Furniture|Today -- 08/25/2003
Bedding Today
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USA Today spotlights high-end European beds
Europe: four. U.S.A.: one. No, it's not the results from some pre-Olympic track meet somewhere. It's the score that emerged from an interesting USA Today story on the ultra high-end bedding market. Five luxury bedding brands were discussed. Two are from Sweden, two from England and one is from the United States.
Business Today
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Simmons Canada 2Q sales dip 5%; net income off 27.5%
Mississauga, Ontario— SCI Income Trust, parent of bedding major Simmons Canada, said revenue for the second quarter dipped 5% to C$33 million as net income fell 27.5% to C$2.4 million. For the first half, revenue was C$62.2 million, off 5.5%, and net income dropped 37.3% to C$3.7 million. "We experienced a relatively soft second quarter as bedding unit volumes were 8% less than for the sa...
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Shermag earnings surge 42.3%
Sherbrooke, Québec— Canadian manufacturer Shermag said net revenue grew 30.6% in its first quarter to C$55.1 million as net earnings surged 42.3% to C$4.8 million. Jeff Casselman, president and chief executive officer, attributed the growth in a soft business climate to the full-line producer's attention to operations and new products, the recent acquisition of Jaymar, and a tight fo...
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Financial results
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Bombay 2Q sales up 30.2%; loss slashed
Fort Worth, Texas— Specialty retailer The Bombay Company narrowed its second-quarter loss and pushed up its full-year earnings outlook as sales continued to steamroll last year's numbers. It's also pursuing its most aggressive expansion plan since the mid 1990s, with 73 to 77 new stores planned in the second half, including 29 Bombay Kids units.
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Foamex sales decline 3.3% in 2nd quarter
Linwood, Pa.— Foamex, the largest supplier of foam for the furniture and bedding industries, said second-quarter sales slipped 3.3%, and sales for the first half inched up less than 1%. Sales in its foam products segment, which includes furniture and bedding, rose 3% in the quarter, but sales in the automotive, carpet cushion and technical products segments declined.
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Keller's 2Q sales plummet 50.9%; net loss quadruples
Corydon, Ind.— Case goods producer Keller said sales tumbled 50.9% in the second quarter to $4.8 million, while its net loss grew to $1.9 million. Keller, whose board replaced the company's top management earlier this month, said sales declined for several reasons — the economy was weak, purchases of bedroom and dining room furniture have slowed, product had been dropped from produc...
News
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Bernhardt previews Stewart's Turkey Hill
High Point— Market came early last week as Bernhardt gave retailers a first look at Turkey Hill, the furniture maker's latest collection in its licensed Martha Stewart Signature Furniture line. Home and lifestyle icon Stewart was on hand here for the preview. Turkey Hill is an eclectic, 115-SKU collection of case goods and upholstery inspired by Stewart's 1805 farmhouse in Westport, Conn.
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Richardson Bros. gets jump on fall season
Sheboygan Falls, Wis.— Case goods manufacturer and importer Richardson Bros. got a jump on the fall selling season with a national sales meeting in Las Vegas last week to introduce new dining room product and retail concepts. Traditionally, Richardson Bros. has previewed intros with its sales force on the eve of the High Point market.
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Malaysia looking to boost exports
Kuala Lumpur, Malaysia— Malaysia's government is examining ways to boost its furniture exports in the face of intense competition from throughout Asia and especially China. The government this month established the Malaysian Furniture Promotion Council, in the works since 2001, to work closely with the industry.
- Obituaries
John T. 'Tommy' Northrop, COO of Barrow store chain
Opp, Ala.— John T. "Tommy" Northrop, chief operating officer of retailer Barrow Fine Furniture, has died. He was 59. Northrop started in the furniture business when he joined Gunter-Dunn in 1969. He later spent several years as a territory manager for Spring Air bedding. In 1979, he and partner Will Hall acquired Barrow Furniture in Red Level, Ala.
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Furniture First elects 2003-04 officers
Harrisburg, Pa.— Furniture First, a member-owned national buying cooperative, has elected officers and directors for 2003-04. The new chairman is Peter Redman of Northern Mattress & Furniture Galleries in Fairfield, Maine. Ron Hatch of Hatch Furniture in Yankton, S.D., will serve as vice chairman; Jack Nelen, Kavanagh Furniture, Springfield, Mass.
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Seven new retailers join Furniture First Cooperative
Harrisburg, Pa.— Furniture First Cooperative, a buying group for midsized furniture retailers, has added seven members, raising the total to 107 companies. The new members are Robert Fischer, Fischer Furniture, Rapid City, S.D.; Rick Peters, Furniture Manor, Osseo, Minn.; Larry Barnes, FurnitureLand, Delmar, Del.
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Stearns line goes one-sided
Trinity, N.C.— Stearns & Foster has redesigned its entire line to single-sided and will introduce the new products at the High Point market this fall. Officials at Sealy, which owns Stearns & Foster, said the new models will be "the best line of mattresses in the market today" and will have a "superior new design.
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Latex foam pioneer Bill Coffey retires
Shelton, Conn.— Latex foam industry pioneer Bill Coffey, who co-founded the company that became Latex Foam International, has retired. Coffey, 76, had been chairman of the board of LFI, a supplier of latex mattresses and pillows, and will become chairman emeritus. Stephen Russo, president and chief executive officer of LFI, and another director will divide the chairman's responsibilities ...
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HS Converting to distribute mattress liners
Lowell, Mass.— Freudenberg Nonwovens LP has named HS Converting as national distributor of Freudenberg's Viledon thermal barrier mattress liners. The fire-resistant liners will enable bedding producers to meet new open-flame mattress standards being developed in California, according to Freudenberg, with the products designed to provide maximum control of the mattress burn rate in a fire.
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A-Z Media launching e-newsletter
Carlsbad, Calif.— Advertising and marketing firm A-Z Media is launching Home Furnishings Insights, an e-mail newsletter on advertising and marketing for the home furnishings industry. Initially, it will be distributed monthly. Topics will include broadcast buying, advertising creative, direct marketing, e-mail and Internet marketing, store design and marketing, consumer research and marke...
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Storis, Exim Technologies form strategic alliance
Parsippany, N.J.— Retail software supplier Storis Management Systems has formed a strategic alliance with Exim Technologies, a provider of Internet-based business-to-business software and services, a move that will allow Storis dealers to exchange data electronically with manufacturers more efficiently.
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Woodard sets China plant, realigns U.S. operations
Chicago— Casual dining and outdoor furniture resource Woodard is nearing completion of construction on its first Chinese factory, and is realigning its domestic operations. The 400,000-square-foot Woodard China plant is a joint venture with the owners of outdoor manufacturer Leisure Garden — Roger Chen, Jennifer Ho and Violet Lin.
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Calif. retailer begins liquidating 4 stores
San Francisco— Top Furniture is liquidating its four California stores after filing for Chapter 11 bankruptcy protection in May. The Fremont, Calif.-based retailer has operated under the names Sofas & More, Top Furniture and Woodworks Furniture. Hilco Merchant Resources of Northbrook, Ill., is conducting store-closing sales.
Opinion Today
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How the rug business is being Americanized
Imports are a major issue in the furniture business. They are flooding the country, putting old-line factories at risk. But in the rug business, the opposite seems to be happening. Importers can't compete with U.S.-made product. I call it the Americanization of the rug business. U.S. rug makers offer inexpensive machine-made rugs from polypropylene fiber at a fraction of the cost of hand-made i...
Special Report
- Retail Giants
Wal-Mart ranks No. 1 in furniture
New York— The world's largest retailer, Wal-Mart, has now become the top furniture sales leader, with 2002 sales of $1.24 billion in furniture and bedding, an increase of 14.3% over 2001. Wal-Mart becomes the first non-conventional furniture retailer to head the Furniture/Today ranking since Sears held the No.
- Retail Giants
Major consolidations impact department store rankings
New York— Department store rankings for furniture and bedding sales in 2002 were skewed by the corporate consolidations of several major players, including Robinsons-May and Meier & Frank, and Filene's and Kaufmann's. Despite these moves, department stores in the Top 15 increased furniture and bedding sales by a slim 0.
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Brazilians carving out export niche
Sao Paulo, Brazil— Despite internal obstacles, Brazil continues to increase its furniture exports to the United States, casting itself as a viable backup to America's No. 1 trading partner, China. "Backup" is the operative word. Brazilians have accepted that they can't compete equally with China and other Asian sources and are satisfied to carve out their own niche.
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Hand-tufted rugs: Mass vs. class
High Point— Tufted rugs have become a battleground for a major war between the mass and the "class" retail channels. In mass-market stores, simply designed tufted rugs are being sold out of dump cartons for under $100. In furniture, department and floor covering stores, wool and silk rugs featuring hand carving and silk accents have become fast-turning fashion items at $700 to $1,000.
- Retail Update
Awesome's the word
Kansas City, Kan.— Norman Waxman was one of hundreds of manufacturers on hand the night before the grand opening of Nebraska Furniture Mart's newest, biggest store here, and he was more than pleased with what he saw. "It's the most prolific display of home furnishings in the country," said Waxman, executive vice president of Schnadig.
- Retail Giants
Wal-Mart dominates discount channel
New York— Wal-Mart produced the lion's share of the Top 5 discount department stores' furniture and bedding revenues for 2002, capturing 53.7% of the group's $2.31 billion. That represents a big jump over 2001, when the Bentonville, Ark., retail giant had a 48.4% share of the Top 5 discounters' furniture and bedding business.
- Retail Giants
How the numbers are compiled
Furniture/Today's exclusive survey of the Top Retail Giants ranks the Top 25 U.S. furniture and bedding retailers, the Top 15 U.S. department stores and the Top Five discount department stores for furniture and bedding. Data is based on fiscal year ended Dec. 30, 2002, unless otherwise noted. Companies on all three lists are ranked according to their estimated 2002 sales of furniture and bedding.
Store Openings
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Broyhill adds Pa., Ky. galleries
Lenoir, N.C.— Broyhill Furniture has opened two galleries in stores in Pennsylvania and Kentucky. Beiter's Furniture in Williamsport, Pa., has installed a 7,500-square-foot Broyhill Showcase Gallery in its new store, which is across the street from the Little League World Series baseball stadium.
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Texas store installs Flexsteel
San Marcos, Texas— A 5,000-square-foot Flexsteel upholstery gallery has been installed at North Carolina Furniture Direct here. Earl Studdard is owner of the 33,000-square-foot store, which opened in 1997.
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La-Z-Boy opens Ind., Fla. stores
Monroe, Mich.— La-Z-Boy has opened two La-Z-Boy Furniture Galleries stores, in Indiana and Florida. In Indianapolis, a 15,400-square-foot store on East Southport Road is owned by Tom Foster. Ocoee, Fla., is home to a 22,000-square-foot La-Z-Boy store on West Colonial Drive. Scott Sackman is the store owner.
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S.C. store has England gallery
Columbia, S.C.— High Point Furniture here has opened a 4,000-square-foot England Custom Comfort Center. This marks the second England gallery for the retailer. Kendall Hatch is manager of the 11,000-square-foot store in Columbia.
Supplement
- Global Textiles Today
Shimmer, novelties in spotlight
High Point— Summer Showtime 2003, held here in July, was all about "more" — more color, more novelty and even more choices of where to shop as the pool of global vendors at the show grows deeper each season. This page presents some of the best looks from the recent fabric show. Puckers and polka dots, paisley, patchwork and pink were among the design directions at the recent show, a...
- Global Textiles Today
Colors, details drive Decosit intros
Brussels, Belgium— Finding fresh, innovative products is never more important than when business is slow and consumers are not shopping for the sake of shopping. They can be inspired to spend money on non-essential goods, however, by updated colors and interesting details, which are abundantly available in the fabric lines being introduced at Decosit and TIP here.
- Global Textiles Today
Shiny
Lovers of fashion and color can page through fashion magazines and enjoy a pleasant daydream of themselves strutting — with attitude to spare — the catwalks of Paris or Milan in the fantastic haute couture of designers like Versace, Chanel or Christian LaCroix. While the average consumer has no illusions about ever being the size and shape of a runway model, she does know that the c...
- Global Textiles Today
Organic
- Global Textiles Today
Hand crafted
- Global Textiles Today
Earthy
- Global Textiles Today
Staying competitive
Brussels is the place to be in September for serious buyers and sellers of upholstery fabric. These executives travel here to get an early look at trends in home furnishings textiles and designs at the Decosit fair, which is held annually at the Brussels Expo Center. Since last year's Decosit show, the U.
Up Front
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WithIt, YHFA conference set for Feb.
High Point— Women in the Home Industries Today, or WithIt, and the Young Home Furnishings Executives will co-host their second Leadership Conference next February. "Facing Challenge & Change Through Leadership Excellence" is set for Feb. 4–5 at the Airport Marriott in Greensboro, N.C.
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T&J to serve up dining
Mississauga, Ontario— T&J Furniture will enter the solid-wood dining category at premarket, expanding beyond bedroom and wall systems as it seeks growth opportunities on both sides of the border. Designed by High Point-based Haywood West, the four dining groups set for September in High Point are based on best-selling T&J bedroom suites and will target upper midrange price points.
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Edwards aims to expand Mirador
High Point— Importer InMark USA is expanding its direct-sales division, Mirador, with the hiring of Bryan Edwards. Edwards, who joins Mirador as vice president of sales and marketing, had been national vice president of sales for Lea Inds. He also previously worked for American Drew. "The owner, Dan Wistehuff Sr.
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Lexington to close former Dixie plant
Lexington, N.C.— Full-line manufacturer and importer Lexington Home Brands will close one of its two remaining domestic case goods plants here. Production at the nearly 1 million-square-foot Plant 1, primarily bedroom and occasional pieces, will be consolidated in Plant 2, which is about 750,000 square feet.
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Schnadig taps Walters, names Phillips to post
Chicago— Former Thomasville Furniture Inds. executive Guy Walters III has joined manufacturer Schnadig as vice president of merchandising. He succeeds Laurie Phillips, who moves to the new post of vice president of marketing, with responsibility for marketing strategies and the management of marketing services.
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NHFA, WHFA to host joint conference in May
Phoenix— Next May, the National Home Furnishings Assn. and the Western Home Furnishings Assn. will host their first joint conference since 1997. The retail groups' 2004 all-industry convention, with the theme "Out West, Where Legends Begin," is set for May 15–17 at the Sheraton Wild Horse Pass Resort and Spa in this Arizona city.
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Seven leaders nominated to Hall of Fame
High Point— Seven industry leaders have been nominated to join the American Furniture Hall of Fame for 2003. Nominees include four who made their marks in manufacturing — Thayer Coggin, Mickey Holliman, Spencer Colie Kittinger and Delmar Leroy Kroehler — and three retailers, Sherwin Glass, Leon Levitz and Morty Seaman.
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Drexel tying Tuscany to new movie, book
High Point— Drexel Heritage will kick off this fall a national advertising and promotional campaign for its Frances Mayes at Home in Tuscany licensed collection of case goods. In addition to full-color, multi-page ads and inserts in upscale shelter magazines, Drexel Heritage is counting on promotional tie-ins with a re-release of Mayes' book, "Under the Tuscan Sun," and the premiere of a ...
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Vietnam gearing up to build U.S. business
Washington— Already a growing source for the U.S. market, Vietnam has a three-pronged strategy to build furniture exports to America. The Vietnamese Ministry of Trade is working with Exsero Group, a Washington-based consultant, on programs to attract prospective buyers. One is a buyer trip for potential U.
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Silver making comeback with Max Home
Fulton, Miss.— Marty Silver is back. The veteran upholstered furniture manufacturer, whose signature transitional look at Bauhaus was a mainstay in the 1990s, has formed a midpriced upholstery producer called Max Home with three of his former executives and his son Joshua. "We hope to grow to $40 million or $50 million — but slowly.
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