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Furniture|Today -- 06/12/2006
Bedding Today
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Panera playbook offers business-boosting clues
Want to make more "dough" with your bedding store? Try the playbook of Panera Bread Co. Yes, the restaurant and bakery chain, which sells plenty of bread, is also making plenty of money in the process. A flattering story on Panera in my favorite weekly business magazine (that would be BusinessWeek) offers our industry some "food for thought," as it were.
- Mattress Retailing 101
Listening skills pay off when it comes to selling
Today's topic: The importance of listening. Overview: This is one of the neglected skills on the retail sales floor, but it's critical to your success. You can have the best sales pitch, but if you don't listen to your customers and tailor your approach to meet their needs, you will get nowhere. Challenges: With all of the great product information you possess, it isn't easy to hold your tongue.
- Mattress Retailing 101
Highlights from past installments
With each new installment of Mattress Retailing 101, we are expanding our library of resources for retail bedding sales associates. Here's an overview of the features available to readers online at www.beddingtoday.com: How top sales associates make things happen on the floor. Originally published in our Feb.
Editor's Desk
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Don't be afraid to innovate
As with any fashion-driven business, the furniture industry needs to walk that thin line between cutting-edge design and design so far out that it can't cut it in the real world. Having said that, I'm going out on a limb to argue that our industry tends to err on the side of safety. Granted, the thin line takes time to find and is challenging to navigate, but the rewards can be worth it.
Industry Numbers
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La-Z-Boy sales down
Monroe, Mich.— La-Z-Boy said sales slipped 10.1% in its fourth quarter amid inconsistent retail activity. For the year, sales were off 6.4% to $1.92 billion. The major upholstery maker and operator of company- and dealer-owned dedicated stores reported a net loss of $10.3 million, or 20 cents per share, in the fourth quarter.
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Havertys sales in May surge 20.8%; same stores up 17.9%
Atlanta— Better product flow allowed Havertys to ship more orders in May, leading to a 20.8% jump in sales and a 17.9% hike in same-store sales compared with the same month a year earlier, the retailer said. Sales of $74.6 million were up from $61.7 million in the 2005 month. For the year to date, sales of $348.
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FBI affirms earnings expectations
St. Louis— Furniture Brands International has affirmed its earnings guidance for the second quarter. The company, whose brands include Broyhill, Lane, Thomasville, Henredon, Drexel Heritage and Maitland-Smith, said it expects to report earnings of 29 cents to 33 cents per share, after a variety of one-time charges equaling 6 cents per share.
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Quaker amends bank loan to allow private financing
Fall River, Mass.— Quaker Fabric has amended its five-year senior secured bank loan, and intends to seek financing on a private-placement basis. President and CEO Larry Liebenow said, "We have reached agreement with our lenders on certain changes to our loan documents. These changes, including certain changes in the financial covenants in the documents, are intended to continue to provide...
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Qubein seeking election to seat on La-Z-Boy board
Monroe, Mich.— High Point University President Nido Qubein has been nominated to serve a three-year term on La-Z-Boy's board of directors. Qubein, 57, became president of the university in January 2005. He also serves as chairman of Great Harvest Bread Co., public relations company McNeill Lehman Inc.
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Hellwig gets La-Z-Boy fabric post
Monroe, Mich.— La-Z-Boy has hired former Quaker Fabric executive Mark Hellwig as vice president of corporate fabric procurement, a new position. He reports to Otis Sawyer, senior vice president of corporate operations, and is responsible for developing a long-term strategy for fabric procurement and global sourcing.
Insider's View
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Our industry's Wal-Mart just keeps on growing
If the economy is growing, why don't more of us feel that business is good? You know the reasons: incomes are stagnant, with inflation eating up modest wage gains; asset values are not increasing like they were, especially housing; consumer debt is rising and higher interest rates make debt more costly; and higher health care, gas and utility costs are hitting us all.
News
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Boyd: High-tech for pillows
Maryland Heights, Mo.— Boyd Specialty Sleep is introducing an interactive sales system designed to help retailers sell pillows with confidence. Called the Sleep Sync System, it uses a touch screen to get key information from consumers, then recommends pillows from the Boyd Personal Profile line that will meet the consumer's needs, said Denny Boyd, president.
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Once-troubled Richter sets facilities in Mexico, Arizona
Los Angeles— Upholstery producer Richter Designs, forced into involuntary bankruptcy last year, plans to open a 335,000-square-foot manufacturing facility in San Luis Rio Colorado, Mexico, and a new 120,000-square-foot cutting facility and distribution center across the border in Somerton, Ariz.
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Greco named CEO at Natuzzi
Santeramo in Colle, Italy— Ernesto Greco, the former chief financial officer for Italian jewelry and accessories maker Bulgari, has been named CEO of Natuzzi Group. Pasquale Natuzzi, 66, who in 1959 founded what became the world's largest leather upholstery manufacturer, continues as chairman. He said he will now focus on his true passions, product development and innovation, as well as b...
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Latex International launching branded pillow program
Shelton, Conn.— Latex International, which produces more than 1.2 million Talalay latex pillows annually, is launching a new branded pillow program targeting bedding specialty retailers and furniture stores. Pillows in the RejuveNite program, which provide customizable comfort for the neck and head, come in a variety of constructions to meet the varying needs of sleepers.
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Three industry stalwarts stepping aside
High Point— Two top industry leaders, Pat Norton of La-Z-Boy and Bob Stec of Lexington Home Brands, are stepping down while a third, Pasquale Natuzzi, is giving up his CEO post. Over a span of just a few days, the three companies separately announced the changes and, in two cases, named permanent or interim replacements.
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La-Z-Boy's Norton to retire
Monroe, Mich.— Industry veteran Pat Norton will retire as chairman of La-Z-Boy and not stand for re-election at the shareholder meeting in August, the company said. Norton, 84, one of the industry's most visible executives, steps down after 25 years at La-Z-Boy, where he has been chairman since 1997.
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Hooker to close Roanoke, Va., wood plant
Martinsville, Va.— Hooker Furniture has announced it will close its plant in Roanoke, Va., one of its two remaining case goods plants, by the end of August. The 265,000-square-foot plant employs 275 people, about 20% of Hooker's work force, and produces home office and home entertainment furniture.
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Lasater retires from FBI board of directors
St. Louis— After 36 years, Donald Lasater has retired from the Furniture Brands International board of directors. Lasater, 80, once the CEO and chairman of Mercantile Bancorporation, joined the board of FBI predecessor Interco in 1970. No successor has been named yet. The next scheduled meeting for the board of directors is July 27.
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W.S. Badcock promotes Gonyea
Mulberry, Fla.— Retailer W.S. Badcock has promoted Dave Gonyea to vice president of corporate retail operations, with responsibility for more than 50 corporately owned stores. Gonyea, a 20-year Badcock veteran, had been vice president of retail support. He also serves on the board of the Florida Home Furnishings Assn.
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Correction
A quote that appeared on page 8 of a May 29 story about upholstery maker Mastercraft closing was attributed to former president Doug Perentis. The quote should have been attributed to Mark Norman, vice president of development for the Council Bluffs Chamber of Commerce.
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Bernhardt previews new Martha collection
High Point— Martha Stewart likes the ring-back bench, the sweetheart settee in green velvet, a plate rack, dining chairs with delicate hand-painted gold-toned maple leaves on a black finish, and a four-poster tester bed. That's not a big surprise, since inspiration for many of the pieces in Stewart's new Signature collection for Bernhardt comes from the newest of her "laboratory" properti...
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Bombay taps Stewart for CEO post
Fort Worth, Texas— Top 100 specialty chain The Bombay Company has hired as its CEO the former president of Blockbuster Video Canada, David B. Stewart. The 67-year-old Stewart, who according to Bombay has led several companies through turnarounds, succeeds James Carreker, who has been chairman and CEO since 2003 and announced earlier this year that he would step down.
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RTA uph. maker acquired
Melrose Park, Ill.— Handy/Kenlin Group, a long-established maker of furniture hardware, has entered the ready-to-assemble upholstered furniture business with the purchase of Convert-A-Couch, a Wisconsin-based company headed by industry veteran Tom Erdman. Handy/Kenlin, known for its Kenlin drawer sides and Handy button machine, has renamed the company Handy Living, with the product lines ...
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Wood-Armfield shuts doors
High Point— Wood-Armfield, a High Point furniture retailer since 1939, abruptly closed its doors last week, telling customers and vendors the company's assets would be liquidated. The retailer, formerly on Furniture Today's Top 100 list, gave no reason for the closing in a brief recorded message that greeted callers to its store on Tuesday.
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Pelcher leaving Levitz for Levin
Woodbury, N.Y.— Levitz merchandising executive Chris Pelcher will leave the company to become general merchandise manager of Top 100 store Levin Furniture, the companies said last week. He will report to Robert Levin, president and CEO of the 12-store retailer based in Smithton, Pa. Levin said the GMM post has been vacant.
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Salm exits Douglas sales post
El Segundo, Calif.— Ken Salm, a senior executive at Douglas Furniture for two years, has left the company. Salm, who was senior vice president of sales and business development, said he resigned to pursue other opportunities in the home furnishings industry. He had been with Douglas since May 2004.
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Hall of Fame taking nominations now
High Point— Nominations for the American Furniture Hall of Fame will be accepted until July 15, the organization has announced. The Hall planned to mail nomination forms and related materials to AFHF sponsors on June 10, said Leroy Lail, newly elected Hall of Fame president and chairman of retailer Hickory Furniture Mart, Hickory, N.
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Hickory, N.C., retailer Lail named president of AFHF
High Point— Leroy Lail, chairman of retailer Hickory Furniture Mart, Hickory, N.C., has been elected president of the American Furniture Hall of Fame for 2006–07. Also elected: First vice president, Don Belgrad, Schnadig; second vice president, Don Coleman, Hickory Springs Mfg.; secretary/treasurer, and E.
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Stec resigns as CEO of Lexington Home Brands
Thomasville, N.C.— Bob Stec has resigned as president and CEO of Lexington Home Brands, the company he has led since 1999. Sun Capital has named Asher Lepkin interim CEO to work with the existing management team. Stec remains a minority owner of Lexington Holding, a Sun affiliate. Stec joined Lexington in 1999 as executive vice president of sales and marketing, reporting to then-President...
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Rooms To Go settles EEOC lawsuit
Seffner, Fla.— Retailer Rooms To Go has settled a sexual and racial harassment lawsuit by the federal Equal Employment Opportunity Commission, agreeing to pay $275,000 and take steps to assure its compliance with civil rights laws. EEOC said the settlement with R.T.G. Furniture Corp., parent of the largest U.
- Bedding Benchmarks
Kingsdown strengthens management team
Mebane, N.C.— Top 10 bedding maker Kingsdown is building its management team with a blend of bedding insiders and outsiders. That's a good way to bring new ideas and strategies into the company while seasoning them with years of bedding expertise, said Kingsdown CEO Eric Hinshaw, a bedding outsider himself when he first came to Kingsdown decades ago.
- Bedding Benchmarks
Kingsdown expanding high end
Mebane, N.C.— Kingsdown is expanding its high-end bedding offerings with a variety of new models and product lines. The new models offer everything from bedding just right for children to a customizable mattress that will enable adults to sleep comfortably without compromise. The new models were successfully introduced at the High Point market in April, where Kingsdown hosted its "Jewel o...
- Bedding Benchmarks
Sit n Sleep to carry Kingsdown
Gardena, Calif.— Kingsdown has entered the California market with a partnership with Sit 'n Sleep, the powerhouse Los Angeles-area bedding specialty chain. Sit 'n Sleep, based here, is adding Kingsdown's DormoDiagnostics technology and Body System mattresses to all 15 of its stores, becoming the exclusive Kingsdown dealer in the sprawling Los Angeles market.
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Lady Americana doubles size of HQ plant
Oklahoma City— Top 15 bedding producer Lady Americana, bidding to stay on a growth track, has more than doubled the size of its headquarters factory here. The mattress producer, a subsidiary of retailer Mathis Bros. Furniture here, added 65,000 square feet to its plant on West I-40 Service Road, bringing it to 125,000 square feet.
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Bedtime opens 2 distribution centers
Oklahoma City— Youth bedroom furniture importer Bedtime has opened two distribution centers, one here and one in High Point. The Oklahoma center is 15,000 square feet and the High Point center is 10,000 square feet, said Ron Holliday, president of Bedtime. The warehouses, coupled with an existing facility in Los Angeles, give Bedtime the ability to service the entire country with reasonab...
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New Thomasville print ads set tone for branding effort
Thomasville, N.C.— Thomasville Furniture Inds. has begun a magazine advertising campaign that portrays its products as the height of home fashion. The campaign is one of a series of steps undertaken by Nancy Webster, who was named CEO of the Furniture Brands International company in September, to further Thomasville's presence as an interior design authority from a variety of perspectives...
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RTG to buy Kirschman's
New Orleans— Rooms To Go is acquiring five stores from Kirschman's, a 92-year-old Top 100 chain based here. Two of the stores are in New Orleans and the others are in Baton Rouge and Covington, La., and Gulfport, Miss. The deal does not include four stores in Lafayette, Houma, Slidell and Gentilly, La.
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Making its own market
Thomasville, N.C.— Thomasville Furniture said last week it will no longer use the April and October High Point markets as a major venue for product introductions, and will instead bring out new merchandise to meet consumer buying patterns. "It has become increasingly apparent to us that it is unnecessary for Thomasville to adhere to an industry-dictated furniture market schedule — a...
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Group plans WMC rival
Las Vegas— A financial partnership wants to build a 548,815-square-foot furniture showroom building near downtown Las Vegas, becoming a rival to the World Market Center. The 13-story building, a mile south of the World Market Center, would be in a development that also would include two high-rise towers with 1,236 condominiums and 63,000 square feet of office and retail space.
Opinion Today
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Showtime issues: Timing, 'Xerox' product
Now that the first Showtime held in June is history, it's clear there were a number of issues raised by the date change, and how the new timing relates to the global home furnishings fabrics scene. The change in dates from July was about as close to last-minute as one could get. But it was done only after consultations by Showtime's sponsor, the International Textile Market Assn.
People Today
- People on the Move
People on the Move
Directors La-Z-Boy Monroe, Mich. —Richard M. Gabrys has been elected to La-Z-Boy's board of directors to serve the remainder of the term of Helen O. Petrauskas, who died in March. Gabrys will be a member of the audit committee. Gabrys serves on the boards of CMS Energy Corp. and Dana Corp. He also is interim dean of the School of Business Administration at Wayne State University.
Special Report
- Showtime report
Craftex offers to license Antiques Roadshow fabrics
High Point— Fabric supplier Craftex Mills, the fabric licensee for Antiques Roadshow, has developed a licensing program that it is offering to furniture manufacturers and furniture and fabric retailers. Jack Eger, vice president of sales and marketing, said the centerpiece of program is an antique-style trunk on a stand that is in a kiosk setting for the books and swatches from the Antiqu...
- Fastet-Growing Top 100 Stores
Ashley HomeStores still leads in growth
High Point— Some day, the big news will be that Ashley Furniture HomeStores was not the fastest-growing Top 100 company. But not today. For the fourth consecutive year, the dedicated furniture store network of Arcadia, Wis.-based Ashley — operated largely by independent dealers — topped the index of fastest-growing retailers, with net volume growth in 2005 that left all other ...
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Gliding to growth
High Point— Hoping to stimulate an increasingly price-sensitive category, producers and distributors of glider rockers are experimenting with an array of new features, functions and finishes to drive business. Producers are hoping the strategy will create more awareness for the category and cause it to take on greater importance in a retailer's merchandising strategy.
- Showtime Report
Traffic light at June Showtime
High Point— Traffic seemed light for the first-ever June Showtime, and several executives came late or left early to attend their children's graduation ceremonies. But most exhibitors said they were quite satisfied with the fabric show because they had full appointment schedules and important customers showed up on time.
- Showtime report
Leather producers try to find their groove
High Point— As at other recent markets, leather resources at the Showtime fabric fair here last week were trying to find their groove in the market cycle. Battling price competition from offshore as companies buy leather from Asian sources, Showtime has become less attractive to leather upholstery makers than it is to their fabric counterparts.
- Showtime report
Covington New York builds its brand
High Point— A lot has happened in the 120 days since Roger Gilmartin took the helm at fabric supplier Covington, including a rebranding initiative that debuted here at Showtime with an elegant new logo and a new name — Covington New York. "In these first few months," Gilmartin said, "we've focused on rebuilding and filling in voids in the lines.
- Showtime report
Shuford names president, starts spinoff company
Hickory, N.C.— Shuford Mills has named a new president and is forming a new company to make and distribute coarse-count yarns. C.P. Davis has joined Shuford Mills as president, replacing Allen Barwick, who will become president of the new company, Shuford Yarns. Davis previously was CEO of Evercare Products, a maker and marketer of household organization and cleaning products.
- Showtime report
Quaker shows Chinese, outdoor lines
High Point— Upholstery fabric supplier Quaker Fabric brought its first Chinese-made fabrics to Showtime last week, and also a new U.S.-made Terrazzo solution-dyed acrylic outdoor fabric. Quaker, which has been resizing and adjusting its business model to fit the changing textile landscape, produces the Quaker Global line in a China plant it operates in a joint venture with Hangzhou Zhongw...
- Showtime report
Old VW's a rolling display rack at Culp
High Point— For years Laura Walker has had a photo of an old car covered with wallpaper tacked up on her wall. She found the idea charming and in the back of her mind always hoped to do something similar. Walker, merchandising consultant and retail sales for Culp Upholstery, was reminded of that wish recently.
Store Openings
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Furniture Barn installs La-Z-Boy Kidz gallery
New Castle, Del.— Furniture Barn here has become the latest juvenile retailer to install a La-Z-Boy Kidz gallery. The 2,000-square-foot gallery features youth furniture from La-Z-Boy company Lea Inds., plus top-of-bed items and accessories. Store owners David and Pame Barnes said the gallery takes up about 10% of the store's 20,000 square feet.
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La-Z-Boy debuts store in Georgia
Lawrenceville, Ga.— Top 25 furniture manufacturer La-Z-Boy has opened a La-Z-Boy Furniture Galleries store here on Pleasant Hill Road. The store incorporates the design-focused format of the company's New Generation stores. The 15,208-square-foot unit is co-owned by Tom DeGoey, Ed Breunig III and Bob Breunig.
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