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Furniture|Today -- 04/29/2006
Market Daily
- High Point Market
Valspar 1Q sales jump 13% to $629.8M
Minneapolis— Coatings supplier Valspar reported a 13% jump in sales in its first quarter, with earnings nearly doubling. The company had sales of $629.8 million in the quarter ended Jan. 27, up from $557.1 million in the comparable 2005 period. Net income soared 92.7% to $22.5 million from $11.
- High Point Market
K&V gains 4.4% in 3Q sales
Grand Rapids, Mich.— Supplier Knape & Vogt posted sales gains of 4.4% and 6.5% in the quarter and nine months ended April 1. Sales in the latest quarter were $41.9 million, compared with $40.2 million in the comparable 2005 period, and sales in the nine months were $123.6 million in 2006 and $116 million in 2005.
- High Point Market
Evolution opening fourth store
Oakland, Calif.— Evolution Home Furnishings, an independently owned, contemporary home furnishings retailer in the San Francisco Bay Area, will open its fourth retail showroom in San Carlos, Calif. The showroom will feature 12,500 square feet of furniture, rugs, lighting and accessories. It also will house a 2,500-square-foot Pasquale Natuzzi Gallery, showcasing an exclusive assortment of...
- High Point Market
Motion buyers respond to fresh round of product
At The Market— Spurred by an array of new fabrics and an aggressive cycle of product introductions, buyers are making significant commitments and even placing some orders here with producers of recliners and motion furniture. Producers said retail business appears to be spotty, at best, so dealers are more willing to try fresh styles and new products on their floor.
- High Point Market
Fashion Bed Group offers value-priced beds
At The Market— Fashion Bed Group is sharpening price points this market on five new metal beds. The beds, at $199 to $299 retail, are part of the Leggett and Platt company's new Value Price program. They are transitional in style, with simple castings and finials. The five models are: Metal beds in Fashion Bed Group's line typically fall in the $399 to $499 retail price range.
- High Point Market
Amisco 1Q sales down 11.9%
L'Islet, Quebec— Metal furniture producer Amisco cited a strengthening Canadian dollar vis-à-vis the U.S. greenback as a significant cause of its 11.9% sales drop in its first quarter. About 70% of Amisco's sales are to the United States. The company reported sales of C$8.9 million for the quarter ended Feb.
- High Point Market
Moda founder to open Huffman Koos galleries
At The Market— The owner of Passaic, N.J.-based retailer Moda Furniture plans to revive the name of the defunct Huffman Koos chain in the Northeast through galleries in its stores. And that's just the first step. "My ultimate plan is to create franchises of Huffman Koos and Breuners locations in all 50 states," said Moda CEO and founder Anthony Mehran, who, through a separate company from...
- High Point Market
Official backs $1M state funding for market
At The Market— North Carolina Lt. Gov. Beverly Purdue came here to furnish her support for a multi-year $1 million request to strengthen the High Point furniture market. At a Friday afternoon press conference, Purdue said she wanted to emphasize that the state of North Carolina is making an effort to ensure that market guests are "wined and dined" and "treated with kid gloves.
- High Point Market
Home Depot agrees to acquire Home Decorators Collection
Atlanta— Major home improvement retailer The Home Depot has agreed to acquire Home Decorators Collection, a St. Louis-based catalog and online seller of rugs and home décor. Home Decorators Collection will become part of Home Depot Direct, Home Depot's direct-to-consumer division that offers home improvement and home decor merchandise through in-store and mail-order catalogs and Web ...
- High Point Market
Amish, Mennonites create promotion group
At The Market— Independent Amish and Mennonite furniture makers in central Ohio have joined a new group called the Amish Country Furniture Assn. to promote their industry, and the group has designated the region the Furniture Heartland. Between Canton and Columbus, more than 30 furniture stores and 400 furniture-making families are within a 30-minute drive.
- High Point Market
Marlo Furniture taps Weinstein for VP post
Forestville, Md.— David Weinstein has joined retailer Marlo Furniture as a senior vice president. He will oversee the daily operations of the company's four locations while assisting with the chain's rapid growth in the Washington market. He reports to Neal Glickfield, president. Weinstein has been in the industry more than 30 years.
- High Point Market
Elway debuts office
At The Market— Building on the success of its popular John Elway Home Collection, Bassett is expanding the program here with a computer armoire. The company developed the item because of requests from Bassett Furniture Direct stores for a computer armoire piece in the line, said Martin Gardner, director of merchandising for Bassett.
- High Point Market
DeCoro adds workers
At The Market— Italian-owned upholstery manufacturer DeCoro says it is ramping up its production and is still on track to open a new 1 million-square-foot plant in China in December. DeCoro also has improved its customer service and will expand its showroom here, said Heath Corso, executive vice president of sales and marketing.
- High Point Market
Sealy demonstrates bed flame testing at new N.C. facility
At The Market— A new Sealy Posturepedic sleep set incorporating fire-resistant materials easily withstood an assault by open flames at Sealy's Research & Development Test Center in nearby Archdale. With a group of reporters looking on, flames were applied to the top and side of the Posturepedic sleep set, using the test procedure specified in California, the first state to mandate ope...
- High Point Market
Educational seminars set for market
All seminars will be held in NHFA's Retailer Resource Center, IHFC Main, 12th floor, unless otherwise noted. Saturday, April 29 8:30–9:30 a.m. A Furniture Industry Overview W.W. "Jerry" Epperson Jr. , Mann, Armistead and Epperson The industry analyst and Furniture/Today columnist will discuss the issues and opportunities facing the furniture industry, based on the latest studies and stati...
- High Point Market
Market socials fill calendar
Saturday, April 29 8:30–10 a.m. Complimentary breakfast Coffee, juice, fruit and an assortment of breakfast items. Sponsored by Accessories by Sherwood, Advanced Art, Furniture Classics Ltd. and IMAX Worldwide Imports. Showplace Atrium 9:30–10:30 a.m. Complimentary breakfast Market Square Ground 10–11 a.
- High Point Market
Food, beverages for sale at market buildings
220 Elm Cappuccino bar 7:30 a.m.–7 p.m. On the Plaza at 220 Elm Elm Street Grille at the 3rd Cup 7:30 a.m.–7 p.m. Level Three, Skywalk entrance Continental breakfast. Fresh lunch sandwiches and salads. Furniture Plaza Panera 8 a.m.–4 p.m. 2nd floor atrium Bagels, muffins, pastries, cookies, salads, sandwiches, beverages, espresso and cappuccino.
- High Point Market
Tietex's Sira retires after 50-year career
HIGH POINT -- After a career of 50 years and 100 furniture markets here, textile industry veteran Lou Sira has retired at age 75. Sira, admired for his willingness to mentor younger designers, began his career with a degree in textile engineering from Philadelphia College of Textiles and Science.
- High Point Market
Comfort Shoppe donates $28,000 to literacy program
Madison, Wis.— The Comfort Shoppe, a Wrangler Home retailer here, has donated $28,000 to First Book, a national nonprofit agency committed to children's literacy. Randy and Barbara Witt, owners of The Comfort Shoppe, decided to use their participation in the local parade of homes as a way to show appreciation for the community that has supported their business through the years.
- High Point Market
Living Quarters employees help hurricane Wilma victims
Orlando, Fla.— Furniture retailer Living Quarters pitched in after Hurricane Wilma hit Florida last year, delivering 2,000 bottles of water to the American Red Cross in Plantation, Fla. Employees of Living Quarters, a two-store contemporary furniture specialist here, donated money to purchase the water.
- High Point Market
AHFA offers tips on assembling market press kits
At The Market— Many manufacturers are wasting their money on costly market press kits that serve no useful purpose, according to the organization that operates the Media Center during market. On the other hand, companies that follow a few basic press kit guidelines are reaping benefits, generating publicity for their new products not only during the April and October markets, but also in ...
- High Point Market
Spray finishing classes slated for July in Mass.
Gardner, Mass.—An intensive, three-day Spray Finishing Technology Workshop is set for July 25–27 at Mount Wachusett Community College's Robert D. Wetmore Technology Center here. The workshops are for anyone involved in industrial, contractor or maintenance spray finishing applications, or spray equipment sales and distribution.
- High Point Market
Dupont adds FR line for bedding
Richmond, Va.— DuPont has added a fire-resistant knit to its line of FR mattress materials. As with all of the company's FR products, the new knit has inherent FR properties incorporated into the fibers. The knit offers "durable FR capabilities that will help provide consumers with protection that will last well beyond the mattress point of sale," the company said.
- High Point Market
ISPA urges Congress to act on energy
Alexandria, Va.— When the Consumer Alliance for Energy Security held a news conference in Washington on April 5 to urge Congress to act on legislation to expand access to America's energy resources, International Sleep Products Assn. President and CEO Dick Doyle was there to voice his support. Doyle joined members of the alliance in an attempt to enhance the competitiveness of manufacture...
- High Point Market
New bedding foams receive kudos at ISPA
San Antonio— Foam suppliers say their continuing innovations will help drive more sales of better beds that will bring higher sales tickets to retailers. They rolled out a variety of new products at the recent International Sleep Products Assn. Expo here, and generally reported getting a good reception from bedding producers, who are the buyers at the show.
- High Point Market
FR solutions draw growing interest at expo
San Antonio— Suppliers of fire-resistant mattress materials say smaller and medium-sized bedding producers are approaching the mattress flammability issue with a growing sense of urgency. That's not unexpected. A federal mattress flammability standard goes into effect in July 2007, but FR suppliers say a number of bedding producers still have much ground to cover on the road to compliance.
- High Point Market
David Rothschild Co. celebrating 120 years
COLUMBUS, Ga.— David Rothschild Co., a fourth-generation family-owned U.S. textile mill, is celebrating 120 years of continuous operations this year. And President Walter Rothschild says the company is still growing.
- High Point Market
Ikea raises $2.3M for Save the Children, UNICEF
Plymouth Meeting, Pa.— Home furnishings retailer Ikea raised more than $2.3 million for Save the Children and UNICEF through an initiative it called "A Child's Smile is Worth So Much" Ikea donated $1 to the child advocacy organizations for each soft toy sold at most of its stores. Funds donated to Save the Children will benefit its education programs in Bhutan.
- High Point Market
Raymour participates in home makeover
Philadelphia— The home of William and Carole Py and their three orphaned grandchildren was renovated in seven days on the TV show "Extreme Makeover: Home Edition," with furnishings provided by Northeast retailer Raymour & Flanigan. The Pys raised four girls, put them through college and looked forward to retirement.
- High Point Market
Market spotlight
1. NATUZZI 130 W. Commerce Ave. Davin, a two-over-two leather model from the high-end Pasquale Natuzzi Collection, combines clean lines with rounded arms on a polished steel base. 2. JEFFCO 425 N. Hamilton St. The new Signature line of chairs is based on popular models from the company's custom program.
- High Point Market
Lexington honors Combs
At The Market— Lexington Home Brands saluted account representative Doug Combs as its Salesperson of the Year at a dinner in its showroom here, awarding him $10,000 and a 2006 Mercedes 320E to drive for a year. An 11-year Lexington veteran, Combs is part of a four-person Florida sales team. "Doug's superior performance is an example of the hard work and commitment required to be successfu...
- High Point Market
Epperson: Younger consumers influencing market
At The Market— One of the strengths of this market is the increasing amount of product on display here that's aimed at younger consumers. That's the view of Jerry Epperson, a furniture industry analyst with Richmond, Va.-based investment banker Mann, Armistead and Epperson, and a Furniture/Today columnist.
- High Point Market
John-Richard opening factory in Vietnam, with Oct. line launch
At The Market— High-end accent and occasional furniture specialist John-Richard expects to open a new factory in Vietnam by July and launch product made there by the October market. The 37,000-square-foot plant is the company's first factory in Asia. It will be in Ho Chi Minh City, an area already well populated with furniture makers and suppliers.
- High Point Market
Correction
A photo caption on page 128 of the Thursday market daily edition misidentified a bedroom collection from River Forks Imports. It is the Manchester collection, with turned pilaster treatments on the cases and cross-matched veneers. The company shows in CenterPoint on Russell, space 100. A story on page 50 of the April 24 issue said that Tennessee Enterprises Inc.
- High Point Market
The X factor gains force
At The Market— Xs aren't the most original shape in the universe. And perhaps not even the most graceful. But they are jazzing up the world of furniture this market. Items ranging from headboards and occasional tables to vanity sinks and entertainment centers bear the shape, giving them a classic look that harkens back to 1920s Paris — and possibly even ancient Egyptian times.
- High Point Market
Hand-knotted rugs making a comeback
At The Market— After a decade of dwindling sales, hand-knotted rugs appear to be enjoying a mini-comeback, according to several vendors showing here this week. No one is saying that hand-knotted rugs will regain the dominance they once had, but furniture retailers and designers are searching for better quality rugs to complement their high-end furniture.
- High Point Market
Give us your best shot
High Point— Furniture/Today is soliciting photographs of product introductions for its Best of Market section, to appear in the May 8 issue. To be considered, products must be well-received introductions at this market. Furniture and rugs in all categories and price points will be considered. The deadline for submitting products for the Best of Market section is 10 a.
- High Point Market
Maricich: High-end consumers want exceptional shopping experience
At The Market— Home furnishings companies marketing to well-heeled consumers need to understand they're looking for innovation in product design, an exceptional shopping experience and speedy delivery. That's the view of Bob Maricich, president and CEO of high-end case goods and upholstery maker Century Furniture.
- High Point Market
Memorial fund set up for Klaussner rep's family
At The Market— A memorial fund has been established to assist the wife and two small daughters of Jeff McDonough, one of the two California sales representatives for Klaussner killed Monday in an auto accident at market. Checks can be made to the Jeff McDonough Memorial Fund and mailed to Zimberlee Zoberski, Premier Banker, Wells Fargo, 3402 Camino Tassajara, Danville, Calif.
- High Point Market
Exposed-wood seating new for Lee
At The Market— Upholstery specialist Lee Inds. is introducing its first line of exposed wood-framed seating designed for both residential and contract applications. The new Urban Horizons by Lee features upholstered padded seats and backs and is built to contract specifications. The frame components are imported, then finished and upholstered at the company's plant in Newton, N.
- High Point Market
Lee offers 109 new fabrics on 68 new SKUs
At The Market— Upholstery maker Lee Inds. is taking an exuberant approach to its spring fabric selections, with 109 new fabrics being shown this week on 68 new SKUs. Colors are largely organic, like earthy browns, sand and bone shades, as well as sea mist and pale blues, several underscored with a matte shimmer, including a damask from Pine Cone Hill and a silvery blue matte-shimmer velve...
- High Point Market
Massoud's key to success: Right fabrics, quality frames
At The Market— Massoud Furniture Mfg. Co. is a 43-year-old upholstery maker that for many years chose to stay under the radar. However, with domestic producers dwindling, those remaining have become more conspicuous. With that in mind, Furniture/Today Editor in Chief Ray Allegrezza spoke with Chuck Massoud to learn more about the company, its products and his views on his segment of the b...
- High Point Market
Furniture bank is open
At The Market— Exhibitors here can donate items to a new High Point furniture bank called Emergency Interiors Furniture Bank, which will serve North Carolina and beyond. Furniture banks collect gently used home furnishings from the public, then give it to families in need. Typical clients are victims of natural disasters such as Hurricane Katrina, women and children escaping domestic viol...
- High Point Market
Occasional rides wave
At The Market— Occasional furniture vendors are riding a strong wave of interest in upholstery and entertainment centers this market, which is creating a surge of activity in their category. But they also are creating their own excitement, thanks to a host of styles and products that use a mix of hand-painted finishes, exotic veneers and mixed-media elements.
- High Point Market
Special charge hurts Restoration
Corte Madera, Calif.— Specialty retailer Restoration Hardware plunged into the red in its fourth quarter and year ended Jan. 28, largely because of a special charge related to deferred taxes. The $27.9 million after-tax, non-cash charge resulted in a net loss of $19.5 million in the latest quarter, compared with net profits of $10.
- High Point Market
Bedding in driver's seat
At The Market— Retailers shook off worries about soaring gas prices and gave good reviews to new mattress models introduced here. Buyers were looking for new products, promotions and merchandising strategies to drive business in the coming months, producers reported. Sealy aimed to help retailers spark business with sharply priced Sealy and Stearns & Foster anniversary models it intro...
- High Point Market
Hornsby hits Showplace stage
Grammy-winning singer-songwriter Bruce Hornsby wows the crowd Thursday night in the tented pavilion in front of Showplace. Tonight, the Carter Bros. will take the stage, blending drums and bass with Appalachian folk instruments. On Sunday, Grammy winner Delbert McClinton will perform his signature mix of blues, soul, country and rock.
- High Point Market
Question: What should be the top priority for new Market Authority President Brian Casey?
A: "They need to get flights into Greensboro. We used to have (50-minute flights from Pittsburgh) in here every two hours. Now there aren't any. We fly into Raleigh, then drive an hour and half to Greensboro. It takes me five hours driving and flying time. I can be in Las Vegas in four hours. I've been coming here for 30 years and we won't (be coming) once that third (World Market Center) build...
- High Point Market
Don't miss it
Michael Thomas Furniture A shining example of the growing trend to metallic gold in home furnishings, this tufted ottoman at Michael Thomas Furniture features two shades of gold leather from Moore & Giles. Retail for the ottoman is about $2,499. 1690 English Rd. Highland House A mix of skin patterns and classic fabric motifs from Textile Fabric Associates, DeBall and American Silk Mills cre...
- High Point Market
McClintock launches rug collection at Loloi
At The Market— Jessica McClintock was on hand Wednesday to introduce her rug collection for Loloi. McClintock's line is the three-year-old rug vendor's first licensed collection, and combines hand-tufted and micro-hook textures at retails of about $495 in a 5 by 8 size. "I like settings that are soft and romantic, not too dramatic," said the apparel and furniture designer.
- High Point Market
Mitchell Gold sells Gore fine art
At The Market— Tipper Gore, who has been a photojournalist since her husband, Al, bought a camera for her at an Army PX more than 30 years ago, has collaborated with her friends Mitchell Gold and Bob Williams on an exclusive, high-end line of fine art photography that is launching here this week.
- High Point Market
Green's not just a color for new Cisco Bros. line
At The Market— Upholstery manufacturer Cisco Bros. Furniture is using a lot of green this market. Green as in environment. Green as in sustainable. Green as in a new collection of upholstery for people, who, as the company says, "are committed to protecting our planet." The West Coast manufacturer's collection of 25 sofas, chairs, daybeds and ottomans, either slipcovered or upholstered, i...
- High Point Market
AF&Y aims to grow Marquesa brand in bedding
Chapel Hill, N.C.— With an expansion of its fiber extrusion capacity on tap, American Fibers and Yarns is aiming to further grow its Marquesa brand. One growth channel is expected to be the mattress industry, where AF&Y products are market exclusively by Culp Home Fashions. Marquesa fabrics use synthetic fibers with high-performance characteristics superior to those in natural fibers,...
- High Point Market
Somerton opens Chicago, N.C. warehouses
At The Market— Case goods importer Somerton Home Furnishings has opened warehouses in Chicago and Raleigh, N.C., to improve service to customers in the Midwest and East. The U.S. marketing arm of Chinese manufacturer Kingstone Furniture sells bedroom, dining room and entertainment furniture at medium prices.
- High Point Market
Norwalk debuts Candice Olson collection
At The Market— Interior designer and HGTV personality Candice Olson is introducing her first furniture collection for Norwalk Furniture here this week. "These are designs that I've loved for years," said Olson, who hosts the popular HGTV series "Divine Design." She describes her new offering as "classic with a twist.
Market Update
Amish, Mennonites create promotion group
AT THE MARKET -- Independent Amish and Mennonite furniture makers in central Ohio have joined a new group called the Amish Country Furniture Assn. to promote their industry, and the group has designated the region the Furniture Heartland.
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