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Furniture|Today -- 03/10/2003
Bedding Today
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Chinese bedding imports worth watching closely
Some new players are getting ready to make waves in the U.S. bedding arena. These waves start thousands of miles away — in China — and now are making their way toward the United States. It's hard to say just how big the waves will be when they break on our shores. But we believe this development is worth watching very closely.
Business Today
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Bush sales dip 1.6% in 2002; company plans to restructure
Jamestown, N.Y.— Bush Inds., parent of ready-to-assemble major Bush Furniture, said that despite relatively strong sales in the fourth quarter, it lost $1.5 million in 2002 as sales dipped 1.6%. Combined with weak demand in this year's first quarter, the results will require a restructuring this year to reduce costs, including closing a St.
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February retail sales a mixed bag
Fort Worth, Texas— February results were mixed at furniture retailers Pier 1 Imports, Havertys and The Bombay Company. Revenues and same-store sales were both up for Bombay, both down at Havertys, with revenues up at Pier 1 and same-store sales down. Bombay, based here, said revenues for the four weeks ended March 1 were up 34% to $34.
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Dorel's net income soars 141.5%
Montreal— Driven by improved performance in its ready-to-assemble furniture and home furnishings divisions, Dorel Inds. said 2002 sales were up 8.2% to $992.1 million as net income spurted 141.5% to $61.6 million. In the fourth quarter, sales rose 9.8% to $241 million while net income swung from a $7 million loss to a $14.
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RTO hikes sales, profits
Edmonton, Alberta— RTO Enterprises, Canada's only national rent-to-own home furnishings merchant, reported improvements in sales and profits in the fourth quarter and year. In the quarter, revenue increased 6.7% to C$18.9 million. Same-store sales advanced 3.2% while net income more than doubled to C$851,000 from C$389,000 in the 2001 quarter.
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Simmons '02 sales up 9.4%
Atlanta— Aided by brisk sales of upper-end products, bedding major Simmons Co. said sales jumped 9.4% in 2002. The company reported a profit of $24.4 million for the year ended Dec. 28. That compares with a net loss of $1.1 million in 2001. "We made outstanding progress in 2002 in a number of areas, adding new customers and improving our product mix," said Simmons Chairman Charlie Eitel.
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Revenues rise 2.7% at IHFC
High Point— Revenues rose 2.7% in the latest fiscal year for the International Home Furnishings Center, and the big showroom building continued its profitable performance with a net margin of nearly 29%. The IHFC had net income of $12.3 million on revenues of $42.8 million in the year ended Oct.
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Analysts trim earnings estimates
High Point— Concerned about continuing weak demand, two prominent industry analysts have cut earnings estimates for several publicly traded furniture manufacturers and retailers. Both Jerry Epperson of Ferris Baker Watts and John Baugh of Wachovia Securities trimmed estimates for retailers Havertys and Ethan Allen, and manufacturers Furniture Brands International and La-Z-Boy.
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Sealy revenue up 3% in yr.
Archdale, N.C.— Aided by a double-digit jump in international sales, bedding industry sales leader Sealy Inc. reported revenues rose 3% to $1.2 billion in its fiscal year ended Dec. 1. Domestic sales, which don't include revenue from its lone U.S. bedding licensee in Paterson, N.J., essentially were flat for the year, rising 0.
Insider's View
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Industry needs to face the hard realities of war
We are at war. As this is being written, we haven't actually launched an invasion of Iraq, but to the American consumer, we are at war. The furniture industry must recognize this and act accordingly. Consumer confidence dropped a whopping 14-plus points in February to its lowest point since 1993. The index is at 64, with the average for 1985, when this series began, being 100.
News
- Obituaries
Robert Owens Nelson, Vaughan board member
Galax, Va.— Robert Owens Nelson, a member of the board of directors and a sales representative for Vaughan Furniture, has died. He was 78. Nelson represented Vaughan in Virginia for 45 years and served on its board for 33 years. He also was a rep for Kemp Furniture of Goldsboro, N.C. He is survived by his wife, two daughters and two grandchildren.
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Room & Board planning Chicago street-level units
Chicago— Room & Board will move two stores here to a new downtown location at Rush and Ohio streets, giving the chain street-level exposure, which the Top 100 store expects will boost sales. The Minneapolis-based chain plans to acquire 48,000 square feet in the DisneyQuest building within 60 days and move in early February 2004.
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Casual takes charge
High Point— Case goods styles were swinging back to decidedly casual among big manufacturers exhibiting at premarket last week. April will mark the most dressed-down High Point show since the heyday of lifestyle in spring 1998. A trend toward formality and higher sheens began later that year with collections like the original Bob Mackie introduction at American Drew.
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Big Lots growing bigger in furniture
Columbus, Ohio— Big Lots is getting a lot bigger in furniture — to the tune of over $500 million in furniture and bedding sales this year. Already one of the bigger furniture retailers in the nation, the closeout specialist plans to add a net 145 furniture departments to new and existing stores this year, further reaping the benefits of one of its most profitable categories.
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Jordan's Furniture adds room planner to Web site
Avon, Mass.— A relative latecomer in embracing the Web as a way to reach consumers, Jordan's Furniture is upping the ante by adding a customized room-planning software tool to www.jordans.com. Salem, N.H.-based Hookumu developed the software, which allows customers to design, save and e-mail room plans, including dimensions and furniture placement.
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Jordan's touting deferred payments, prices in latest ads
Avon, Mass.— Metro Boston retail powerhouse Jordan's Furniture is offering deferred payments for the first time, and is advertising price for the first time in over a decade. In TV and radio spots that began running in February, the retailer touted its first 12-month no-payment, no-interest offer.
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Retailer scouting for suitable store site in Boston
Avon, Mass.— Jordan's Furniture hopes to add a store in the city of Boston and is looking for a suitable site. No timetable has been set. The idea for an in-town store sprung from an ill-fated attempt to take over a Lord & Taylor location in downtown Boston. Lord & Taylor ultimately renegotiated its lease with Boston Properties, the real estate company that now is searching the ci...
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Buffett backs off Burlington buy
Greensboro, N.C.— Berkshire Hathaway has withdrawn its $579 million cash offer to buy bankrupt textiles maker Burlington Inds. after a bankruptcy court nixed a $14 million break-up fee Berkshire wanted Burlington to pay if the deal fizzled. "It's unfortunate the break-up fee was not accepted by the court and the offer has been substantially withdrawn by Berkshire.
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Sangiorgio to show line in Green Drive building
High Point— Contemporary Italian case goods manufacturer Sangiorgio is putting the final touches on a new freestanding showroom at 501 West Green Drive here that will nearly triple its presentation at the April market. The building, which Sangiorgio purchased last year, gives the company 18,000 square feet, compared to 6,200 square feet in its former space in the International Home Furnis...
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WithIt seeks WOW award nominations
High Point— Women in the Home Industries Today, or WithIt, is accepting nominations for its annual WOW Awards, to be presented at the October market here. The awards honor outstanding individuals and businesses in the home furnishings industry. Nominations can be made in one of the following categories: To make a nomination or for more information, visit WithIt's Web site at www.
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DeSantis is exec VP at retailer Easy Life
Cerritos, Calif.— Bob DeSantis has joined California retailer Easy Life Furniture as executive vice president of merchandising and marketing. Formerly vice president of sales and marketing for the Midwest at leather upholstery maker Natuzzi, DeSantis oversees merchandising, marketing and advertising for the midpriced retailer.
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Aaron promotes Hanson, hires Leary in operations
Atlanta— Aaron Rents has promoted Bert Hanson to vice president, Mid-American operations at Aaron's Sales & Lease Ownership division. In the newly created position, Hanson, formerly a regional manager, will oversee operations of more than 75 Aaron stores in 10 Central states. "The rapid growth of stores within the Aaron's Sales & Lease Ownership division has made this new position...
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Ethan Allen to test kids store
Danbury, Conn.— Ethan Allen will soon test standalone kids stores in a move to make more space for its redesigned Ethan Allen Kids line. While the kids collection was designed as a store-within-a-store concept, many of the company's stores have limited space, said Ethan Allen Chairman and Chief Executive Officer Farooq Kathwari in a press release.
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Chapters support CHR fund
High Point— The Georgia and Florida chapters of the International Home Furnishings Representatives Assn. have donated $1,000 each to the scholarship fund for IHFRA's Certified Homefurnishings Representative course. The week-long CHR course, offered every February and August, is designed to meet the educational needs of the professional home furnishings sales representative.
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Business brisk at premarket
High Point— Premarket came earlier than usual this cycle, but even that apparently wasn't soon enough as retailers hit showrooms a day early. An early April market led most manufacturers to open for premarket on Monday, March 3, just a week after the Tupelo Furniture Market. Some, however, started seeing customers on Sunday.
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Limited assortment in leather
High Point— Leather upholstery manufacturers are hoping to woo retailers with a limited assortment at next month's market. HTL International had six new sofas at premarket last week and will add another 14 frame at market. With large-scale 95-inch frames, "We are going after a retro styling with grand scale and room to breathe," said Steve Barr, president of HTL USA.
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Contemporary uph. overtaking cottage
High Point— Retailers can expect to see less in cottage-style seating and a lot more contemporary upholstery at the April market. Contemporary was the main thrust of upholstery introductions at last week's premarket. While there was attic chic from Highland House, and relaxed transitional from Century, retailers saw a river of contemporary in every shape and size.
Opinion Today
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What makes the Tupelo market as good as gold
The Tupelo market really incorporates the best of two worlds: small enough to be manageable, yet large enough to be interesting. It's also a market I look forward to working. Part of the show's appeal is the ease with which I can navigate it. No elevators, no escalators, just a handful of buildings, all on one floor.
- Letters to the Editor
Ashley blazes multi-dimenstional trail
I think that was a great column Ray Allegrezza wrote (Furniture/Today, Feb. 24, page 64, "Standard writes the book on innovation, reinvention") about Standard's continued evolution and reinvention. But if you look at it more closely, it's more of a follow-the-leader story, in my opinion. Ashley has really set the bar high and forced more companies to get away from being a one- or two-category r...
People Today
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World Imports honors top reps
Edison, N.J.— Rich Silverman, a sales representative for the eastern Pennsylvania/New Jersey area, was presented the Salesman of the Year award at the annual awards banquet of World Imports Ltd. Silverman posted sales of $7 million for World Imports, an importer of home furnishings for the Northeast with a 400,000-square-foot facility in Philadelphia.
- People on the Move
People on the Move
Executives Pennsylvania House Lewisburg, Pa. — Dale Beagle has been appointed senior vice president of sales and marketing at Pennsylvania House. He reports to Tom Tilley, Pennsylvania House president. Beagle has been with the company for 22 years, in positions including field sales, senior sales and marketing management.
Special Report
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Roomful Express moving into bold, red-letter future
Pittsburgh— Dismissing all past associations with its previous incarnation as Freight Liquidators, the R.H. Kuhn Co. has unveiled its new Roomful Express prototype here, a bright and bold store that sells style and comfort at aggressive prices. The 60,000-square-foot store in The Pointe shopping district is the latest step up for the Kuhn company, which abandoned the Freight Liquidators h...
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Liquidating tired identity paying off
Pittsburgh— Four years ago, the retail concept was stale and sales were stagnant for the R.H. Kuhn Co., which was operating here as Freight Liquidators. "We were flat in sales for about three years, which is what triggered the consumer research with Britt Beemer," said Jack McGowan, chief executive officer.
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Bedroom a bargain thanks to imports
High Point— While master bedroom is one of the likeliest purchases for furniture shoppers this year, most retailers will have to sell more pieces than in years past to maintain revenue in the category due to downward price pressure from imports. According to Furniture/Today's latest Survey of Consumer Buying Trends, 5.
- A Special Report
Selection, value help pump up volume
High Point— With prices trending down in the mainstream of the bedroom market, it's more important than ever to pump up the volume. Brand names and the credibility of 41 years in business are key selling points at Lexington Furniture in Lexington, Ky., said Larry Wells, owner. "We talk quality first, price second, and tie those together for a value story," he said.
- Market Report
Brazil hopes styles, prices boost exports
Gramado, Brazil— Only a handful of U.S. buyers were at the fourth annual Salao do Movel, Brazil's high-end furniture show here. But the prospects for U.S.-Brazil furniture trade were a topic of constant discussion for exhibitors, especially among the larger companies who feel they have the wherewithal to do it.
- Market Report
25 companies team up to build U.S. business
Gramado, Brazil— A new organization of small furniture factories near here have joined to create a trading syndicate, hoping their collective strength will appeal to U.S. buyers. Made up of 25 companies Rio Grande do Sul, a state in southern Brazil, Sindmobil members hope to collaborate on sales, distribution and even production in order to win new U.
- Market Report
High-end show plans August edition in Sao Paolo
Gramado, Brazil— With their just-completed February show here fully booked, organizers of Salao do Movel are looking to launch a version of their high-end show to the larger city of Sao Paolo. More than 100 exhibitors have agreed to take space in the first winter edition of Salao do Movel, Aug.
Store Openings
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La-Z-Boy updates format in N.C.
Greensboro, N.C.— The La-Z-Boy Furniture Galleries store here has completed its conversion to the chain's new format. Art Clayton and Jewel Clayton are the owners of the revamped, 13,500-square-foot showroom.
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La-Z-Boy opens units in Ala., Wash.
Monroe, Mich.—–La-Z-Boy has opened two Furniture Galleries stores, in Alabama and Washington state. In Issaquah, Wash., a 20,000-square-foot store has opened on East Lake Sammamish Parkway. Pete Scroggs is the store's owner. A 23,500-square-foot La-Z-Boy Furniture Galleries has opened in Montgomery, Ala.
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Ethan Allen opens, renovates units
Danbury, Conn.—–Ethan Allen Home Interiors has opened a new store and renovated another in Ohio. In Strongsville, a new 15,000-square-foot store has opened on South Park Center on the perimeter of the South Park Mall. Cindy Jacoby is the store manager. In Worthington, Ethan Allen has renovated its 15,000-square-foot showroom on North High Street.
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Regal House has La-Z-Boy Youth area
New Bedford, Mass.—–Regal House Furniture has installed a 1,500-square-foot La-Z-Boy Youth Collection in its 25,000-square-foot store on Church Street here. Debra Holden is president of the family-owned and operated store and shares responsibilities with her brother, Steven Santos. Their father, Al Santos, is founder and consultant.
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Atrium Mall adds four stores
High Point—–The Atrium Furniture Mall on South Main Street here has several new stores. On the fourth floor is the 3,287-square-foot Leather and More. Owners Nelson Bell and Monique Dunn are offering such lines as Legacy International, Omnia Leather and Collezione Divani. Also on the fourth floor is A Land of Furniture.
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Costa Rican retailer installs 4,200-sq.-ft. England gallery
San Jose, Costa Rica—–International Furniture here has dedicated most of its 5,000-square-foot showroom to an England in-store gallery. The Custom Comfort Center is 4,200 square feet. The store is operated by the father-daughter team of Manuel and Michelle Rodriquez. International Furniture plans to add 5,000 square feet to the store this year.
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Diamond Furniture debuts 6th store
Egg Harbor Township, N.J.—–Diamond Furniture has opened its sixth store here, its third major expansion since October. The new 40,000-square-foot store is located on Black Horse Pike. In October, Diamond completed an addition to its Turnersville, N.J. store, and in November acquired an additional 28,000 square feet of warehouse space next to its 120,000-square-foot distribution center.
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Barrow unveils Lane gallery
Mobile, Ala.— Barrow Fine Furniture here has installed a 6,000-square-foot Lane Comfort Showcase Gallery in its 40,000-square-foot, full-line store. Tommy Northrup and Will Hall are the store owners, and Bobby Locklier is store manager. Barrow has nine other stores. Lane Home Furnishings is a subsidiary of Furniture Brands International.
Up Front
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Calif. regulator: Jan. 1 fire rules date 'not negotiable'
Las Vegas— A top California regulator told members of the futon industry last week that new open-flame mattress and futon standards will go into effect, as planned, on Jan. 1, 2004. "The date is not negotiable," said Lynn Morris, chief of the California Bureau of Home Furnishings and Thermal Insulation.
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BDO: Orders up 4%, shipments 2.5% in '02
High Point— A flat December left U.S. residential furniture manufacturers with modest gains for 2002, with orders up 4% for the year and shipments up 2.5% over 2001, according to BDO Seidman. There was a wide range of results among participants in BDO's factory survey, with slightly more than 55% experiencing increases in orders and 40% seeing shipments rise.
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Simmons buys 49 sleep shops
Atlanta— Bedding manufacturer Simmons Co. has boosted its retail presence with the purchase of 49 sleep shops from its parent company, Fenway Partners. The stores, which operate in the Portland, Ore., and Seattle markets as Sleep Country USA and Mattress Gallery, give Simmons a total of 108 stores.
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Intellitek appoints Bradford, former Dell exec, VP of sales
Omaha, Neb.— Furniture industry software provider Intellitek has hired a former Dell Computer executive, George Bradford, as vice president of sales. The position had been vacant for about a year and its duties have been redefined, the company said. Bradford, who will be based in Austin, Texas, reports to Wendy Shaffer, senior vice president.
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Trading Spaces, Cristina seek licensees
Miami— Two cable TV shows with fervent fan bases are seeking licensees in home furnishings, possibly including furniture and area rugs. Cristina Saralegui, host of the top-ranked Spanish-language talk show on the Univision network, is beginning talks with retailers and also may seek manufacturers to lend her name to products including home décor goods.
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Lane, Flexsteel join Vegas tenant roster
Las Vegas— Lane Home Furnishings and Flexsteel Inds. have announced they will lease showrooms in the planned World Market Center here. The manufacturers and importers are the latest of several majors that have said they're coming to Las Vegas, where groundbreaking is set March 21 on the 1.3 million-square-foot first phase of a home furnishings market complex.
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Corrections & Amplifications
Furniture/Today's March Leather Today supplement misidentified five photos.
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Lexington Home Brands closing Plant 12
Lexington, N.C.— Lexington Home Brands will close its Plant 12 here later this year and lay off as many as 350 workers because of the sluggish economy and the increased use of imports in its line, the company said. The company also said it already has laid off another 40 employees at headquarters here.
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Mattress chain exiting Ch. 11
Upper Marlboro, Md.— Mattress Discounters is set to emerge from Chapter 11 bankruptcy protection this week after a judge confirmed a reorganization plan that will pay most unsecured creditors about 14 cents for each dollar of their claims. The retailer, which now operates 107 stores in the eastern United States, said the plan was approved by nearly all its creditors.
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IHFRA to honor Ray, DeFehr at market
High Point— Veteran sales representative Charles Ray and Palliser leader Art DeFehr will be honored by the International Home Furnishings Representatives Assn. at a market event April 3. Ray will receive IHFRA's Harold P. Braun Distinguished Service Award and DeFehr will be named a Pillar of the Industry.
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OFMA taps Tepperman as top retailer
Mississauga, Ontario— Bill Tepperman, president of Tepperman's Furniture, has been named Retailer of the Year by the Ontario Furniture Manufacturers Assn. He will be honored at a dinner on June 6 in Toronto, just prior to the summer market. OFMA launched the annual award last year to recognize excellence in Canadian furniture retailing.
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Simmons names Ling to product innovation post
Atlanta— Simmons has created a new position to recognize a key executive on its product development team. Kurt Ling, formerly vice president of Beautyrest brand management, has been named vice president of product innovation. Ling, who played a key role in the development of Simmons' one-sided line of mattresses in 2000, the Olympic Queen bed, and an expanded line of luxury products, will...
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Confalone brothers get Leda president, VP posts
Toronto— Marco Confalone has been named president and chief operating officer of case goods maker Leda Furniture. Sergio Confalone, his brother, was appointed vice president, responsible for manufacturing, engineering and purchasing as well as the contract furniture division. Lino Confalone, the father, who founded the family-owned manufacturer of high-end bedroom, dining room and occasio...
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