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Furniture|Today -- 03/03/2003
Bedding Today
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Dear furniture stores: There's bucks in bedding
This week we make our points in the form of an open letter to furniture stores and other retailers who carry bedding. Dear busy executive: I know you've got a lot to do these days, but I want to take just a few moments to discuss the very latest consumer research from your friends at Furniture/Today.
Business Today
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Shermag doubles 3Q net income
Sherbrooke, Quebec— Full-line manufacturer Shermag doubled net income to C$4.3 million as net revenue advanced 17.2% to C$47.4 million in its third quarter ended Jan. 3. For the nine months, net revenue was up 19.6% to C$131.7 million, while earnings rose 162.7% to C$11.2 million. Sales to U.S.
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Confidence nosedives to lowest since Oct. '93
New York— The Conference Board's Consumer Confidence Index fell nearly 15 points in February and now stands at 64 points, the lowest since October 1993, when it reached 60.5. The Expectations Index dropped 15.5 points and the Present Situation Index fell 13.7 points. Looking ahead six months, survey participants retrenched on buying plans for big-ticket items, with the exception of home b...
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Culp margins up, sales down
High Point— Textile major Culp Inc. reported a sharp increase in gross margin in its third quarter ended Jan. 26, although sales were down 12.5% to $79.3 million. The company said its gross margin was up from 14.9% a year ago to 18.3%, excluding restructuring-related charges, its highest third-quarter gross margin in 15 years.
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Aaron '02 revenues up 17.2%
Atlanta— A strong fourth quarter helped Aaron Rents to big gains in sales and earnings last year, despite losses at Sight & Sound, its recently acquired electronics store chain. The rent-to-own and rental giant said 2002 revenues rose 17.2% to $640.7 million, while earnings more than doubled to $27.
News
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Buyers from 8 states shop Minneapolis market
Minneapolis— Buyers from eight states turned out for the Minneapolis Winter Home Furnishings Market, which ran Jan. 31 through Feb. 3, show organizers said. The show saw retailers from Illinois, Iowa, Michigan, Minnesota, Nebraska, North Dakota, South Dakota and Wisconsin. "We had a great market, one of the best we've had in years," said Jim Emerson of exhibitor Mastercraft Furniture.
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Retailers Assn. of Massachusetts honors Alperts Furniture
Boston— The Retailers Assn. of Massachusetts has honored Alperts Furniture of Seekonk, Mass., as its Retailer of the Year. "We are delighted and honored to be chosen for this prestigious award," said Hershel Alpert, chief executive officer of Alperts. "Our store has seen many changes over the past 30 years.
- Obituaries
Herbert Wolf, retired Pennsylvania retailer
Bellwood, Pa.— Herbert Wolf, a former executive of retailer Wolf Furniture here, died Feb. 20 after an extended illness. He was 72. Wolf, retired in 1994 after 42 years in the business, most recently as senior vice president of real estate and accounts receivable for Wolf. Survivors include his brother, John Wolf, Wolf chairman; nephew Doug Wolf, Wolf president; and son Dave Wolf, a retai...
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A–Z Media taps Craft, Orme
Carlsbad, Calif.— A–Z Media has launched a range of advertising and marketing services for home furnishings retailers and has named two executives to lead the effort. Lester Craft Jr., former editor in chief of Furniture/Today, is the newly hired vice president of sales. Steve Orme, formerly national director of sales at A–Z Media, has been promoted to vice president of market...
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Corrections & Aamplifications
The manufacturer of this youth bedroom armoire was not named when the picture appeared on page 1 of the Feb. 24 issue. It's from Lea Inds.' new McKenzie's Park collection.
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Drexel Heritage creates three-brand ad campaign
High Point— Full-line manufacturer, importer and retail franchiser Drexel Heritage is set to roll out fresh national print advertising to support its tri-branding strategy. Each product segment — starting-price dh, midpriced Drexel and top-end Heritage — will have its own ads, but all will share several characteristics.
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Shermag beefing up dining room line
Sherbrooke, Quebec— Shermag is broadening its import program with five new master dining rooms in maple and birch, in the company's top-selling finishes. "We're planning to make a major statement in master dining room," said Larry Beasley, vice president of marketing for the full-line producer.
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Market Prayer Breakfast set for April 2
High Point— The ninth annual Furniture Fellowship Prayer Breakfast will be held Wednesday, April 2 from 7–8 a.m. in the ballroom of the International Home Furnishings Center, on the eleventh floor of the Green Wing. The guest speaker is Horst Schulze, former president and chief executive officer of Ritz-Carlton Hotel Co.
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Thailand fair to spotlight indigenous parawood
Bangkok, Thailand— Furniture made of Thailand's indigenous parawood will be in the spotlight at the Thailand International Furniture Fair here in March, with pieces from a product design and development demonstration highlighted during the show. The demonstration will be hosted this month by the Thai department of export promotion's Product Development Center here.
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100th Badcock & more opens
Mulberry, Fla.— With the opening of a store in Chiefland, Fla., W.S. Badcock Corp. now has 100 locations operating with the Badcock & more concept. In addition to the Chiefland store, which is owned and operated by Carol Tew, Badcock has also completed Badcock & more conversions in Mobile, Citronelle and Andalusia, Alabama; Tifton, Waycross and Statesboro, Georgia; and Perry, Napl...
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FurnishNet founder Tim Morton leaves
San Diego— Tim Morton, one of the four founders of FurnishNet, has left the company, a subsidiary of GERS since 2001. He resigned to pursue interests in investment banking, the career he left to found FurnishNet in late 1999. Morton helped launch the business-to-business Internet company with Terry Root, David Hood and Ron Sellers.
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Spirits high in Tupelo
Tupelo, Miss.— It didn't snow during the February edition of the Tupelo Furniture Market, but several days of heavy rain was one of the many things that could have dampened the spirits of marketgoers. But neither rain, nor rising fuel prices, nor a possible war in Iraq could keep the 30,000-plus buyers and exhibitors from doing business.
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Drexel's Tuscan Sun to rise in April
High Point— Drexel Heritage will introduce at the April market the Tuscan Sun Collection, an addition to its Heritage line, licensed and inspired by Frances Mayes, author of the best-selling book "Under the Tuscan Sun." Mayes is an authority on Italy's historic region of Tuscany, and an advocate of the relaxed yet culturally rich lifestyle found in its vineyards and hills.
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Portugal fair stirs business with styles
Porto, Portugal— Manufacturers here put their best designs forward at the latest Export Home show, aiming to stir excitement despite uncertainty about the economy and the Iraq situation. The 15th edition of the trade show in this northern Portugal city, a region that is home to much of the nation's furniture manufacturing, maintained its size with 750 exhibitors and an estimated 34,000 vi...
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Canadian markets, conferences set
Toronto— A number of markets and conferences are on tap for the Canadian furniture industry this year. Mega Group will hold its annual general meeting and convention April 10–12 in Vancouver, British Columbia. The buying group also plans a September conference focusing on retail education.
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Hanna directing OFMA member services
Mississauga, Ontario— Industry veteran David Hanna has joined the Ontario Furniture Manufacturers Assn. as director of member services. His mandate is to recruit new members and affiliates and to develop a new package of member benefits. Hanna also will be involved in the Canadian Home Furnishings Awards program, encouraging manufacturers to enter and assisting them in developing entries.
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Fraschetti is Primo sales mgr.
Montreal— Industry veteran Claudio Fraschetti has joined manufacturer and importer Primo International as sales manager. He will be responsible for sales and marketing in Ontario and Atlantic Canada, for relationships with the buying groups, and for sales in key U.S. states, including California, Florida and Arizona.
Opinion Today
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Let's get economic ball rolling in right direction
A recent Reuters story ran with the headline, "Data paints a surprisingly poor picture." It was all about bad economic news — a slowdown in domestic manufacturing in February, a spike in first-time unemployment benefits and wholesale inflation, and Americans' ever-increasing appetite for foreign over domestic goods.
People Today
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Broyhill's Medlock gets 1st Generations of Pride award
Hickory, N.C.— Henry Medlock, a 55-year veteran of Broyhill Furniture Inds., received the first Generations of Pride award during the 23rd annual Hickory Furniture Suppliers Show here. A scholarship grant in Medlock's name was given to Andrew Johnson, the fourth generation in his family's Dagenhart Woodcarving Co.
- People on the Move
People on the Move
Executives Leggett & Platt Carthage, Mo. — Richard Fisher has been named presiding director for supplier Leggett & Platt's board of directors. He will act as chair at executive seesions of non-management directors. Household International Prospect Heights, Ill. — Valerie Greer has been appointed senior vice president of business development for the Household Retail Services ...
Special Report
- Market Report
Motion remains industry bright spot
Tupelo, Miss.— There are countless reasons to be negative about business, but motion furniture buyers did their best to remain upbeat when they shopped the semiannual market here. Motion, in fact, has been one of the few quasi-bright spots throughout the recent industry slump, and buyers came here looking for ways to continue to prime the motion pump and get consumers into their stores.
- Retailer Profile
Canadian store carves out fashion niche
Waterloo, Ontario— Repeat customers account for 46% of sales at fast-growing independent retailer Home Fashion Market here, and owners Stan and Ella West are convinced that's because they and their staff truly care about consumers. But there's more the single-store retailer has going for it — a well-thought-out business model focused on discipline, organization and structure.
- Retailer Profile
Sales floor a lot like classy home
Waterloo, Ontario— Home Fashion Market believes nothing sells a great home environment better than a great home environment in its store. Music, scents, textures and colors are used to enhance themed "halls" of coordinated room settings. "Each hall showcases another style and product category, making the layout very consumer friendly and memorable," said co-owner Stan West.
- Retailer Profile
Web site seen as key part of marketing strategy
Waterloo, Ontario— The Internet is the most powerful marketing tool ever created, says Stan West of Home Fashion Market. He believes that, in time, every furniture retailer will have to have a strong Web presence to survive. "We're just scratching the surface of its potential," West said. "With the power of the Web, consumers are equipped with more knowledge than ever before.
- Retailer Profile
Ads aim for impact, consistency
Waterloo, Ontario— Home Fashion Market's advertising is driven by its Better Living magazine, a twice-yearly publication sent to every name on its customer list. The full-color, glossy magazine offers decorating tips and updates clients on fashion trends while showcasing HFM's newest products. Beyond the magazine, the media of choice is broadcast.
- Market Report
Fresh styles, specials drive Tupelo biz
Tupelo, Miss.— Upholstery manufacturers were busy writing orders here last week for a selling season that has become extremely important for the lower end. Producers of promotional seating said they had both strong attendance and order-writing during the four-day market. The brisk pace here, they said, is icing on the cake for what has become the strongest part of the year.
- Market Report
New faces, fresh twists key Tupelo leather
Tupelo, Miss.— The leather category was hopping again in Tupelo this market as new players continue to stream into the category. Davis International and Kathy Ireland Home by Standard were among the latest entrants seeking a share of the pie. Brazilian-based Niroflex and Asian importers Collezione Europa and Coaster also showed their leathers in Tupelo for the first time.
- Market Report
Wood arena adds pizzazz
Tupelo, Miss.— Retailers shopping for deals at the Tupelo Furniture Market found new promotional and lower-medium priced case goods with added pizzazz and style. In casual dining, Bernards Furniture was one of a number of companies stepping up dining sets in looks and price to the $399 and $499 retail range.
- Market Report
More case goods than usual introduced in Tupelo
Tupelo, Miss.— Buyers had boatloads of new case goods to check out at market here. Tupelo typically is a place where many wood companies show furniture previously introduced in San Francisco or High Point. But that changed this market for a variety of reasons. Tupelo is more relaxed than High Point, said Phil Miller, vice president and general manager of bedroom and youth resource Founder...
Store Openings
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Norwalk opens nine Your Home Fashion Centers
Norwalk, Ohio— Norwalk Furniture has installed Your Home Fashion Center galleries in the stores of nine independent retailers. They are Adcock Furniture in Athens, Ga. (5,000 square feet); H&H Antiques, Havana, Fla. (5,000 square feet); Shaw Furniture, Taylorville, Ill. (5,000 square feet); Aunt Zelda's, Macon, Ga.
Supplement
- Bedding Today
Successful stores hardly ever sleep
Everyone likes retail success stories. We have two of the best ones in the bedding business for you in this special bedding section. The first one ties in with our special focus in this issue on the specialty sleep category. The company is Select Comfort, the Minneapolis-based airbed producer and retailer.
- Bedding Today
Futon, specialty sleep category on a roll
Las Vegas— If what happens at the Futon and Specialty Sleep Expo here this week is any guide, and it certainly should be, the futon category is heading for another good year. The show, the annual venue for new futon and specialty sleep products, is a sellout, a welcome development at a time when home furnishings sales are less than stellar.
- Bedding Today
Select Comfort: It's a numbers game
Minneapolis— Airbed producer and retailer Select Comfort dialed into success when it introduced its innovative Sleep Number Bed in January 2001. The idea is simple: A digital readout on a remote control device gives consumers a numerical reading of the mattress's firmness — the higher the number, the firmer the bed.
- Bedding Today
Touting better sleep
Minneapolis— Airbed producer and retailer Select Comfort was founded by a former innerspring mattress producer who wanted a better night's sleep. That same thought motivates the company today. In its marketing materials, the company says it offers "a new generation of sleep comfort and technology.
- Bedding Today
Firm or soft? The answers are on the cards
Minneapolis— If you want to know how firm or soft a Select Comfort employee sets his or her Sleep Number bed, just ask for a business card. Each card prominently highlights the personal Sleep Number of the employee. That Sleep Number comes from a digital printout that shows which firmness feels most comfortable to the user.
Up Front
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Big Serta licensees complete merger
Itasca, Ill.— Serta's two largest licensees have completed their merger, creating a new powerhouse in Serta and in the bedding industry. The transaction combines Sleepmaster, formerly Serta's largest licensee, which had been operating under Chapter 11 bankruptcy protection, and National Bedding Co.
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ATMI to hear CPSC chief
Washington— Hal Stratton, chairman of the U.S. Consumer Product Safety Commission, will speak at the annual meeting of the American Textile Manufacturers Institute, set for April 2–3 at the Biltmore Hotel in Coral Gables, Fla. The CPSC is responsible for federal regulation in several areas of interest to U.
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YHFE leader conference wins praise
Greensboro, N.C.— Over 80 industry leaders gathered here last month for intensive training based on Stephen Covey's "The Four Roles of Leadership," part of a three-day event hosted by Young Home Furnishings Executives and Women in the Home Industries Today. The first day was a "Day of Learning" for WithIt members, focusing on marketing to Generation X consumers.
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Finneran joins American Century
Archdale, N.C.— Textile veteran Tom Finneran has joined American Century Home Fabrics as its first president. The year-old textile company produces home furnishings fabrics in China and warehouses them in High Point and Tupelo, Miss., for quick ship. The company also offers cut- and-sew services.
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Southwood hires Bingham
Hickory, N.C.— Frank Bingham has joined Southwood Furniture, a maker of 18th century and traditional upholstery and occasional furniture, as director of marketing. He reports to Rocky Holscher, president. Most recently, Bingham was vice president of sales and marketing for leather upholstery manufacturer W.
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Mega Group taps Buckman
Saskatoon, Saskatchewan— Mega Group has named industry veteran Christine Buckman director of merchandising for case goods and accessories. She succeeds Bill Speer, who has retired from the member-owned buying group. Buckman will be based at Mega's new merchandising office in Mississauga, Ontario, and reports to Rob Alexander, vice president of merchandising.
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Haltom in new post at Mayo
Texarkana, Texas— Sonya Haltom has joined upholstery manufacturer Mayo's marketing services division. She previously worked as a freelance designer, at Atlanta-based retailer Havertys, and in the floral industry. In her newly created role, she is responsible for fabric buying, fabric-to-frame application and sales staff support.
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Hobby Lobby owner eyes big home furnishings chain
Oklahoma City— The founder of Hobby Lobby, a 312-store, $1.2 billion crafts retailer, has opened three upscale Hemispheres home furnishings stores and plans to develop the chain into another billion-dollar nationwide business. David Green, president, owner and chief executive officer of Oklahoma City-based Hobby Lobby, opened the first Hemispheres here in September 2001, followed in Octob...
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NHFA to honor Masin, Lipton
High Point— Bob Masin of Masins Furniture & Interiors in Seattle and Ian Lipton of Hazelton, Pa.-based Nathan's Furniture will be honored as the National Home Furnishings Assn.'s Retailers of the Year at a gala at the April furniture market here. A panel of industry judges chose the two on the basis of their contributions to the industry, community involvement and leadership.
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Calif. wants tough standards
North Highlands, Calif.— Open-flame mattress flammability standards developed by the California Bureau of Home Furnishings and Thermal Insulation propose a tough, hour-long burn test. The peak heat release rate of the tested product is placed at a conservative 150 kilowatts at any time during the test, the bureau said.
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Segusino reborn under new owner
Chipilo, Mexico— The Segusino brand has been reborn here under the leadership of Jaime Eskauriatza, the former Mexico case goods manufacturer's United Kingdom distributor. Eskauriatza acquired the rights to the line soon after Muebles Rustico Segusino shut down early this year. He then launched Segusino International, of which he is general manager, and opened a 250,000-square-foot plant ...
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