August 27th, 2010 at 07:00am
Under Furniture News
After several years of absence, 828 International Trading Co., an area rug house, is returning to the fall High Point Market. President, John Shephers said that the company will be occupying a space in the Suites at Market Square that is temporary. 828 has had a permanent showroom in Atlanta’s AmericasMart for a long time.
“Over the past few years we’ve increased our focus on furniture retailers as a significant channel of distribution,” he explained. “With High Point Market being the largest furnishings industry trade show in the world, it makes good strategic sense to realign ourselves with this market.”
The new space occupied by 828 International will be located in the new rug gallery that is on the top floor of the Suites at Market Square in space 1-716. The company will be presenting its new 2010 product introductions and displays and will be displaying some of their machine and hand made collections they currently have.
By MCC
August 26th, 2010 at 07:00am
Under Furniture News
With just over $2 billion in sales last year, the network of Ashley Furniture HomeStores has regained the number one spot as the nations largest bedding and furniture retailers. That spot was formerly held by Wal-Mart. It’s the second time that the network of corporate and licensed stores based in Wisconsin have been on the top of the list.
Wal-Mart slipped down to the number two spot with sales that were estimated at $1.95 billion in bedding and furniture. That total reflects a 3.6 percent decrease from the year before when it barely beat Ashley with $12 million more in sales. If you’d like to see the complete report you can check the August 23 edition of Furniture Today or visit their website.
By MCC
August 25th, 2010 at 06:10am
Under Furniture News
The International Home Furnishings Center (IHFC) has announced that three more vendors have made committments to expand and relocate showrooms at this falls High Point Market.
Bedroom and entertainment supplier, Red Dog will now be showing in IHFC showroom H730. “We have experienced the short term success of showing in High Point,” said Red Dog’s Jeff Winans. “Now we’re ready to make a long-term commitment. We knew that the IHFC was the obvious choice.”
Sharelle Furnishings, a comtemorary furnishings supplier, will now be in IHFC H538 instead of the Artrium. “We felt to get to the next level, we needed to emphasize our High Point Market presence and we had to move the showroom to the IHFC,” said Sharelle’s Jack Kiesler.
Entertainment console and bench made oak bedroom supplier, Furniture Traditions has chosen to relocate their showroom to the High Point Market from the Las Vegas Market. Furniture Traditions will be located in the IHFC showroom H1003.
By MCC
August 24th, 2010 at 07:00am
Under Furniture News
An updated outlook for the office furniture industry predicts that the industry should see modest growth rates for the remainder of this year. However, those increases will still result in flat total sales for the year. But, the updated outlook also predicts that the industry will realize solid growth next year.
The 2009 downturn that saw shipments decline by almost 30 percent is still causing a slow recovery for the office furniture idustry. The Business and Institutional Furniture Manufacturer’s Association released the updated outlook with new predictions from the ones released three months ago. A o.5 percent decline in shipments in North America for this year is predicted. In May, BIFMA released a outlook that estimated a 5.1 percent decline.
A second quarter that was better than expected combined with the predicted 2 percent growth during the third and fourth quarters, has led to the update in th eoutlook. After a decline of 11 percent in shipments during the first quarter, shipments increased 3.6 during the period from April to June.
Second quarter orders for the spring increased 13 percent over the totals for 2009. That increase is the basis for the predicted solid base in increased shipment for the third quarter. Although, the predictions shine a little hope on the industry, no one can be sure what the economy is going to do.
By MCC
August 22nd, 2010 at 07:00am
Under Furniture News
Furniture maker Flexsteel reported a record income increase for the fiscal year of 2010. From a loss of $1.5 million last year, Flexsteel’s net income rose to a staggering $10.8 million. The Dubuque based furniture manufacturer reports these earnings after several quarters of losses. The report, released this past week detailed the fourth quarter to the end of the fiscal year that ended on June 30.
Flexsteel also reports that their net sales increased for the quarter and the fiscal year, operating income increased and general and administrative expenses decreased. “Overall, we’re pleased with the progress we’ve made,” said Ron Klosterman, president and CEO of Flexsteel, in a conference call with investors Thursday.
By MCC
August 21st, 2010 at 07:00am
Under Furniture News
In addition to the 25 companies that sponsor the High Point Premarket, 33 exhibitors have said that they will be opening their doors for the High Point Premarket that is scheduled for September 13 to 14. Furniture/Today will be running updates on new companies that plan to exhibit periodically before the event.
Premarket is held around a month before the spring and fall markets held in April and October. This allows manufacturers and suppliers to have a chance to show their new product prototypes before the market. This years fall market opens on October 16. Building sponsers will include the 220 Elm, International Home Furnishings Center and the Merchandise Mart Properties Inc.
Some of the exhibiting sponsers include American Drew/Lea/Hammary, Broyhill, Hooker, Natuzzi, Vaughan Bassett and Stanley. For a full list of exhibitors you can visit Furniture Today’s website. If you’d like to be included on the updated lists you should email Staff Writer Heath E. at hcombs@furnituretoday.com
By MCC
August 20th, 2010 at 07:00am
Under Furniture News
Kindel Furniture, a manufacturer of high end case goods and one of the last furniture producer in Grand Rapids, Michigan, has merged with the Taylor Co., a wood component and furniture supplier. The merger will combine the craftsmanship and designs of Kindel with the automated manufacturing processes of Taylor. According to officials, the merger is anticipated to help strengthen the brand.
“This is textbook example of how two companies with complementary business structures can merge to create a much stronger corporation,” said James Fisher, the current CEO of Kindel, who will be the company’s chairman once the merger is finalized. “Kindel is providing the reputation earned over the past 109 years, experience and techniques of old-world craftsmanship, designs and licenses, and customer relationships,” he added. “The Taylor Co. is contributing advanced techniques in woodworking and modern business methods that will make Kindel much more ‘custom capable,’ which is the inescapable trend in fine furniture buying today.”
Over the next several months, Kindel will be moving its operations from the current 170,000 square foot facility to the 92,000 square foot Taylor facility in Grand Rapids. Taylor Co. also owns Superior Furniture, a producer of high end bedroom and occasional furniture. And, they own Taylor Millwork, a producer of exterior and interior doors and cabinets.
By MCC
August 19th, 2010 at 07:00am
Under Furniture News
For the first fiscal quarter of the year La-Z-Boy reported a net loss of $195,000. The upholstery and case good manufacturer cited the rising costs of raw materials and shipping delays from Asia and Mexico. The disruptions in supply resulted in the largest impact hitting the upholstery segment which saw a margin slip to % percent.
“Our results for the quarter were impacted by a confluence of factors,” said Kurt Darrow, president and CEO. “These issues, including higher raw material costs, supply chain disruptions, storms which delayed shipping from our Mexico cut-and-sew operation and inefficiencies in Mexico as we transition all custom cut-and-sewn product from our U.S. operations, have abated somewhat and are not anticipated to impact our results throughout the remainder of the year to the extent they did this quarter.”
Darrow said that delays in shipping cut and sew kits to their U.S. factories from Mexico were caused by flooding from Hurrican Alex. To make matters worse, Asian suppliers were delayed in shipping fabrics. “Although there were many factors in the first quarter affecting our ability to run our operations with normal efficiencies, most of them are behind us,” Darrow said. “We are seeing an easing in raw material pricing and are in a better in-stock position with cover as the supply chain disruptions are being minimized.”
By MCC
August 18th, 2010 at 10:30pm
Under Furniture News
Jane Seymour, actress, designer, artist and author will be hosting the 22nd annual American Furniture Hall of Fame Induction Banquet in High Point. The banquet will be held during the High Point Market on October 17. Industry Fellows that will be recognized for their contributions, accomplishments and leadership in the industry include Gerald Birnbach, Manuel Capo and Darrell and Stella Harris.
“Jane is passionate about design and home furnishings,” said Jeff Cook, president of the Hall of Fame Foundation. “Her elegance will make the evening more memorable as we honor our new Industry Fellows and celebrate the accomplishments of the visionary leaders of our industry.”
Seymour, who has teamed with AICO CEO Michael Amini to create a licensed furniture line for that company, added, “It will be an honor to be in the company of such creative people who have inspired me to work in an industry that I love, which has made such an impact on our daily lives.”
The deadline to make reservations for the banquet is October 1. The tickets are $125 and can be purchased online Furniture Hall of Fame. You can also purchase tickets by email or by contacting the Hall of Fame Foundation directly.
Email: banquet@furniturehalloffame.com
Phone: 336-882-5900
By MCC
July 31st, 2010 at 07:00am
Under Furniture News
Great American Furniture Services made the only bid to conduct the liquidation sales for almost 40 stores that Jennifer Convertibles plans to close. On July 18, the Top 100 company filed Chapter 11 citing the company’s lack of liquidity. The company has indicated that it has plans to close the stores in an effort to return to a profitable state.
Jennifer Convertibles is also asking for court approval for a deal that they had reached prior to the filing. Under the deal, the company’s largest creditor Haining Mengnu, a Chinese upholstery producer, agreed that it would convert a big portion of the debt to 95 percent common equity stake in the company. Jennifer’s other creditors would hold the remaining 5 percent.
Jeff Yellen, Great American CEO, has confirmed that they will conduct sales at 32 of the 137 stores for a maximum of 60 days. The sales which were set to begin on July 26 have been delayed due to court procedures.
By MCC
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