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Furniture|Today -- 05/17/2004
Bedding Today
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Earl of the High End still chasing a dream
It's fitting that Earl Kluft launched his bedding comeback in Guasti, Calif., a sleepy landmark that once was a key part of California's winemaking industry. He chose that scenic setting, which happens to be just a few miles from his new bedding factory in Ontario, to relaunch his own sleepy landmark: Aireloom.
Business Today
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Simmons sales surge 20%; profits take hit
Atlanta— Bedding major Simmons Co. said first-quarter sales increased nearly 20%, but net income tumbled 47% due to expenses related to its December acquisition by affiliates of Thomas H. Lee Partners. The company reported double-digit sales increases in both its wholesale and retail bedding segments.
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Leon's profits soar 63.7%
Toronto— Retailer Leon's Furniture said first-quarter sales grew 13.7% to C$104.5 million from last year's C$91.9 million, as net income soared 63.7% to C$7.5 million, or 39 Canadian cents per share, from C$4.6 million, or 23 Canadian cents per share, in 2003's first period. Total sales for Canada's second-largest furniture and bedding retailer, including the C$34.
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Simmons Canada's 1Q net income jumps 57.2%
MISSISSAUGA, Ontario— SCI Income Trust, parent of bedding producer Simmons Canada, said first-quarter revenues inched up 2.8% to C$30 million from last year's C$29.2 million, as net income jumped 57.2% to $C2.2 million from C$1.4 million in the comparable 2003 period. "Our performance in the first quarter was a solid improvement over the first quarter of 2003," said Terry Pace, president ...
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Sleep Country Canada boosts 1Q revenues 17.8%
Toronto— Sleep Country Canada Income Fund, parent of sleep shop chain Sleep Country Canada, said first-quarter revenues rose 17.8% to C$42.4 million, with earnings before interest, taxes, depreciation and amortization, or EBITDA, increasing 38.6% to C$5.1 million. Same-store sales grew 10.2% in the first quarter.
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Easyhome net income leaps 93.8%
Edmonton, Alberta— Easyhome, this country's largest rent-to-own furniture and bedding merchant, said revenues in the first quarter rose 8.7% to C$20.9 million, compared with C$19.2 million in last year's first period. Net income in the quarter came to C$1.5 million, or 23 Canadian cents per share, a 93.
News
- Obituaries
Obituaries
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Koch completes Invista purchase
Wichita, Kan.— Koch Inds. has completed its $4.2 billion purchase of Invista, the former DuPont Textiles & Interiors. Koch, parent of polyester fiber producer KoSa, assumed debt and certain joint venture and equity interests as part of the acquisition. "The new Invista has many capabilities, recognized brands and an innovative team, and we believe our long-term outlook is excellent," ...
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Dunmore promotes Moore to new VP post
Hickory, N.C.— Sandi Moore has been promoted to the newly created position of vice president of merchandising and design at upholstery producer Dunmore Furniture Inds. Moore is a nine-year veteran of the industry and has served as director of merchandising for Dunmore since August 2002. Her responsibilities include frame design, fabric selection and direction of merchandising strategy for...
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WithIt soliciting nominations for WOW awards
High Point— Women in the Home Industries Today is soliciting nominations for its annual WOW awards, to be presented at the October furniture market. The awards are given in four categories: Nominations must be 25 words or less, describing why you think the person or organization should be considered for the respective award.
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Bedding producer IBC appoints three executives
Fort Lauderdale, Fla.— Fast-growing bedding producer IBC has appointed three executives. Scott Miller has been promoted to national vice president of sales. He has been with IBC for three years and was most recently sales manager for the Texas region. Filling the Texas job is Danny Maultsby, who was a salesman for the southern Texas territory.
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Scoperta names Green managing dir.
Chiasso, Switzerland— Bill Davis, owner and chairman of Trade Link, organizer of Scoperta here and other fabric trade shows, has turned over day-to-day management of the company but will continue to direct overall operations. Andy Green was named Trade Link managing director shortly before Scoperta 2004 opened earlier this month.
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WMC gets $191M loan
Las Vegas— The World Market Center here is on a roll, having secured a $191 million construction loan to complete Phase One, a 1.3 million-square-foot home furnishings complex slated to host the inaugural July 2005 market. The financing, by the New York branch of the Hypo Vereinsbank, was announced earlier this month during a tenant construction symposium at the Venetian Hotel here for ex...
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Schweiger poised to close on May 18
Jefferson, Wis.— Upholstery producer Schweiger, which has been seeking a buyer for months, apparently will make its last piece of furniture this week. Officials of the 105-year-old company said that, unless an 11th-hour deal can be struck, production will cease May 18 and the plant's equipment will be auctioned two days later.
Opinion Today
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Fabric producers talking, not always to each other
With textile import quotas due to expire at the end of the year, you'd think domestic producers of upholstery fabric would be gathered on some common ground from which to defend their interests. They aren't. There are reasonable explanations for why they aren't, but all the explanations in the world may not matter in the end if a leader doesn't emerge to rally the troops.
People Today
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Leer joins Decorize in VP of sales post
Springfield, Mo.— Sales management veteran Buzz Leer has joined Decorize Inc. as vice president of sales and will direct sales and marketing efforts in the specialty retail channel. He will coordinate and direct efforts of sales rep organizations for three Decorize brands — Decorize.com, Faith Walk Designs and Guildmaster.
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Kelley to direct Sterling's creative services efforts
Norcross, Ga.—Barry Kelley has joined furniture, home accents and lighting source Sterling Inds. in the newly created position of director of creative services. He previously was vice president of marketing, merchandising and creative services for rug resource Oriental Weavers of America, and earlier was with Mohawk Home.
- People on the Move
People on the Move
Directors/Officers Spring Air Partners-N.A. NEW YORK — Bedding producer Spring Air Partners-North America, Spring Air's largest licensee, has removed Daniel Sullivanand Victor de Jong from its board of directors. The company, operating under Chapter 11 bankruptcy protection, said the move was taken pursuant to written consent of the majority of its stockholders.
Special Report
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Kluft marks return to bedding with
Guasti, Calif.— With a winemaker's historic estate as the backdrop, Earl Kluft celebrated his return to the bedding industry last month with the relaunch of the Aireloom brand. Just one week after the ink dried on his purchase papers for Aireloom, Kluft introduced three all-new lines of bedding at a private show at Guasti Villa, a Mission Revival estate built in 1923 and recently renovated.
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Retailers enthusiastic about Kluft's return
Guasti, Calif.— Earl Kluft's relaunch of Aireloom won immediate kudos from retailers who saw the line at an invitation-only showing here. A steady stream of West Coast bedding retailers flowed through the Guasti Villa, where three new bedding lines greeted them. "There aren't too many people who know how to make a mattress," said Abbas Vossoughi, owner of L.
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New owner carries on family tradition
Ontario, Calif.— Earl Kluft, the new owner of Aireloom, is carrying on a family tradition in the bedding business. His grandfather, Harry Kluft, moved to the United States from Russia with his brother, Sam, in 1915. They put the Kluft family into the bedding business. The first company, Eagle Bedding, gave way to another, Deluxe Bedding, which set up shop in Los Angeles in 1946.
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Contemporary jazzing up rug scene
High Point— As consumers embrace a more relaxed lifestyle, they are searching for rugs to match. To serve this fast-growing market, rug producers are developing styles with easy lines, softened edges and casual good looks. Call it the American contemporary movement. Sprightly patterns provide a bold foil against the simple monochromatic looks of smooth dark leather or nubby fabrics in nat...
Store Openings
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Broyhill installs 4 galleries
Lenoir, N.C.— Full-line manufacturer Broyhill Furniturehas opened Showplace galleries in stores in Connecticut, Tennessee, South Carolina and Michigan. In Danbury, Conn., Danbury Furniture has expanded its Broyhill offering with the installation of a 12,500-square-foot Showplace gallery in its 25,000-square-foot flagship store in downtown Danbury.
Supplement
- SoHo Today
Ameriwood teams up with Belkin for connectors, hubs
Wright City, Mo.–Ameriwood has forged a design alliance with Belkin, maker of computer cables, hubs and switches, and the two companies will work together to develop new products that incorporate both technology and furniture. Essentially, Ameriwood, the Dorel division that specializes in flat-pack furniture, will build Belkin connectors and hubs into its desktops, making it easier and mo...
- SoHo Today
BackSaver targeting furniture stores
Holliston, Mass.– BackSaver, which makes high-end recliners and office chairs, is looking to expand distribution and open accounts with home furnishings retailers. Makers of the distinctive high-back executive chair from which Judge Lance Ito presided over the O.J. Simpson trial, BackSaver has worked primarily with back-care stores and other specialists.
- SoHo Today
Jesper expands office lineup, distribution
Branchburg, N.J.—Jesper Office wants to broaden its horizons, and with an expanded product lineup, the Danish company also wants to find new avenues of distribution. The company has brought in Kevin McGuinness as a consultant with the title of chairman. McGuinness, a veteran retailer and manufacturing executive, is the former president of Ekornes, a Norwegian reclining-chair line that man...
- SoHo Today
O'Sullivan adds to SOHO lines
Lamar, Mo.– With the addition of two new collections, O'Sullivan Furniture intends to be more of a player in the SOHO market. At the High Point market this spring, O'Sullivan introduced TQ Solutions and ProFlex as part of its Intelligent Designs brand, which now includes seven collections for the small-business market.
- SoHo Today
Hiddenbed makes debut
San Leandro, Calif.– Combining elements of a wall bed and a computer armoire, the fold-out desk-beds from Hiddenbed allows people to sleep on the job, literally. A new exhibitor in High Point, Hiddenbed is a developing concept that is looking to license its design to manufacturers and sell its products to retailers.
- SoHo Today
Studio RTA takes step up
High Point— The Workmaster Home Office introduction by Studio RTA this spring continues the RTA company's move toward step-up style as well as promotional pieces. Constructed from solid and veneers, metal and glass, the contemporary design has Art Deco influences. The glass top features a Deco-inspired rounded edge on one side.
- SoHo Today
People on the move
Bob Kreter Holland, Mich. — Bob Kreter has joined Sligh as marketing communications manager. Replacing Sue Swain, who has started her own business outside the furniture industry, Kreter had been communications project manager for the wood furniture division at Steelcase, the contract furniture major.
Up Front
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Penney launches Madden
New York— With all the fanfare typically given to a major apparel launch, JCPenney debuted the Chris Madden home furnishings collection with a 2,500-square-foot showroom display in the Concourse of Rockefeller Center here. All elements of the designer's Turning Home into Haven collection — furniture, rugs, bed and bath, decorative pillows, window coverings, accessories and lamps ...
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Delta bringing back Disney
New York— Entertainment and media giant Disney is returning to the furniture industry, teaming up with Delta Enterprise here for a youth furniture line that will hit retail this summer. Disney Consumer Products had a licensing deal with Lane for youth furniture in the 1990s, but that program is no longer active.
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Morris opens first Ashley store in Cincinnati
Cincinnati— Morris Home Furnishings has opened the first of three or four Ashley Furniture HomeStores here, part of an aggressive Ohio rollout of the format that soon should propel Morris into the Top 100. The 72,000-square-foot store off Interstate 275 at Commons Drive opened last month within a 300,000-square-foot space that had been home to Roberds Grand.
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Robertson group acquires Southport
Elizabethtown, N.C.— An investor group that includes former Keller chief executive Steve Robertson has acquired bedroom importer Southport Furniture for an undisclosed amount. The group formed The @ Home Co. to purchase Southport's inventory, dealer base and certain other assets from McQueen Campbell.
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Saxon succeeds Dunn as president of Culp Inc.
High Point— Culp Inc., a major producer of upholstery fabric and mattress ticking, has made several changes in its senior management team, including the appointment of Fran Saxon as president and chief operating officer. Howard Dunn, who had been serving as president and chief operating officer, has assumed the new position of vice chairman.
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Therapedic taps Borreggine as president, promotes Pino
Middlesex, N.J.— Gerry Borreggine has been named president of Therapedic USA and will assume full responsibility for the company's domestic operations. Borreggine, formerly vice president of sales and marketing at Therapedic, joined that bedding producer last year. Michael Pino, formerly Therapedic's president, has been promoted to executive director and president of the company's interna...
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High-end fabrics star at Proposte show
Cernobbio, Italy— Leaving the price-driven business to low-cost countries such as China, Turkey and India, many Italian fabric producers at the Proposte show here this month focused on the types of upscale fabrics for which they are best known. Although business conditions remain challenging, exhibitors and buyers alike appeared to reflect "cautious optimism about general business conditi...
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Salm to direct Douglas' sales
Redondo Beach, Calif.— Ken Salm, a former La-Z-Boy executive, has joined Douglas Furniture in the new post of senior vice president of sales and business development. Salm will oversee all sales and customer service functions, as well as distribution channel development. "Ken's broad background in home furnishings, his strategic skills, and his experience working with manufacturing, merch...
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McCall joins Clayton Marcus
Hickory, N.C.— Mac McCall, a longtime executive at Broyhill, has been named vice president of sales at Clayton Marcus, and will oversee all sales activities for the upholstery producer, which is a unit of La-Z-Boy. "I am very excited about having someone join our organization with such a high level of experience and a proven track record for sales growth," said Mike Delgatti, president of...
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Ligo appoints Smith
Mokena, Ill.— Casual dining, bedroom and occasional importer Ligo Products has named Kelly Smith to the new post of national sales manager. He was with now-defunct casual dining producer Stoneville Furniture for about 20 years, the last 12 as national sales manager. At Ligo, Smith will manage and assist the company's 42 sales representatives as the company seeks to sustain its sales grow...
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Here comes 'valley of death'
Charlotte, N.C.— Industry veteran Fred Schuermann told members of the Furniture Manufacturers Credit Assn. that the United States is turning into Florida — not the place where some of the best furniture stores are thriving, but a nation of graying people soon past their furniture-buying prime.
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Vietnamese pleased with High Point show
High Point— Participants in a Vietnamese exhibition at the April market reported strong buyer interest and said they are enthusiastic about returning to High Point. While a conflict with a furniture fair in Vietnam this October might preclude another trade mission next market, look for a pavilion of Vietnamese manufacturers here in April 2005.
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Thom Filicia to speak at SF market
San Francisco— Interior designer Thom Filicia, one of the "Fab Five" on the television show "Queer Eye for the Straight Guy," will hold a workshop, "A Look Inside the Thom Filicia Design Philosophy," at the San Francisco summer market. The trade-only event July 17 will be sponsored by the San Francisco Mart and Benjamin Moore Paints.
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Maitland-Smith: Vietnam future bright
High Point— Vietnam's rising profile in the U.S. furniture market is no surprise to Paul Maitland-Smith, chairman of Theodore Alexander and a pioneer in developing high-end furniture production in Asia. At the April market, he discussed Vietnam's potential and his company's growth. "A lot of people followed us there, and rightly so," he said.
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