Daily News Archive
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September 1,
2010 by in UnCategorized 
By Home Furnishings Business in Financial Reports on September 2, 2010
Pier 1 Imports (NYSE: PIR) reported total sales of $310 million for the second quarter ended Aug. 28, compared to $287 million in the same quarter last year.
Same-store sales for the quarter increased 11.2 percent compared to last year's comparable store sales decline of 7.6 percent. Same-store sales for the first six months increased 12.7 percent compared to a decline of 7.5 percent in the same period last year.
Total sales for the first half of the year increased to $616 million from $568 million for the same period last year.
"We are extremely pleased with our comp store sales results for the second quarter," said Alex Smith, president and chief executive officer. "August was particularly strong with the biggest comp of the quarter. We continue to see strengths in all parts of the country and in all merchandise categorieswith improvements in traffic, conversion and ticket. We are especially pleased to be showing positive comps on a two-year basis. Merchandise margins were solid and consistent throughout the quarter. We look forward to discussing our second quarter results in detail during our upcoming conference call."
Pier 1 will host a conference call Sept. 16 at 10 a.m. Central time. Interested parties can connect to the call through the retailer's investor relations section on the company's Web site.
The retailer has posted the press release online at its Web site.
September 1,
2010 by in UnCategorized
By Home Furnishings Business in Business Strategy on September 2, 2010
The International Casual Furniture & Accessories Market has partnered with Luxe Interiors + Design magazine to present "Inspired Exteriors."
The event is a day of educational programming focusing on exterior design and business practices. Set for Friday, Sept. 24, Inspired Exteriors targets landscape designers, architects and interior designers, and takes place during the Sept. 21-24 Casual Market at Chicago's Merchandise Mart.
"Inspired Exteriors is a great way for interior designers, landscape designers and architects to learn more about the new design opportunities that outdoor furnishings provide," said Jaclyn Kotzum, director of marketing, Casual Furnishings Industry, MMPI. "Attendees of Inspired Exteriors will see the newest products and design trends as well as all of the outdoor furnishing resources that The Chicago Merchandise Mart showrooms offer on a daily basis, year-round."
The program includes:
* "Perfect Porches: Designing Welcoming Spaces for Outdoor Living," 10:30 a.m. I Suite 1520, 15th Floor: Savannah College of Art and Design President and Co-Founder Paula Wallace will discuss the history of designing outdoor spaces and porches over the years and across the country. Wallace will illustrate how varied and iconic these American spaces can be and present a wealth of structural appointments and designs. The presentation also will provide practical ways to bring privacy to urban porches, adding chic accents to old-fashioned verandas, and creating coziness to modern environments.
* Inspired Exteriors Panel Discussion and Lunch, 11:30 a.m., Suite 1520, 15th Floor: Led by Luxe Interiors + Design magazine Associate Publisher,Lisa Fraiberg, interior design and landscape design experts will share important information about how they market to clients and work together to design outdoor spaces. Lunch will be available on a first-come, first-served basis. Expert panelists include: Susan Fredman of Susan Fredman Design Group, one of Chicagos most prominent residential interior designers; Tom Ferguson of Tom Ferguson Interiors, a full-service interior design firm; Scott Byron of Scott Byron and Company Landscape Architecture, an award-winning landscape architectural company with more than 27 years of premier architectural landscaping experience; and Michael Schmechtig of Schmechtig Landscape Company, a 23-year-old company serving the finest properties in Chicago and its North Shore and Northwest suburbs.
* Outdoor/Casual Showroom Tours: Following the panel, attendees are welcome to explore the permanent outdoor resources that The Merchandise Mart has to offer year round to landscape designers and architects
Visit the Casual Furniture & Accessories Market Web site, and click on "Register Now" to R.S.V.P. for "Inspired Exteriors" at the Casual Market and the show.
September 1,
2010 by in UnCategorized
By Home Furnishings Business in Financial Reports on September 2, 2010
Costco Wholesale Corp. (NASDAQ: COST) reported net sales of $5.9 billion for the month of August, an increase of 9 percent from $5.4 billion for the same four-week period last year.
Net sales for the fiscal 2010 fourth quarter ended Aug. 29 were $23.6 billion, an 8 percent increase from $21.9 billion during the same period last year.
For the year, net sales were $76.8 billion, a 9 percent increase from $69.9 billion compared to the previous year.
The retailer will release its operating results for the fourth quarter and fiscal year ended Aug. 29 on Oct. 6 along with retail sales for September.
The company operates 572 warehouses in the United States, Puerto Rico, Canada, the United Kingdomo, Korea, Taiwan, Japan, Australia and Mexico. Costco also sells online, and plans to open 10 locations in the first four months of fiscal 2011, prior to the end of calendar year 2010.
The complete release is online.
September 1,
2010 by in UnCategorized
By Home Furnishings Business in Bedding on September 2, 2010
Bedding supplier Tempur-Pedic International (NYSE: TPX) has named Brad Patrick executive vice president and chief human resources officer.
In the newly created position, Patrick reports to Mark Sarvary, chief executive officer of Tempur-Pedic, and is responsible for the company's worldwide human resources function.
"As Tempur-Pedic's business becomes larger and more global, two areas become increasingly important; that we continue to attract world class talent and that we continue to make Tempur-Pedic one of the best places to work," Sarvary said. "Brad's significant experience as a top flight human resources leader with extensive experience from Fortune 500 companies make him a perfect fit to lead the organization's focus in these areas as our new EVP of HR."
Patrick brings to Tempur-Pedic more than 20 years of business experience. Most recently, he was senior vice president for
Sara Lee Corp. Earlier in his career, he held senior human resources positions with
The Gillette Co., which became part of
Procter & Gamble,
Delta Air Lines and
Frito Lay.
September 1,
2010 by in UnCategorized
By Home Furnishings Business in Green on September 2, 2010
The entry deadline for the American Home Furnishings Alliance's 2010 Sage Award for environmental excellence in home furnishings and bedding is Friday, Sept. 10.
The entry form and entry guidelines are posted at www.SageAward.org. Manufacturers, retailers and suppliers to the residential furnishings and bedding industries are eligible to enter.
Now in its third year, the Sage Award program gives industry-wide recognition to companies whose environmental leadership illuminates a pathway of improvement that others in the industry can follow. Companies applying for the award should be able to demonstrate measurable progress in: reducing their environmental footprint; expanding their positive social impact; and operating a profitable business.
The online entry form includes three parts: a cover page containing company contact information; an executive summary describing the company's primary business objectives and environmental accomplishments; and, finally, a detailed questionnaire that explains sustainable business practices, environmental accomplishments and social impact with specific examples.
There is no cost for entry.
Three 2010 finalists will be announced during the Oct. 16-21 High Point Market. The winner will be celebrated Dec. 1 at the all-industry Sustainability Summit at the Hilton Asheville Biltmore Park in Asheville, N.C.
The Sage Award is sponsored by the American Home Furnishings Alliance and Cargill's BiOH polyols business. Applicants do not need to be AHFA members nor users of Cargill's BiOH polyols to enter.
The 2010 Sage Award entries will be judged by a distinguished panel of judges that has been expanded to include experts both inside and outside the residential furniture industry. They include: Ray Allegrezza, editor-in-chief of Furniture/Today; Mary Frye, president of Home Furnishings Independents Association; Ken Smith, managing partner, Smith Leonard; Heather Gadonniex, managing partner with MindClick SGM, a San Francisco-based consultancy specializing in sustainable business; Leslie Guevarra, associate editor at Greener World Media, publisher of GreenBiz.com, GreenerBuildings.com and GreenerDesign.com.
Also on the panel: Susan Inglis, executive director of the Sustainable Furnishings Council; Robyn Griggs Lawrence, editor-in-chief of Natural Home magazine; Jean Nayer, former editor-in-chief of Woman's Day Special Interest Magazines and author of "Green Living by Design"; Richard Prisco, professor of industrial design in the Department of Technology at Appalachian State University; Ryan Trainer, executive vice president of the International Sleep Products Association; and Steve Walker, assistant director of the Furniture Manufacturing and Management Center, North Carolina State University.
"There are three great reasons for companies to enter the 2010 Sage Awards," said Andy Counts, CEO of AHFA. "First, you can help 'raise the bar'--not just for your own company, but for the industry. Sharing the challenges and accomplishments experienced along your environmental journey helps others in their quest toward more sustainable operations. The end result is a better environment for us all."
The second reason is the opportunity for excellent publicity.
"All three finalists receive a customized video spotlighting their environmental accomplishments," Counts said. "The videos are featured on the Sage Award Web site for a year. Plus, all three finalists receive a complimentary registration to the all-industry Sustainability Summit and the opportunity to share their story with Summit attendees."
Finally, the Sage Award winner receives the opportunity to "pay it forward," Counts said.
"The winner receives additional exposure in the trade and consumer press, a beautiful, custom-designed award to display at corporate offices, and a $2,500 check from Cargill to donate to the non-profit environmental effort or charity of their choice," he said.