|
|
|
|
Furniture|Today -- 09/16/2002
Bedding Today
-
Key issues on agenda at ISPA industry event
There's a big issue looming on the bedding horizon that is simply not on many retail radar screens. But retailers, like everyone in the bedding industry, will be affected by tough new mattress flammability regulations. A requirement that mattresses and bed clothes pass tests for resistance to small-open-flame ignition goes into effect in California in January 2004.
Business Today
-
HBC earnings drop 65%
Toronto— Hudson's Bay Co. said sales and revenues in its second quarter ended July 31 remained essentially flat at C$1.69 billion, but net earnings plummeted nearly 65% to C$4.7 million from C$13.4 million in last year's quarter. HBC is the parent of two leading Canadian retailers, department store The Bay, ranked No.
-
FBI, Leggett lower 3rd quarter forecasts
High Point— Furniture Brands International and Leggett & Platt lowered third-quarter earnings forecasts last week, providing further evidence a rebound in home furnishings sales has yet to take hold. Furniture Brands, the largest U.S. furniture maker, said sales were particularly weak in its upper-end Thomasville, Drexel Heritage and Henredon brands.
-
BMTC revenues surge 30.4% in 2Q; net income climbs 31.2%
Montreal— BMTC Group, Quebec's largest furniture and bedding retailer, said revenues shot up 30.4% in the second quarter to C$212.8 million, and net income surged 31.2% to C$7.1 million. For the first half, revenues grew 35% to C$383.9 million and net income advanced 32.6% to C$8.9 million. BMTC operates 23 stores under the Brault et Martineau and Ameublements Tanguay banners.
-
Valspar earnings jump 49.2% on 3Q sales increase of 5.5%
Minneapolis— Coatings supplier Valspar reported earnings jumps of 49.2% and 73.9% for its third quarter and year-to-date, respectively, compared with year-earlier results. Sales were up 5.5% for the quarter and 11.8% for the first nine months. Sales in the quarter ended July 26 were $575 million, compared with $544.
-
Foamex carpet-cushion unit will be sold to L&P
Linwood, Pa.— Foamex International said it has signed a letter of intent to sell its GFI carpet-cushion business to Leggett & Platt, scrapping an earlier plan to swap that business for Leggett's polyurethane foam business. Under terms of the revised plan, Foamex will sell GFI to Leggett for about $70 million.
News
-
Gautier's U.S. facility includes showroom, extends quick-ship
Pompano Beach, Fla.— Gautier USA, a division of France's The Gautier Group, has relocated its headquarters to a 43,000-square-foot building here with a new, 6,000-square-foot showroom and nearly twice as much warehouse space as before. Although the company has maintained inventory on all its U.
-
From antique to modern
High Point— New collections with an ambience of collected antiques, some based on actual pieces and some eclectic by design, abounded in case goods showrooms at premarket here last week. The trend was apparent across a range of price points, from Century's Oscar de la Renta introduction and a French collection at Henredon to Lane's licensed line with Country Living, which leans toward sol...
-
Seating slimmer, colorful
High Point— With sales lackluster in the past few months, upholstery makers are pitching a little of everything for October in hopes of making things better through the second half. Judging from last week's premarket, that will include scaled-down frames; a new round of fabric colors, many from the coral/paprika/mango family; and a strong showing of exposed wood with matching occasional p...
-
Clean looks, soft colors key leather intros
High Point— Retailers betting on seeing a host of new leather upholstery here at premarket hit the jackpot. Leather suppliers from around the world were out in force with aggressive introductions in both stationary and motion upholstery in designs that ran the style gamut. Fred Starr, president of Natuzzi Americas, said the major trends included a move toward cleaner looks, a renewed inte...
- Obituaries
Obituaries
-
Wearbest wins design award
Brussels, Belgium— For the fourth consecutive year, Wearbest Sil-Tex was honored with an international design award at the Decosit fabric fair here. This year the jury selected a Wearbest pattern as the winner in the contract design category. The contract awards were open to upholstery fabric producers as well as manufacturers of window coverings, wall coverings, floor coverings and top-o...
-
Furniture is strong for catalog, Internet firm
Chicago— Furniture is a good and growing business for Direct Marketing Services Inc., the catalog and Internet retailer that merchandises and markets a number of Sears specialty catalogs and associated Web sites. DMSI's sales, including its own HomeVisions catalog and Web site, did just under $150 million in 2001, and expects to do about 10% more this year, said President David Milgrom.
-
DMSI throws vendor appreciation party
Chicago— Direct Marketing Services Inc. held its ninth annual vendor appreciation dinner at the Chicago Firehouse here earlier this month with some 200 vendors joining the festivities.
-
ABC's Kimia: Casual contemporary rugs proving strong
New York— "The contemporary category is becoming stronger than ever in rugs. That's where we are seeing the most interesting styling developments." So says Alex Kimia, senior executive vice president of ABC Carpet & Home here, whose responsibilities include buying and merchandising the upscale specialty retailer's extensive rug department.
-
How to create a 'monster'
New York— "For a mom-and-pop store, ABC hasn't done badly." That's the wry observation of Paul Chapman, president of ABC Carpet & Home, as he looks around the retailer's 500,0000-square-foot warehouse store in the Bronx here. Downtown, the posh Manhattan store gets the publicity and the tourists.
-
ABC Carpet & Home: 100 years in the making
New York— The ABC Carpet & Home phenomenon only took a hundred years to happen. Sam Weinrib arrived in New York from Austria in 1897 and started selling used carpet and linoleum from a pushcart on Manhattan's lower East Side. His son, Max, turned the pushcart into a floor covering store. Max's son, Jerome, moved the store to 881 Broadway at 19th Street.
-
Valdese donates $25,000 to Red Cross 9/11 fund
Valdese, N.C.— Valdese Weavers donated $25,000 raised through sales of its Old Glory pattern to the National Disaster Relief Fund of the American Red Cross to honor the organization for its work after the Sept. 11 attacks and in memory of those who died as a result of the tragedy. "Once the proceeds of this pattern reached the $25,000 mark, coupled with the 9/11 one-year anniversary, we b...
-
British textiles companies report strong first quarter
London— The British Interior Textiles Assn. has released the results of its first trade survey of its members, which shows "buoyant" business in the first quarter of 2002, with 46% reporting higher sales than in the same quarter last year. Companies in the mass-market segment reported very bullish results, with none recording a drop in sales, profits or employees.
-
Turkish show attracts 76,000
Istanbul, Turkey— Evteks, the annual Istanbul International Home Textile Exhibition, attracted more than 76,000 visitors to its May run, organizers said. Next year's event is set for May 21–25. Categories at the show, billed as the second-largest in the world after Heimtextil, included upholstery fabrics, window coverings, top-of-bed and household linens.
-
He's striking up the bands for new mattress system
Sumter, S.C.— Longevity Mattress Co. is literally stretching the borders of creativity with a patented new mattress that it says provides a unique feel for consumers. The producer, based here, is rolling out mattresses incorporating its invention, the Weight Tension Support System, which features two elastic bands stretched around the innerspring unit in the mattress.
-
Office/exercise line expanding into home entertainment
Logan, Utah— Hidden Grove, an innovative line that combines exercise equipment with home office furniture, is expanding into home entertainment for the October High Point market. Introductions will include a TV cart, three pier options, light bridge, armoire and hutch in oak, maple and cherry. Two new wall systems are designed for consumers who want an entertainment/exercise combination; ...
-
Intros appear up for Oct.
High Point— Manufacturers used premarket here last week to show off not only new goods, but also new product categories. While some producers said a few key retailers they had expected to see here stayed home, others said their appointments were in line with past premarkets and that strong Labor Day sales had put customers in an upbeat mood.
-
Lane debuting Country Living line in Oct.
New York— Country Living magazine and Lane Home Furnishings have signed a licensing agreement to develop and market a line of furniture that will debut at the October High Point market. Initially, the Country Living Collection by Lane will include about 100 SKUs — 65 in case goods, 10 occasional tables and 20 upholstery pieces.
-
Lane adding stationary upholstery in fabric
High Point— Lane Home Furnishings will enter the stationary fabric upholstery arena at the October market with 15 to 20 frames in the $699 to $999 retail range. The collection of traditional, transitional and contemporary styles will plug a major void in the company's line. Upholstery pieces will be introduced with correlated tables and matching recliners.
-
Upscale motion seats active at premarket
High Point— While many motion upholstery producers were touting goods at promotional price points during premarket, several also took the opposite tack by previewing leather home theater seating groups that were anything but promotional. Producers said increased sales of large-screen TVs and DVD players are driving the product, which appears more resistant to economic slowdowns because co...
-
Sure Fit Ugly Couch contest living up to name
New York— The eighth annual Sure Fit Ugly Couch contest is entering its final stages, and sometime in September the grand prize winner for 2002 will be chosen. The three finalist sofas and their owners will travel to New York and the winner will receive a $10,000 living room makeover supplied by Budget Living magazine.
Opinion Today
-
Timberlake got to know furniture as a youngster
When Lexington approached Bob Timberlake about a furniture collection in the late 1980s, the North Carolina-based artist was pleasantly surprised. It hadn't occurred to him that his name could become a furniture brand. The World of Bob Timberlake is now one of the best-selling furniture collections of all time.
-
Honoring 9/11 heroes in a local, practical way
As our nation and the world stopped last week to mark the anniversary of the Sept. 11 terrorist attacks, I realized the day truly underscored the very best and worst of all that we are or hope to be. While the attacks represented evil personified, the reaction of the countless, nameless heroes showed me the other side of the human coin — a side filled with bravery, dedication, hope and pu...
-
Brussels: Attendance down, prints up
Another September of Decosit, DecoContract and TIP, the European fabric shows, has come and gone in Brussels, Belgium. Nearly everyone reported that attendance was down. But as one American said about overall business results, "I'm not crying in my beer." It was clear that the overlap of the Jewish High Holy days with these shows had a significant impact.
People Today
-
Guardsman taps Stapleton
Grand Rapids, Mich.—–Tara Stapleton has been named customer development representative for Guardsman. Stapleton's role will be that of corporate trainer, traveling throughout Canada to educate furniture retailers about Guardsman furniture protector products. Stapelton previously was employed with TLC Laser Eye Centers, where held the positions of corporate trainer, store management ...
- People on the Move
People on the Move
Awards Restonic Rosemont, Ill. — Restonic Mattress Corp. has honored 11 sales representatives with its 2001 Sales Achievement Award, which recognizes reps who have far exceeded their sales goals. This year's winners are Bobby Birdwell and Angela Guidry, Houston; Steve Dalberth and Bob Homerski, Buffalo, N.
Special Report
-
Outdoor living furniture and function expand
High Point— Family rooms are moving outdoors as boundaries continue to blur between the inside and outside of homes, where consumers are spending more of their time. Many outdoor furniture specialists are reaping benefits of a declining travel market as homeowners make their great escape to the backyard.
-
Casual market convenes in Chicago
Chicago— The International Casual Furniture & Accessories Market, produced by the Merchandise Mart Properties Inc., just closed the doors on its 2002 event held Sept. 10–15. The trade show is sponsored by the Summer & Casual Furniture Manufacturers Assn. and the National Assn. of Casual Furniture Retailers.
- Furniture Store Performance Report 2002
Retailers hold steady
Furniture/Today's 11th annual Furniture Store Performance Report offers a range of benchmarks relevant to today's furniture retailing experience This report, which documents operating results for fiscal years ending between Dec. 31, 2001, and May 31, 2002, includes key measurements in profitability, merchandise performance, and buying, advertising and employment practices.
- Furniture Store Performance Report 2002
Medium Stores $5–$20 million in sales
Efficiency measures Buying practices Special order Advertising and promotions Salary and benefits
- Furniture Store Performance Report 2002
Large Stores $20 million+ in sales
Efficiency measures Buying groups Special order Advertising and promotions Wages and benefits
- Furniture Store Performance Report 2002
Western Stores
Efficiency measures Buying groups Special order Advertising and promotions Wages and benefits
- Furniture Store Performance Report 2002
Midwestern Stores
Efficiency measures Buying practices Special order Advertising and promotions Salary and benefits
- Furniture Store Performance Report 2002
Southern Stores
Efficiency measures Buying groups Special order Advertising and promotions Wages and benefits
- Retailer Profile
Unique bedding strategy scores for Olum's
Vestal, N.Y.— Olum's is a superstore that handles its bedding like a specialty store, even though it doesn't really have a bedding department. Serving the Binghamton, N.Y., market with two stores, Olum's counts on bedding for about 25% of its home furnishings sales, and the company has achieved that remarkable ratio with a unique strategy.
- Furniture Store Performance Report 2002
Northeastern Stores
Efficiency measures Buying practices Special order Advertising and promotions Salary and and benefits
- Furniture Store Performance Report 2002
All Stores
Merchandise/display mix By product group Gross space by function Percentage of total square feet dedicated to: Markets/shows attended Number of shows attended this year Interior designers Damaged goods Percentage of manufacturer defects in: Medians Medians Employees by function Profitability ratios Medians Delivery time Average time span between time of order from manufacturer to delivery Outso...
- Furniture Store Performance Report 2002
Profitability measures
Medians Western Stores Small Stores < $5 million Midwestern Stores Southern Stores Medium Stores $5–$20 million Northeastern Stores Large Stores $20 million+
- Furniture Store Performance Report 2002
Small Stores < $5 million in annual sales
Efficiency measures Buying groups Special order Advertising and promotions Wages and benefits
Store Openings
-
Thomasville opens two stores in metro Philadelphia
Thomasville, N.C.— Thomasville Furniture has opened two stores in the Philadelphia area. Thomasville Home Furnishings of Moorestown opened in April on Nixon Drive in the East Gate Square Shopping Center. Thomasville Home Furnishings of Oxford Valley opened in June on Commerce Boulevard in The Court at Oxford Valley.
-
Coffman's expands La-Z-Boy
Jackson, Tenn.— Coffman's Furniture here has expanded its La-Z-Boy Gallery to 6,500 square feet. The gallery is part of Coffman's 35,000-square-foot showroom. The store is owned by Ben Coffman, Bobby Coffman and Mark Coffman.
-
Drexel adds Roswell store
Atlanta— Jim and Denise McPartland have opened a Drexel Heritage Home Inspirations Store in the suburb of Roswell. The unit measures 12,500 square feet. "We hope to open three or four more stores in the Atlanta area in the future," said Jim McPartland.
-
Belfort installs youth gallery
Sterling, Va.— Belfort Furniture has installed a 1,200-square-foot La-Z-Boy Youth Collection gallery in its newly opened 25,000-square-foot store here. Ted Schnebele is president of Belfort Furniture.
-
Youth gallery opens in Indiana
Indianapolis— Today's Bedroom One has installed a 1,800-square-foot La-Z-Boy Youth Collection gallery in its store, which was recently expanded by 3,400 square feet.
-
Interiors 2000 renovates store
Lancaster, Pa.— Interiors 2000, a furniture and interior design store here, is renovating and expanding by 13,000 square feet. The expansion plan includes parking and site improvements, extensive interior renovation, a new entrance and the addition of display space. Lillian F. Lehman opened the store in 1967, selling modern styles.
-
DWR to open flagship store
Beverly Hills, Calif.— Design Within Reach is set to open in October a 4,300-square-foot flagship studio in the Rodeo Drive district of Beverly Hills, the second in a series of stores planned for the Los Angeles area. The flagship studio is located in a former bank designed in the 1970s by architect Ray Kappe.
Up Front
-
Union Square: A bash-full debut
High Point— Union Square, High Point's newest showroom building, will celebrate its grand opening next month with a big bash. Principal owner Scott Mooney, who has overseen renovation of the former Adams-Millis hosiery plant for more than a year, is throwing a party on Friday, Oct. 18, and anyone and everyone connected to the furniture industry is invited.
-
Longest sofa makes stops at Art Van
Warren, Mich.— The longest sofa in the world made its first U.S. stop at Art Van Furniture this month. Listed in the Guinness Book of Records, the red leather giant, manufactured and co-designed by Italian producer Natuzzi, measures 115 feet long, can seat 138 people and came in 65 pieces. Its backrest is positioned in the center, allowing people to sit on both sides.
-
Huppé acquires stake in Roy et Bénot
Victoriaville, Quebec— Contemporary case goods and upholstery producer Huppé has acquired an equity stake in Roy et Bénot, a metal furniture maker based in Montagny, Quebec. Terms of the deal weren't disclosed. Johanne Dionne, director of sales and marketing for Huppé, said the partnership allows Huppé to add contemporary metal furniture to its line.
-
Heilig-Meyers makes profit
Richmond, Va.— Heilig-Meyers reported a $780,000 profit in July, its second and most profitable month of the fiscal year, as earnings at The RoomStore outpaced expenses associated with the retailer's bankruptcy reorganization. The company, which filed for Chapter 11 bankruptcy protection in August 2000, posted sales of $29.
-
MFA names John Bassett manufacturer of the year
Somerville, N.J.— John Bassett, president and chief executive officer of Vaughan Bassett Furniture, has been named 2002 Furniture Manufacturer of the Year by the Metropolitan Furnishings Assn. The association saluted Bassett for his dedication to maintaining the production of furniture in the United States.
-
Behmer joins Bernhardt
Lenoir, N.C.— Jeff Behmer has joined upper-end producer Bernhardt as merchandise manager for occasional products and wall systems. He assumes the post previously held by Steve Joiner, who has been promoted to director of case goods merchandising. Behmer is responsible for product development for occasional and wall furniture, from design concept to sales support.
-
Lane Wood taps Allori for new position
Tupelo, Miss.— Lane Home Furnishings has promoted Ray Allori to vice president of merchandising for Lane Wood, a newly created position. Allori has more than 20 years experience in furniture merchandising and most recently was Lane's dedicated distribution manager. He reports to Skipper Holliman, vice president of marketing.
-
Expectations high for Quebec show
Quebec City— Factories showing at this weekend's Salon du Meuble de Québec expect independent retailers from Quebec and other parts of eastern Canada to show up in force and write orders. Manufacturers say the show attracts a host of small independents, but that Quebec retail heavyweights such as Brault et Martineau and M.
-
New Pa. law requires out-of-state furniture retailers to collect taxes
Ambler, Pa.— A new Pennsylvania law shifts the burden of collecting taxes on out-of-state furniture purchases to the retailer or its delivery agent. Consumers had been expected to pay the state directly — and voluntarily. Furniture retailers and wholesale representatives in the state lobbied for the law, part of a tax package signed by the governor that took effect July 1.
-
Decosit 2002 successful despite unfortunate timing, slow economy
Brussels, Belgium— Decosit 2002 was a successful fabric show despite three issues that probably kept its attendance numbers down slightly — the coincident timing of the show during Rosh Hashanah, the first anniversary of the 9/11 attacks that occurred during last year's Decosit, and poor economic conditions around the world.
|
|
|
