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Furniture|Today -- 05/30/2005
Bedding Today
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Englander's Synergy provides (pressure) map to good sleep
Here, lie down on this mattress and let's see how your profile looks." That invitation from Englander Vice President Dave Clark presented me with what could be a big problem: How would my body look when analyzed by the pressure mapping system on one of Englander's new Synergy beds? In other words, I was worried that I might be the butt of some friendly jokes in the Englander space, if you catch...
Editor's Desk
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If perception is reality, beware
I've been told that people use the Internet not to buy furniture but to gather information. After doing a bit of Web surfing, I think I know why: Some of the information is pretty scary. For example, The Dollar Stretcher...Living Better For Less (www.stretcher.com) has posts from shoppers giving advice on how to find and buy good, inexpensive furniture.
Industry Numbers
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Bestar 1Q sales drop 12.8%; losses cut
Lac-Megantic, Quebec— Ready-to-assemble furniture producer Bestar cited a lack a new product as a major reason for a 12.8% drop in first-quarter sales to C$9.95 million, compared with C$11.4 million in the same period last year. The net loss in the quarter was C$107,000, or 1 Canadian cent per share, an improvement over the net loss of C$246,000, or 2 Canadian cents per share, in 2004's i...
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BMTC 1Q revenues up 3%; net earnings plunge 33.2%
Montreal— Leading Quebec furniture and bedding merchant BMTC said a soft retail environment translated into a first-quarter revenue gain of 3% and a 33.2% drop in net earnings. Revenues in the quarter came to C$172.1 million, compared with C$167 million in the comparable period last year. Net earnings were C$1.
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Dorel expects growth in '05
Montreal— Dorel Inds., parent of ready-to-assemble furniture makers Ameriwood, Charleswood, Cosco and Ridgewood, expects continued growth in 2005. Jeffrey Schwartz, chief financial officer, said, "We anticipate revenues will grow in the range of 5% to 10%, while our gross margin levels are expected to improve marginally as we believe commodity prices will remain at their currently high le...
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Quaker closes on credit deal
Fall River, Mass.— Major mill Quaker Fabric has closed a five-year, $70 million credit deal with Bank of America that will support growth. "Quaker has a broad and aggressive strategy in place to both deal with current market dynamics and to significantly broaden our business base for the future," said President and CEO Larry Liebenow.
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Specialists see revenues rise
San francisco— Specialty retailer Williams-Sonoma here posted first-quarter revenue gains of 12.4%, while Cost Plus World Market, another specialty chain based in Oakland, Calif., recorded a 7.7% first-quarter revenue increase. Williams-Sonoma, parent of Pottery Barn and Pottery Barn Kids, reported revenues of $720.
News
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Young heads new FBI unit
High Point— Furniture Brands International has consolidated three of its high-end companies into a new operating unit headed by Drexel Heritage CEO Jeff Young. The unit, HDM Furniture Inds., includes Henredon, Drexel Heritage and Maitland-Smith. Steve McKee at Henredon and Seamus Bateson at Maitland-Smith will remain presidents of their respective companies.
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Vietnam factories poised for growth
Ho Chi Minh City, Vietnam— Lower-than-expected U.S. duties on Chinese wood bedroom furniture aren't slowing down furniture plants in Vietnam. Looking to secure more business in the U.S. market, factories here are sticking to plans to boost capacity, driven by continuing interest in Vietnam as a source country, particularly for bedroom furniture.
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Serta ads tout FR bed lines
Hoffman Estates, Ill.— Serta is touting its fire-resistant bedding lines with a print ad campaign that supports Home Safety Month in June. The campaign keys on Memorial Day, an important sales period for bedding retailers and other home furnishings merchants. The Sunday, May 22, editions of Parade and USA Weekend magazines ran ads with tip-out cards on Serta's Memorial Day sale, which fea...
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Serta TV ads welcome Sheep No. 1/2
Hoffman Estates, Ill.— Serta's popular Counting Sheep are stepping up their retail focus in a series of new national and retail TV commercials. The commercials welcome the latest — and littlest — star of the flock, Counting Sheep Number 1/2. He sports a set of shiny new braces. The national spots also promote the company's open flame-protected bedding lines with the announceme...
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The Atrium up for sale
High Point— The Atrium Furniture Mall, a longtime retail destination here for out-of-town furniture shoppers, is for sale. The 223,000-square-foot property at 430 S. Main St. is listed on Alpha World Properties' Web site for $27.2 million. On 2.96 acres, the four-story building can be expanded by two floors, or about 90,000 square feet, said Audie Cashion, president of Alpha World Propert...
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Simmons taps supply chain VP
Atlanta— Bradley Hill, a longtime executive with Monsanto and its spinoff chemical business Solutia, has joined bedding major Simmons as senior vice president of supply chain management. He succeeds Allen Podratsky, who has left the company. Hill will be responsible for sourcing the products that go into making the company's bedding.
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La-Z-Boy Chicago mgr. named
Monroe, Mich.— Veteran retail executive Joe Browne has been named general manager of the La-Z-Boy Furniture Galleries stores in the Chicago market. He will oversee day-to-day activities for 14 company-owned stores. Browne previously was vice president of merchandising for Wickes Furniture in Chicago.
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Museum fights budget shortfalls
Lowell, Mass.— The American Textile History Museum's strategic planning committee is taking steps to stay open in the face of budget shortfalls. Jan Russell, trustee and strategic planning committee chair, said the museum here is accepting a $1 million challenge grant from an anonymous donor, selling a building on the condition the museum can lease back part of it, cutting back operations...
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LHFI names Dingmann senior VP
Woodbury, N.Y.— Levitz Home Furnishings Inc. has hired Ward Dingmann as senior vice president of logistics and distribution. He replaces Jerry Tacinelli, who has left the company. Dingmann previously was chief operating officer of LHFI's third-party logistics provider, AtomicBox Logistics, where he spent 15 years in various distribution and logistics operating and consulting posts.
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Simmons' Hellyer named ISPA vice chair
Alexandria, Va.— Simmons President Bob Hellyer has been elected vice chair of the International Sleep Products Assn., and is in line to head the bedding trade association next year. He plays a key role as a top executive at one of ISPA's largest members. Simmons is the only member of bedding's Big Three in ISPA, following the departures of Sealy and Serta.
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WithIt hosting Las Vegas seminar
Las Vegas— To heighten its profile in the western United States, Women in the Home Industries Today (WithIt) is presenting a breakfast seminar here during the inaugural market at the World Market Center in late July. Called Connecting Women and Their Dreams, the seminar is set for 7:30 to 9 a.m.
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LHFI debt downgraded
Woodbury, N.Y.— Moody's Investors Service has downgraded Levitz Home Furnishings Inc.'s debt rating and given it a negative ratings outlook, citing volatility in sales and cash flow, and challenges ahead as its repositions under the Levitz store brand in the Northeast. On the same day, Levitz said it had closed on $20 million in extra borrowing capacity with GE Commercial Finance, a move ...
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Orders calls for unity
Greenville, S.C.— The new chairman of the International Sleep Products Assn. says the greatest issue facing the bedding trade association is maintaining industry unity. "I have grown up in this industry, and the underlying strength for 90 years has been the fact that we have been a unified industry of competitors yet friends," said David Orders.
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King Koil campaign helps fight breast cancer
Hinsdale, Ill.— Bedding producer King Koil is launching a retail marketing effort designed to raise money for breast cancer research. The company is launching its Support The Cure retail mattress events this summer, enabling its retailers to raise money for a worthy cause and to stand out in a crowded, highly competitive marketplace, company officials said.
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Hall of Fame elects Kincaid president
High Point— Steve Kincaid, president of manufacturer Kincaid Furniture, has been elected president of the American Furniture Hall of Fame for 2005–2006. Also elected were Leroy Lail, chairman, Hickory Furniture Mart, Hickory, N.C., as first vice president; Don Belgrad, chairman and CEO of Schna-dig, second vice president, and industry consultant E.
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Radio Building gets upgrade
High Point— The Radio Building, a downtown fixture here since 1922, is undergoing interior renovations aimed at restoring the Art Deco charm that once made the building a focal point of the city. Building Manager Candy Lambeth said she hopes to maintain the current mix of year-round offices and furniture showrooms that occupy the eight-story structure, and add tenants such as a jazz club ...
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IFSA names Mecke Man of the Year
Puerto Vallarta, Mexico— The International Furniture Suppliers Assn. has named Don Mecke its first Thomas K. Dobbins Jr. Man of the Year. He was honored earlier this month during the Western Home Furnishings Assn.'s 45th annual managerial conference, co-hosted by IFSA. Mecke, executive vice president of planning and policy development for Standard Furniture and Kathy Ireland Home By Stand...
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Collins & Aikman files Ch. 11
Troy, Mich.— Collins & Aikman, once a producer of upholstery fabric and now one of the top 15 suppliers to the automotive industry, has filed for Chapter 11 bankruptcy protection, citing a cash crunch. The company, which no longer makes upholstery fabric for the residential market, said it has received $300 million in debtor-in-possession financing from J.
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Consolidated Textiles changes name
Charlotte, N.C.— Fiber source Consolidated Textiles has changed its corporate name to Consolidated Fibers. "Given the evolving nature of our business, we felt now was the time to evolve our company identity," said Bob Kunik, president of the 60-year-old company. "Today, we're sourcing more and more materials that have nothing to do with textiles.
Opinion Today
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Staying in touch can turn minuses into big plusses
Remember my friend who bought a chair at the new Room & Board store in New York City a few months ago? The store where the sales associate looked busy but had all kinds of time for him? Well, there's more to the story. When he got his custom matching chairs, one of them didn't sit evenly on the floor.
Special Report
- Show Report
Nine more exhibitors at Bella Center this year
Copenhagen, Denmark— One of the early numbers reported for this year's Copenhagen International Furniture Fair was a positive one — there were nine more exhibitors than last year, at 363. Camilla Demuth, named last year as the executive in charge of a show previously known as the Scandinavian Furniture Fair, hopes to see further improvements in that figure and other indicators of th...
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Big S brands still top list of bedding majors
High Point— Bedding's traditional Big Four — Sealy, Simmons, Serta and Spring Air — once again stand at the top of the wholesale bedding shipment sales charts. Those conventional bedding producers all turned in solid performances in 2004 and boosted their sales. But the biggest story on Furniture/Today's list of the Top 15 U.
- Hot Systems from April Market
Entertainment sources aim to educate market
High Point— As widescreen TVs, utilizing DLP, LCD and plasma technology continue to drop in price and grow in popularity, furniture manufacturers are working hard to market their home entertainment solutions effectively to both retailers and consumers. "Retailer training and consumer education is very critical in that you no longer can be just knowledgeable about the furniture; you also m...
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Factoring in allowances
High Point— An accounting change, adopted by companies who make filings with the Securities and Exchange Commission, can affect the numbers that bedding producers report to the public. The change, in accordance with Emerging Issues Task Force Issue 01-09, stipulates that companies must record reductions to revenue for customer incentive programs, including volume discounts and promotional...
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Luxury brands face a challenging year
High Point— It was another challenging year for some of the industry's leading luxury bedding brands, which faced a spate of tough competition. Stearns & Foster, the industry's largest high-end brand, recorded its second straight year of shipment declines. According to Furniture/Today estimates, S&F suffered a 7.
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Up-and-coming producers
High Point— Furniture/Today asked bedding producers and suppliers to estimate shipments for almost three dozen bedding companies across the country. Fifteen of those companies are ranked on the newspaper's list of the Top 15 U.S. Bedding Producers. One of those — Symbol of Richmond, Va. - was listed as a contender by Furniture/Today last year.
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About the numbers
High Point— Furniture/Today's ranking of the Top 15 Bedding Producers ranks companies according to 2004 U.S. wholesale bedding shipments. Contract shipments are included in figures, and shipments to Puerto Rico are excluded. EITF 01-9 sales adjustments, including sales allowances and incentives, are also included and are reported in the notes when available.
- Show Report
Danes deign to be sleek, functional
Copenhagen, Denmark— The accent at this month's Copenhagen International Furniture Fair, as usual, was on innovation in design and function. What was different about the show was a new management team this year, with a mission to revitalize the annual event, a showcase for a national furniture industry with a long history and a signature style.
Store Openings
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Tri-City intalls Norwalk gallery
Auburn, Mich.— Kathy and Lee Kilbourn, owners of Tri-City Furniture here, have opened a 3,000-square-foot Norwalk Home Fashion Center in their 8,000-square-foot store. The center showcases 15 groups of Ohio-based Norwalk's best-selling custom upholstery, displayed with occasional pieces and accessories.
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La-Z-Boy adds Ariz. unit
Chandler, Ariz.— A La-Z-Boy Furniture Galleries store has opened here on West Chandler Boulevard. The unit, part of the Top 100 La-Z-Boy dedicated store network, is in the design-focused format of the company's New Generation stores. The 20,350-square-foot store features a broad selection of La-Z-Boy furniture and accent pieces, and includes a design center with a computer-based fabric-to...
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Robb & Stucky store goes casual
Bonita Springs, Fla.— Upscale retailer Robb & Stucky has opened its casual living and outdoor store here in the former Trader's Café on U.S. 41. Conceived by CEO Clive Lubner and President and Chief Operating Officer Fred Berk, the 22,500-square-foot store offers outdoor and casual home furnishings, along with functioning designer kitchens featuring top-of-the-line KitchenAid app...
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