Daily News Archive
Brought to you by Home Furnishings Business
August 17,
2010 by in UnCategorized 
By Home Furnishings Business in Financial Reports on August 18, 2010
Full-line furniture vendor Chromcraft Revington (AMEX:CRC) reported its fifth consecutive quarter of improved operating results Tuesday, but it's still losing money.
Chromcraft Revington's second-quarter 2010 sales fell 4 percent to $14 million, compared with the same period in 2009; but the company reduced its comparative net loss by 45 percent to $1.3 million in this year's second quarter.
Sales for the first six months of 2010 were $27.9 million, a decrease of 11 percent from the same period in 2009. The net loss for the six months ended July 3, 2010 was $2.3 million, compared with $5.6 million for the same period last year.
Ronald H. Butler, chairman and CEO of Chromcraft Revington, West Lafayette, Ind., said that the restructuring and cost containment actions implemented starting in 2008 have made a significant positive impact on the 2010 first-half results and have helped reduce the effects of the economic downturn.
"2010 appears to be a continuation of the challenging economic environment for consumers," he added. "We continue to believe that when the furniture market improves, the company is well positioned to return to profitability."
Chromcraft Revington wholesales its residential furniture products under Chromcraft, Cochrane, Peters-Revington, Southern Living, and CR Kids & Beyond brands. It sells commercial furniture under the Chromcraft brand.
August 17,
2010 by in UnCategorized
By Home Furnishings Business in Financial Reports on August 18, 2010
Norwegian seating manufacturer Ekornes reported second-quarter 2010 revenue of NOK 1.5 billion, a 19 percent increase over the prior-year period.
Profit before tax for the second quarter this year increased by 72.8 percent to NOK 296 million.
New orders rose 10 percent in the second quarter compared with the same three months in 2010.
In spite of weak markets, Ekornes CEO Oyvind Torlen is satisfied with the company's overall performance.
"It shows the strength of our marketing concept, products, brand and dealer network," he said.
Ekornes has 100 additional employees now compared to one year ago, bringing its total to 1,600 worldwide, of which 1,400 work at the company's six factories in Norway.
"I'm impressed at the effort put in by our employees in all parts of the production," Torlen said, adding that employees could expect an annual bonus of 86 percent of monthly salary based on this result.
August 17,
2010 by in UnCategorized
By Home Furnishings Business in Delivery on August 18, 2010
Furniture Brands International (NYSE:FBN) has leased 109,000 square feet of warehouse space in north Houston, the Houston Business Journal reported Tuesday.
The 487,000-square-foot building was erected last year by Panattoni Development Co., Sacremento, Calif. St. Louis-based Furniture Brands' move fills the facility, whose other tenants include Houston Furniture Partners, a local Ashley Furniture Homestore licensee, and Velocity Acquisitions.
Patrick Rollins and Joseph Smith of CB Richard Ellis Inc. represented FBI in the transaction.
August 17,
2010 by in UnCategorized
By Home Furnishings Business in Tablets and Pads on August 18, 2010
Elite Home Theater Seating has manufactured
the world's first-ever iPad Chair. The chair, which is aimed at the home theater seating market. The chair is a leather seat, with the "sleek styling of a European sports car," featuring the Luxa2 H4 iPad holder mount for the iPad in the seat's cupholder.
The iPad can be adjusted up to 360 degrees, as well as shown horizontally or vertically.
The chair also includes an adjustable headrest, a seat cushion that provides equal weight distribution, and an ergonomically-designed seat back.
See a YouTube demonstration of the iPad Chair.
August 16,
2010 by in UnCategorized
By Home Furnishings Business in Community/Charitable Support on August 17, 2010
Home furnishings retailer Leon & Lulu received a special award for support of non-profits at the 59th Annual Retailer Excellence Awards in New York City.
Mary Liz Curtin, co-owner of Leon & Lulu, Clawson, Mich., accepted the Special Award for Service to the Community, a surprise category created especially to recognize Leon & Lulu's achievement of hosting 65 in-store events in 2009, the majority of which supported local nonprofits.
Hosted by Gift & Decorative Accessories at The Lighthouse at Chelsea Piers, the event attracted hundreds of industry leaders from around the country who were in town to attend the New York International Gift Fair.
The judges also crowned Curtin "Queen of Quite a Lot" in recognition of her unforgettable personality and approach to business.
"I encourage other retailers to support local charities any way they can," Curtin told the gathering. "It makes you feel great, broadens your reach and every charity needs as many friends in the business community as possible."
Leon & Lulu is a 15,000 sq.ft. home furnishings, gift and accessories destination in metropolitan Detroit located at 96 W 14 Mile Road in Clawson, Michigan.