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Furniture|Today -- 06/23/2003
Bedding Today
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Winners include Sealy, Simmons, Spring Air
Sealy, Simmons and Spring Air are the three biggest winners in our latest market share report on conventional bedding, which appears elsewhere in this issue. Each of those companies outperformed the industry average of 3.8% dollar growth, thus gaining market share in what was a difficult year for the bedding industry.
Business Today
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Shermag posts 18.7% sales gain for year
Sherbrooke, Quebec— Canadian major Shermag has reported record results for its latest fiscal year ended April 4, 2003. Net revenue was C$181.3 million compared to C$152.8 million a year ago, while net earnings more than doubled to C$1.20 per share, fully diluted, this year. Jeff Casselman, president and chief executive officer of the full-line producer, attributed this solid performance t...
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Pier 1 posts 14.1% net income decline
Fort Worth, Texas— Specialty retailer Pier 1 Imports reported a 14.1% drop in net income in its first quarter as bad weather, a weak business climate and global political issues curbed consumers' shopping enthusiasm. Net income in the quarter ended May 31 dropped to $19.1 million from $22.2 million in the same period a year ago.
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Bestway revenues up, profits down
Dallas— Revenues rose 9.4% in its third quarter for rent-to-own player Bestway, but profits were down because of continued higher investments in human resources and advertising, the company said. Same-store revenues climbed 11.3% in the quarter. Offsetting that growth was a decrease in revenues with the consolidation or sale of 14 stores last year.
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L&P trims second-quarter sales forecast
Carthage, Mo.— Components supplier Leggett & Platt has trimmed its second-quarter earnings forecast by five cents per share, largely because of weak sales. L&P previously had said sales would be down 1% to 6% from a strong second quarter in 2002, but now expects a greater decline. Through the first 10 weeks of the quarter, it said sales were down 7% from a year ago, including a 6%...
Insider's View
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Holliman speaks out on the true costs of imports
I doubt anyone has ever accused Mickey Holliman of being satisfied with the status quo. Beginning 31 years ago when The Lane Co. acquired two-year-old Action Inds., Mickey and Bo Bland set a growth pace that was hard to believe. When furniture sales were weak, they showed gains; when business was good, they showed huge gains; and in the years when everyone agreed it would be impossible to beat ...
News
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New rules protect textiles
Washington— The federal government has published rules to protect the U.S. textile industry from Chinese imports, something domestic textile makers have been awaiting for nearly a year and a half. "If this safeguard is not used quickly and comprehensively, it will mean disaster for this country's textile and apparel workers," said Parks Shackelford, president of the American Textile Manuf...
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Cape Craftsmen adding Dick Idol accents
High Point— Cape Craftsmen will launch a Dick Idol-designed decorative accessory collection at the Atlanta International Gift And Home Furnishing Market, July 8–17. The newest Idol licensee will make tabletop accessories and accent pieces inspired by the outdoor personality's passion for nature, antiquities and art, said Tina Livengood, director of licensing and marketing for Dick I...
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Ekornes moves to larger headquarters
Somerset, N.J.— Ekornes, a Norwegian manufacturer of upper-end reclining chairs and sofas, has moved its U.S. headquarters here to a building twice the size of its former home. In addition to providing more warehouse space, the 100,000-square-foot facility includes a sales training area known as Ekornes School, as well as a showroom that will display the complete Ekornes product line.
- Obituaries
Retailer William Muenchen
Naples, Fla.— Retired retailer William Muen-chen died here Feb. 28. He was 68. He founded the Wm. Muen-chen Furniture Co. in Cincinnati in 1965, serving as chief executive officer until he retired in 1985, when son Stephen Muenchen took ownership of the company. Grandson Stephen Muen-chen Jr. joined the business two years ago, and the name was then changed to Muen-chen Furniture Express.
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Calligaris doubling Calif. facility
High Point— Contemporary case goods resource Calligaris USA plans to double the size of its West Coast distribution center in San Leandro, Calif., from 5,000 to 10,000 square feet. The move is a response to the growth of the Italian case goods maker's business on the West Coast. The expansion, to be completed by July, will allow Calligaris to grow its two-week quick-ship program.
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Mini peps up Storehouse spirit
Atlanta— Beegee Tagliaferri, Southern district manager for retailer Storehouse, is driving in style thanks to a new sales incentive. For the next four months, Orlando, Fla.-based Tagliaferri gets to drive a fire-engine red Mini Cooper car emblazoned with the Storehouse logo. Each quarter, the Mini's keys are given to the Storehouse district manager with the best quarterly results, and she...
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Gardner White goes live with Storis' iCall
Parsippany, N.J.— Top 100 store Gardner White has gone live on Storis' iCall Voice Delivery software, which converts Storis' delivery schedules into human voice messages and informs customers when to expect merchandise via an automated call process. "Because of iCall we have been able to improve our delivery operations while reducing our overhead expenses," said Ruth Kahn, co-owner of the...
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Rustic Crafts becomes RCI
Scranton, Pa.— Electric fireplace and wood products manufacturer Rustic Crafts International has changed its name to RCI Wood Products. Kevin L. Sheard, the company's president, purchased RCI last year from former owner and operator Stewart Cornwell. RCI Wood Products retains the trade name Rustic Crafts.
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ADL honors Child, Darrow
New York— Nearly 500 industry members and friends raised more than $600,000 at an event here to honor Bill Child, chairman of Salt Lake City-based retailer R.C. Willey, and Kurt Darrow, president of La-Z-Boy Residential. Child and Darrow received the 2003 American Heritage Award from the National Interior Furnishings and Design Division of the Anti-Defamation League.
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Furniture Factory hosts mini-market at plant
Lebanon, Ore.— Retailers from the Pacific Northwest visited promotional case goods and bedding producer Furniture Factory here for an open house and mini-market June 2–3. To host the market, Furniture Factory teamed with other manufacturers, including Furniture by Forest, Best Chairs, Madison Furniture and Oakcraft.
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Profitsystems adds Trax sales system
Colorado Springs, Colo.— Profitsystems has developed seamless software integration with the Trax sales-team automation program. With data from the Trax electronic sales management system, retailers using Profitwindows software will have information and reports on individual and team sales performance incorporated into their operating system.
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Johnston Casuals looks to 'steel' further growth
North Wilkesboro, N.C.— Many producers have struggled in a tough economy, but 49-year-old Johnston Casuals here is going strong and looking for more growth with its steel casual dining furniture. "We sell a lot of dinette stores that don't go to High Point," said President Joe Johnston, especially stores in the San Diego and Seattle areas.
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AFMA dons marketing hat
High Point— Getting the right message across for a proposed multimillion-dollar ad campaign is so important that members of a blue-ribbon subcommittee of the American Furniture Manufacturers Assn. are going to do it themselves. "We not only are heading this, but we are the workers," said Farooq Kathwari, chairman and chief executive officer of manufacturer-retailer Ethan Allen and AFMA ch...
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New Spring Air facility feels 'Just Right'
Elk Grove Village, Ill.— The nation's fastest-growing major bedding producer last week dedicated a new headquarters building here that executives say will enable the company to continue gaining market share. Spring Air officials said their 47,000-square-foot facility here, just a few miles west of O'Hare International Airport, is in a location "that feels 'Just Right.
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GNYHFA salutes Fineman, Mehran, Cory
New York— The annual golf and tennis outing last month sponsored by the Greater New York Home Furnishings Assn. also was the venue for the presentation of the group's annual service awards. Seymour Fineman of New York's Fineman Furniture won the 2003 Meadoff Award for Sportsmanship. Gail Meadoff of Apropos presented the award, which recognizes lifestyle behavior, not a single sporting act...
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N.Y. Boy Scouts council honors Audis
Manlius, N.Y.— Alfred and Aminy Audi, owners of full-line high-end furniture manufacturer L.&J.G. Stickley, have been honored with citizenship awards. The Hiawatha Seaway Council of the Boy Scouts of America presented them with the 2003 Distinguished Citizens Award, citing their approach to business, their involvement in the Central New York community and their service as role models ...
Opinion Today
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How retail salespeople often drop the sales ball
Last night, after listening to the ravings of a neighbor just back from a day of furniture shopping, I became more convinced than ever that the salesperson is the absolutely critical, but often missing, link in making a sale. My neighbor set out to buy a new mattress for the master bedroom and a new leather sofa and matching loveseat for the family room.
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What do designer names really mean?
In the landscape of licensing, where the most recent marquee entry into home furnishings is the luxury apparel design conglomerate Gucci, one wonders what all these names really mean to consumers. There are the obvious headliners, but looking beyond those that have a marketable track record in their primary field of design or notoriety, there is growing concern that, in furniture and rugs espec...
People Today
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Jervis promoted at Crestmont Fabrics
Hauppage, N.Y.— Stewart Jervis has been promoted from corporate sales to vice president of sales at Crestmont Fabrics, a new post. Jervis, who continues to report to Paul Harris, chief executive officer, is heading an expanded sales team. Mark Stein, formerly of Lanscot-Arlen, has joined the company in the new position of regional sales manager for the Northeast.
- People on the Move
People on the Move
Executives The Robert Allen Group New York — Marion Murray will join fabric supplier The Robert Allen Group in July as vice president and head of the New York studio. Murray has been director of design for fabric supplier P/Kaufmann's Bloomcraft division and the company's outdoor fabric line. P/Kaufmann has not yet named a replacement.
Special Report
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Sealy posts another strong year in 2002
High Point— Bedding sales leader Sealy posted another strong year in 2002 and boosted its market share over several rivals, according to Furniture/Today's exclusive survey of the Top 10 bedding producers. Meanwhile, No. 4 Spring Air posted the biggest sales gain among the major producers, and King Koil pulled ahead of Therapedic for the No.
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High-end Sealy, Spring Air brands enjoy double-digit sales increases
High Point— High-end brands marketed by Sealy and Spring Air enjoyed double-digit sales gains last year, while Serta's high-end brand lost ground. Those are the highlights of a close look at the major brands in the portfolios of three of the industry's four largest producers. The big news at Sealy was a phenomenal year registered by the Stearns & Foster brand, up an estimated 20% to $...
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Producers share views on sales performance
High Point— By their own accounts, leading bedding producers enjoyed solid years in 2002. All of the Top 10 producers reported sales increases last year, ranging from a modest 0.3% gain at Serta to a stellar 12.1% increase at Spring Air, according to the companies themselves. (Furniture/Today's estimate put Spring Air's gain at 9.
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About the numbers
High Point— This exclusive special report reaffirms Furniture/Today's commitment to take a conservative approach in presenting bedding sales and market-share data. Furniture/Today asked about 20 bedding producers to give us audited or accountant-verified figures on their net 2002 bedding sales.
Store Openings
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Bassett store opens in Middletown, N.J.
Middletown, N.J.— Bassett has opened a 14,500-square-foot Bassett Furniture Direct store here on Route 35, its first in Mon-mouth County. The store is owned and operated by the Sheitelman family. Jerry Sheitelman, the father, is acting as a consultant to his sons, Eric, general manager, and Mitchell, operations manager.
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Bernie & Phyl's superstore in final phase
Nashua, N.H.— Top 100 store Bernie & Phyl's Furniture has broken ground on the final phase of construction of its 86,000-square-foot superstore on Daniel Webster Highway here. Phase one of the project, with 40,000 square feet of retail space, was completed in November 2002. The additional 46,000 square feet of retail space is expected to be completed by the end of the year.
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Designer Gallery store debuts in Florida
Wellington, Fla.— Contemporary home furnishings retailer Designer Gallery has opened a store here at The Shops at Wellington Green on Forest Hill Boulevard. The 7,500-square-foot store is managed by Ty Cherry. Ken Krupp, president and founder of Designer Gallery, said, "My goal is to provide high-quality contemporary furnishings and accessories from the world's cutting-edge designers.
Up Front
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NeoCon spirit rises
Chicago— While the number of attendees was down, the office furniture industry spent a spirited couple of days here last week at the annual NeoCon office furniture show at the Merchandise Mart. While the two-year depression that has driven industry sales down by more than 40% continues, enthusiasm prevailed, bolstered by the whiff of a hint that the worst may be past.
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IHFMA teaming with PART for market transportation
High Point— The International Home Furnishings Market Authority has formed a partnership with a regional transportation alliance that could result in, among other things, free airport shuttles for market attendees. The exact scope of the partnership with the Piedmont Authority for Regional Transportation, or PART, depends on the amount of money PART gets from the North Carolina Department...
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Textile groups lobby for trade protection
Washington— Facing what they see as a life-or-death struggle with U.S. trade policies, representatives of the six largest American textile and fiber trade associations have launched an aggressive joint lobbying campaign. The American Textile Manufacturers Institute, the National Cotton Council, the National Textile Assn.
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Hickory Chair, Sterling Square move to Henredon
Hickory, N.C.— Full-line, high-end manufacturer and importer Hickory Chair, formerly operating under Thomasville Furniture Inds., now reports to Henredon Furniture Inds. Furniture Brands International, parent company of Thomasville and Henredon, made the change because of Hickory Chair's closer identity to Henredon in terms of product focus, customer base and price points.
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Bernie & Phyl's opening seventh store
Norton, Mass.— Bernie & Phyl's Furniture will open its seventh store this August in Raynham, Mass., filling in a gap in its Boston-area penetration. The family-owned, midpriced retailer acquired a former Ames department store building on Route 44 southwest of Boston for $2.6 million and will convert it to a 55,000-square-foot superstore, said Bernie Rubin, president, and co-founder of...
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Storehouse debuts Sanctuary collection
Atlanta— A three-city party heralded the introduction of the newest collection from Storehouse. Unveiled simultaneously last week in Atlanta, Dallas and Houston, the Sanctuary collection of case goods and upholstery represents Storehouse's further expansion into transitional and traditional styles, expanding beyond its casual contemporary roots.
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Costco considering more Home stores
Issaquah, Wash.— Six months into its trial with a home furnishings store, Costco is exploring real estate opportunities for additional Costco Home locations, but the membership-warehouse giant has not yet committed to expanding the concept. "We are investigating sites on the West Coast," said Doug Schutt, senior vice president.
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El Dorado gets chamber honor
Miami— El Dorado Furniture has won the Greater Miami Chamber of Commerce's ninth annual Cutting Edge Award, in recognition for its innovative marketing and management and brisk growth last year. "What impressed me about El Dorado is they came into an old industry and established more than a niche," said Basil Bernard, who participated in nominating El Dorado for the award.
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Sumter taps Hollomon
Sumter, S.C.— Solid-wood case goods manufacturer and importer Sumter Cabinet has named veteran executive Jim Hollomon as vice president of sales and marketing. He replaces Bill Utley, who left the company earlier this year. Hollomon reports to Dennis Ammons, president. Most recently, Hollomon was North American agent for Boxmark World Leather of Austria.
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Ethan Allen debuts format
Alpharetta, Ga.— Ethan Allen, as part of its spring dealer meeting here last week, unveiled its latest retail format. At 35,000 square feet, the new store is about twice as large as most of the chain's 300-plus existing stores. Displays include the new Ethan Allen Kids collection and a new case goods collection, New Country by Ethan Allen.
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Thomasville closing another N.C. plant
Thomasville, N.C.— Thomasville Furniture Inds. said last week it will close its 410-employee Plant H case goods factory in Winston-Salem, N.C., in October. Production at the 400,000-square-foot facility, which makes bedroom and dining furniture, will shift to other Thomasville plants or to offshore facilities.
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Fabric agency renamed
Hickory, N.C.— The Purcell Letchinger Group, an agent for European fabric mills, has been renamed Purcell International Textile Group. Owner Andrew Purcell said the new name is the latest in a series of strategic changes he has implemented to ensure quality and service since purchasing the company in 2000.
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