|
|
|
|
Furniture|Today -- 03/07/2005
Bedding Today
-
Retailers say comfort returns are bad for bedding industry
My recent column on the problems with comfort returns was comforting reading to many of you. Favorable e-mails were the order of the day. Then there was this: "Have you taken leave of your senses? This column is a real stinker. Since when is the notion of a satisfaction guarantee a bad one? You refer to dire consequences, but give no evidence.
Editor's Desk
-
May it add up to excitement
Math has never been my forte. When I add 11 and 18, I come up with 1. Let me explain. In our most recent ranking of the Top 25 furniture and bedding retailers, Federated Department Stores is listed as No. 11, and May Department Stores is in the No. 18 spot. But if Federated pulls off its planned acquisition of May, the new entity, with combined 2003 furniture and bedding sales of $1.
Industry Numbers
-
Havertys sales rise, profits fall
Atlanta— Top 100 retailer Havertys said sales rose 5.3% last year, but earnings fell 10.2%, largely due to costs stemming from the closing of several small warehouses. Sales for 2004 totaled $784.2 million and net income was $22.8 million. Fourth-quarter sales reached $216.8 million, up 5.6% from the comparable 2003 period, while net income plummeted 21.
-
Pier 1, Bombay post Feb. sales declines; Havertys up
Fort Worth, Texas— Specialty retailers Pier 1 Imports and The Bombay Company reported declines in same-store sales and revenues for February, while sales at full-line chain Haverty Furniture increased 10.6% as same-store sales gained 6.1%. Atlanta-based Havertys said February sales came to $68.
-
Amisco sales, earnings slump in 4th quarter, year
L'Islet, Quebec— Citing skyrocketing steel prices and Asian competition, metal furniture maker Amisco reported slumping sales and earnings in its fourth quarter and year. Sales in the fourth quarter ended Nov. 30 dropped 8% to C$12.7 million from C$13.8 million in last year's final period. Net earnings plunged 32.
-
Havertys plans stores in three new markets
Atlanta— Havertys plans to open stores in new markets this year in Columbus, Ohio, Indianapolis and Fort Lauderdale, Fla., the Atlanta-based retailer said last week. All three will open in the fourth quarter, as will a fourth store to be announced later, President and CEO Clarence Smith said. The latter location will replace two smaller stores.
-
Bestar 4Q revenues off 8%
Lac-Mégantic, Quebec— Increased Asian competition, rising raw materials and transportation costs and a strengthening Canadian dollar dragged down fourth quarter and yearly revenues and earnings for ready-to-assemble producer Bestar. Revenues in the final quarter came to C$9.7 million, an 8% drop from C$10.
News
-
Correction
A story on page 34 of the Feb. 14 issue on Andrew Peykar's election as president of the Oriental Rug Importers Assn. was incorrectly accompanied by a picture of Alex Peykar.
-
WMC mails 110,000 pieces to buyers
Las Vegas— The World Market Center here has sent its first direct-mail piece to more than 110,000 prospective attendees for its inaugural furniture market in July. The mailing to U.S. and international retailers and buyers follows the creative direction of the WMC's recent trade advertising campaign and encourages buyers to register and book hotel rooms well in advance of the July 25̵...
-
Consolidation a vintage bedding story
High Point— The consolidation of licensees at Spring Air continues a trend that has swept through the bedding industry in the past two decades. In the 1980s, a powerful Sealy licensee, Ohio-Sealy, went on an acquisition binge that saw it gain control over licensor Sealy Inc. When the dust had settled, Ernie Wuliger's Ohio-Sealy licensee largely had changed Sealy from a licensing organizat...
-
Spring Air merger
Miami— H.I.G. Capital, aiming to consolidate all the U.S. Spring Air licensees, has used its portfolio company, Spring Air Partners-North America, to acquire major licensee American Bedding Inds., which serves Florida, Ohio, Indiana and Kentucky. The deal combines Partners, the largest Spring Air licensee, with the second-largest Spring Air licensee, and creates a new company, Tampa, Fla.
-
FR regs face delay
Greensboro, N.C.— The U.S. Consumer Product Safety Commission will be getting a new commissioner, but officials say they don't know exactly when she will take her place. Key CPSC initiatives, such as setting a final standard on a national open-flame mattress regulation and possible action on a proposed upholstered furniture flammability standard, apparently will have to wait until the com...
-
Federated-May No. 1?
New York— Federated Department Stores' pending acquisition of rival May Co. is likely to create the largest U.S. furniture and bedding retailer. Eventually, it's also likely to raise the furniture fashion profile and price points at May stores, which, with the exception of Marshall Field's, are more promotional in approach than the Federated brands, industry observers believe.
-
High hotel rates anger Tupelo visitors
Tupelo, Miss.— High hotel rates — a common complaint among some visitors to the High Point market — also are raising the ire of some Tupelo Furniture Market attendees. In an article in a Tupelo-based newspaper, the Northeast Mississippi Daily Journal, several buyers complained about the high cost of staying in Tupelo.
-
Brazilian group to show 2nd time in High Point
High Point— AFECOM, the Brazilian Furniture and Upholstery Assn., has signed a three-year lease for a 2,000-square-foot showroom on the third floor of Showplace to display products from some of its 21 member factories. It will be the second High Point showing for the coalition, which showed in a temporary 1,200-square-foot space in the Radisson Hotel in October.
-
ASFD sets new award for young designers
High Point— The American Society of Furniture Designers will honor talented young furniture designers with a new President's Award, to be presented annually in conjunction with the Pinnacle Design Achievement Awards. The new award will honor the memories of the late Alan Friedman and Roger Schneeman, both former ASFD presidents, said Karl Felperin, a California-based furniture designer an...
-
Jeffco shifting sourcing
White Plains, N.Y.— High-end case goods and upholstery resource Jeffco has shifted sourcing from its longtime base in Europe to mostly Asia. The move doesn't affect operations at Jeffco's Hildebrand, N.C., plant, which makes upholstery and does finishing on sourced case goods, occasional furniture and components for exposed-wood seating, and also produces some wood pieces.
-
'04 orders, shipments up 6%
High Point— Despite a rise in direct imports, orders and shipments from U.S. furniture factories grew 6% in 2004, according to BDO Seidman. In its final monthly report for the year, the accounting and consulting firm said its survey of residential furniture factories indicated that orders in December were up 3% from December 2003 and shipments rose 9%.
-
Klaussner's Jeff Davis raises $136,000 for kids' charity
Asheboro, N.C.— Klaussner Furniture's Jeff Davis completed his first marathon a few weeks ago and also accomplished something even bigger, raising $136,000 for a local camp for chronically ill children. After Davis committed to running in the Jan. 31 Las Vegas Marathon, he set a goal of raising $1,000 for every mile of the 26.
- Obituaries
Obituaries
-
Leather players watching merger closely
High Point— Leather upholstery resources are watching closely the proposed Federated-May department store merger. LeatherTrend, Natuzzi and Chateau d'Ax are among leather makers selling to both retailers. Executives fear the merger could lead to stores closings, reducing the floor space devoted to product.
-
CPSC analysis: FR mattress standard could save over 300 lives per year
Greensboro, N.C.— A U.S. Consumer Product Safety Commission staff analysis estimates that a national open-flame mattress standard could save more than 300 lives a year. Allyson Tenney, a CPSC official, included that estimate in her presentation at a well-attended flammability workshop here hosted by the American Home Furnishings Alliance.
-
Natale steps up leathers
High Point— Italian leather upholstery maker Natale is stepping up to better leathers while holding prices steady. "There is a big void in the market (for) better leathers," said CEO Gabriele Natale. "We can produce better leathers at competitive pricing." Steve Riddle, newly named national sales manager for Natale's U.
-
Robb & Stucky to enter new markets
Tampa, Fla.— Robb & Stucky is ready to grow again, with new full-line and patio stores planned for Palm Beach Gardens, Fla. The company also has an eye on other new markets. The 17-store upscale retailer will open an 80,000-square-foot store as an anchor in a home furnishings-oriented lifestyle center under development in growing Palm Beach Gardens, north of West Palm Beach.
-
Lexington cuts wood workforce
Lexington, N.C.— Full-line manufacturer and importer Lexington Home Brands last week cut back operations at its last domestic case goods plant here, laying off 65 workers. Lexington cited lower demand for domestic goods, which had resulted in higher inventories and reduced worker hours. "While our overall business in the first quarter to date has been strong .
-
Hooker creates supply chain department, hires manager
Martinsville, Va.— Full-line manufacturer and importer Hooker Furniture has created a new Department of Supply Chain Management and hired Tim Grabus to head it as director of supply chain management. The strategic move will ensure that Hooker dealers have "the right product at the right time to maximize their sales," said Doug Williams, president and chief operating officer.
-
FFDM names design director
High Point— Lesli Chastain has joined case goods and leather upholstery resource Fine Furniture Design & Marketing as director of product design. Chastain most recently worked with Palliser as design manager. Prior to that, she was a furniture designer and stylist at Otto & Moore, where she was instrumental in the direction and styling of licensed collections including Country Liv...
-
Natco payout settles Weave claim
Hackensack, N.J.— Fabric designer and weaver Weave Corp. said it has received payment from Natco Products to settle Weave's claim of infringement against its pattern U12003. Natco, a Providence, R.I.-based manufacturer of home fashions, admitted that a decorative pillow it imported from China included an illegal copy of the Weave pattern.
-
Caye boosting motion output
Amory, Miss.— Caye Home Furnishings, parent of Stratford, Stratolounger and Simmons Upholstery, has enlarged its factory here to increase motion upholstery production. President Herb Hester said the facility, which went from 75,000 square feet to 125,000 square feet, brought its new capacity online in mid-January.
-
Therapedic to market line of Kathy Ireland mattresses
Middlesex, N.J.— Therapedic will market a line of mattresses under the Kathy Ireland banner, tentatively set to debut at the Las Vegas market in July with over 12 models and retails ranging from $599 to $1,299. Kathy Ireland Home by Therapedic aims to bring innovative bedding products to key bedding decision-makers: women.
-
Aaron buys 6 RTO franchise stores in N.Y.
Atlanta— Rental and rent-to-own major Aaron Rents said it has acquired six Aaron's Sales and Lease Ownership franchised stores in New York state. The stores were acquired from RNTL Holding Inc., an Aaron's franchisee since 1996. The company said the purchase price was $7.3 million, subject to final adjustments.
Opinion Today
-
The worst of times ... or the best of times?
I recently heard a furniture veteran admit he was tired of being on the manufacturing side of the industry. "It's all about retail today," he said. With manufacturers opening stores and retailers buying directly from offshore sources, it's easy to believe that might be true, to wonder how everything shifted so quickly and to wish we all could capture a bigger piece of consumers' interest in hom...
-
What Federated, May merger may mean
The long courtship between Federated Department Stores and May Department Stores finally ended last week, with the former set to acquire the latter. The deal includes a bonus for Federated: It gets the marquee Marshall Field's stores that May bought last year by outbidding Federated. There are those who feel this was inevitable, given the bigger-is-better mentality these days.
Special Report
- Latin American Sourcing
Latin American sourcing
High Point— When industry officials talk about China, they often speak with a sense of awe at its sudden emergence as a furniture producer. The growth has taken the industry by storm over the past 10 years with products that often match the quality of furniture once made in the United States. The difference is that China's cheap labor has lowered the price for many goods.
-
Fabric protectants build sales
High Point— As seating sales go, so go the fortunes of the stain protection industry. Based on consumer surveys, the sale of stationary sofas is expected to top $10 billion this year, and other seating segments are expected to show consistent, if somewhat modest, growth. That should bode well for fabric protectants, according to several leaders in the field.
-
Performance fabrics don't hurt market
High Point— Despite claims of soil resistance and cleanability, the growing popularity of microdenier suedes and performance fabrics doesn't seem to be cutting into the business of fabric protectant companies. "We have a treatment for microfiber that actually helps it work a little better," said Yvonne Smith, executive vice president of Ultrashield.
-
Miskelly's puts fun in furniture shopping
Pearl, Miss.— Miskelly brothers Chip, Oscar and Tommy tell a story that at first, may sound like a stretch. Recently, a manager of their newly renovated and expanded store in this Jackson, Miss., suburb was at a local shopping mall when he overheard a mother coaxing her child in a shoe store. "If you're good and try on these shoes," she said, "I'll take you to Miskelly's.
- Latin American Sourcing
Communication key to building relationships
High Point— When sourcing furniture in Latin America, communication is a key ingredient to building relationships and —- quite simply — getting the job done right. In that respect, it is no less important a skill than what is necessary to be successful sourcing in Asia. Making things a little easier in Latin America are several factors, not the least of which is distance.
-
Robb & Stucky stands tall in mall
Tampa, Fla.— When Lance Hanish arrived for the opening of Robb & Stucky's newest store in the International Plaza mall here, he saw it was in great company — with Nordstrom as one anchor to the left of the Top 100 company and Neiman Marcus to the right. "And I thought: This is going to be a great day for the furniture industry," said Hanish, chairman of LBC Advertising, which ha...
- Latin American Sourcing
Proximity to U.S. market can be an edge — or not
High Point— When people talk about Latin America as a great place to source furniture, they consider its location a key strength, particularly compared to Asia, where long flights and container times on the water are the norm. But in some cases — Brazil's in particular — that strength has diminished, thanks to container shortages and limited shipping capacity in that part of t...
- Latin American Sourcing
Major leather producers set up shop in Latin America
High Point— Ample supplies of hides and skilled labor have prompted major leather upholstery makers to set up shop in Latin America in recent years. Italy-based majors Natuzzi and Incanto Divani own and operate plants in Brazil, while San Diego-based LeatherTrend has leather and fabric upholstery production facilities in Mexico.
- Latin American Sourcing
Ownership stakes provide greater control
High Point— An ownership stake in the means of production gives any marketer greater control over product design, quality and distribution. Several models exist for proprietary Latin American sourcing of furniture targeted to the U.S. market. For U.S. companies, these include joint ventures with Latin American manufacturers and outright ownership of factories in the region.
- Latin American Sourcing
Primex focuses energy on Latin American goods
New York— A host of furniture importers draw upon Latin American sourcing, but many count the region as just one arrow in a quiver full of options. New York-based Primex, however, decided early on to be a go-to player in Latin America for retailers, distributors and catalog merchants. Incorporated in 1972, Primex sources furniture, home textiles, tabletop accessories and apparel in Argent...
- Latin American Sourcing
Methodology for the product source list
High Point— Furniture/Today's exclusive report, Latin American Sources, identifies some of the major North American importers bringing in product from Latin America. The list is not comprehensive. It is meant to serve as a resource to readers in helping identify key Latin American importers. To qualify for the listing, companies must import finished goods from Latin America and have a U.
- Latin American Sourcing
Product sources
American Woodcrafters U.S. homebase: High Point Phone: (336) 861-0003 Fax: (336) 861-0010 Products: master/adult bedroom, youth bedroom Source countries: Chile (65%), Indonesia (35%) Shipment options: full containers, mixed containers. 30% shipped from U.S. warehouse, 70% shipped from Latin American facility.
|
|
|
