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Furniture|Today -- 11/03/2003
Bedding Today
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Bedding add-ons worth selling in their own right
It's not a new idea, but the possibility of add-on sales looms larger than ever these days for bedding retailers. This fact was driven home at the latest running of the International Home Furnishings Market — i. e. The Market — in High Point. As I went about my duties of calling on various and sundry mattress and metal bed producers, I came across some products that get very little ...
Business Today
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RTO majors post gains; Rainbow profits drop
Plano, Texas— Rent-A-Center posted an 11.2% increase in third-quarter revenues and a 9% uptick in net earnings. Meanwhile, rent-to-own major Aaron Rents racked up double-digit gains in third-quarter revenues and earnings, while Rainbow Rentals reported a big drop in net income although revenues were up modestly.
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Havertys has double-digit gains
Atlanta— Buoyed by strong performances in bedding, formal dining and upholstery, Top 100 store Havertys reported double-digit sales and earnings increases in the third quarter. The company, which operates 112 stores in 14 states, said recent business trends remain positive, and management believes business will remain strong into 2004.
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O'Sullivan sales flat, operating income off
Lamar, Mo.— O'Sullivan Inds. Holdings, parent of ready-to-assemble major O'Sullivan Furniture, said sales in its first quarter ended Sept. 30 were $71.5 million, virtually unchanged from sales of $71.6 million in the comparable period a year ago. Operating income for the quarter was $3.8 million, or 5.
News
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Textile execs press Bush
Washington— U.S. textile executives, along with members of Congress, trade association executives and union officials, have sent more letters to President Bush asking for protection from Chinese textile and apparel imports. The letters, signed by 139 U.S. representatives and 26 senators, urge Bush to support the invoking of the special textile China safeguard and other measures.
- Bedding Benchmarks
UL testing mattress flammability
Northbrook, Ill.— Underwriters Laboratories has joined the growing field of companies offering flammability tests on mattresses. The testing lab, based here, is one of about half a dozen U.S. labs capable of conducting tests for California's proposed stringent mattress flammability standard known as Technical Bulletin 603.
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Kathwari values product, education
Danbury, Conn.— While Ethan Allen has remained profitable during a difficult period for the furniture industry, it hasn't been immune from slower business. But there's a bright side for Farooq Kathwari, chairman and chief executive officer. "I feel like the best time to make changes is when things are somewhat difficult," he said.
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Calvin Klein furniture tie near
New York— Apparel giant Phillips-Van Heusen, which acquired the Calvin Klein company in February, is close to choosing a furniture licensee as it moves to grow the Calvin Klein Home business. Mark Weber, president of P-VH, said, "We are actively exploring furniture, and we hope that marriage is getting close, hopefully with an announcement by the end of this year or in the first quarter o...
- Obituaries
Leo Cohen, retired retailer
Slingerlands, N.Y.— Longtime Connecticut furniture retailer Leo Cohen, who operated Furniture Fair and Heritage Home Gallery in Willimantic, Conn., has died. He was 94. Cohen, a Boston native, worked at Raytheon during World War II and helped solve problems with the original atomic bomb transformers, leading to completion of the Manhattan Project.
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Formal eclectic line, new categories debut
Danbury, Conn.— To help execute its brand strategy, Ethan Allen introduced new product at its dealer conference here. The major rollout was the formal eclectic Newport case goods collection for the Classic Home product line. The company also entered new categories: bathroom sink cabinets and home entertainment pieces designed for plasma screen televisions.
- Bedding Benchmarks
Spring Air's Eilenfeldt receives YMCA award
Chicago— It all started for Bob Eilenfeldt at the YMCA in Mason City, Iowa. That's where Eilenfeldt, then a small boy, learned to swim. He also learned about the many programs offered by the YMCA. That formative experience spurred Eilenfeldt to a lifetime of involvement with the YMCA and eventually led him to a national volunteer position beginning in 1999.
- Bedding Benchmarks
Kingsdown celebrates centennial with charity
At The Market— Kingsdown is celebrating its centennial next year with a broad social marketing initiative that will benefit the Children's Miracle Network hospitals. Participating consumers who get a DormoDiagnostics profile will be recognized with donations to the hospitals in their names. The manufacturer also is sponsoring a number of other fundraising events throughout the year.
- Bedding Benchmarks
Kingsdown gets patent on Dormo
High Point— Kingsdown has received a patent for key elements of its DormoDiagnostics system. Based on more than 12 years of sleep research, development and testing, the computerized DormoDiagnostics system scientifically determines a consumer's body profile and specifies the sleep system that best suits his or her needs.
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Relax-R retools gliders for U.S. dealers
High Point— Relax-R has decided to drop distribution of its glider rockers in Canada, and retooled the line for the October market here to better serve U.S. retailers. Dan Ide, vice president of sales and marketing, said the Milton, Vt.-based company does a brisk business supplying bases and other components to Canadian glider rocker producers and wants to maintain those relationships.
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AsiaLink, Cuvée merge
High Point— Sourcing and product development specialist AsiaLink has merged with Cuvée, a Chinese case goods, occasional and upholstery manufacturer that is developing national distribution in the United States. AsiaLink's president and chief executive, Gene Hodges, and managing director, Ron Pass, will handle all U.
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AFMA annual meeting set Nov. 13–16
High Point— Changing consumer behavior and emerging channels of distribution will be the hot topics at the American Furniture Manufacturers Assn. annual meeting Nov. 13–16 at the Ritz-Carlton in Sarasota, Fla. Michael Cohen, a developmental psychologist and clinician, will be the keynote speaker.
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IFDA sale benefits FDC, HPU
High Point— The Furniture Discovery Center and High Point University's home furnishings program were the recipients of proceeds from The Carolinas Chapter of the International Furnishings and Design Assn.'s ninth annual benefit sale of furniture and accessories The donations were presented at an October market event.
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GMAC Commercial Finance forms Retail Finance Group
Boston— GMAC Commercial Finance has formed a Retail Finance Group to provide working capital financing for retailers, including furniture stores. The new Boston-based group is led by Andrew Moser, senior managing director, and Robert Shusterman, managing director. It primarily will target companies with sales of more than $50 million, providing senior secured financing in the $10 million ...
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Excite them, then sell
Danbury, Conn.— Ethan Allen dealers used their convention here last week to talk about how to execute a strategy to get consumers excited about furnishing their homes. "What to do is what we'll discuss most here, not product," Farooq Kathwari, chairman and chief executive officer of the full-line manufacturer and retailer, told the more than 600 retailers attending the event, titled "Furn...
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Wildfires bring destruction, disruption
San Diego— Howard Haimsohn was in Los Angeles for a wedding when a cousin called and told him he might want to come home. His neighborhood was on fire. "The two-and-a-half-hour drive home was probably the most stressful in my life," said Haimsohn, president of two-store Lawrance Contemporary Home Furnishings in San Diego.
Opinion Today
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Market and the media don't always mix well
There's a fine line between good and bad media coverage during the International Home Furnishings Market. On one hand, media exposure is positive because it generates excitement about new product, fashions and trends. That can only be good for an industry that has been plagued by stop-and-go sales. On the other hand, officials don't want coverage to compromise the to-the-trade-only nature of th...
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So what about those odd stores you saw at market?
We are wrapping up our detailed analysis of furniture distribution in 2002. Distribution should be a very hot topic, but other issues appear to be getting more attention. We suspect that one day soon we will remember that who purchases our furniture is at least as important as who makes it. As we mentioned several columns ago, furniture stores accounted for about 70% of furniture and bedding sa...
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What consumers tell us about furniture shopping
The more things change, the more they stay the same. For example, I know that after market I can plan on spending a few days catching up on voice mail, e-mail and snail mail that accumulated on my desk. True to form, I had the usual pile of mail last week, with one very interesting exception. One of my good retail friends was kind enough to share a copy of a study that examined consumer attitud...
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Positive market scores a few points
Market's come and gone, and many believe we should compare this October's event with 2000 and early 2001 as the barometers for the tempo, the mood and order-writing. The majority seem to agree that more recent markets, and especially last April's, were so disappointingly below par that last month's event would be dramatically skewed upward by comparison.
People Today
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Terra do Brazil taps Bassil as sales director
Miami—Fadi Bassil has been named national sales director for Terra do Brazil, an importer of furniture, handcrafts and accessories from Brazil. He previously was Florida and Latin American regional sales manager for contract seating maker Shelby Williams. At Terra do Brazil, Bassil will assemble and coordinate a sales team for the United States and Canada.
- People on the Move
People on to the Move
Executives Tempur World Lexington, Ky. —Ken Mitchell has been promoted to vice president of research and development at Tempur World, parent of visco-elastic mattress maker Tempur-Pedic. He was U.S. director of R&D, and joined Tempur World in 2001 as technical services manager for Tempur Production USA.
Special Report
- Show Report
Traffic, order-writing brisk in Valencia
Valencia, Spain— Boosted by an influx of international buyers, the 1,300-plus exhibitors at the Valencia International Furniture Fair last month enjoyed the best traffic and order-writing of the past three years. A total of 88,201 buyers attended the market, Spain's major domestic furniture show and an increasingly important European venue.
- Show Report
Upholstery makers face obstacles in U.S. market
Valencia, Spain— Because they serve a population that favors compact apartments and condos over single-family homes, upholstery producers at the International Furniture Fair here didn't show off sectionals seating eight people plus all the family pets. The "big-man" recliners that are a hit in the United States were barely visible — often tucked away in the corner of the showroom if...
- Retail Profile
Janosik: Be honest, be fair and support the community
Laurel, Del.— Johnny Janosik got off a bus in this small town as a teenager with $1.98 in his pocket. Thanks to a lifetime of retailing, he's got much more than that now, and he is intent on giving a lot of it back to his adopted hometown. Founder and owner of two furniture and bedding superstores that bear his name, Janosik is still in touch with his business.
- Retail Profile
Advertising makes Janosik a retail powerhouse
Laurel, Del.— Superstore merchandising supported by aggressive and consistent advertising has made Johnny Janosik Furniture a retail powerhouse, drawing customers from five states. A commitment to people, whether staff or customers, keeps consumers coming back. Johnny Janosik Furniture, which has achieved record sales every month but one for more than five years, plans a major expansion o...
Supplement
- SoHo Today
High Point highlights
After a slump of more than two years, home office appears to be firming up, and that was reflected at the just-concluded High Point market by the more aggressive introductions from several key players. "Demand is stronger across the board," said Mike Charlton, senior vice president for Riverside. "It might be pent-up demand, but interest in the category has definitely picked up.
- SoHo Today
Accessory lines offer add-on opportunity
At last month's High Point market, several desk accessory programs were introduced or expanded. Among them, Wolf Designs, a 169-year-old London firm that has traditionally specialized in travel accessories and jewelry cases, added to its lineup of desk sets. Importing from Asia, Wolf offered several series of leather-clad pads, organizers, picture frames and other desktop accessories.
- SoHo Today
Hooker scores with big sale event
Martinsville, Va.— Hooker Furniture's efforts to promote entertainment furniture are paying off in a big way for the company's retailers. Hooker held its second annual National Home Entertainment sale earlier this fall, and the 17-day promotion generated a 67% increase over last year's similar sale.
- SoHo Today
Riley Holliday gains space
Ontario, Calif.— A quick-and-easy assembly system is helping a new player gain a foothold in entertainment. Riley Holliday Furniture, which imports and manufactures domestically, has developed a flat-pack system that helps save 60% on freight costs by filling import containers with hundreds of knocked-down entertainment centers and television stands.
- SoHo Today
Entertaining ideas
Home theater walls and consoles for flat-screen televisions — they were everywhere at last month's High Point market. This isn't surprising, since home theater electronics and televisions continue to be strong sellers at big-box retailers such as Best Buy and Circuit City, creating a growing need for creative furniture solutions.
Up Front
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Industry leaders to address hot issues at F/T conference
High Point— Despite brisk registration, there is still time to sign up for the 2003 Furniture/Today Leadership Conference Dec. 3–5 at The Ritz-Carlton Orlando Grand Lakes in Orlando, Fla. The event, with the theme "Opportunity Knocks," will give leading retailers, manufacturers and suppliers the opportunity to discuss critical industry issues, including the growing clout of imports,...
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Hendricks expanding scope of FBI store plans
Hickory, N.C.— In less than a year, Top 100 company Hendricks Furniture Group has gone from dipping a toe in the dedicated-store waters to a full-steam-ahead partnership with No. 1 manufacturer Furniture Brands International. Hendricks, operator of Boyles and other stores, is on a growth spurt that eventually will lead to some 20 Thomasville stores in four Southeast states, and five Drexe...
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Crate & Barrel's Segal gets design patronage award
New York— Gordon Segal, founder and chief executive officer of retailer Crate & Barrel, has received the Design Patron Award of the Smithsonian's Cooper-Hewitt National Design Museum. In addition, a National Design Award was presented to contract furniture maker Herman Miller Inc. for product design.
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Finucan joins Simmons
Atlanta— Kalpana Finucan has joined Simmons as brand manager for the bedding maker's BackCare and Deep Sleep brands. She succeeds Tim Oakhill, who has assumed brand manager responsibilities for the Beautyrest brand. Finucan has a background in consumer marketing, including advertising, sales promotions, sales training and business writing.
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Bob's gets state honor
Manchester, Conn.— Bob's Discount Furniture has been honored as Connecticut's 2003 Retailer of the Year. The Connecticut Retail Merchants Assn. presented the award at a luncheon in Hartford, Conn. The award honors one company each year for exceptional customer and community service. Bob's, based in Manchester, has 11 stores and a distribution center in Connecticut, making up the bulk of t...
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Tempur-Pedic parent plans stock offering
Lexington, Ky.— The owner of fast-growing Tempur-Pedic has filed a registration statement with the Securities and Exchange Commission for an initial public offering of stock. In its Form S-1 filing, TWI Holdings Inc. did not say how much money it plans to raise by selling stock. It did, however, provide a wealth of information on the company's business, financial performance and marketing...
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IFSA, HFIA hold joint market social
High Point— About 200 retailers, wholesale distributors, importers, manufacturers and guests attended a market party here hosted by the International Furniture Suppliers Assn. and the Home Furnishings International Assn. It was the first function the two associations had run jointly, and took place at Market Square the Tuesday before the market's official Thursday opening.
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Keller outlines strategy
Corydon, Ind.— Change is coming fast at case goods manufacturer — and now importer — Keller Mfg. under new leaders Keith Williams, president and chief executive officer, and Ken Fonville, president of the newly created Keller Design Center. The broad strategy includes a bigger role for imports, revitalized and re-engineered domestic production, and acquisitions — the lat...
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Bill would require federal fire regs
Washington— Saying the U.S. Consumer Product Safety Commission has dragged its feet, South Carolina Democratic Sen. Fritz Hollings has introduced legislation that would force the CPSC to adopt mandatory fire-safety standards for mattresses and upholstery within 90 days of the bill's enactment. The mattress flammability standard would be substantially the same as California's Technical Bul...
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