Ekornes North American Orders up 6% Through Third-Quarter

November 12, 2008  by in UnCategorized   

By Home Furnishings Business in Upholstery on November 2008 Norwegian seating manufacturer Ekornes Inc. reported Tuesday that its North American order receipts rose 6 percent for the first nine months compared of 2008 with the prior year, but sales are down in October.

“We are diligently working to expand our distributor network and to pursue a vigorous marketing strategy to counteract a decline in North American sales,” said Peter Bjerregaard, president of Ekornes, whose North American headquarters are in Somerset, N.J. “The strong influx of orders in the first three months of the year laid the foundation for solid revenues in the third quarter, although October sales weakened considerably.”

Company-wide, sales of Stressless chairs and sofas increased 5.5 percent over the first nine months of 2008.

“The weakening of the Norwegian krone and strengthening of the U.S. dollar over the past couple of months has made it possible to turn the company’s foreign exchange positions in a positive direction,” Bjerregaard said.

Companywide, in the third quarter of 2008, the Norwegian company reported generating gross operating revenues of NOK 624.3 million compared with 616.6 million last year, an increase of 1.3 percent. For the first nine months, companywide operating revenues were NOK 1.98 billion, an increase of NOK 41.7 million or 2.2 percent compared with the same period for 2007.