Furniture|Today -- 05/12/2003
Bedding Today
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CPSC drops bombshell, but questions remain
The U.S. Consumer Product Safety Commission dropped a bombshell on the bedding industry the other day. The CPSC told us that it could take up to two years to resolve a legal issue with the state of California on mattress flammability. That could mean a two-year delay in implementation of California's proposed standards, which are (were?) to be effective Jan.
Business Today
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Bestar posts C$3.3M loss
Lac-Megantic, Quebec— Bestar, maker of ready-to-assemble furniture, finished 2002 with a 14.8% revenue decline and a net loss of C$3.3 million. Primarily serving national chains with flat-pack office furniture, the company posted revenues of C$50.4 million, a decrease of C$8.8 million from 2001.
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Bombay has big April gains; Pier 1, Havertys see declines
Fort Worth, Texas— The Bombay Company's same-store sales stayed in the stratosphere with an 18% gain in the April reporting period, leading to a 23% gain in total revenues to $37 million. In the fiscal first quarter, Bombay's same-store sales were up 25% and total revenues of $119 million were 31% ahead of last year.
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Dorel 1Q earnings jump 22.4% as sales rise 8.6%
Montreal— Ready-to-assemble furniture and juvenile products powerhouse Dorel Inds. said first-quarter sales were up 8.6% to $276.9 million as earnings advanced 22.4% to $19.2 million. The company recently acquired French juvenile product specialist Ampa Group, and the group's solid performance in Europe compensated for continuing softness in U.
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Financial results
Earnings per share are fully diluted, and all figures in parentheses are losses or declines.
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Culp cuts back fourth-quarter forecast
High Point— Fabric supplier Culp slashed its fourth-quarter earnings forecast last week, saying sales were running below expectations. Earnings for the quarter, which ended April 27, are expected to be 30 to 34 cents per share, down from previous guidance of 41 to 44 cents per share. Rob Culp III, chairman and chief executive officer, said softness in consumer spending on home furnishings...
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Acquisitions drive Masco sales gain
Taylor, Mich.— Helped by acquisitions and international business, Masco's sales grew 19% in the first quarter to $2.5 billion, the home products giant reported. North American sales, excluding acquisitions, rose 2%, a slower growth rate than usual, probably because of factors including bad weather that limited home construction, the Iraqi war and higher energy costs that ate into consumer...
Insider's View
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Perception not always reality in our industry
Sometimes we perceive things around us incorrectly. Often the important is less than obvious. Let's take a quiz about our industry and see if this is true. Check off your answers before you read on. Consumer purchases of furniture and bedding, regardless of type of retailer, were $66.696 billion in 2002, or 3.
News
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Boca Raton welcomes Robb & Stucky
Boca Raton, Fla.— Robb & Stucky hosted a vendor party this month to christen its newest location, an 80,000-square-foot former Jacobson's Department Store in this city's Mizner Park, an upscale retail and restaurant complex. Suppliers got a chance to check out the store's displays, including new concepts for Robb & Stucky such as the 5,000-square-foot Home section devoted to acces...
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WithIt extends deadline for WOW nominations
High Point— Women in the Home Industries Today (WithIt) has extended the deadline to May 23 for nominations for its annual WOW Awards, honoring outstanding individuals and businesses in the industry. The awards, to be presented at the October High Point market, include: To make a nomination or for more information, visit WithIt's Web site at www.
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N.Y.'s All Wood Furniture named top Keller dealer
Farmingdale, N.Y.— All Wood Furniture, a six-store chain based here, has won Keller Furniture's Dealer of the Year award for 2002. All Wood, a Keller dealer for more than 10 years, displays the manufacturer's collections in galleries and takes part in numerous Keller sales events. The chain, owned by Zvonko Crvencic, also has been involved in developing new Keller collections by participa...
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Keller offering retailers 30-day guaranteed delivery
Corydon, Ind.— Solid-wood case goods producer Keller has introduced a quick-ship program with guaranteed 30-day delivery. "We promise to deliver an active order within 30 days, or Keller pays the freight cost," said Steve Robertson, president and chief executive officer. The Keller 30-Day Commitment program covers the time between order receipt and when the order arrives at the store, not...
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Fourth-generation Price joins retailer Toms-Price
Bloomingdale, Ill.— Scott Price has joined high-end retailer Toms-Price Home Furnishings here as principal, becoming the fourth generation of the Price family in the 95-year-old business. A former investment banker with Salomon Smith Barney and the Goldman Sachs Group, Price will focus on growth and development for the retailer in greater Chicago as well as special projects, said David Pr...
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Broyhill closing case goods plant
Rutherfordton, N.C.— Broyhill Furniture says it will close its case goods plant here this summer because of reduced demand for its U.S.-made goods. The plant, built in 1965, has more than 575,000 square feet of space and employs 506 people. It will shut down July 5, said Dennis Burgette, Broyhill's president and chief executive officer.
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Corrections & Amplifications
Warren Rubin's affiliation with Workbench Furniture, Bayonne, N.J., was incorrectly reported in a story on page 2 of the May 5 issue. He left the company in 2001. Ken Peskin is president and chief executive officer.
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FR bedding still on tap
High Point— News of a possible two-year delay in adopting new mattress flammability standards in California hasn't slowed the bedding industry's preparations to introduce new fire-resistant bedding lines. California officials, bedding producers and suppliers of FR materials all say they are moving ahead, with some noting that a lengthy delay is not a certainty.
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Shermag to buy Jaymar
Sherbrooke, Québec— Major Canadian furniture maker Shermag said last week it would acquire Jaymar Furniture, a Canadian manufacturer of upper-midrange to high-end special-order leather and fabric stationary upholstery. Shermag President and Chief Executive Officer Jeff Casselman said the transaction should close by the end of May and would boost Shermag's profits.
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Badcock seeking multi-store dealers for new markets
Mulberry, Fla.— Pursuing partnerships with those who can operate several Badcock Home Furniture & more stores, W.S. Badcock Corp. has signed its first limited area development agreement, which gives a dealer the right to open multiple stores in a metro market. Terrell and Kathy Williams are the first dealers to sign such a pact, a common practice in franchising and licensing.
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NHFA phone seminar set for May 28
High Point— How retailers can turn complaints into profits will be a central theme of the next National Home Furnishings Assn. telephone seminar on May 28. David Duff of Duff Consulting will lead the discussion, which will teach retailers the principles of handling consumer complaints in ways that turn the complainers into repeat customers.
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ShanghaiTex postponed due to SARS
Shanghai, China— SARS has prompted postponement of the ShanghaiTex trade show here, first set for June 2–5, to Dec. 10–13. The municipal government of Shanghai and its Foreign Economic Relations and Trade Commission placed restrictions on exhibitions that led the Shanghai New International Expo Center to postpone all events.
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EPA recognizes AFMA for environmental efforts
High Point— The U.S. Environmental Protection Agency has named the American Furniture Manufacturers Assn. as a partner in the EPA's Performance Track Network, a program designed to recognize and encourage top environmental performers. The EPA said AFMA's EFEC program is an effective environmental management system, and will support the program by helping to promote the benefits of EFEC pa...
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DuPont taps McCracken
Wilmington, Del.— Longtime DuPont executive Steve McCracken has been named president of DuPont Textiles & Interiors, a subsidiary that makes fibers used in upholstery fabrics. McCracken has been group vice president of DTI, a unit that DuPont plans to divest this year, market conditions permitting, possibly through an initial public offering or sale to another company.
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Cox Mfg. expanding plant capacity by 40%
Hickory, N.C.— Upholstery producer Cox Mfg. has broken ground on a 100,000-square foot facility that will expand the company's manufacturing capabilities by 40%. The company plans to move in late fall to the new facility at Cline Industrial Park in Hildebran, about six miles from its present 70,000-square-foot plant.
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Rainbow Rentals founder Hendricks departs; Harris is promoted to COO
Canfield, Ohio— Larry Hendricks has resigned as chief operating officer and a director of rent-to-own operator Rainbow Rentals, the company said. S. Robert Harris, a Remco veteran who joined Rainbow in January as a regional supervisor, has been promoted to COO. Hendricks, one of Rainbow's founders, said the company's strong management team makes this "a good time for a transition" and sai...
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Brady-Proesch gets Jackson marketing post
Cleveland, Tenn.— Veteran marketing executive Pam Brady-Proesch has been named to a new marketing and merchandising post at upholstery resource Jackson Furniture Inds. She will work with Jackson and sister company Catnapper. Gary Harmon, Jackson's senior vice president of sales and marketing, said her duties include key account development, trend analysis, merchandising directions and the...
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Storm hobbles Lexington plant
Lexington, N.C.— Damage from severe weather the first weekend in May has forced Lexington Home Brands to temporarily shut down its Plant No. 2 case goods manufacturing facility here. Baseball-size hail breached a liner in the roof of the 750,000-square-foot factory, one of four Lexington plants.
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Jesper CEO leaves company
Jersey City, N.J.— Niels Jespersen has left Jesper Office, where he had been president and chief executive officer, and is starting a new company that will import Scandinavian-style office furniture from China. Operating as Jespersen USA, the new company will sell small office/home office furniture, using cherry, maple and birch veneers, to U.
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Natuzzi acquires British retail chain
Santeramo in Colle, Italy— Upholstery manufacturer Natuzzi has acquired the parent company of 15-store British upholstery retailer Kingdom of Leather. Natuzzi acquired London-based Castlegate 170 Ltd. from venture capitalist Barclays Private Equity for an undisclosed price. The stores, most of which are in England, will continue to operate under the Kingdom of Leather name.
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Gonella in marketing post at growing Butler Specialty
Chicago— Occasional specialist Butler Specialty has named Linda Gonnella director of marketing services. She has 14 years of marketing experience, most recently as a brand manager at Comdisco, where she managed initiatives that included print advertising, online advertising and direct marketing.
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Canadel building warehouse
Louiseville, Québec— Canadel is building a 50,000-square-foot warehouse here to handle components. The facility, set to open in September, will allow the casual dining producer to expand its oak offerings. The company has three lines: Canadel, Colorshop and Thomasville. Colorshop and Thomasville have been available in both solid oak and birch, said Jean Deveault, sales coordinator.
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Eddie Bauer taps Perinchief
Redmond, Wash.— Don Perinchief has been named divisional vice president, home and licensing, for Eddie Bauer. Perinchief, who had been the company's divisional vice president for licensing, assumes the duties of Harvey Kanter. Kanter left to become president of Los Angeles-based Aaron Bros. Perinchief reports to Fabian Mansffon, president and chief executive officer of the Spiegel Group d...
Opinion Today
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Sam Walton's business commandments still true
When looking for solid business advice, it's prudent to seek someone with a proven track record. I can't think of anyone better to learn from than the late Sam Walton. He intuitively knew what it took to consistently hit home runs in the retail ballpark. His book, "Sam Walton: Made In America, My Story," outlines his 10 commandments for retail success.
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Retailing can be more than sales tricks
Every so often we come across something that shows the world of retailing isn't totally consumed by no-no-no, midnight madness sales and other tricks. First, the June issue of House Beautiful magazine showcased the winners of its annual Giants of Design program. Among the winners: Adriana Scalamandre Bitter and Murray Douglas, both born into their families' prestigious design-driven fabric comp...
People Today
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Wolf elected president of NCBI
Memphis, Tenn.— Tony Wolf, president of bedding and upholstery manufacturer Wolf Corp. of Fort Wayne, Ind., has been elected president of the National Cotton Batting Institute. Also elected were Alan Posner of Jones Fiber Products, Memphis, as vice president, and Jim Blasius of InCide Technologies, Phoenix, as secretary-treasurer.
- People on the Move
People on the Move
Advertising Serta Inc. Itasca, Ill. — Bedding producer Serta Inc. has promoted several people in its advertising department. They are: Awards Foamex International Linwood, Pa. — Snyder Paper Corp. has named Wendy Colford, North Carolina sales representative for the Foam Products division of Foamex International, its Vendor Partner of the Year.
Special Report
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Entertaining-at-home trend stirs demand for wine storage
High Point— A trend toward increased entertaining at home has helped make wine cabinets and servers hot items in retail stores. Because of world issues, more families are staying in and entertaining guests at home rather than going out or taking trips, some manufacturers say. This is leading to an increase in sales for furniture such as home theater seating, larger casual dining tables an...
- Exclusive Survey
Midsized companies approach Top 25 status
High Point— New names on the Top 25 mean that some past fixtures have fallen off the list. Along with a few new or rejuvenated companies, they are among the midsized manufacturers that are contenders for the top tier. Leading the list in growth is DeCoro, a six-year-old manufacturer of leather upholstery whose sales to the United States jumped by $51 million last year, a 68% growth rate.
- Exclusive Survey
Who owns whom
Ashley Furniture Inds. Ashley Casegoods, Ashley Upholstery and Millennium Brown Jordan International Brown Jordan, Pompeii, Winston, Vineyard, Stuart Clark, Atlantis, Casual Living, Tradewinds, Charter, Lodging by Charter, Loewenstein, Texacraft, Tropic Craft, Wabash Valley, Woodsmiths and Molla Bush Furniture Bush-Rohr GmBh, Bush Viotedinik, ColorWorks, Fournier and Rohr Gruppe Century Furnitu...
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Cost controls, growth help profits rebound
High Point— Sales results might have been mixed, but earnings shaped up nicely last year for most of the publicly held manufacturers on the Top 25. Eight of the 14 companies posted double- or triple-digit gains in net income and operating earnings, and two others were back in the black after losses in 2001.
- Exclusive Survey
High end sales stalled last year
High Point— Last year was a low point for the high end. Sales were flat or down a bit for several manufacturers on the Top 25 and contenders lists that specialize in upper-end goods or have divisions that do. Bernhardt and Sherrill, longtime players at the high end, both had sales in 2002 that were just about flat with 2001, according to Furniture/Today estimates.
- Exclusive Survey
About this survey
Furniture/Today's survey of the Top 25 Furniture Manufacturers for the U.S. Market ranks companies according to 2002 furniture shipments to the United States. Manufacturers on the list sell into the U.S. market, regardless of whether they have manufacturing or assembling operations or corporate offices in the United States.
- Exclusive Survey
Top 25 growth appears to outpace industry
High Point— Combined sales for the Top 25 manufacturers came to $13.4 billion last year. Excluding two companies for which comparisons were unavailable in 2001, Berkline BenchCraft and Lacquer Craft, sales for the rest of the group grew 9.1%. Determining market share, however, is a challenge. The total amounts to about 53% of U.
- Exclusive Survey
Deal puts Furniture Brands on top
High Point— Big acquisitions, a big breakup and stellar growth by a few companies shook up the Top 25 manufacturers for the U.S. furniture market last year. Furniture Brands International emerged as the new top dog, with $2.3 billion in U.S. sales last year and $2.4 billion overall, including sales to Canada and other nations.
Store Openings
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BFD opens in Albuquerque
Albuquerque, N.M.— A 16,000-square-foot Bassett Furniture Direct store has opened on Carlisle Boulevard here, the first Bassett store in metro Albuquerque. Managing Partner Brett Etz and Operations Manager John Jones have over 16 years experience in the industry and own two full-line furniture stores in Arkansas and Utah.
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Ethan Allen adds three stores
Danbury, Conn.— Ethan Allen Home Interiors has opened three new stores. Emeryville, Calif., is home to a 15,000-square-foot store on Christie Avenue, at the end of the Bay Bridge. A 23,000-square-foot store has opened on Nesconset Highway in Setauket, N.Y. In Princeton, N.J., a 20,000-square-foot store has opened on U.
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Comfort Zone marks fifth store
Oklahoma City— Comfort Zone Mattress Stores, based in Enid, Okla., has opened its fifth store here on West Reno Avenue, the city's furniture row. The 12,000-square-foot store features bedding by Sealy, Simmons, Spring Air, Serta, Comfortaire, Kingsdown, Posture Beauty, Stearns & Foster, Chattam & Wells and Masterpiece.
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L.A. mfr. debuts showroom
Los Angeles— Upscale furniture manufacturer Cisco Brothers has opened a 35,000-square-foot, to-the-trade showroom in the L.A. Design Center. The 80,000-square-foot center, in the Chesterfield Square District, a center of furniture manufacturing, is built and managed by Cisco Brothers Development.
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Bassett unveils 4 units in 1Q
Bassett, Va.— Bassett opened four Bassett Furniture Direct stores in its 2003 first quarter. The St. Louis market now has a fourth BFD store. The freestanding, 16,000-square-foot unit is owned by Mike Wilson and Tony Schneider. In metro Seattle, a second BFD has opened. Owner Jim Copitzky operates a 17,475-square-foot store in Redmond.
Up Front
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Starnes named president of uph. maker Taylor King
Taylorsville, N.C.— Upholstered seating producer Taylor King has named industry veteran Del Starnes as president. He replaces Thomas E. Zaliagiris, who left to pursue other interests. Starnes comes to Taylor King from MotionCraft, a division of Sherrill Furniture, where he was chief operating officer for seven years and was responsible for product development, merchandising and manufactur...
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Cone names Bakane chair
Greensboro, N.C.— Fabric supplier Cone Mills has named its president and chief executive officer, John Bakane, to the additional post of chairman to replace the retiring Dewey Trogdon. Trogdon, chairman since 1981, will remain a director until the 2004 annual meeting, when he will be at mandatory retirement age.
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Schweiger taps Prochaska
Jefferson, Wis.— Barry Prochaska, a 21-year industry sales veteran, has been named to the new position of national sales manager for mid-priced upholstery maker Schweiger Upholstery, a division of KCS. He reports to John Buckman, vice president of sales and marketing. Prochaska was vice president of sales at Sels Inc.
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Bolton joins Collezione
Englewood, N.J.— Amanda Bolton has joined Collezione Europa as a marketing manager for its occasional division, Collezione Europa Accents. Bolton held similar titles at La Barge and Maitland-Smith. In her newly created position, she is responsible for product development and working with the sales staff to expand the category.
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Sealy, ChairWorks team up
Trinity, N.C.— Bedding giant Sealy has teamed up with office seating major ChairWorks to develop a line of chairs called The Sealy Seating System. The line, which will begin shipping in August, is targeted toward furniture and department stores in the United States and Canada. ChairWorks previewed the line with retailers at last month's High Point market.
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Shaw acquires Georgia Tufters
Ringgold, Ga.— Shaw Inds. has acquired Georgia Tufters, a producer of tufted bath and scatter rugs. The company will operate as part of the Shaw Rugs division and will continue its manufacturing operations in Calhoun, Ga. Georgia Tufters' majority owners were Jeff Brown and Fredrick Brown; they and the rest of the management team will continue to run the company.
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Culp sticks with China plan despite spread of SARS
High Point— Despite the spread of SARS, Culp isn't changing its schedule for ramping up an operation in China to manufacture, finish, cut-and-sew and distribute upholstery and decorative fabrics. But the company has decided "to wait until they get their arms around the problem — a 30- to 45-day delay — before we send people to China," said Ken Ludwig, senior vice president of ...
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Delgatti new chief at Clayton Marcus
Hickory, N.C.— Longtime Broyhill Furniture veteran Mike Delgatti has been named president of midpriced upholstery manufacturer Clayton Marcus. He succeeds Ken Church, who recently was named president of upholstery maker Southern Furniture of Conover. Delgatti reports to John Case, president of the upholstery group for La-Z-Boy, parent company of Clayton Marcus.
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Latex Foam: Fired up to grow
Shelton, Conn.— One year after relaunching its business at a newly rebuilt factory here, Latex Foam International has boosted its mattress production by 20% and is preparing to roll out a new latex foam targeting somewhat lower retail price points. The company, North America's only producer of latex foam mattresses and pillows, sees 2003 as a year to make significant gains in the marketpl...
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Lexington sets Oct. launch of outdoorsy Woolrich line
Woolrich, Pa.— Lexington Home Brands will introduce in October a furniture line licensed through outdoor apparel and accessories specialist Woolrich. The collection of case goods, occasional and upholstery, to debut at the High Point market, is the first license for the new Home Division the 173-year-old Woolrich announced in March.
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Veteran retailer Harry Kahn dies
Montgomeryville, Pa.— Harry Kahn, an industry veteran who opened one of the first Ethan Allen stores and founded Jonns Contemporary Interiors here, has died of complications from cancer. He was 88. Part of the fourth generation in his family's store, Kahn's Furniture in Philadelphia, he took over the business in his early 20s after his father's death.
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