December 8th, 2009 at 07:00am
Under Furniture News
The U.S. government has given La-Z-Boy $3 million in funds from the anti-dumping duties. In a filing with the Securities and Exchange Commission, the company announced that the funds will be reported on the their statement for the third quarter.
La-Z-Boy is just one of a number of manufacturers in the United States that received funds from the duties. These duties are designed to offset the damage that has resulted in Chinese producers charging prices on bedroom furniture that is way below market prices.
The duties payment is drastically lower than the company received a year ago which surpassed $8 million. U.S. Congress repealed the Byrd amendment two years ago that was responsible for sending the duties to the companies that had originally petitioned for an anti-dumping investigation.
By MCC
December 7th, 2009 at 07:00am
Under Furniture News
Simmons has decided to extend the nationwide retail Showroom On Wheels tour until December 18. The tour, is bringing the new ComforPedic Loft line to the retailers along the tour. The tour was scheduled to end in November, but it has had such good success that the company was prompted to keep the wheels rolling.
Original plans were for a 10,000 trip across the United States and some parts of Canada. Now, it will end with a 22,000 mile trip that covers 50 cities and enough miles to almost make a trip around the world. Scott Smalling, president of Simmons and Butch Webster, vice president, will be overseeing the sales presentations at each scheduled stop along the way.
“We launched the Showroom on Wheels because we thought retailers would appreciate the cost savings and convenience of having the ComforPedic Loft line brought to them,” said Scott Smalling, president of Simmons’ specialty sleep division, who is leading the tour. “However, I have to admit that the overwhelmingly positive reaction to the road show surpassed even my expectations.
The majority of the retailers we visited during the first phase of the tour have picked up the line. Such strong success combined with retailer interest in additional city stops made us realize that a tour extension was needed.”
By MCC