February 6th, 2010 at 07:00am
Under Furniture News
Although sales dropped 3.5 percent from last year, Bassett Furniture Ind. still reported a $2.6 million profit in the quarter that ended on November 28. The profit which equaled 22 cents per share, put a stop to a string of five quarterly losses in a row.
For that quarter Bassett’s net loss totaled $37.8 million which included a one time charge of over $30 million. This most current quarter included a one time tax benefit of $1.7 million and anti-dumping duties from Chinese bedroom furniture of $1.6 million.
Sales for the final period of the fiscal year totaled $59.5 million as compared to $61.7 million during the fourth quarter of 2008. The sales from the wholesale segment dropped 12.7 percent and sales at the Bassett Furniture Direct stores rose 21.4 percent. The substantial increase was credited mostly to the acquisition of nine more stores in 2009.
By slone
February 4th, 2010 at 07:00am
Under Furniture News
Well known actress Jane Seymour will be visiting the showrooms of some of her home furnishings licensees at the Las Vegas Market next week. Many of those licensees will be showing some of the products that were designed and created to complete or accent the Michael Amini/Jane Seymour Galleries collection that will be unveiled Sunday at AICO.
While visiting the market, Seymour will also be signing copies of her book, “Open Hearts”. She will be visiting several different showrooms. And, you can visit Furniture Today for a complete schedule of the times and locations where Seymour will be.
By slone
February 2nd, 2010 at 07:00am
Under Furniture News
Furniture Today is making requests for photographs of products that will be introduced at the Las Vegas Market. The photograpshs will be used for it’s Best of Market/Las Vegas section that will be appearing in the February 15 issue.
In order to be considered for the section, products need to be well received introductions at this months market. All categories of furniture and rugs will be considered in all price points. If you’d like to submit some photographs please send them to one of the addresses below.
The photographs have to be high quality, four color shots in slide, either print or transparency. Both scanned photographs and color digital photos will be accepted as long as they in JPG, TIFF or EPS at 300 dpi. and at least 4 X 5 inches in size. You will need to supply a printed version of any submitted electronic photographs along with the proper identification and a brief explanation of the products key features.
• Furniture/Today’s office in the World Market Center, space B-1642, by noon on Wednesday, Feb. 3.
• By e-mail to ftmarketguide@reedbusiness.com by 5 p.m. on Friday, Feb. 5.
By slone
February 1st, 2010 at 07:00am
Under Furniture News
Sealy is going to celebrate the Posturpedic brands 60th anniversary with a Posturpedic Anniversary collection. The brand still continues to place an emphasis on orthopedic health and collaborates with researchers, clinicians and orthopedic surgeons to develop their sleep products.
The new anniversary line will be retailing from $899 up to $1,199 and will still deliver the support and comfort of their previous collections. While comfort will be the main focus as with the rest of the Posturpedic products, the new line will also focus on visual appeal.
The foams used in the 60th Anniversary Collection will include Sealy’s memory foam and Smart Latex. The innerspring system will be Sealy’s Sense and Response Posture Tech Innerspring that is specifically designed to maximize weight distribution and support. The new collection will be on display at this weeks Las Vegas Market.
By slone
January 31st, 2010 at 07:00am
Under Furniture News
The new ChiliBed Mattress from Chili Technology will make it’s debut at the 2010 Winter Las Vegas Market. The mattress is made of a natural foam produced from 100 percent Soy foam and has the Chili Technology embedded into the mattress that will allow users to adjust the temperature of their bed from 48 to 118 degrees for customized comfort.
“You no longer have to fight with temperature at night,” said Todd Youngblood, CEO and co-founder Chili Technology. “ChiliBed solves the problem of heat build-up, one of the primary complaints people have about memory foam mattresses. Our proprietary Chili Technology cools and warms the ChiliBed from 48-118 degrees offering unparalleled temperature control, body support and pressure relief. ChiliBed reacts immediately to your body and conforms to your exact shape. Look no further for better more restful sleep.”
With the ChiliBed consumers can be eco-friendly in the bedroom. And, the memory foam soy mattress can be temperature controlled to provide relief from pressure and the maximum in comfort. The foam will adjust on weight instead of body temperature which allows each user to be comfortable. The 11 inch thick mattress will be available in all of the standard mattress sizes.
By slone
January 30th, 2010 at 10:59pm
Under Furniture News
The Furniture First Buying Group recently announced that it has finalized the plans for the Las Vegas General Membership Meeting. The meeting will be heald on February 1 from 4:30 p.m. until 6:30 p.m. on the 16th floor of Building B in World View.
The meeting will provide information about the membership Schedule of Events, updates on Merchandising and Marketing vendors, programs and specials and to welcome new members. There will be several guest speakers including Bryan Edwards, Sondra Newkirk and John McCloskey.
The staff of Furniture First will be in the B-962 showroom throughout the week to talk with current and prospective members. All current members are invited to attend educational seminars that have been arranged by the Furniture First Buying Group. And, there will be an Accessory Merchandising Workshop that is geared towards developing strategies that can help retailers increase their accessory and accent sales.
By slone
January 26th, 2010 at 12:00am
Under Furniture News
If you can’t attend the Las Vegas Market but don’t want to miss the festivities, you can watch them via a video broadcast every day. Furniture Today will be featuring the video broadcasts that will be shown every day from February 1 through 4.
The shows will feature reports and interviews with retailers and manufacturers hosted by Ray Allegrezza, editor and Chief. The special video broadcasts will be sponsored by the Las Vegas Market. You can follow the exclusive coverage of the Las Vegas Market on Furniture Today’s Las Vegas Market channel page.
By slone
January 25th, 2010 at 07:00am
Under Furniture News
La-Z-Boy recently announced that it will merge the division of Hammary Furniture into two sister companies, American Drew and Lea. Officials said that the consolidation of the company will start in March and be in full effect by the end of April.
Hammary specializes in bedroom and dining room furniture and occasional pieces. The merger will place most of La-Z-Boy’s case goods under the control of one management team. Lea focuses on bedroom furniture for youths and American Drew focuses mainly on bedroom furniture. As of now, no decision has been reached on which executives will be heading the merged companies.
By slone
January 24th, 2010 at 07:00am
Under Furniture News
Moosehead Furniture, a case goods manufacturer managed to keep from shutting down by filing Chapter 11 bankruptcy. Several prospective buyers were standing by anticipating an auction of the equipment to begin when the filing gave the company a last minute reprieve.
There were around 200 people, some with long trailers and trucks waiting for an auction to begin in the parking lot. And, some had even traveled across country in hopes of getting a bargain. The auction company was notified by phone that the shutdown had been canceled.
This marked the second time that Moosehead Furniture was scheduled to close. In 2007, a small group of investors purchased the company after the family that had owned it for 60 years announced that it would close because of the competition from imports with lower prices.
By slone
January 23rd, 2010 at 10:02pm
Under Furniture News
More and more designers are creating styles that reflect the tastes of young consumers. The fast growing “Tween” market includes kids up to 18 years of age and beyond. To cater to this market, Chromcraft Revington Inc. will debut a new line at the Las Vegas Market.
The CR Kids and Beyond line covers a variety of styles from Country French to Rustic and Cottage to Contemporary. The collection will be featured in Chromcraft’s 13th floor showroom in Building B. Dressers in the new line will be priced from $399 to $599 and headboards, bunks and beds will be priced from $199 to $999.
While the “Tween” market generally focuses on children that range from 8 to 12, Chromcraft is designing the new line to be used beyond the adolescent years. At the same time, Chromcraft hopes the line will go beyond parents expectations in quality, functionality and value.
By slone
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