|
|
|
|
Furniture|Today -- 07/04/2005
Bedding Today
-
Consolidation of brands wouldn't be a big surprise
Fasten your seatbelts. This week we offer some shocking possibilities for your consideration. What would you think about Sealy buying Serta? A merger of the industry's Nos. 1 and 3 producers would create a new bedding superpower, with a market share of 35.2%, according to Furniture/Today's latest bedding market share report.
Editor's Desk
-
FBI recruits some outsiders
We're in the furniture business, right? So what would possess a smart guy like Furniture Brands International CEO Mickey Holliman to recruit senior executives from places like the Home Depot and Kentucky Fried Chicken? And recruit them he has. Earlier this year, FBI hired Denise Ramos as senior vice president, treasurer and chief financial officer.
Industry Numbers
-
Hooker 2Q sales dip 3.1%; net income off 11.9%
Martinsville, Va.— Hooker Furniture said upholstered and imported furniture sales increased in its second quarter, but a decline in shipments of domestically produced wood furniture more than offset those gains. Total sales in the quarter ended May 31 were off 3.1% to $88.7 million from $91.5 million in the comparable year-earlier period.
-
Bassett sales rise 3.4% in 2Q
Bassett, Va.— Full-line manufacturer and importer Bassett Furniture Inds. notched a 3.4% sales gain in its second quarter ended May 28 and earned $1 million, despite a significant one-time charge. Sales in the first half of Bassett's year grew 4.4% to $163.8 million from $156.9 million in the same period in 2004.
-
Confidence hits three-year high
New York— For the second month in a row, The Conference Board's Consumer Confidence Index rose in June, posting gains in both the Present Situation Index and the Expectations Index, although home-buying plans slipped slightly. The overall index now stands at 105.8 points, up 2.7 points over May.
Insider's View
-
Vegas: Here come a lot of folks in a lot less space
Ready for a fearless forecast? We predict a record July Las Vegas furniture market by a large margin — in attendance, business written, cookies consumed, beverages guzzled — over any prior Nevada furniture show. Yes, I will be there, just like tens of thousands of other furniture folks, going to the desert in July.
News
-
Macy's Home Stores set Provence shops
New York— Macy's Home Store will create a store-within-a-store in 11 of its furniture departments this month for merchandise from France's Comptoir de Famille. The move is part of Macy's launch of its total home furnishings collection, Provence. The shops will be the American retail debut of Comptoir, said Lester Gribetz, senior vice president, fashion director for Macy's Home Store.
-
Guangzhoushow draws over 99,000
Guangzhou, China— Officials with the China International Furniture Fair said this year's event drew 99,134 visitors from 154 countries. The event, held in two segments between March 18 and March 29, took place in about 2.5 million square feet of space at the Chinese Export Commodities Fair Pazhou Complex here.
-
Sears salutes Karastan, Sealy
Hoffman Estates, Ill.— Karastan's rug and carpet divisions, and bedding major Sealy were the furnishings suppliers presented with the 2004 Partners in Progress awards at Sears and The Great Indoors. Sears presents the awards annually to the top 1% of its suppliers, with superior products and services.
-
Hellyer leaves Simmons
Atlanta— Bob Hellyer, president of Simmons since January 2001, is leaving the company in a management realignment. Simmons said it does not plan to replace Hellyer, whose duties will be assumed by Charlie Eitel, chairman and CEO. The company said the management realignment is designed to streamline reporting of senior executives to Eitel and to maintain Simmons' emphasis on technology and...
-
Kmart launching Martha's RTA
New York— Kmart will launch its exclusive Martha Stewart Everyday ready-to-assemble furniture this Sunday with a big marketing blast including regional circulars, national TV, and features in Martha Stewart publications and on the Kmart Web site. The initial 20-piece collection, under the banner of Everyday Rooms, is part of a Kmart strategy to upgrade its furniture offerings and presenta...
-
Sealy expects to raise $402.5M in IPO
Archdale, N.C.— Bedding major Sealy filed a registration statement with the Securities and Exchange Commission last week in connection with a proposed initial public offering of its common stock. The filing says the company estimates the offering should raise about $402.5 million. Sealy would keep about $149 million, which would be used to pay down debt and terminate its management agreem...
-
Progressive purchase
Claremont, N.C.— Progressive Furniture, an importer of assembled case goods and a division of Sauder Woodworking, has acquired importer Royal Patina for an undisclosed amount. The purchase of Royal Patina, known for fine hand carvings, hand paintings and inlay veneers, will boost Progressive's annual volume to over $150 million, said Dennis Ammons, Progressive president and chief architec...
-
Homestead to shut plant
Broomfield, Colo.— Homestead House will shut down its Touchstone upholstery manufacturing plant in California this month and is looking at its options for exiting the retail business altogether. The Top 100 company has hired Zimmer/Hester Furniture Liquidations, working with Great American Group, as a consultant.
-
BDO: U.S. factory sales to grow 0.9% in 2006
High Point— U.S. furniture factory shipments will keep growing in the second half of this year and next year, but at a slower rate, according to BDO Seidman. The accounting and consulting firm has updated its factory forecast to a 3% gain for this year. Shipments in the first half are estimated to have grown about 4% over the comparable 2004 period, and are projected to rise slightly less...
-
A-America promotes Cantrell
Seattle— Case goods importer A-America has promoted Shawn Cantrell to senior vice president of sales and marketing. He replaces Dave Pinamonti, who is leaving to pursue other industry options. "We appreciate Dave's many contributions to the company and wish him nothing but the very best in the future," said Fred Rohrbach, president and CEO of A-America.
-
Wickes to sell HQ in Wheeling, Ill.
Wheeling, Ill.— Wickes Furniture has agreed to sell its 215,000-square-foot headquarters and showroom here and expects to move into new digs nearby about a year from now. The Top 100 company is selling the property on Dundee Road to Mesirow Stein Development Services for an undisclosed amount. The site will become part of a mixed-use development.
-
Badcock taps Chase, Raff
Mulberry, Fla.— Top 100 retailer W.S. Badcock has hired Mark Chase in the newly created position of category manager of bedding and has promoted David Raff to category manager of floor covering. Chase will focus on sales growth and margin generation in bedding and will be an advisor to the Badcock bedding division.
-
2 execs promoted at Leath
Atlanta— Retailer Leath Furniture has promoted Jolene Takemura to vice president of merchandising and Ray Humphrey to upholstery buyer. Takemura replaces Bruce Hartman, who resigned to pursue other interests. She reports to Leath CEO Ron Phillips. She joined Leath as case goods buyer in 1997 and quickly became national merchandise manager.
-
FBI division asks fabric suppliers for more help
High Point— Furniture Brands International division HDM has sent a follow-up memo to its suppliers, asking for more accommodations in addition to the permanent 7% price cut it requested earlier. The second memo, dated June 10, asked fabric suppliers for 100 yards of each new placement for swatches.
-
Wilkinson joins Marie Albert
Remsenburg, N.Y.— Industry veteran Bob Wilkinson has joined case goods and upholstery manufacturer Marie Albert French & Country Furnishings as vice president of sales. Wilkinson was formerly vice president of sales for Fairfield Chair Co. His initial focus at Marie Albert will be filling open sales territories in the national sales force and establishing a U.
-
OFMA honors Mark Dufresne
Toronto— Some 200 industry people turned out to salute Mark Dufresne, CEO of the Dufresne Group, honored by the Ontario Furniture Manufacturers Assn. at a gala dinner here as 2005 Retailer of the Year. The family-owned and operated Dufresne Group has been named one of Canada's 50 Best Managed Private Companies for the past six years — the time Mark Dufresne has been CEO — and ...
- Obituaries
Obituaries
-
Morales joins New Classic
Rancho Cucamonga, Calif.— Carlos Morales has joined case goods importer New Classic Home Furnishings in the new post of production manager. Morales is the former president and owner of Arbek Mfg., a California-based case goods manufacturer and importer that shut down in 2002. At New Classic, he will oversee product development and quality control in the company's dedicated manufacturing o...
-
Soloniuk named VP at Richloom
New York— Home textiles mill and converter Richloom Fabrics Group has named Glenda Soloniuk to the newly created position of vice president of worldwide sourcing. Soloniuk, who previously was design director of furniture fabrics, will head and expand Richloom's global sourcing network. Using her experience with Richloom's Berkshire Weaving mill, she will source new yarns for that facility...
-
Retail Ideas offering tool for ad planning
High Point— Retail Ideas, a division of Furniture/Today parent Reed Business Information, is offering home furnishings retailers a 2005–2006 Planning Calendar, a comprehensive, powerful computer tool for promotions and sales events. The Planning Calendar, available on CD-ROM, gives retailers a concise, at-a-glance view of their promotional efforts, makes planning easier, compares th...
-
Showtime roundtable on tap for July 10
High Point— The traditional industry roundtable at the Showtime fabric show here is set for 6 p.m. Sunday, July 10, in the sales office at Suites at Market Square. Instituted by Jack Eger of Craftex Mills when he was president of the International Textile Market Assn., the roundtable will be moderated by Carole Sloan, senior contributing editor to Furniture/Today.
-
ITG looking at Vinatex
Greensboro, N.C.— International Textile Group is exploring commercial and operating agreements with Vinatex, an association of 57 textile companies in Vietnam. Wilbur Ross, chairman of ITG, said his company will look at opportunities to invest in new and existing Vinatex facilities. Vinatex stands for Vietnam National Textile Garment Corp.
-
DAK Americas closing Mexican polyester plant
Charlotte, N.C.— DAK Americas, a supplier to yarn producers, is restructuring its polyester staple fiber operations, and will close its Polykron fiber manufacturing plant in Monterrey, Mexico, at the end of July. The facility, in operation for over 40 years, has been a member of the Alfa family of companies since 1975.
-
King Koil signs Middle East licensee
Hinsdale, Ill.— Top 10 bedding producer King Koil has signed Reem Spring as its licensee for Jordan and Lebanon in the Middle East. Reem Spring has been manufacturing sleep products in Jordan and other markets for 24 years. Larry McKay, president of King Koil National, the U.S. division of King Koil Licensing Co.
-
Mount Vernon Mills closing Ala. plant
Tallassee, Ala.— Mount Vernon Mills, a nearly 200-year-old textile producer and parent company of residential upholstery fabric source LaFrance Inds., is closing an apparel textile plant here in September, in the face of growing competition from the Far East. The mill, one of the oldest in the United States, is Tallassee's largest employer with 311 workers.
-
John will direct DWR product development
San Francisco— Design Within Reach has hired consultant Karen John as director of product development, a new post that formalizes the multi-channel retailer's product efforts. John has been consulting with the company since 2003 to help define the vision, strategy and process for product development.
-
American Furniture Warehouse has high hopes for acquired stores
Englewood, Colo.— American Furniture Warehouse expects its acquisition of Homestead House's three Colorado stores eventually will boost American's annual sales by some $60 million. American President Jake Jabs confirmed last week that his company purchased the Homestead House stores in Westminster, Centennial and Fort Collins, Colo.
-
Essenberg joins Magnussen Home
High Point— Industry veteran Don Essenberg has joined case goods and occasional importer Magnussen Home Furnishings as senior vice president of sales. Essenberg, most recently vice president of sales at full-line supplier Broyhill, takes over the responsibilities of Richard Olmeda, whom Magnussen recently promoted to executive vice president.
-
Toronto market meets low expectations
Toronto— It wasn't the most exciting market in living memory, but most factory executives participating in the Toronto Summer Furniture Show earlier this month said the three-day event met their relatively low expectations. "It was a good opportunity for us to bring out some new promotions, introduce some new fabrics and meet with our reps to give them some new tools to kick-start the fal...
Opinion Today
-
Retail giants may change our landscape
The launch of the Martha Stewart Everyday ready-to-assemble furniture collection at Kmart next weekend will bring another 1,000-plus stores into the furniture marketplace in a big way. The collection, called Everyday Rooms, joins Kmart's existing RTA collection and is likely to create a powerhouse statement across the country, supported by Kmart's advertising as well as a not-so-secret weapon, ...
People Today
-
Wolinski, Singer join Profitability Consulting Group
Hillsborough, N.C.— Industry veterans Ron Wolinski and Steve Singer have joined the Profitability Consulting Group in key positions. Wolinski, who has been in retail and manufacturing for 27 years and most recently was director of education and retail services for La-Z-Boy, is vice president of PCG's Performance Groups.
- People on the Move
People on the Move
Executives Textile Fabrics Associates New York — Susan Devany has joined Textile Fabrics Associates, a division of Swavelle/Mill Creek, as fashion director. Devany, who previously was in charge of product development for Swavelle, will work with Michael Day, vice president. Richter Furniture Vernon, Calif.
Special Report
-
'Room in a bag' concept gains steam in upholstery
High Point— The "room-in-a-bag" concept, with seating, occasional, rugs, lamps and other decorative items merchandised as a package, is gaining steam with upholstery and multi-line manufacturers, especially those offering branded collections. Companies have been extremely successful with broad packages that include multiple vendors.
-
La-Z-Boy dealers focus on building brand, catering to customers
Las Vegas— Working inside the luxurious Venetian Hotel to escape the 100-degree desert heat, operators of La-Z-Boy Furniture Galleries stores assembled for their biennial conference to gather ideas for improvement and listen to a variety of top-drawer speakers. Called "The Power of 1," the conference focused on improving each customer's shopping experience, building loyalty to the La-Z-Bo...
-
Breaking from tradition, product debuts in July
Las Vegas— La-Z-Boy took the unusual step of unveiling more than a dozen products at its Furniture Galleries Conference here, signaling a change in its new-product strategy. The company typically has staged nearly all its product rollouts at the April and October markets in High Point, but said that future introductions probably will be spread out over the calendar year to improve deliver...
-
National ad campaign to include Web, print, TV
Las Vegas— La-Z-Boy will launch a new national advertising campaign later this summer that features a heavy schedule of magazine insertions and, for the first time, ads on several Internet sites devoted to home improvement. The campaign, which was unveiled at the company's Furniture Galleries Conference here, also includes a 25-second television spot that dealers can run in local markets.
-
Nido Qubein: Don't just communicate — connect
Las Vegas— Nido Qubein, one of the nation's top motivational speakers, says communicating with your customers isn't enough. "I've chosen to go beyond communicating to connecting," he told La-Z-Boy Furniture Galleries dealers assembled here. "And you can do that, too." Qubein, who's also a prominent North Carolina businessman, became president of High Point University earlier this year.
Store Openings
-
Norwalk installs galleries in Va., Miss.
Norwalk, Ohio— Two stores, in Virginia and Mississippi, have expanded their presentations of custom upholstery from Norwalk Furniture into Home Fasion Centers. House of Oak & Sofas in Harrisonburg, Va., has a 3,500-square-foot Norwalk gallery in its 30,000-square-foot store. The store opened in 1991, selling solid-oak furniture made by the Amish in Holmes County, Ohio.
-
La-Z-Boy reopens in S.C.
Greenville, S.C.— The La-Z-Boy Furniture Galleries store on Woodruff Road here has reopened after a remodeling that brought the unit into conformity with the network's New Generation design-focused format. The 15,578-square-foot store is owned by Byron Brown, Martha Brown and Mike Floyd. Together they own nine La-Z-Boy stores in six markets.
-
Bassett gallery opens in N.C. mall
Hickory, N.C.— An At Home with Bassett gallery has opened inside the Catawba Furniture Mall on Highway 70 here. The gallery features Bassett's John Elway Home Collection. The 10,000-square-foot Bassett installation is owned by Steve and Betty Ikerd and managed by Mary Messineo. The Ikerds also own Designers' Choice Furniture Galleries in the mall.
-
China's Fullrich debuts U.S. lines
Hudson, N.C.— Case goods and upholstery resources Kincaid Furniture and Pennsylvania House, both part of the La-Z-Boy Case Goods Group, have opened galleries in Fullrich Interiors, a store in Shanghai, China. Lee Chain-Hsiang is the owner of Fullrich Interiors, a four-story retail showcase, with about 4,000 square feet each devoted to the Kincaid and Pennsylvania House galleries.
-
Hutson expands to Broyhill gallery
Cape Girardeau, Mo.— Hutson Furniture here has expanded its Broyhill presentation to a 10,000-square-foot Broyhill Furniture Showplace gallery. The 28,000-square-foot store overlooks the Mississippi River in downtown Cape Girardeau. Launched in 1945 by twin brothers Glenn and Lynn Hutson, the store has been a Broyhill dealer for almost 60 years.
|
|
|
