wares.
Business Today
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La-Z-Boy 4Q income jumps
Monroe, Mich.— La-Z-Boy reported a sharp jump in net income in its fourth quarter, but earnings for the fiscal year lagged behind the previous year. The nation's biggest furniture manufacturer said quarterly net income of $24.9 million, or 41 cents per share, was more than double that of last year's fourth quarter, when it earned $10.
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Hudson's Bay 1Q sales, revenue up 1.1%
Toronto — Retailer Hudson's Bay Co. said overall sales and revenues grew 1.1% to C$1.53 billion in its first quarter ended April 30. Operating income, excluding a gain on the transfer of receivables of C$2.3 million, was C$4.6 million compared to C$0.3 million in last year's quarter. Sales and revenue at HBC's department store chain The Bay, including Home Outfitters, was up 1.
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Publisher buys stake in Jennifer Convertibles
Woodbury, N.Y.— M. Shanken Communications, the publisher of Wine Spectator and Cigar Aficionado magazines, has purchased a 5.6% stake in leather and sofa-sleeper specialist Jennifer Convertibles. In a filing with the Securities and Exchange Commission, the publishing company said it purchased 322,000 shares of Jennifer for investment purposes, and said it is not seeking control of the Top...
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BMTC 1Q revenues surge
Montreal— BMTC Group, which operates 23 stores in Quebec under the Brault et Martineau and Ameublements Tanguay banners, said first-quarter revenues surged 41.1% to C$171.1 million from C$121.3 million in last year's first period. Net earnings for the three months were C$1.8 million, up 37.9% from C$1.
Insider's View
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Learning the lessons of LifeStyle's lifecycle
Folks are still talking about how quickly LifeStyle Furnishings International was disassembled. A huge company was divided among six or seven new owners in less than a year. It doesn't seem like 16 years have passed since Masco acquired Henredon, its first furniture company. Few know the whole story.
News
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L&P joins FurnitureFan Web site
Sudbury, Mass.— To make information about its products more accessible to consumers, Leggett & Platt has signed on to FurnitureFan.com. Joining FurnitureFan's online community of furniture makers and retailers are Leggett's consumer products unit, consisting of four divisions: Steel Products (Harris Hub, Duro Metal, Harvard Bed Frame, Oxford Bed Frame and Beauty Glide), Ornamental Bed...
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Gutzler's helps sponsor charity golf tourney
Hoyleton, Ill.— Gutzler's Furniture of Nashville, Ill., was among the sponsors of the Hoyleton Children's Home 2002 Golf Classic at the Governor's Run Golf Course in Carlyle, Ill. Proceeds went to the Hoyleton Children's Home program, including recreational therapy, socialized classroom instruction and life skills.
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Mass. store will ride for cancer research
New Bedford, Mass.— A furniture store family here will temporarily trade in the sales floor for the open road as they bike to raise money for cancer research. Debra Holden, president of Regal House Furniture in Bedford, Mass., along with her husband, Bruce Holden, and Riverside furniture representative Brian Fernandes are taking part in the Pan-Mass Challenge, a 194-mile, two-day ride Aug.
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Aktrin publishes five reports on industry
HIGH POINT — Five new furniture industry reports are now available from Aktrin, the international research and consulting firm. The Financial Health of the Canadian Furniture Industry deals with revenue, costs and profitability, compared with manufacturing in general. Included are ratios concerning debt and equity, liquidity and short-term capital as well as information on financing sources.
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Howard Miller CEO retires
Zeeland, Mich.— Jack H. Miller has retired as president and chief executive officer of clock and curio specialist Howard Miller Co. He leaves the family company in the hands of his brother Philip D. Miller, who will serve as chairman and CEO, and son Howard J. "Buzz" Miller, president and chief operating officer.
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N.C. salesperson wins grand prize
Albany, Ga.— Cotton Works Inds., Wolf Corp. and Lifestyle Solutions joined in a year-long contest to award a PT Cruiser. The contest was open to all salespeople selling the three companies' products. Monthly drawings were held, with winners entered in a drawing for the grand prize. Melanie Helmick of Fred's Beds in Raleigh, N.
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Unifi launches Hong Kong sales, marketing subsidiary
Greensboro, N.C.— Yarn producer Unifi has launched a sales and marketing subsidiary in Hong Kong to take advantage of growth opportunities in that part of the world. "Asia is a strategic area of focus for the company," said Mike Delaney, senior vice president, "and the central location of this new entity will enable us to drive sales of Unifi yarn throughout the entire region.
- Obituaries
Obituaries
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Dole takes 'day job' at Bernhardt
Lenoir, N.C.— Bernhardt Plants 11 and 6 here had an extra pair of hands on the job one day last month. As part of her campaign for the state's U.S. Senate seat, Elizabeth Dole worked alongside plant employees on the first shift. She learned the basics of upholstery, from receiving fabric through cutting, sewing and building on the bucks.
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Ekornes keeps sharp eye on quality issues
Alesund, Norway— As a group of U.S. retailers wrapped up a tour of Ekornes' robotics-filled factory here, they made a quick stop at the shipping and inspection area, where workers were checking Stressless chair parts before packing them in cartons bound for destinations all over the world. One worker's placid expression suddenly turned to a scowl as he rubbed his hand over a headrest that...
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FIDX to develop extensions as part of UCC standards
Charlotte, N.C— Members of the Furniture Industry Data Exchange have voted to conform to the standards of the Uniform Code Council in establishing electronic data exchange. The UCC, one of several organizations that sets standards, is closely allied with retail, which makes it compatible with home furnishings, said Mary Frye, FIDX chairman.
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IHFRA members lobby Congress
Washington— Members of the International Home Furnishings Representatives Assn. got updates on pending legislation as they lobbied and educated members of Congress during a trip here two weeks ago. IHFRA President Paula Shoemaker led the delegation, which included association members Linda Clayton, Harry Conn, Max Conn, Wilson Jeter and Tom Schuckert.
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Intercon relocates to larger space
Fife, Wash.— Wood furniture manufacturer Intercon has relocated its distribution center here to a larger space. The new 65,000-square-foot facility includes offices, a showroom and warehousing. Intercon made the move to accommodate an increase in sales, provide a more efficient work environment and give customers faster shipments.
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Storis user conference set for Sept.
Parsippany, N.J.— Storis Management Systems has scheduled its user's conference for Sept. 26-29, Thursday through Sunday, at the Sheraton Parsippany here. Entitled "Knowledge is Power," this year's conference has been revamped, focusing on client education. The keynote speaker is best-selling author Kevin Freiberg, who shows how retailers can apply "Southwest Airlines' Crazy Recipe for B...
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Burlington taps Smith
Monticello, Ark.— Shields Smith has been named vice president of marketing for Burlington Rug. He will be responsible for all licensing, marketing and advertising, according to Saied Korhani, chief executive officer of Yanoor Corp., the parent company of Burlington Rug. Before joining Burlington, Smith was managing director of Why Not Licensing, a brand management company.
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City of Hope fundraisers roll on
Greensboro, N.C.— The list of dinner reservations is growing for the National Home Furnishings Industry's Spirit of Life Gala, to be held during the October market to support the City of Hope medical center. John Klein and Norman Waxman, who will receive the prestigious 2002 Spirit of Life Award, recently toured the medical center in Los Angeles.
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Three San Fran market venues join forces
San Francisco— Three market venues here have joined for a unified production of the upcoming San Francisco Furniture Market, July 19-22. The San Francisco Mart and the San Francisco Design Center are teaming up to present the market at the 150-exhibitor Concourse venue, a move that should make it easier to work the show.
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Memorial Day sales flat
High Point— While business this year has been fair to strong for many furniture stores through May, most retailers surveyed last week hope Memorial Day business is no indication of what's in store for the rest of the year. Furniture sales during the holiday weekend were far from stellar despite heavy promoting, several retailers said.
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Pennsylvania House gets back to basics
Lewisburg, Pa.— Since taking the reins at Pennsylvania House in January, Tom Tilley has stressed the basics at the 115-year-old solid wood specialist. The basics include great product, smart sourcing, growth in gallery distribution and an effort to build the company as a sought-after consumer brand.
Opinion Today
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Winners know their customers
Know thy customer! That commandment has universal application, from supplier to producer and producer to retailer and definitely retailer to consumer. Furniture/Today's Top 100 furniture store ranking for 2001 makes it clear that many of the winners know their customers. But it seems that out ahead of the pack are those specialty retailers who are a tad offbeat in furnitureland — the Pie...
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Keep your ears open to the changing times
Years ago, I'd have opened this column with the exclamation, "Times are a-changin'!" But not today. Today's opening statement is, "Times have changed." Times have changed? Yes, even in our Never-Never-Land of home furnishings. And particularly in your customer makeup when you have more than one store location to aggravate yourself with.
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Now's the time to grab the big under-25 crowd
I'm thinking of bringing my sons — all four of them — to the October market so that Furniture/Today could furnish you with a highly focused consumer panel of preteens, teens and young adults. You really need to talk to them, but not because they are my kids. Believe me, they have no special industry insights simply because their father is the editor of Furniture/Today.
People Today
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Therapedic honors Miami-area retailers
Miami— Therapedic International and regional licensee Therapedic Florida have honored retailers in the Miami area with Therapedic's President's Award. The dealers were recognized for outstanding sales and service of the company's Medi-Coil sleep products. Stores honored included Park Furniture, West Palm Beach; Wholesale Bedding Co.
- People on the Move
People on the Move
Special Report
- Top Canadian Retailers
Top 10 advance sales 12%
Ottawa— Canada's Top 10 furniture and bedding retailers outperformed in the rest of the industry during 2001, with sales advancing by 12.1% to a collective high of C$2.8 billion. Total market share for the group also advanced three points to 46.9%. However, Canadian furniture retailers as a whole enjoyed a respectable growth rate of 5.
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Eight-leg look gains foothold
High Point— Increased attention to formal styles for dining room furniture in recent years and an inherent value statement are making eight-leg tables a more important category in a broader range of price points. Once largely the province of high-end manufacturers, the eight-leg configuration has shown up among introductions at more medium-price dining suppliers in the past year.
- Top Canadian Retailers
Conservative management, calculated risk secures Top 10
Ottawa— Canada's Top 10 furniture and bedding retailers haven't changed substantially in recent years, a testament to the power of conservative management coupled with a willingness to take a risk where warranted. This is particularly true of the first seven names on Furniture/Today's exclusive survey of furniture retailing in Canada.
- Top Canadian Retailers
Buying groups remain major industry influence
Ottawa— Buying and marketing groups remain potent forces in Canada's furniture retailing industry, but imports and competition from the majors has caused a shift in their priorities. Five buying groups currently dominate the retail scene in this country, but only two — Mega Group of Saskatoon, Saskatchewan, and the Allied Home Furnishings Network, based in Vancouver, British Columbi...
Up Front
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Store a new direction for Homestead House
Fort Collins, Colo.— Homestead House has opened its first Touchstone Design Studio & Furniture store here, further playing up the proprietary brand name it has developed. The Top 100 retailer converted its former Homestead House on College Avenue to a 31,000-square-foot Touchstone store, completely reworking the interior and exterior, said Mark Smith, vice president of Touchstone's re...
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Lacquer Craft to build big China plant for Legacy
Shanghai, China— Chinese case goods manufacturing powerhouse Lacquer Craft will build a $50 million, 3 million-square-foot-plus factory, warehouse and office complex near here devoted exclusively to supplying Legacy Classic. Whitsett, N.C.-based bedroom, dining room and occasional importer Legacy Classic has been Lacquer Craft's largest and fastest-growing customer, said Samuel Kuo, chair...
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Payne is Lexington VP
Lexington, N.C.— Stan Payne has joined full-line resource Lexington Home Brands as vice president of legal and administration. He reports to Lexington's president and chief executive officer, Bob Stec. Payne will be responsible for legal and regulatory affairs, and administration of sales and distribution policies, customer service and strategic development.
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Shanks rethinking Dallas strategy
Austin, Texas— Louis Shanks of Texas is pushing back plans for a Dallas superstore and now says its entrance into the market could take on a new form. The five-store, Top 100 retailer said it is being cautious given the weak economy last year, but it also is working through a change in ownership among some of its largest suppliers.
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Doyle set to succeed Abolt as ISPA president
Alexandria, Va.— Richard Doyle, a former executive with the American Chemistry Council, will succeed Russ Abolt as president of the International Sleep Products Assn. in July. Doyle said ISPA faces "a defining time" as it seeks to chart its future direction through a new strategic planning process that will begin this year.
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Bradley named president at Baker Knapp & Tubbs
Grand Rapids, Mich.— Former Henredon executive Daniel Bradley has been named president of Baker Knapp & Tubbs, which includes the entire Baker organization of high-end case goods and upholstery manufacturing, design showrooms and seven retail stores. He takes over the responsibilities formerly held by Chris Plasman, who left Baker late last year.
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Pulaski promotes pair
Pulaski, Va.— Pulaski Furniture has promoted two of its senior officers, giving each new duties. Jim Kelly, who has been executive vice president of product development, adds marketing to his title. Lawrence Webb Jr., who has been executive vice president and chief financial officer, is now also chief operating officer.
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Ekornes eyes U.S. growth
ALESUND, Norway— In a region better known for picturesque fjords, summer skiing and the midnight sun, reclining furniture specialist Ekornes is trying to get the world to listen to its message about comfort. The company, Norway's largest furniture manufacturer, already has convinced residents of its homeland and much of Western Europe that its reclining chairs are the most comfortable mon...
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