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August 12,
2010 by in UnCategorized 
By Home Furnishings Business in economic news on August 13, 2010
The U.S. Census Bureau announced Friday that advance estimates of U.S. retail and food services sales for July rose 0.4 percent were $362.7 billion from June, and 5.5 percent above July 2009.
Those figures were adjusted for seasonal variation and holiday and trading-day differences, but not for price changes.
Total sales for the May through July 2010 period were up 5.9 percent from the same period a year ago. The May to June 2010 percent change was revised from -0.5 percent to -0.3 percent.
Retail trade sales were up 0.4 percent from June 2010, and 5.9 percent above last year. Nonstore retailers sales were up 12.6 percent from July 2009, and gasoline stations sales were up 12.2 percent from last year.
The advance estimates are based on a subsample of the Census Bureau's full retail and food services sample. A stratified random sampling method is used to select approximately 5,000 retail and food services firms whose sales are then weighted and benchmarked to represent the complete universe of more than 3 million retail and food services firms.
August 12,
2010 by in UnCategorized
By Home Furnishings Business in Advertising on August 13, 2010
Stacks Furniture Outlet is using a teaser campaign in advance of opening its first store next week in Pelham, Al., the Birmingham News reported Friday.
Stacks, a new Birmingham, Al.-based chain owned by Robert Kirchmeyer and Chip Miskelly, also an owner of Miskelly Furniture, Jackson, Miss., has placed billboards with the message "Birmingham--You're About to be Stacked" around the metropolitan area.
"It's just a teaser campaign meant to catch attention," Kirchmeyer said in the report. "Response has been great. People have been stopping by the store and applying for jobs."
Stacks has already hired 60 warehouse and management personnel plans to hire 10 to 15 salespeople by its August 26 grand opening. The retailer also is looking for a Labrador retriever to serve as the official "store dog" in Pelham.
August 12,
2010 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on August 13, 2010
An Ashley Furniture Homestore could open by Labor Day weekend in a former Goody's space in Macon, Ga., the Macon Telegraph reported Friday.
"Right now, we are working to be open for Labor Day weekend depending on construction," Bo Pennebaker, who owns the store with his brother Adam through their company, Pennebaker Enterprises of Hattiesburg (Miss.) Inc., said in the report.
A former Ashley Furniture Homestore location that had different ownership closed around two years ago.
The store, which should employ around 35 people, will occupy a 40,000-square-foot store now undergoing renovation.
August 11,
2010 by in UnCategorized
By Home Furnishings Business in Financial Reports on August 12, 2010
Stanley Furniture Co. (NASDAQ:STLY) announced Wednesday that second-quarter 2009 sales fell 10.5 percent from the same period last year to $37.9 million.
Net loss for the quarter was $11.5 million, or $1.11 per share, compared with a net loss of $3 million, or $.29 per share, in the second quarter of 2009. The 2010 second quarter-loss includes accelerated depreciation of $2.1 million and $1.2 million of charges related to the company's restructuring plan announced in May 2010.
Operating loss amounted to $11.4 million, compared with an operating loss of $4.1 million in the second quarter of 2009. The higher operating loss is primarily due to accelerated depreciation and charges related to the restructuring plan, manufacturing inefficiencies and the increased cost of transitioning approximately one-third of the Young America product line revenues from overseas into domestic operations, and lower overall sales across the company's various product lines.
"As expected, our second-quarter operating results excluding special items were similar to the first quarter," said Glenn Prillaman, president and CEO of Stanley, Stanleytown, Va. "Business conditions in the second quarter remained sluggish with a downturn in sales for June showing that today's consumer continues to take a cautious approach toward the purchase of wood furniture in our price segment.
"We are making good progress on the restructuring plan announced in May 2010 setting our path towards profitability. We continue to transition our two major product lines in opposite operational directions to better align operations with the factors which drive demand for each product line."
He added that the majority of the transition of Stanley's Young America product line is now complete.
"The increase in prices on this product line is now in effect and sales have stabilized after an anticipated initial drop," Prillaman said. "We expect to narrow our operating losses in the second half of this year due to this pricing action and improved operating efficiencies at our Robbinsville, N.C., plant. On the other hand, most of the transition related to the movement of our Stanley Furniture adult product line from a domestic to a global sourcing model lies ahead of us, and we expect to complete this transition over the remainder of 2010. The overseas factories to which we are moving product are already making a significant portion of this product line, and while there is heavy lifting yet to be done, we anticipate a smooth transition as we become increasingly important to these existing overseas suppliers."
August 11,
2010 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on August 12, 2010
The Furniture First buying group has selected Martin Roberts Design as a preferred designer for Furniture First's more than 178 members.
The new relationship results from Martin Roberts Design's association with Dovetail Alliance, a consortium of home furnishings industry service providers, which Furniture First has selected as a preferred provider.
Dovetail Alliance and its members offer a set of services to Furniture First members and will take part in the organization's annual member symposium, which features seminars and networking.
Martin Roberts Design specializes in turning retail stores, showroom space and products into a stimulating and engaging environment that encourages the sale of merchandise and services.
Harrisburg, Pa.-based Furniture First has 178 members with more than 385 storefronts nationwide, and more than $1.3 billion in annual retail volume.