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Furniture|Today > Archives > 02/25/2008 Issue
Table of Contents
Furniture|Today -- 02/25/2008

Bedding Today
  • Bedding's 'new' twist: Two-sided mattresses
    In the category of What Doesn't Go Around Does Come Around (think about that for a second and you'll see what I mean), we bring you exciting news this week of the latest innovation in bedding: Two-sided mattresses. Yes, what is old is new again. Isn't this a great industry? Two producers made news during the recent Las Vegas Market with two-sided mattress introductions.

Editor's Desk
  • Don't let outlook ruin your vision
    During the recent Las Vegas Market, I was lucky enough to get some advice from Ashley's Ron Wanek, a guy whose track record gives worth and weight to his words. If you know Ron, you know he is student of history, strategy and war. He has found ways to utilize his understanding of these topics to take his business to the top of the pile.

Industry Numbers
  • La-Z-Boy reverses loss
    Monroe, Mich.— La-Z-Boy earned a profit in its fiscal third quarter, reversing a loss from last year, but the company's board voted to slash its quarterly stock dividend due to continued weakness in the housing and home furnishings markets. That weakness resulted in a 7.8% sales decline in the quarter ended Jan.
  • Aaron 4Q revenue up 14.3% but costs send profits down
    Atlanta— Rent-to-own powerhouse Aaron Rents said its fourth-quarter revenues jumped 14.3% but profits fell more than 18% due to increased operating costs and an aggressive store-opening program. The company, which had 1,560 franchised and company-owned stores at the end of 2007, said it also had higher than normal collection expenses at many company-owned locations.
  • Dorel buys 2nd bike maker
    Montreal— Furniture manufacturer Dorel Inds., which has owned bicycle-maker Pacific Cycle since 2004, has added upper-end bicycle producer Cannondale Bicycle Corp. to its portfolio. Dorel said it would market its premium brands, including Cannondale, GT and Sugoi, to independent bicycle dealers through the Cannondale Sports Group.
  • Leggett's Wright, Cornell to leave board
    Carthage, Mo.— Leggett & Platt Chairman Felix Wright and Chairman Emeritus Harry Cornell, who have a combined 107 years of service with the company, have announced they won't seek re-election to the board of directors. Wright, 72, and Cornell, 79, will remain on the board until the company's annual meeting in May.
  • Masco loses $151 million in 4Q as sales slide
    Taylor, Mich.— Facing a tough housing market, building products giant Masco Corp. reported a net loss of $151 million in the fourth quarter on a 7.9% decline in sales. Masco, whose holdings include furniture makers Mill's Pride and Tvilum-Scanbirk, said most of the weakness occurred in its North American operations, where sales dropped 13%.

Insider's View
  • Get behind NHFA effort for the benefit of all
    A number of years ago, Ethan Allen placed a surcharge on its dealers of 1% or so on each invoice. The concept behind it was that Ethan Allen could use those funds to more efficiently buy advertising on a national level than any local dealer could afford. Not only could the retailers buy more time if they acted collectively, they could get on better programs at better times to appeal to Ethan Al...

News
  • Our Community
    Ethan Allen donates furniture to family in New Orleans
    New Orleans— Retailer-manufacturer Ethan Allen helped furnish the home of a family here, devastated first by a death in the family and then the destruction of their home by Hurricane Katrina. When the father of her three children was killed in a drive-by shooting 12 years ago, Donniecia Allen pressed on, working two jobs and taking business classes at night, determined to someday own a ho...
  • Our Community
    Sleep Country USA collects goods, money for foster kids network
    Seattle— Mattress retailer Sleep Country USA's Foster Kids Program collected more than 51,000 items and $62,327 in cash in 2007, the third year the company has conducted the campaign to help foster organizations in its market areas. "This amazing partnership with Sleep Country USA lets the children that we serve know they are cared for," said Meg Eberle director of the Foster Family Care ...
  • Our Community
    Ashley reps raise money to help furnish new Ronald McDonald house in Philly
    Philadelphia— Ashley Furniture marketing specialists have raised money to help furnish a new Ronald McDonald House on the campus of St. Christopher's Hospital for Children here. The house provides lodging for families of children undergoing hospital treatment. The Ashley reps filled the entry foyer and recreation room of the home, providing furniture that retails for $8,000.
  • Our Community
    Arizona's Bedmart holds event for children's group
    Phoenix— Mattress retailer Bedmart hosted 42 children from Free Arts of Arizona at a family entertainment event at US Airways Center here. The show featured ice skater and Olympic gold medalist Kristi Yamaguchi, The Cheetah Girls and Corbin Bleu from "High School Musical." Free Arts of Arizona is a nonprofit organization that brings the healing powers of the arts to abused, neglected and ...
  • Bedding Benchmarks
    Bedding retailers enjoy Vegas hospitality
    Las Vegas— From the luck of the Irish to a good old-fashioned American feast, there was a little bit of everything for bedding retailers attending the recent market here. Once again the Vegas social scene was an active one. Comfort Solutions got the ball rolling with its awards dinner, hosted by Dave Roberts, president of the company.
  • Crink joins PeopLoungers
    Mantachie, Miss.— Larry Crink, a 35-year industry veteran, has been named executive vice president of sales and marketing services for motion upholstery specialist Peop-Loungers. PPL Acquisition, which acquired the assets of PeopLoungers after the company's Chapter 11 bankruptcy in May, announced the appointment.
  • Sharper Image files Ch. 11
    — Catalog, store and online retailer Sharper Image filed for Chapter 11 bankruptcy protection last week in U.S. Bankruptcy Court here. Massage chair manufacturer Human Touch (Interactive Health) is listed as Sharper Image's seventh largest creditor in the bankruptcy filing and is owed $966,000.
  • Obituaries
    Mario Piazza, Hurtado USA consultant
    White Plains, N.Y.— Mario Piazza, a consultant with case goods producer Hurtado USA, has died after a short illness. He was 84. A second-generation industry veteran, Piazza started his career at age 16 with W&J Sloane in Manhattan. He also held positions with Meldan Furniture, Casa Bique and Medallion Furniture.
  • Can a cute puppy stimulate sales? Maybe, says Karel
    Aventura, Fla.— Larry Karel is tired of hearing all the bad news, and he's doing something about it. The regional home furnishings show producer, based here, is turning to man's best friend to help him get a positive message out. "Can we buy furniture for our home, please?" a Yorkie asks in a bumper sticker Karel has produced.
  • Havertys earnings down 48% in 4Q
    Atlanta— Havertys reported a 48.4% decline in fourth quarter earnings to $1.6 million from $3.2 million for the same period a year ago as a weak economy continued to weigh on business. For the year ended Dec. 31, earnings were $1.8 million, down 89% from the $16 million posted in 2006. As previously reported, sales for the fourth quarter were $205.
  • KEM offering incentives to reps
    Aventura, Fla.— Karel Exposition Management said it has begun offering an incentive to manufacturers' representatives who deliver signed contracts for exhibit space at Karel furniture and accessory shows. KEM is the largest U.S. producer of regional "drive-in" industry trade shows. "This takes the concept of outsourcing directly to the ones who are most connected to others in the industry...
  • NHFA, HGTV to host seminars, webinars on Preferred program
    High Point— Representatives of the National Home Furnishings Assn. and HGTV will host a series of seminars and webinars to acquaint retailers with the $20-million consumer education and awareness program the two organizations will launch this summer. Called the Preferred Retailer program and developed for the home furnishings industry by the NHFA-HGTV partnership, the effort aims to build...
  • Bargain hunters find plenty of deals in Tupelo
    Tupelo, Miss.— Despite sparse traffic, exhibitors at the winter market here said they were doing a good business with bargain hunters, and were seeing flashbacks to the days when Tupelo was considered the market for promotional upholstery. Deals were advertised on flat screen TVs throughout the market complex, and "Tupelo-only" promotions, such as sofa/loveseat combos for the price of a s...
  • American restarts lines after fire
    Ecru, Miss.— Upholstery maker American Furniture had stationary, recliner and motion production lines back up and running early last week, a week after a raging fire destroyed over half of its 1.2 million square foot facility here. Full production is expected to resume by the end of March, according to President Lyle Harris.
  • Hickory At Home names Cornelius general manager
    Hickory, N.C.— Components supplier Hickory Springs has named bedding industry veteran Niles Cornelius general manager of its Hickory At Home consumer products division. In the newly created post, Cornelius will oversee sales, marketing and operations. The division produces and distributes futon frames and mattresses, youth furniture, memory foam pillows and daybeds that are sold through f...
  • Stylus taps Harris, Bajpai
    Burnaby, British Columbia— Upholstery source Stylus Made to Order Sofas has promoted two of its executives, naming Jason Harris vice president of residential sales and marketing and Erin Bajpai Canadian sales manager. Harris had been general sales and marketing manager for the company, a subsidiary of Terravest Inds.
  • Caperton creating Mount Vernon dining line
    Berkeley Springs, W.Va.— Solid-wood manufacturer Caperton Furnitureworks has signed a licensing agreement with Mount Vernon Ladies Assn. to produce dining furniture based on the archives and history of George Washington's home. When the collection debuts at the April High Point Market, Caperton will join a list of Mount Vernon licensees that includes upholstery by Taylor King, solid-wood ...
  • Vanguard developing Selke line
    Hickory, N.C.— Vanguard Furniture is working with designer Annie Selke to create a total home collection it plans to launch in midsummer, the upholstery manufacturer and case goods importer announced. Annie Selke Home will show the designer's classic yet innovative approach to home décor, according to Vanguard.
  • N.C. tax ruling shocks designers
    High Point— Leaders of three groups representing interior designers are spearheading an effort to overturn recent sales tax rulings by the North Carolina Department of Revenue, which they say could put many designers out of business. The groups say the state has begun requiring some designers to collect North Carolina sales tax on consulting fees from clients who also buy products from them.
  • Sun Capital bids for FBI
    St. Louis— Sun Capital Securities Group told Furniture Brands International officials last week that it was interested in acquiring the furniture importer and manufacturer. The Boca Raton, Fla.-based private equity group said in a letter to FBI that it would pay a "substantial premium" to the company's stock price, which closed at $10.
  • Toms-Price expands
    Wheaton, Ill.— Toms-Price is set to expand with its fifth Chicagoland store as the upscale retailer celebrates its 100th anniversary this year. The company, led by third and fourth generation members of the Price family, will open a two-level, 32,000-square-foot store in the affluent suburb of South Barrington.
  • MFA recognizes industry leaders at banquet
    Cedar Grove, N.J.— John Koziel was named 2007 Retailer of the Year by the Metropolitan Furnishings Assn. at its annual awards banquet here. More than 150 industry members, friends and family members attended the event. Koziel was in the roofing business before Carl Resnick hired him as a salesman for his Flemington Department Store in Flemington, N.
  • Hooker hires operations, merchandising execs
    Martinsville, Va.— Veteran sourcing, supply chain and logistics executive Sekar Sundararajan is joining Hooker Furniture in the new post of executive vice president — operations, the case goods and upholstery source announced. Also new to the company is James Millner, a 20-year veteran in youth bedroom merchandising and co-founder of Opus Designs, a youth furniture specialist acquir...
  • Bullock heads manufacturing at Stanley
    Stanleytown, Va.— Stanley Furniture has hired Steve Bullock to lead the company's domestic manufacturing operations at three locations. As senior vice president of operations, Bullock will supervise manufacturing for both company divisions — Stanley Collections and Young America — and will oversee purchasing and product engineering.
  • Globe Express unveils new logo, Web site
    Charlotte, N.C.— Globe Express Services, a third-party logistics provider with expertise in the furniture industry, has unveiled a new corporate logo and a new Web site. The logo, launched Feb. 1 at Globe's 35 offices around the world, replaces the one the company has used throughout its 34-year history.
  • CR-Home offers mixed container program
    West Lafayette, Ind.— CR-Home will soon open a West Coast warehouse and has launched a mixed container program. The program is in partnership with Global Link Logistics, a specialist in furniture shipments. Global Link will help CR-Home flow goods at container pricing from China or Vietnam with orders as small as 300 cubes.
  • FIT honors Ullman
    Dr. Joyce Brown, president of New York's Fashion Institute of Technology, greets Mike Ullman, chairman and CEO of JCPenney, at a benefit gala last month at which Ullman was honored by FIT and its Educational Foundation for the Fashion Industries. Proceeds from the event will benefit FIT's Educational Development Fund.
  • Tagers buy majority stake in Brown Street Furniture
    Whitefield, N.H.— Home furnishings veterans Adam and Kyle Tager have bought majority ownership of domestic case goods producer Brown Street Furniture. Brown Street has been manufacturing hardwood case goods in northern New Hampshire for more than 35 years. About half the line is solid cherry and the rest is a mix of maple, pine and ash.
  • Singapore show organizers say registrations up
    Singapore— Organizers of the International Furniture Fair Singapore/ASEAN Furniture Show say they are experiencing a rise in registrations, thanks to the change in dates to the second week in March. A statement issued by the show said registration is up 20% from the same period last year. It did not list registration figures, but the show's Web site said the 2007 event attracted 17,322 vi...
  • IFFS/ASEAN CEO resigns
    Singapore— The head of the group that helped organize the annual International Furniture Fair Singapore/ASEAN Furniture Show has left the organization to pursue other interests. Quek Chin Tuan was CEO of IFFS Pte Ltd., which was formed in 2005 as a subsidiary of the Singapore Furniture Inds. Council.
  • Elkhatib leaves Violino post
    High Point— Michael Elkhatib has left as vice president of sales and marketing for Violino, a contemporary leather upholstery manufacturer. Elkhatib is joining a South American manufacturer of residential upholstery, not currently trading in the United States. He will oversee merchandising and sourcing in China.
  • WHFA recognizes Jerome's
    Roseville, Calif.— San Diego-based Jerome's Furniture has won the Western Home Furnishings Assn.'s Retailer of the Year Award. Lee Goodman, president and CEO of the Top 100 company, along with store owners Jerry Navarra, chairman, and Ann Navarra, vice president of finance, will be honored during a dinner celebration May 20 at the Loews Ventana Canyon Resort in Tucson, Ariz.
  • Koplan is new WHFA president
    Roseville, Calif.— Keith Koplan of Vancouver, Wash.-based Koplan's Home Furnishings has taken office as 2008 president of the Western Home Furnishings Assn. Koplan said his goals for the year include staying focused on the long-term value of WHFA, creating value for the membership, and having fun.
  • Woodmarc ceases operations
    Durham, N.C.— Case goods producer and importer Woodmarc Enterprises has gone out of business and former CEO Jerry Ruff has launched a new company called Prestige Furniture. Woodmarc had closed its case goods factory in Winterset, Iowa, last summer and switched to an import business model. But the company was unprofitable and its owners, investment group Sentinel Acquisitions, decided to c...
  • Reed Elsevier puts Furniture/Today parent up for sale
    London— Reed Elsevier said last week that it plans to sell Reed Business Information, parent company of Furniture/Today. Crispin Davis, CEO of the Anglo-Dutch conglomerate, said the move to divest the magazine publishing division is aimed at reducing exposure to advertising markets and cyclicality.
  • Vegas reports attendance up 6% from a year ago
    Las Vegas— Attendance at the January Las Vegas Market was up 6% from the previous January and up 23% from the July event, according to market organizers. Attendance from outside the United States and from the U.S. eastern region was up, and more interior designers came to the market, World Market Center officials said.
  • WMC petition seeks lower rents
    Las Vegas— A World Market Center exhibitor has sent an e-mail to dozens of other tenants asking them to sign a petition seeking lower rents from building management. The message, sent by Robert Weiss, president of home accents and accent table source Robert M. Weiss Presents, also asks recipients if they would be willing to help pay for a lawyer to help present their case to WMC officials.
  • American Dream Rooms appoints O'Neill
    High Point— American Dream Rooms, the U.S. marketing and distribution arm of Shanghai-based case goods manufacturer Dream Rooms, has named Bob O'Neill senior vice president of sales. For the past two years, he has been vice president and national sales manager at case goods importer Acme Furniture.

Opinion Today
  • No-no-no is a no-no for our business
    With all the dark news about retailing in furnitureland — just driving by empty Levitz stores brings a flood of memories — there's not much to bring smiles to peoples' faces. The mood from Las Vegas was upbeat to a point, but there was little that sent the blood rushing in the retailers in attendance.

People Today
  • People Today
    Executives Marks Plier Itasca, Ill. — David Plier has been named a partner in the full-service advertising and interactive marketing firm Marks Plier Creative Marketing Group, formally known as Marks & Whetstone. Plier has been CEO of the 30-year-old agency, which has a number of furniture industry clients, since 2005.

Special Report
  • Entertainment
    TV consoles are moving on up
    High Point— As flat-panel televisions continue to drive changes throughout the furniture business, television consoles are becoming a lot like your kids. They're growing up fast. Not all that long ago, virtually all consoles were designed so the television was 24 to 28 inches off the floor. But today, those units appear vertically challenged.
  • Retail Finance
    Finance sources develop new approaches
    High Point— The current credit crunch has affected furniture consumers and retailers alike: Consumers are seeing increased scrutiny of their credit applications, and retailers are taking a more conservative view on how extensive their promotions will be, say financial industry observers. By necessity, many successful retailers are cutting back on the "no, no, no" model, limiting purchases...
  • Retail Finance
    Tight credit also impacting producers, importers
    High Point— The credit crunch is having an impact on producers and importers as well as retailers. Don Morrison, executive vice president of GMAC Commercial Finance, Commercial Services Division, which provides financing to manufacturers and importers, said that the downturn in the housing market has been a drag on the entire furniture industry.

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