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Furniture|Today -- 08/18/2003
Bedding Today
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A way to boost sales of fire-resistant mattresses
This week I present a modest proposal: Let's use improved mattress flammability as an opportunity to sell more mattresses. That sounds like a pretty obvious idea, but you would be surprised at how many people see flammability as nothing more than a problem to be dealt with. "I usually try to see the opportunities in every situation, but I just don't see them here," one producer told me the othe...
Business Today
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Simmons sales jump 21.7%
Atlanta— Despite a soft economy and a sluggish mattress industry, bedding major Simmons Co. said second-quarter sales jumped 21.7%. The company said the quarter was a strong one for its wholesale bedding operations, which account for the vast majority of revenues, as well as its 104 stores in the western United States.
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Dorel posts 2Q sales uptick of 10.3%
Montreal— Dorel Inds. said second-quarter sales rose 10.3% to $264.7 million as earnings increased 9.2% to $16.3 million. The Canadian home furnishings and juvenile products giant, which has extensive operations in the United States and Europe, reports results in U.S. dollars. For the first six months, sales increased 9.
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Simmons retains adviser to sell 104 Western stores
Atlanta— Simmons has retained a financial adviser to help expedite the sale of the 104 mattress stores it owns in California, Oregon and Washington. Bill Creekmuir, chief financial officer, said the company has hired the Los Angeles office of Duff & Phelps to assist with the sale. During a conference call with securities analysts, he said Simmons hopes to have all the stores sold by t...
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Sleep Country Canada's revenues rise 4.3% in 2Q
Toronto— Sleep Country Income Fund, parent of bedding retailer Sleep Country Canada, said second-quarter revenues rose 4.3% to C$36.6 million as earnings before interest, taxes, depreciation and amortization, or EBITDA, grew 5% to C$4.5 million. This country's largest bedding chain was acquired by the fund from Bain Capital earlier this year and became a publicly traded income trust on Ap...
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La-Z-Boy sales drop 9.2%
Monroe, Mich.— Citing lackluster demand for its upholstery and wood furniture, La-Z-Boy said sales dropped 9.2% in its first quarter. The second-largest U.S. furniture producer also reported a sharp drop in net income, not including a one-time accounting charge. "It was a very challenging quarter.
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Flexsteel sales dip 2.6% in 4th qtr.
Dubuque, Iowa— Upholstery maker Flexsteel Inds. said sales in its fourth quarter dipped 2.6% from the prior year's period but were up 4.4% for the fiscal year. Net income for the quarter slipped 4.2% but jumped 46.5% for the year. Sales for the quarter ended June 30 were $74.9 million, compared to last year's $76.
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Berkshire's furniture stores post small gains
Omaha, Neb.— Berkshire Hathaway said its home furnishings and jewelry retail operations posted modest gains in revenues and pretax earnings in the second quarter. Revenues for the business segment — including furniture retailers Nebraska Furniture Mart, R.C. Willey, Jordan's, Star and Homemakers — came to $498 million in the period, up 2.
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Financial results
Insider's View
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Doing smart business in this age of firsts
These are times filled with important firsts. It seems like we see another first every day. Some we don't understand, like why, in 2003, the average consumer spent more on Father's Day ($99.65) than on Mother's Day ($97.37) for the first time. Your guess is as good as mine. In 2002, sales of digital cameras surpassed 35mm cameras for the first time, even though only 20% of U.
News
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Textile execs plan grassroots efforts against Chinese imports
Greensboro, N.C.— Swamping mailboxes, fax machines and e-mail addresses in Washington with letters from textile workers is one of several grassroots initiatives outlined by more than three dozen textile executives who met here last week to keep pressure on the Bush administration to help protect the domestic industry from Chinese imports.
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Natuzzi consolidates sales regions
High Point— Natuzzi Americas has restructured its sales force by consolidating six sales territories into four. The Italian upholstery giant has eliminated the regional vice president positions held by Les Herman in the South and Alex Cavotti in Latin America. Both executives have left the company, said Fred Starr, president of Natuzzi Americas.
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Robert Allen Group set to grow
New York— The new owners of The Robert Allen Group see the multi-faceted home furnishings resource hitting the billion dollar mark in the next decade, four times its current revenues, with much of that growth coming in furniture. Ron Cordover, chief executive officer, and his son, Jeff Cordover, president, owners for about a year, are taking a long-term view but moving ahead quickly.
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La-Z-Boy honors top dealer stores
Las Vegas— La-Z-Boy honored its top-performing La-Z-Boy Furniture Galleries at the company's conference here for owners of its freestanding proprietary stores. The awards were based on 2002 shipments. "These awards are our way of saying thank you to some of the people that help make our company one of the most successful in the industry," said Ken Salm, vice president of sales for La-Z-Boy.
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NHFA sets 'Advertising Boot Camp' for Nov. 9
High Point— The National Home Furnishings Assn. will conduct an "Advertising Boot Camp" for retailers who want to build sales. The one-day program, set for Nov. 9 at the Westin Diplomat Hotel in Hollywood, Fla., will bring participants up to date on creative media strategies that attract shoppers and increase sales.
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China prices rising?
Greensboro, N.C.— If successful, the proposed antidumping petition targeting wood bedroom furniture from China could lead to preliminary duties as early as next spring. That could affect the pricing of goods exhibited at the October furniture market if those products arrive in the United States after the duties are imposed.
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Flexsteel buying DMI
Dubuque, Iowa— Upholstery producer Flexsteel Inds. has agreed to acquire manufacturer and importer DMI Furniture for $44 million, including $27 million in assumed debt. The sale, approved unanimously by both companies' boards of directors, is expected to be completed in September. Flexsteel will pay $3.
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AFMA embraces multi-divisional approach
Savannah, Ga.— The American Furniture Manufacturers Assn. is trying to better communicate the depth and breadth of programs it offers its member companies and to the industry at large. Steve Kincaid, this year's AFMA president and chief executive at Kincaid Furniture, briefed AFMA's first multi-divisional annual meeting, which brought together the information technology, manufacturers, su...
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Manufacturers, retailers hook up on Internet
Savannah, Ga.— A survey by the Information Technology division of the American Furniture Manufacturers Assn. indicates growing rates of Internet-enabled connectivity among furniture manufacturers and their dealers. The IT executives of about 200 manufacturers were polled, with some 40 responding, representing an estimated $7 billion in annual sales.
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Golf balls to rain at Tupelo
Tupelo, Miss.— Visitors to this week's Tupelo Furniture Market have a chance to win $5,000 in a contest benefiting the City of Hope Cancer Center. As many as 5,000 golf balls will rain from the sky outside Lane's Verona Plant at 7:30 a.m. Saturday morning, Aug. 23, from a crane provided by Jesco.
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Gabberts drops effort to buy Arizona's Ladlow's
Edina, Minn.— Gabberts has decided not to buy Ladlow's Fine Furniture in Scottsdale, Ariz., and will focus instead on its existing Texas and Minneapolis markets. The Top 100 upscale store said in April it was negotiating to acquire the one-store Ladlow's and hoped to come to terms in three or four months.
- Obituaries
Obituaries
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Rose Hill unveils RTA upholstery in Tupelo
Tupelo, Miss.— Upholstery manufacturer and case goods importer Rose Hill is unveiling ready-to-assemble upholstery at this week's Tupelo market. The company said the program, called SofasToGo, features a user-friendly lock-and-pin system that doesn't require tools to assemble and that can adapt to any design.
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DuPont talking to Koch on sale of textiles unit
Wilmington, Del.— DuPont said it is negotiating the possible sale of its Textiles & Interiors unit to subsidiaries of Koch Inds. The DTI unit includes its nylon, polyester and Lycra fiber businesses. In April, DuPont said it was in preliminary negotiations to sell DTI but did not name the potential purchaser.
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Canadian wood producers want level playing field
Ottawa— Canada's three largest wood bedroom producers — Palliser, Shermag and Durham — are supporting the American Furniture Manufacturers Committee for Legal Trade's antidumping crusade in hopes of creating a level playing field in North America. For all three, sales to U.S. retailers represent the bulk of their business, and top executives say they need to protect their siza...
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Retailer views mixed on antidumping effort
High Point— The same day Vaughan-Bassett chief John Bassett was talking about duty to country and urging industry suppliers to help pay for antidumping efforts against Chinese bedroom furniture, retailer Jake Jabs offered his own take on the move. "It's a bunch of old North Carolina has-beens crying over spilt milk.
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La-Z-Boy wood companies support antidumping effort
Monroe, Mich.— Add several of La-Z-Boy's case goods divisions to the companies supporting the antidumping petition targeting wood bedroom furniture from China. Jerry Kiser, president and chief executive officer, said several La-Z-Boy wood divisions will join the American Furniture Manufacturers Committee for Legal Trade's petition effort.
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Suppliers urged to support petition
Greensboro, N.C.— The American Furniture Manufacturers Committee for Legal Trade appealed for financial support of its antidumping petition at a meeting here last week that drew over 450 people from 354 companies supplying U.S. case goods makers. Initial response has been encouraging, said Doug Bassett, vice president at Vaughan-Bassett, although he wasn't ready to release figures late la...
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Trade panel sets Web site
Greensboro, N.C.— The American Furniture Manufacturers Committee for Legal Trade is creating a Web site to support its campaign against wood bedroom furniture from China. The site, www.legaltrade.us, should be operational this week. It will contain information on the committee's position along with updates on the progress of its petition claiming Chinese-made bedroom furniture is being du...
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Aaron Rents buys 15 franchisee stores in Texas
Atlanta— Aaron Rents has acquired 15 of its Aaron's Sales and Lease Ownership stores in Texas from franchise holders DPR Investments Ltd. and DPR Partnership Ltd. Aaron said it paid $17.5 million in cash for the stores, which have annual revenue of about $19 million. Five of the stores are in El Paso, and others are in Killeen, McAllen, Laredo, Wichita Falls, Brownsville, Harlingen, Victo...
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ABC's Coles discussing buyout of other's interest
New York— Paulette and Evan Cole, the principal owners of ABC Carpet & Home, are in discussions regarding one of them buying the interests of the other in the Top 100 store. Paulette, who had been away from daily management since 2001, has returned as co-president and interim chief executive officer, and will have operational authority during the negotiations, according to an announce...
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AFMA divisions mingle
Savannah, Ga.— The first multi-divisional meeting in the American Furniture Manufacturers Assn.'s new meeting format was held at the Westin Savannah Harbor Resort here earlier this month, bringing together four AFMA divisions. Some 150 executives from the manufacturing, suppliers, information technology and purchasing divisions gathered in this port city to discuss, among other things, im...
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Macy's West shows off Oscar
San Francisco— More than 350 customers came to an invitation-only party for the retail launch of the Oscar de la Renta furniture collection from Century at Macy's West here. The designer, known for his women's clothing and fragrances, was interviewed by Diane Dorrans Saeks, PaperCity interior design editor, during the event.
Opinion Today
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Two readers speak out on a polarizing issue
Ever since the American Furniture Manufacturers Committee for Legal Trade announced plans to file an antidumping petition against wood bedroom furniture from China, we've received a flood of reaction from readers. The petition, and the forthcoming rebuttal by the Chinese factories and allied importers, has polarized the industry as never before, and with good reason: jobs, fortunes and future l...
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Alternative retailers are on a roll
Yours truly has been immersed for some time in the Top 25 retailer rankings for furniture and bedding, and there are at least two things that stand out. The first is that 12 of the 25 top furniture retailers in this country are not what the marketplace generally considers "conventional" furniture retailers, by which we mean traditional full-line furniture stores.
People Today
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Drexel taps Leander for new post
High Point— Drexel Heritage has promoted Triche Leander to the new post of vice president of business systems and planning, a move to align the company's information technology and business systems with its strategic objectives. Previously director of sales and operations planning/forecasting for case goods, Leander will be responsible for Drexel Heritage's IT department and will continue...
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Lane promotes Herman to merchandising post
Verona, Miss.— Lane Home Furnishings has promoted Michael Herman to associate merchandise manager for its motion furniture and stationary upholstery categories. He had been Lane's sales representative in Oklahoma for about four years. Herman will assist Gentry Long, merchandise manager for the motion and stationary categories, with product development, the sales force, marketing and growi...
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Zeber heads Atlanta store design firm
Atlanta— Cliff Zeber has been named president of Altered Spaces, a store planning and merchandising consulting firm here. He was director of merchandising at retailer Beverly Hall Furniture Galleries in Atlanta. While there, he designed, staffed and opened the company's newest store at the Mall of Georgia, and designed the makeover of its Buckhead store.
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N.C.'s Temple Furniture honors top salespeople
Maiden, N.C.— Temple Furniture, a manufacturer of traditional, eight-way hand-tied, medium-priced fabric and leather upholstery here, has honored its top salespeople. Shown here are Gary Parker, left, Temple co-owner; Suzanne Hauser and Tom Hauser, who received the Outstanding Achievement Award; and co-owner Tony Parker.
- People on the Move
People on the move
Awards Crate & Barrel New York — Gordon Segal, founder and chief executive officer of retailer Crate & Barrel, will receive this year's Design Patron Award from the Smithsonian Institution's Cooper-Hewitt National Design Museum. The award recognizes outstanding support and patronage within the design community.
Special Report
- Retailer Profile
Calgary family business embraces 4-faced future
Calgary, Alberta— Alberta Furniture is evolving from a family business into a business that just happens to be owned and operated by a family. For Cliff Eisenberg and his brother, Stan, there are subtle but important distinctions between the two. A family business puts the emotional needs of the family first, regardless of any negative impacts on the business.
- Tupelo Preview
New, relocated Tupelo exhibitors
New exhibitors Abimovel/Promovel Accents, Treasures & More Accessory Shows American Heritage Furniture Asia Direct Home Product B&J Direct Import CA Kids California Kids Cape Craftsmen Capetown Furniture College Covers CYM Furniture Décor Unlimited Fu-Chest/Arason Interposes Glideaway Bed Carriage Mfg.
- Tupelo Preview
Market will feature variety of social events
Tupelo— A variety of special events are scheduled for the Tupelo Furniture Market, Aug. 21-24. Wednesday, Aug. 20 5:30–7:30 p.m. Market Kick-Off Party Mississippi Complex, Hall B Thursday, Aug. 21 through Sunday, Aug. 24 8–;10 a.m.Retailer Breakfast Mississippi Complex, Hall D Valet parking available in Hall D beginning at 7:30 a.
- Tupelo Preview
Buyer appreciation breakfasts on tap
Tupelo— Retailers can start their days at the Tupelo Furniture Market with pancakes, omelets, eggs, bacon, sausage, cereal and fresh fruit, courtesy of the market's management team. Complimentary, made-to-order buyer appreciation breakfast will be served daily from 8 a.m. to 10 a.m. beginning on Thursday in the back concession area of Hall D in the Mississippi Complex.
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Tupelo product introductions
All prices retail • TC = Tupelo Complex • MC = Mississippi Complex A&C International TB3 3202 Admiral Bar & Stool TB1 1243 Aico TB3 3034 Introducing Trésor: Ashley TB4 4000 Beechbrook TB1 1255 Brooks TB3 3028 Adding a pair of metal-framed glider rockers in transitional styling with faux suede covers that swivel, glide and recline, $349; $399 with ottoman.
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Karel's 'minor-league' shows prove big draws
Edison, N.J.— Larry Karel, the unofficial Commissioner of the Minor Leagues of Furniture and Accessory Markets, was reflecting on the action at his latest show here. He liked what he saw. Karel proclaimed the 43rd edition of the Edison Furniture and Accessory Market "fantastic." Realizing that might sound a bit over the top for an industry that isn't having the best of years, he added: "T...
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This Vegas market moving to beach
Aventura, Fla.— Larry Karel shuffled his market deck slightly to come up with his lineup of shows for 2004. The Las Vegas card is out. Karel Exposition Management, based here, is dropping the show that had been held there in May. But a growing show, the one held in Long Beach, Calif., is getting a second card.
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New Jersey show venue set to expand
Edison, N.J.— Larry Karel's shows at the New Jersey Convention and Exposition Center here, already a key part of the company's slate of trade shows, are going to be getting bigger starting next year. Officials at the Convention Center, located just off the New Jersey Turnpike south of Newark, plan to add 25,000 square feet of exhibition and meeting space.
Store Openings
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Kincaid opens three dealer stores
Hudson, N.C.— Kincaid, the solid-wood furniture maker and La-Z-Boy subsidiary, has opened three dedicated Kincaid Home Furnishings stores, in Charleston, S.C., Fort Worth, Texas, and Omaha, Neb. The Charleston store, on Sam Rittenberg Boulevard, is the first to feature Kincaid's new brand presentation — updated logos, enhanced exterior elements and point-of-purchase displays.
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High Point's Atrium adds tenants
High Point— With recent expansions and additions, the Atrium Furniture Mall on South Main Street here is 100% leased. The 225,000-square-foot mall contains 26 stores, plus the Atrium Café. The newest additions/expansions at the mall include Georgian Lane, Hickman's Furniture, Coja Leather Gallery, Medallion Furniture and the Heirloom Traditions Home Store.
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Art Van installs 3rd Natuzzi gallery
Warren, Mich.— Michigan retail powerhouse Art Van Furniture has opened a Natuzzi gallery in its flagship store here, the retailer's third Natuzzi gallery and its first in metro Detroit. The 3,100-square-foot gallery features 15 groups of Natuzzi leather and microfiber upholstery. Art Van's other Natuzzi galleries are in Grand Rapids and Port Huron.
Up Front
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Speakers: B2B link saves time, money
Savannah, Ga.— With pressures to accelerate deliveries and reduce costs, manufacturers and suppliers should be looking at ways to increase electronic transactions, particularly in a global marketplace. Business-to-business e-commerce is saving companies like Century Furniture and Liz Claiborne time and money, and positioning them for even greater gains, according to speakers at the Americ...
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AFMA plans meetings
High Point— The American Furniture Manufacturers Assn. has two conferences slated for September. AFMA's annual meeting for human resources and safety professionals will be expanded to include environmental executives. Called "Putting All the Pieces Together," it is set for Sept. 10–12 at the Embassy Suites Kingston Plantation in Myrtle Beach, S.
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New NFM store's a knockout
Kansas City— Nebraska Furniture Mart wowed some 2,000 industry and community guests during a pre-grand opening gala at its 712,000-square-foot mega-store and warehouse here. Last week's event, on the eve of its Aug. 15 official grand opening, gave guests a full serving of what the Omaha, Neb.-based retailer has in store for this new market.
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Kingsdown opens first retail unit
Durham, N.C.— Top 10 bedding producer Kingsdown has opened its first company-owned store at a new, upscale mall here. The Sleep to Live store in The Streets at Southpoint is the prototype of a retail concept developed by Kingsdown and ready to be expanded to malls and other retailing venues nationwide.
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High Point makes market shuttles free
High Point— High Point market organizers will offer free airport and hotel shuttles to all market attendees beginning in October, under a plan approved by the North Carolina Department of Transportation. The free shuttles, funded by a $900,000 state grant for the 2003–04 fiscal year, includes transportation between downtown High Point and more than 100 area hotels.
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Pulaski hires Sibbick
Pulaski, Va.— Industry veteran Bill Sibbick has left Stanley Furniture to join Pulaski in a newly created position, senior vice president of sales. He reports to Larry Webb, Pulaski president and chief executive officer. He moves between two Top 25 manufacturers, joining Pulaski (24th) after serving in several senior posts at Stanley (21st), most recently as senior vice president and prod...
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Russell joins F/T staff
High Point— Veteran business journalist Thomas Russell has joined the editorial staff at Furniture/Today as associate editor. Most recently, Russell spent nearly five years as the editor of Triad Business News, a Greensboro, N.C.-based weekly business publication serving the 12-county Piedmont Triad area.
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