Daily News Archive
Brought to you by Home Furnishings Business
August 29,
2010 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on August 30, 2010
Bruno's Furniture will close its Oklahoma City furniture store this week, The Oklahoman reported Friday.
The store, which opened in 1958, grew to encompass 35,000 square feet.
"It's a sad feeling," Co-Founder Frank Bruno said in the report. "It's been really tough for us," adding that the store was profitable until around two years ago.
"Toward the end, we thought if we could just get a little boost of cash," President and Buyer Gina Bruno-Dunn said in the report. "But no banks would touch us because we had two years of a loss."
August 29,
2010 by in UnCategorized
By Home Furnishings Business in Financial Reports on August 30, 2010
Multi-channel retailer Design Within Reach (
Pink Sheets: DWRID) has approved a one-for-50 reverse stock split of its common stock.
The company's stock began trading on a split-adjusted basis Friday.
Upon the effectiveness of the reverse stock split, every 50 shares of the company's issued and outstanding common stock will automatically be combined into one issued and outstanding share of common stock without any change in the value of the shares. Following the completion of the reverse stock split, there will be about 5 million shares of common stock outstanding on a fully diluted basis.
Because of the split, the company's ticker symbol has temporarily changed to DWRID. After a 20-day trading period following the reverse stock split, the ticker symbol will revert to DWRI.
San Francisco-based Design Within Reach was founded in 1998.
August 29,
2010 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on August 30, 2010
Furniture Row, Denver, Col., and Regan Smith have a contract extension to drive Furniture Row Racing's No. 78 Chevy in the NASCAR Sprint Cup Series through 2012.
Smith, the 2008 Sprint Cup Rookie of the Year, is currently in his second season driving for the Furniture Row Racing team. Last year he competed on a part-time basis, entering 20 races. The 26-year-old native of central New York is running a full schedule this season and will do the same in 2011 and 2012.
"Regan is a young, talented driver with an outstanding future," said Joe Garone, Furniture Row Racing general manager. "He has done a great job as our athlete and also as a spokesperson for our organization. The contract extension does indeed express a serious commitment by both the race team and driver."
Smith, who has competed in 83 career Cup races since his debut in March 2007 at Bristol (Tenn.) Motor Speedway, also feels the energy and spirit of Furniture Row Racing's commitment.
"I am both happy and humbled about the contract extension," said Smith. "Furniture Row Racing is a team on the move. I feel we've made some big gains this season and we are all encouraged about the future. I really admire the behind-the-scenes work ethic and commitment of each and every member of this team. They want to win as bad as I do and I am proud to be their driver."
August 26,
2010 by in UnCategorized
By Home Furnishings Business in High Point on August 27, 2010
High-end vendor TRS Furniture & Textiles is expanding its
High Point Market showroom by 30 percent.
The project will be completed in time for the October Market, and the company will occupy the majority of the building at 320 N. Hamilton St.
We need more room to display our extensive line, said Sumner Finch, president of TRS. Our line continues to grow and the additional square footage will also give us space to undertake educational activities we want to pursue.
In addition to its upholstered furniture, TRS will display its line of more than 600 fabrics, most of them exclusive to the company and sourced from European and international mills. TRS sells fabric on a cut yardage basis as well as utilizing it on its frames. The company also has a large selection of leathers and trims. A portion of the expansion will focus on making the fabric area larger and more workable for customers.
Expanding our showroom and extending our lease is an indication of our strong commitment to the Hamilton Wrenn Design District, Finch said. The Design district is really the only place to be for high-end product, and we have been impressed with Hamilton Properties efforts on behalf of both exhibitors and buyers.
August 26,
2010 by in UnCategorized
By Home Furnishings Business in Bedroom on August 27, 2010
The U.S. Department of Commerce has extended the deadline for a preliminary ruling on the 2009 new shipper review of wood bedroom furniture from China.
The original deadline was this Saturday. The deadline for completion of the final results of these reviews is Dec. 27.
DOC said in its Federal Register announcement Friday that it needed requires additional time to examine surrogate value information in
these reviews. "Surrogate values" compute production costs in what DOC deems a market economy comparable to China, and applies those values to China, considered a non-market economy, to determine whether Chinese companies are pricing goods at less than fair value.