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Furniture|Today -- 03/24/2008
Editor's Desk
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Moms share buying insights
While attending the recent Kids Today conference, I had the pleasure of moderating a panel of consumers. We discussed how often they shop, where they shop, how they use the Internet as part of the shopping process, how much emphasis they place on brand, and whether they have a budget or not. It was a real eye-opener.
Industry Numbers
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BMTC revenue grows 1.6% in 4Q
Montreal— BMTC, Quebec's largest full-line furniture retailer, reported that its sales were slightly up and earnings slightly down in the fourth quarter. Revenue came to C$223.6 million, up 1.6% from the comparable 2006 quarter, while net earnings declined 2.5% to C$16.1 million. Earnings per share, however, rose to 52 cents from 50 cents a year earlier because of the company's share buyb...
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Bassett ups dividend 12.5%
Bassett, Va.— Bassett Furniture Inds. said last week its directors have voted to increase the company's common stock dividend by 12.5% and to pursue a more aggressive share repurchase program. "We remain very committed to the furniture business and are fortunate that, even in these difficult times for the industry, we are in a position to take these steps to prudently return value to our ...
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Dorel furnishings sales sag but other segments better
Montreal— Dorel Inds. said its home furnishings revenues declined last year, but gains in the juvenile and recreational segments lifted the consumer products giant to modest sales gains. Dorel's total revenues for the fourth quarter, ended Dec. 30, were $458.9 million, up 2.4% from the comparable period the previous year.
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Tempur-Pedic sales sagging this quarter
Lexington, Ky.— Tempur-Pedic has warned that it expects a first-quarter sales decrease in the high single-digit percentage, resulting in earnings per share that are about half what the company posted in the comparable 2007 period. "Based on recent industry data and feedback from retailers, we believe the U.
News
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Industry remembers Leslie Fishbein
Denver— Vibrant, intelligent, spirited, the conscience of the industry. These are the words friends used to describe Leslie Fishbein, president of retailer Kacey Fine Furniture, who died here last week. Fishbein, 55, had been hospitalized since March 4, when she suffered an adverse reaction and cardiac arrest after receiving an injection to relieve pain from a previous horseback riding in...
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Progressive moves into Sauder showroom
High Point— Sauder will show all of its products under one roof for the first time at next month's High Point Market as Progressive joins its sister companies in the 220 Elm, space 218 showroom. Progressive, Sauder's assembled case goods division, had been showing in Plaza Suites on the third floor but needed less space after shutting down its Royal Patina line.
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Sun Delivery expands fleet
Thomasville, N.C.— Sun Delivery, a fast-growing home delivery service based here, has added more than $1 million worth of rolling stock to its fleet. The new vehicles represent the company's continued commitment "to provide the highest level of white-glove delivery service in the country," said Rick Phillips, president.
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Chinni to lead Fortunoff, under new owners
Uniondale, N.Y.— Fortunoff's new chairman and CEO, retail veteran Charles Chinni, said he's looking to stabilize the struggling retailer and turn its fortunes around. "Fortunoff is an iconic brand — I've referenced them for years during my career at Macy's and JCPenney," said Chinni, who was named to the retailer's top job this month after it was acquired by equity fund NRDC, which ...
- Obituaries
Obituaries
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Rowe to close N.C. Clayton Marcus plant
Hickory, N.C.— Virginia-based manufacturer Rowe Furniture said it plans to close its Clayton Marcus factory here and move production to its modern facility in Elliston, Va., to maximize efficiencies. The transition is expected to be done by the end of this year or early next year. The company said it was announcing the decision "sooner than later" out of respect for the Hickory plant's 23...
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FBI to separate Drexel, Henredon headquarters
High Point— Furniture Brands International said last week it plans to move the Henredon and Drexel Heritage headquarters, now in a single building, into two separate locations before the October High Point Market. Management of Henredon, including sales, marketing, finance and merchandising functions, will relocate to the Plant 37 manufacturing facility at 741 West Ward Ave.
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CPSC: Imported uph. would require FR test
Greensboro, N.C.— Retailers who buy upholstered furniture from abroad will be responsible for testing the products to make sure they meet a proposed U.S. flammability standard, a staff member of the federal Consumer Product Safety Commission said here last week. "Retailers who import are (considered) the same as a manufacturer.
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Sauder to trim RTA product line by over a third
Archbold, Ohio— Ready-to-assemble producer and importer Sauder Woodworking will reduce the number products it manufactures by more than a third and will downsize its staff as it aims to operate more efficiently, the company announced last week. The moves are part of Sauder's new Sustainable Business Plan, which aims to make the company a leaner operator.
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Colonial Mills hires Roy Evans
Pawtucket, R.I.— Roy Evans has been named vice president of sales and marketing for area rug and accessories manufacturer Colonial Mills, a new position at the company. He reports to Donald M. Scarlata, president. Evans, a 30-year industry veteran, was most recently executive director for national sales for Feizy Import & Export Co.
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Spryshak named VP sales at Ficks Reed
Cincinnati— Wes Spryshak has joined wicker and rattan specialist Ficks Reed as vice president of sales, a newly created position. Spryshak had worked in the point-of-purchase packaging and display graphics industry. Previously, he was involved in furniture retail buying and store management at the former 84 Furniture Shoppe, a division of LDI, based in McMurray, Pa.
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Furniture Classics hires rep group
Norfolk, Va.— Accent furniture specialist Furniture Classics Ltd. has hired Los Angeles-based California Marketing Associates to represent its line on the West Coast. CMA has also agreed to represent the company's Two Palms Casual furniture division, featuring products made with natural woven materials.
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Canwood closing operations this summer
Penticton, British Columbia— Solid-wood, ready-to-assemble specialist Canwood Furniture will close this summer, a victim of a tightening labor market, the rising value of the Canadian dollar, the surge of imports from Asia and a weakening retail environment in the United States. "It is our intention to wind-up the business in mid-July," Canwood President Mel Kemp said.
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Hafner shuts down plant
Granby, Quebec— Canadian textiles producer Hafner Inc said last week it will cease operations at its weaving plant here on May 2, effectively ending its furniture fabric sales in Canada and the United States. In a brief news release, the company cited "the American recession, mortgage loan crisis in the United States and unfavorable exchange rate of the American dollar (that) have had har...
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Vaughan to close last U.S. plant
Galax, Va.— Longtime case goods producer Vaughan Furniture said last week it will close its last domestic manufacturing facility beginning about May 20. About 275 jobs, including corporate positions, will be eliminated with the closure of the B.C. Vaughan plant. The company will continue to operate the T.
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AHFA, NHFA support fire sprinklers in stores
High Point— A proposed building code change supported by the industry's two largest trade associations would require fire sprinklers in stores that stock much upholstered furniture. The American Home Furnishings Alliance and National Home Furnishings Assn. said they joined forces in March to propose a change in the commercial building code to improve fire safety for retail employees, cust...
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Correction
A caption accompanying a story on the expansion of Motif Modern Living on page 38 of Furniture/Today's March 17 issue misidentified John Perez, one of the retailer's owners.
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Armen Art owner buys producer Italmond
Los Angeles— The owner of contemporary furniture manufacturer Armen Art Furniture has purchased high-end custom furniture manufacturer Italmond. Armen Art owner Kevin Kevonian bought the company from Five Crowns Capital, a private equity firm managed by former Italmond CEO Jeff Schaffer and Vice President Charles Stevens.
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Norwalk renaming stores
Norwalk, Ohio— Norwalk — The Furniture Idea is changing its name to Norwalk Furniture & Design and offering its franchisees an optional interior revamp. The upholstery producer, which has a dedicated network of stores, said all 59 franchise locations in the United States and Canada will be renamed as will three of the five corporate-owned stores.
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Fabric co. sets furniture line
High Point— China-based textile manufacturer Home Fashions International is about to introduce its own line of upholstered furniture. HFI said it will enter the upholstery manufacturing business with the launch of Westgate Home Furnishings at the April High Point Market. David Li, owner and CEO of HFI, a $160 million company based in Shanghai, has named Tom Carter president of Westgate an...
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Howard Miller launching line with TV's Pennington
Zeeland, Mich.— Case goods source Howard Miller is launching a product line licensed with Ty Pennington, home décor expert and host of ABC's "Extreme Makeover: Home Edition." The manufacturer believes the collection — Howard Miller Home Storage Solutions by Ty Pennington — has enough customizable options to appeal to the do-it-yourself lovers who watch the TV persona's pr...
Opinion Today
- Letters to the Editor
Letter to the editor
Early High Point start is troublesome In letters sent to exhibitors and buyers in early February, Tom Lindh, president and CEO of the IHFC, addresses several positive issues focused on the upcoming April Market. However, in those same letters he discusses that the IHFC is involved in "preparation" that offers buyers an early opportunity to shop the IHFC facility commencing April 4! I am sure th...
People Today
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Flexsteel honors gallery retailers
Las Vegas— Flexsteel Inds. honored four Flexsteel Signature Gallery retailers at its second annual President's Award presentation during the Las Vegas Market. Winners were Fashion Furniture, Fresno, Calif.; Riley's Furniture, Monroe, Ohio; Olum's of Binghamton, Vestal, N.Y.; and Garden City Furniture, Murrells Inlet, S.
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Appalachian Hardwood Manufacturers Inc. elects chairman, other officers
High Point— Rick Armstrong of Homer Gregory in Morehead, Ky., was named the chairman of Appalachian Hardwood Manufacturers Inc. at its 2008 annual meeting. He received the gavel from John Crites of Allegheny Wood Products in Petersburg, W.Va., at the trade group's Chairman's Banquet. Armstrong will lead the organization until 2010.
- People on the Move
People on the Move
Marketing/Sales Pilgrim Furniture City Southington, Conn. — David Bassett has joined Pilgrim Furniture City as managing partner for its new, state-of-the-art 80,000-square-foot showroom in Milford, Conn. The showroom was designed by retail designer firm, Connie Post Companies. Bassett, a 19-year veteran of the home furnishings industry, comes to the company from Lane Furniture, where he w...
Special Report
- Logistics
Rising fuel prices mean container costs are sure to jump
High Point— Against a backdrop of record fuel prices and the worst business climate in more than a decade, U.S. furniture importers are facing contentious contract negotiations with the shipping lines that bring their furniture here from Asia. Nearly all importers have shipping contracts that expire April 30, and it's a given that the price of sending each container to the United States w...
- Market Events
Where to find food, beverages, other services
200 N. Hamilton Grateful Bread Café 3rd floor, North Court 8 a.m.–4 p.m. Gourmet deli sandwiches, fresh salads, homemade soups. DeBeen Espresso 1st floor, South Court 8 a.m.–5 p.m. Fresh coffee, pastries. 200 Steele Café on Steele Suite 134 8–10:30 a.m.: Complimentary coffee, danishes.
- Market Events
Elite Leather, Nathan Turner team up on uph. line
Los Angeles— Custom leather upholstery specialist Elite Leather has teamed up with designer and furniture impresario Nathan Turner to create an upholstery line. Inspired by Turner's world travels, the Nathan Turner for Elite Leather collection is his first licensing venture. The domestically produced 20-piece assortment will feature sofas, chairs and ottomans dressed in leather and fabric.
- Logistics
Warehouses: A key link in supply chain
High Point— Quick shipping isn't as quick as it used to be, but logistics experts say an efficient warehouse program can go a long way toward reducing delivery times from a supply chain that stretches to Asia and beyond. Warehouse management, in fact, may be the key link in that chain as both furniture suppliers and retailers strive to satisfy the consumer's need for instant gratification...
- Logistics
Home delivery services growing
High Point— It's no secret that the economy may be slipping into a recession and dragging the furniture industry along with it, but purveyors of home delivery services say their business is faring quite well in spite of the difficult business climate. In fact, executives say the recent tough sledding at retail has prompted many large and small stores to take a second look at their service...
- Logistics
Q&A: What's your biggest logistical issue?
High Point— Transportation is emerging as one of the bigger challenges within furniture retail, as fuel prices escalate and the industry continues to change from one that was based on domestic production to one in which inventory is largely sourced overseas. That change affects transportation, because product once delivered over highways by truck now comes by ship and rail.
- Logistics
Association Spotlight
International Furniture Transportation and Logistics Council Headquarters: Gardner, Mass. Key contact: Ray Bohman, managing director Phone: (978) 632-1913 or (508) 945-2272 Website: www.iftlc.org Background: Founded in 1926 as the National Furniture Traffic Conference, the group changed its name in 2000, and now acts as a professional association for retailers, manufacturers and transportation ...
- New at Market
Motion
All prices retail. In-depth stories on motion introductions will appear in Furniture/Today's opening day issue. Aspenhome IHFC M-1301 C2 Seating, a power motion program, adds a sectional configuration to the Bel Aire, Beverly Hills and Burbank groups. Barcalounger Home IHFC C-754 Marketing programs: Expanding special-order capability on two best-selling import collections.
- New at Market
Home office
All prices retail. In-depth stories on home office introductions will appear in Furniture/Today's opening day issue. Aspenhome IHFC M-1301 Kensington home office collection is being introduced at a new opening price point. Pieces can be mixed and matched in traditional or L-shaped configurations. Offerings include 48-inch and 60-inch writing desks, hutches and rolling files.
- New at Market
Bedding/metal beds
All prices retail. In-depth stories on bedding introductions will appear in Furniture/Today's opening day issue. Bemco 111 E. Green Dr. In recognition of the company's association with the U.S. gymnastics team and the upcoming Olympics, Bemco is introducing three new mattress sets: the Gymnast Bronze, Gymnast Silver and Gymnast Gold models.
- New at Market
Rugs
Unless otherwise noted, prices quoted are retail for approximately 5 by 8 size. Stories on rug intros will appear in Furniture/Today's opening day issue. AMS Imports SMS M-1110 525 N. Wrenn St. (Tomlinson/Erwin-Lambeth/Directional showroom) Capel MS 112 Colonial Mills SMS G 1332 Tisbury rug from the Elite collection coordinates with designer Lynette Jensen's Thimbleberries fabric and quilt patt...
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