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Furniture|Today -- 07/19/2004
N.Y. rug market for Sept. 19-23
NEW YORK -- Metro Rug Alliance, a new trade organization, will conduct its first Metro Market Week Sept. 19-23.
Magnussen builds new headquarters
NEW HAMBURG, Ontario -- Furniture designer and importer Magnussen Home has built a new office building here for its corporate headquarters, and is leasing space to other companies as well.
Jennifer posts profit as revenues rise
WOODBURY, N.Y. -- Sofa-sleeper specialty retailer Jennifer Convertibles reported revenues of $35 million in its third quarter ended May 29, a 16.3% increase over the comparable 2003 quarter's $30.1 million.
Serta to Senate: FR sells well
WASHINGTON -- Serta's Al Klancnik, the only bedding industry representative who testified last week at a Senate committee hearing on the flammability of home furnishings products, said his company has achieved success with its new fire-resistant bedding lines.
Peterson defends U.S. factories
HANOVER, Pa. -- One small Pennsylvania case goods company has become a mighty voice for making furniture in America.
Bedding Today
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Mid-year assessment reveals a tough climate
A not-so-funny thing happened to bedding business this year: It took a tough turn. A year that some had predicted could be a breakout (translation: huge) year for bedding has turned into a difficult year. Retailers are struggling to chalk up gains. Producers are shaking their heads and wondering what went wrong.
Business Today
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Sealy sales jump 17.3% in 2nd quarter
Archdale, N.C.— Bedding market share leader Sealy's sales climbed 17.3% in its second quarter ended May 30, thanks to gains in unit sales and average unit prices, and to successful product rollouts, the company said. Sales of $316.6 million were up from $269.8 million in the same quarter a year ago.
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Select Comfort stock slides after forecast
Minneapolis— Select Comfort's stock price plunged 25% last week after the airbed manufacturer and retailer reduced its earnings forecast for the year. Earnings per share for the full year are now expected to come in at 88 cents to 93 cents, down from the April forecast of 92 to 95 cents. The company also reported that second-quarter sales rose 22% from the same period last year to $124.
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Jennifer posts profit as revenues rise
Woodbury, N.Y.— Sofa-sleeper specialty retailer Jennifer Convertibles reported revenues of $35 million in its third quarter ended May 29, a 16.3% increase over the comparable 2003 quarter's $30.1 million. The company posted net income of $1.3 million in the quarter, compared with a net loss of $1.
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Stanley earnings soar 47.4%
Stanleytown, Va.— Case goods producer and importer Stanley Furniture recorded sales of $70.7 million in its second quarter ended June 26, a 15.2% increase over $61.4 million in last year's comparable quarter. Profits skyrocketed 47.4% to $5.2 million from 2003's $3.5 million. For the first six months, Stanley posted sales of $140.
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Financial results
News
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New group sets N.Y. rug market for Sept. 19–23
New York— Metro Rug Alliance, a new trade organization, will conduct its first Metro Market Week Sept. 19–23. Buyers will be offered free transportation in and around metro New York/New Jersey to visit more that 30 rug companies that are MRA members. Formed earlier this year, Metro Rug Alliance is a collaboration of producers and importers based in the greater New York City region.
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Nourison launches online mag
Saddle Brook, N.J.— Nourison has launched Home Profiles, an online fashion magazine for carpets and rugs. The magazine shows consumers how rugs and carpeting can set the tone for a room's decorating scheme. The company's Web site, www.nourison.com, continues to allow visitors to view rugs by collection, design category, color and shape.
- Our Community
Bay Furniture helps St. Jude home
Chicago— Bay Furniture here partnered with St. Jude Children's Research Hospital to furnish the new St. Jude Dream Home at Terra Springs in Volo, Ill. The entire home, including land and furnishings, was raffled off during a TV broadcast on June 27. Beforehand, the home was open to the public and as many as 10,000 visitors were expected to tour it.
- Our Community
Canada's The Brick backs sports equipment for kids
Edmonton, Alberta— The Brick will donate C$325,000 to Sport Central, a non-profit group that gives sporting equipment to needy children in central and northern Alberta and the Northern Territories. Canada's largest furniture and bedding retailer made the announcement during the 15th edition of The Brick Super Novice Invitational Hockey Tournament, held here June 30–July 4.
- Our Community
RAC effort scores big
Plano, Texas— Rent-A-Center raised $244,425 during its 2004 campaign for Big Brothers Big Sisters of America. Rent-A-Center Chairman and CEO Mark Speese presented a check to the non-profit organization during its centennial celebration in New York City. For the second year in a row, customers at Rent-A-Center stores contributed a dollar and signed their name to paper eggs that were displa...
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McCallum, Becker leave C&A board
Troy, Mich.— Elkin McCallum, owner of Joan Fabrics, has stepped down as a director of Collins & Aikman, a fabric producer based here that supplies the automotive industry. Another board member, Charles Becker, also resigned. McCallum owns 6.1% of Collins & Aikman and Becker owns 9%. Collins & Aikman CEO David Stockman said the resignations were unrelated to a probe of McCallum...
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Firms gear up to open furniture stores in West
Los Angeles— A company here says it is acquiring nearly half of furniture distributor Ironwood Furnishings and plans to open several stores. Innovation Holdings, formerly Blagman Media International, said it has been looking to diversify, and previously announced a partnership with CrossGel Inc.
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Storis user conclave set
Parsippany, N.J.— Retail technology company Storis Management Systems has scheduled its users' conference Sept. 9–11 at the Hilton Parsippany here. The company said the conference, "EnVision the Future," will focus on education. The addition of more educational and networking seminars will enable retailers to learn more in less time, Storis said.
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BHFC plans to liquidate
Lancaster, Pa.— Top 100 company Breuners Home Furnishings Corp. filed for bankruptcy protection last week and plans to liquidate all 47 stores. The parent of Breuners on the West Coast and Huffman Koos and Good's Furniture in the Northeast sought Chapter 11 bankruptcy protection in Delaware after failing to reach agreements with potential strategic buyers, said BHFC CEO Joe Reddington.
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ISPA: FR bill bad for sales
Washington— A top bedding official says a federal bill proposing tough new mattress flammability standards would raise bedding costs so sharply that mattress sales would drop by 25% or more. David Orders, an executive with Park Place Corp. who is vice chairman of the International Sleep Products Assn.
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Microfibres honored for health, safety effort
Winston-Salem, N.C.— Microfibres, a supplier of nylon velvet upholstery fabric, has been recognized for its commitment to workplace health and safety with a Carolina Rising Star Safety Award from the North Carolina Department of Labor. The award requires that a worksite's three-year average recordable and lost-time accident rate must be below the most recent state rate for all textile ind...
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Corrections & Amplifications
A photo caption for a fabric from Belgian mill Ragolle on page 58 of the July 12 issue incorrectly identified the mill's U.S. sales agent. It is Ragolle at Purcell International.
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Dorel system will double futon mattress production
Montreal— Dorel Inds. has installed technology that will double production of futon mattress pads to 1.4 million units annually at its Dorel Home Products plant here. The new Airlaid system, developed at a cost of $4 million in conjunction with French equipment maker Laroche, uses natural, recyclable cotton fibers.
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Magnussen builds new headquarters
New Hamburg, Ontario— Furniture designer and importer Magnussen Home has built a new office building here for its corporate headquarters, and is leasing space to other companies as well. Located on the former site of the company's manufacturing operations, the facility is going up in three stages, with the first phase now complete.
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Kayser leaves Pacifica/Prime
Glenview, Ill.— Maureen Kayser has left Pacifica Leather, the upholstery division of Asian importer Prime Resources International, to start her own business in an unrelated industry. She joined Prime Resources in early 2003 as vice president of merchandising. Kayser previously had been with Italian leather upholstery maker Divania, following five years as upholstery buyer at retailer Rhodes.
- Bedding Benchmarks
Sealy supports Olympic athletes
Archdale, N.C.— Sealy is taking its status as the official mattress supplier of the 2004 U.S. Olympic team a step further by providing even more support for some of the nation's top athletes. Through its "Sealy Supports America's Best" program, Sealy has made sponsorship agreements with 12 athletes in a variety of Olympic sports, including track and field, swimming and women's soccer.
- Bedding Benchmarks
Kingsdown gets two awards from Aussie chain
Mebane, N.C.— Kingsdown received two Product of the Year awards at Capt'n Snooze's annual awards program in Australia. Headquartered in Melbourne, Capt'n Snooze is Australia's leading specialty bedding retail chain. Founded in 1974, the chain merged with franchised bedding group Bedpost in 1992 and today has 77 stores throughout the country.
- Bedding Benchmarks
Tempur-Pedic offers wedding registry
Lexington, Ky.— Brides and grooms-to-be now can add mattresses to their wedding registry list, with Tempur-Pedic's online wedding registry. Located at www.tempurpedic.com/wedding, the service offers friends and family the opportunity to contribute money to an account for the purchase of Tempur-Pedic products, including mattresses and pillows.
- Bedding Benchmarks
Plummer, Roe elected to Restonic's board
Rosemont, Ill.— Raymond Plummer and Richard Roe have been elected to the Restonic Mattress board of directors. They replace Peter Gennet and Mort Kamien. Plummer is a retired commander in the U.S. Naval Reserves. He held an executive management position at Wolf Furniture in Altoona, Pa., and was president of Art Van Furniture in Michigan before launching his own consulting firm.
- Bedding Benchmarks
Childrens' camp in California receives 330 beds from Serta
Itasca, Ill.— Serta has donated 330 mattresses to The Painted Turtle, a new 173-acre camp for chronically and seriously ill children in Lake Hughes, Calif. Actors Paul Newman, Bruce Willis, Jack Nicholson and other celebrities joined guests on May 22 to dedicate The Painted Turtle. The camp is the sixth Hole in The Wall camp founded by Newman.
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Bob's Discount opens newest store in Maine
South Portland, Maine— Bob's Discount Furniture has opened its 21st store at 333 Clark's Pond Parkway in this city. The 57,000-square-foot store and clearance center continues the expansion of the Manchester, Conn.-based New England chain. Like other Bob's, the new store offers free gourmet coffee, candy and ice cream at all times, just for stopping in.
- Bedding Benchmarks
JCPenney again salutes Spring Air
Plano, Texas— Spring Air has been named Supplier of the Year by the home division of JCPenney. Spring Air previously won the award in 2001 and is the only supplier in the home division to have won the award twice. This is the fifth year for the awards. Winners are determined based on merchandising leadership, product development, quality standards, quick response, compliance standards and...
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John Charles Designs: Quick-move artists
Buena Park, Calif.— Upholstery producer John Charles Designs may be a record-setter when it comes to moving. The company, which makes contemporary and transitional upholstery, recently moved from its factory in nearby Cerritos to a new factory in Buena Park, famous for Knotts Berry Farm and other attractions.
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Golfers raise nearly $15,000 at Rosenberg memorial event
Syosset, N.Y.— More than 100 golfers hit the links at Woodcrest Club here May 17 for the 2004 Annual Greater New York Home Furnishings Assn.'s Alan Rosenberg Memorial Golf Classic. The event honored the memory of association member Alan Rosenberg, the late CEO of Levitz Home Furnishings Inc., and raised $14,800 for the Alan Rosenberg Memorial Fund for Cancer Research.
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Serta to Senate: FR sells well
Washington— Serta's Al Klancnik, the only bedding industry representative who testified last week at a Senate committee hearing on the flammability of home furnishings products, said his company has achieved success with its new fire-resistant bedding lines. "Since last October, when we began introducing our open-flame resistant products, we have sold approximately two million safer mattr...
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BHFC demise called blow to industry
Lancaster, Pa.— Several key suppliers of Breuners Home Furnishings Corp. last week lamented the upscale retailer's impending liquidation, not only in light of their own unsecured claims but as a blow to the industry. Dave Carpenter, director of financial services for La-Z-Boy's Greensboro, N.C.
Opinion Today
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Geico's gecko may know a thing or two about us
If you spend any time watching TV, chances are you've seen more than one commercial from Geico, the Warren Buffett-owned insurance company. They're the folks who helped boost their visibility and profits with the help of a wise-cracking gecko who is constantly forced to correct hapless souls who confuse the words "gecko" and "Geico.
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'C' word returns in the 'F' business
What a difference a year makes! The decorative fabric business has taken a 180-degree turn in color, fabrics and design, and that was quite evident last week at Showtime in High Point. Color was clearly the most important statement — lots of color! The more color the merrier! It's amazing how long it takes this country to react to global trends.
People Today
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Herb and Robert Levitz, Zylak honored by Leda
Toronto— Case goods manufacturer Leda Furniture has honored three of its top sales representatives. The father-son sales team of Herb Levitz and Robert Levitz received the Steve Karp Spirit Award, named in memory of the company's longtime New York area rep. The Levitzes cover metro New York, New Jersey and Connecticut.
- People on the Move
People on the Move
Awards STI Kings Mountain, N.C. — Jeff Davis has joined upholstery fabric producer STI as a designer. He was previously a weave development technician at Mastercraft Fabrics. At STI, he joins designers Laura Allred and Charlotte Harbison and reports to John Kay, vice president of product development and marketing.
Special Report
- Show Time Report
Leather makers fight back with style, value
High Point— While the pressure from Chinese competition continues, leather suppliers exhibiting at Showtime here last week believe it's not all bad. Many tannery executives said China has spurred them to become more innovative in style, color, price and value. Leather resources largely tied to South America made a big push at market with fashion palettes strongly evocative of colors seen ...
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Recliner keys: Price and comfort
High Point— A quick glance at furniture ads in any weekend newspaper shows that price is a key driver in recliner sales. It's rare when an ad doesn't tout a "buy one, get one free" sale, or a "special purchase," or "prices too low to advertise." However, producers have discovered another key sales driver — comfort — that may be just as important as price.
- Show Report
Rugs parade fresh designs
Atlanta— Last week's rug market here was normal for a summer show, with traffic sparse and new product mainly additions to successful collections introduced in January. No one called the event a failure. The major buyers were here, and there was plenty of time to plan fall programs. Many vendors also used the slower pace of this show to get feedback on lines slated for winter introduction.
- Show Report
Retailers recognized
— The rug industry's annual Retailer of the Year Awards were presented at a gala during last week's rug market here. Winners were recognized in six categories: The awards are co-sponsored by the Oriental Rug Retailers of America and AmericasMart Atlanta.
- Show Report
Shaw to split sales force
Atlanta— Major rug resource Shaw Living is creating separate sales forces for its two key distribution channels — its core independent floor covering, furniture and area rug stores on the one hand, and multi-store chains and home centers on the other. "We currently are building a new sales force which will call on the chains and home centers," said Jeff Meadows, vice president of th...
- Show Report
Furniture proving Atlanta growth star
Atlanta— While this month's Atlanta International Gift & Home Furnishings Market was by most accounts not as strong as the January market, exhibitors here were generally pleased with attendance and the chance to meet buyers they don't typically see at other shows. With over 1 million square feet of permanent showroom space and 1,100 temporary booths devoted to furniture and home furni...
- Show Time Report
Novel, colorful fabrics take center stage at Showtime
High Point— Summer Showtime 2004 was notable for two things: the best-looking, most innovative fabric introductions in years, and a conflicted atmosphere created by vendors and buyers who were generally upbeat but couldn't completely forget recent stagnant retail business. The official word on the show came from Catherine Morsell, executive director of the International Textile Market Assn.
- Show Time Report
Unifi's Textra combines appeal with performance
High Point— Yarn source Unifi introduced a yarn called Textra at Showtime that it says offers the appearance of natural slub yarns like silk, linen and cotton, but with the performance attributes of synthetics. "Textra is an economic alternative to linen or cotton, yet it mimics the appealing irregularities found in natural fibers," said Ron Mangrum, business unit director of dyed and air...
Store Openings
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Drexel store launched in Texas
Southlake, Texas— A 25,000-square-foot Drexel Heritage store has opened in this Dallas/Fort Worth suburb. Co-owner Buzz Burnett, a third-generation furniture retailer, plans to open a Drexel Heritage store in Denver and a second unit in metro Dallas next year. He co-owns the Southlake store with his wife, Marie.
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DOTI opens Illinois showroom
Winnetka, Ill.— Designs of the Interior, or DOTI, has opened a store here, owned and operated by former advertising executive Rich Lalley and his wife Dyan, an artist most recently with Timothy Grant Jewelry in Lake Zurich. The store's design staff is led by designer Martin Spicuzza, former proprietor of The Spicuzza Collection showroom in Chicago's Merchandise Mart district.
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Studiorowe debuts in Hawaii
Kahului, Hawaii— Rowe Furniture has installed a 3,000-square-foot studiorowe custom upholstery gallery at 20,000-square-foot BJ Furniture Mart here on the island of Maui. BJ Furniture Mart was established in 1908 by the Wo family, and mixes well-known brands and antiques from around the world. They became a Rowe dealer in 2003.
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La-Z-Boy reopens N.Y. store
Monroe, Mich.— La-Z-Boy has reopened its La-Z-Boy Furniture Galleries store in Middletown, N.Y., on Schutt Road Extension. The 15,601-square-foot store was renovated to reflect the company's new generation format. David and Marty Katz, and Keith and Arlene Woronoff own the store.
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N.C. home design center on tap
Greensboro, N.C.— Ground has been broken on The Home Design Emporium at New Garden Village off Old Oak Ridge Road here. The complex will consist of five buildings that resemble homes in area communities, and will feature shops, showrooms, manufacturers' displays, home product kiosks, and architectural/design studios and offices.
Up Front
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Bassett to Congress: Help us battle illegal imports
Washington— The federal government should do more to help U.S. businesses protect their rights under trade laws to fight illegal imports, John Bassett told a Congressional committee last week. Bassett, president and CEO of case goods manufacturer Vaughan-Bassett Furniture and chairman of the Committee for Legal Trade, which won preliminary duties against Chinese bedroom furniture imports,...
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Sears seeking new store chief
Hoffman Estates, Ill.— Sears is looking for a new retail president to oversee both full-line stores and a growing number of off-mall units. Mark Cosby, who had been president of full-line stores, is leaving the company and his position has been eliminated. Sears said it is creating a new position with broader responsibilities to reflect its growth strategy.
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Serta taps Rachid, Sigal
Itasca, Ill.— Bedding producer Serta has promoted John Rachid to vice president and brand manager of its Masterpiece Sleep Products subsidiary, and hired Ron Sigal to replace him as sales manager on Serta's national accounts team. Both report to Jeff Van Tuyle, senior vice president of sales. Rachid, a 13-year industry veteran, has been Serta's vice president of national accounts for six ...
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Orr gets O'Sullivan operations post
Lamar, Mo.— Ready-to-assemble manufacturer O'Sullivan Inds. Holdings has named Michael D. Orr, a Newell Rubermaid veteran, as executive vice president of operations. Orr will be responsible for manufacturing and supply chain management at O'Sullivan Furniture. He reports to Bob Parker, O'Sullivan president and CEO.
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Hayim is Rug Décor chief
Manchester, N.H.— Scott Hayim has been named president of Rug Décor, according to Howard Brodsky, co-CEO of CCA Global Partners. Rug Décor, an 18-unit chain of rug specialty stores, is an affiliate of CCA Global. Hayim most recently was director of new business development for ProSouce, also a CCA Global affiliate company.
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Claridge names Nunnally VP of sales and operations
Chula Vista, Calif.— Jack Nunnally has joined Claridge Textile International as vice president, sales and operations, a new post. Nunnally most recently was vice president of sales for Venus Inds., a trimmings manufacturer. Earlier he was in sales management with Barrow Inds., Sandown & Bourne and Showcase Fabrics.
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Sedlak waves flag with 'Made in America' sale
Solon, Ohio— No one has to ask John Sedlak twice for his take on the Chinese bedroom antidumping issue that has divided the industry. The president of retailer Sedlak Interiors here is all for boosting the price of Chinese imports. Anything less than the nearly 11% average import duties preliminarily assessed to a large class of the bedroom importers is "not enough," he said.
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Peterson defends U.S. factories
Hanover, Pa.— One small Pennsylvania case goods company has become a mighty voice for making furniture in America. Michael Peterson, president and owner of Madison Square, a high-end producer of accent furniture and case goods, was featured this month on CNN's "Lou Dobbs Tonight," explaining the importance of bucking the trend of taking manufacturing overseas.
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Latex Foam taps Lorelli for CEO
Shelton, Conn.— Industry supplier Latex Foam International has named as its new president and CEO Michael Lorelli, an executive with experience leading Fortune 100 businesses and private companies. He replaces Steve Russo, who resigned earlier this year to spend more time with his family and pursue other interests.
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