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Furniture|Today -- 01/21/2008
Bedding Today
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Retail bedding coverage a key part of our strategy
What do these bedding retailers have in common: 1800mattress.com, American Furniture Warehouse, America's Mattress, Mattress Expo, Mattress Firm, Mattress Giant, Mattress Works, The Original Mattress Factory, Select Comfort, Sit 'n Sleep, Sleep Tech, Verlo Mattress Factory Stores and Zia Sleep Sanctuary? Those are some of the bedding retailers that we profiled last year.
Editor's Desk
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Look for more deals this year
Whoever said, "May you live in interesting times" must have been speaking to our industry. Like it or not, we are in the midst of some of the most interesting times I can remember. And I'd be willing to bet they are going to get even more interesting as this year unfolds. I think we will see continued consolidation, both at retail and on sourcing side of the business.
Industry Numbers
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W-S cuts forecast
San Francisco— Retailer Williams-Sonoma, parent company of Pottery Barn and several other retail formats, cut sales and earnings estimates for the fourth quarter and its fiscal year following weaker-than-expected revenues during the holiday season. The company, whose fiscal year ends Jan. 28, said total revenues for the nine weeks ended Dec.
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Pier 1 to close more stores
New York— Pier 1 Imports will probably close up to 30 stores next fiscal year and not open many, if any, as it continues to focus on improving its operations, an executive of the Fort Worth, Texas-based retailer said last week. "We're being very pragmatic as we look at real estate," said Pier 1 Chief Financial Officer Charles Turner during a presentation here at a Cowen and Co.
News
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Correction
Shannon, Miss.— Because of incorrect information received by Furniture/Today, a story last week about a new upholstery venture founded by industry veteran Howard Slavin and his son Michael contained inaccuracies. The company, Preferred Furniture, is a marketing entity to sell domestically produced upholstery in the $499 to $799 price points.
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Oakwood shifts back to solid-wood bedroom
Ontario, Calif.— A streamlined Oakwood Interiors has returned to its roots in solid-wood bedroom after an unsuccessful merger with home office and home entertainment producer Creative Ideas. The spring 2006 merger between the two California companies was aimed at expanding each company's domestically produced case goods.
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Investors buy Schnadig
Des Plaines, Ill.— Upholstery and case goods importer Schnadig Corp. has announced that an investor group headed by Robert W. Smiley Jr. has purchased all of the company's outstanding stock. A news release said the privately held company's owners had sought diversification and liquidity after 55 years and three generations of ownership.
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Forbidden City rocks
High Point— The Forbidden City Furniture Show continues to grow in its third year, according to organizer Lifestyle Enterprise. "We still don't have our total summary in, but really, the January show was a tremendous success," said Rick Bowman, president of case goods for the Lifestyle and Forbidden City lines.
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Sealy reinvents top brand
Archdale, N.C.— Sealy is set to introduce a revamped flagship Posturepedic line that the company says is designed to eliminate tossing and turning caused by pressure points. The line will debut at the Las Vegas Market next week. Sealy officials described the innerspring line as offering a groundbreaking new design that will give consumers better sleep.
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Furniture takes stage at CES
Las Vegas— Sophisticated chairs for gamers, consoles for today's high-tech televisions, and a $20,000 bed that does everything but serve breakfast were the furniture stars of the recent Consumer Electronics Show here. None of the furniture pieces generated a buzz comparable to the new electronic gadgets that are the show's main dish, but their role as an important supporting product was u...
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Toronto encouraging, but traffic down
Toronto— The 2008 campaign got off to a fine start here last week, with resources exhibiting at the Canadian Home Furnishings Market saying they were encouraged by the interest shown and the placements received from retailers. But all agreed that attendance continues to decline at the show. Executives at many exhibitors said the CHFM continues to be the market of choice for independent st...
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Domain looks to restructure
Norwood, Mass.— Domain Home has run into financial difficulties and will attempt to restructure under a Chapter 11 bankruptcy reorganization, industry sources have told Furniture/Today. The 27-store Top 100 company also eliminated about 20 corporate jobs last week as part of a move to scale down its operations.
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Kays takes top NHFA post
High Point— Attorney and former retailer Doug Kays of Pacific Palisades, Calif., took office Jan. 1 as 2008 president of National Home Furnishings Assn. He succeeds Wogan S. Badcock III of W.S. Badcock Corp. in Mulberry, Fla., who moves to the post of chairman of the executive committee. Senior vice presidents are Jeff Child, R.
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AICO awards excellence
Pico Rivera, Calif.— Importer AICO/Amini Innovations Corp. presented three awards at its annual holiday party at the Hyatt Resort in Huntington Beach, Calif. Mark Reyes, director of creative arts, was named Employee of the Year. He has been with AICO for four years and had worked with Chairman and CEO Michael Amini independently for several years prior to that.
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Online shopping up 19%
Reston, Va.— E-commerce spending for the 2007 holiday season reached a record $29.2 billion, up 19% from a year earlier, according to comScore. Helping to drive the increase was a 67% increase in furniture, appliances and equipment, the second-largest growth rate among the top 10 retail categories.
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Atlanta exhibitors pleased with turnout, feedback
Atlanta— Dozens of furniture vendors used last week's gift and home furnishings show here to rev up their business heading into the new year and to preview pieces they'll show at markets in Las Vegas and spring High Point. From a furniture perspective, the Jan. 8–16 Atlanta International Gift & Home Furnishings Market is not a major market.
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Rug buyers seek fresh ideas at Atlanta show
Atlanta— Last week's Atlanta International Rug Market helped raise the spirits of the ailing rug industry. After a lackluster 2007, retailers came to the industry's big show looking for exciting ideas to help jump-start the category this spring. Vendors said that making a buzz in the market is crucial for success, and even survival, in hard times.
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Ikea to open in Ohio
West Chester, Ohio— Lifestyle specialty retailer Ikea is set to open its 344,000-square-foot store here in greater Cincinnati on March 12, its first in Ohio and sixth in the Midwest. The store will be on 28 acres of a 56-acre parcel along I-75 at the southeastern corner of Allen and Muhlhauser roads.
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Rep group honors Friedman as Retailer of Year in Florida
St. Petersburg, Fla.— The Florida Home Furnishings Representatives Assn. has honored Jayson Friedman of Coconut Creek, Fla.-based Carls Furniture as its 2007 Distinguished Retailer of the Year. He was recognized for his involvement in product development with vendors and working with his sources "to create a magnificent atmosphere in all 11 Carls furniture stores in Florida," the FHFRA said.
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Flag-display tables now offered at wholesale
Hickory, N.C.— United Displays, launched last year as an online retailer of U.S.-made flag display tables, has begun selling to retailers and interior designers through a new wholesale division called John Ebert Presents, after founder and President John Ebert. Retailers can visit the Web site at www.
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Profitsystems to hold Colossal meeting in Vegas
Las Vegas— Retail software provider Profitsystems will host its annual Colossal Group Meeting for Profitsystems users during this month's Las Vegas Market. The theme will be "Business in Changing Times — Maintaining the Edge and Profitability." Speakers include industry veteran Sev Ritchie, Hearst Integrated Media's Kelly Peterson, and Gary Kitchen, CEO of Cordus.
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Higdon Furniture under Chapter 11 protection
Quincy, Fla.— Promotional wood bedroom and entertainment manufacturer maker Higdon Furniture filed for Chapter 11 bankruptcy protection in late October and posted a $300,000 loss in November, according to court documents. Company officials could not be reached for comment last week. Court papers filed in December also said Higdon's books reflected $6 million in assets and $4.
- Obituaries
Obituaries
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50 other exhibitors open doors
High Point— The Forbidden City Furniture Show helped more than just Lifestyle Enterprise as about 50 other exhibitors opened their doors here last week. It was the third annual show organized by Lifestyle Enterprise, which invited hundreds of retailers and paid for their airfare and lodging. In addition to spending time at Lifestyle, many retailers visited other showrooms as well.
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Custom work gives U.S. manufacturers an edge
Atlanta— Furniture buyers seeking one-of-a-kind custom merchandise found some sources here that many thought had all but disappeared from view — domestic manufacturers. While few in number, the U.S. manufacturers said they had a strong showing at this month's Atlanta International Gift & Home Furnishings Market.
Opinion Today
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Social shopping: A new twist on e-commerce
During a premarket about 15 years ago, I remember puzzling over how a male-dominated industry could really get a bead on what female consumers wanted in home furnishings. I'd just asked Irwin Lowenstein, CEO of now-defunct Rhodes, who had just left Bob Spilman's Bassett showroom, about what he would be buying for the Rhodes chain that fall.
People Today
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People Today
Marketing/Sales Duralee Fabrics Bay Shore, N.Y. — Fabric supplier Duralee Fabrics has promoted Joel Rothstein to director of international sales, a new position. Rothstein, who had been director of European sales, will assist Lee Silberman, senior vice president, who heads the company's global sales efforts.
Special Report
- Heimtextil
Purples, metallics shine at Heimtex
Frankfurt, Germany— Purples, running the gamut from amethyst to mauve and lilac, were among the style statements at the Heimtextil fabric fair here this month. Livening the mix were a variety of sparkles, including metallics and Swarovski crystal embellishments. In addition, the silver-to-gray palette that has been emerging in the last year at European markets was even more apparent at He...
- Dining Room
Formal dining flies under the radar
High Point— Categories like home entertainment and recliners might get more attention, but formal dining continues to perform well while flying under the radar. Many dinette sources have claimed that formal dining has been surpassed by its little brother. According to some statistics, however (to paraphrase Mark Twain), reports of its demise are greatly exaggerated.
- Las Vegas Product
Array of product on tap for Vegas market
WMC = World Market Center P = Pavilions at World Market Center MGM = MGM Grand Hotel S = Surfaces show at the Sands All prices retail except where noted. For rugs, all prices retail for an approximate 5 by 8 size except where noted. In-depth stories on Las Vegas product introductions will appear in Furniture/Today's July 28 issue.
Store Openings
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Ashley opens in Alabama
Fultondale, Ala.— An Ashley Furniture HomeStore has opened here on Lowery Parkway in the new Colonial Promenade. The 35,000-square-foot showroom features architectural elements crafted by regional artisans, including water effects and an oversized set of doors from the historic Phipps mansion in Palm Beach, Fla.
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Furnitalia debuts Calif. unit
Sacramento, Calif.— Contemporary furniture and lifestyle retailer Furnitalia has opened a 12,000-square-foot showroom here. About 85% of the new store's mix is furniture made by Excelsior Designs, an upscale resource of Italian-made contemporary furniture designs. Included in the presentation from leather upholstery from Excelsior's Casa Novalia line, and items from the licensed Nicole Mi...
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America's Mattress has new Fresno unit
Fresno, Calif.— Robert Dutcher has opened his second America's Mattress sleep shop here on West Shaw Avenue. The new Serta-exclusive store is about 6,000 square feet and offers such lines as Perfect Day, Vera Wang by Serta, Perfect Sleeper and Sertapedic, and the new foam True Response collection.
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