Daily News Archive
Brought to you by Home Furnishings Business
July 20,
2010 by in UnCategorized 
By Home Furnishings Business in Financial Reports on July 21, 2010
Furniture manufacturer and store network operator Ethan Allen Interiors Inc., Danbury, Conn., (NYSE:ETH) anticipates an 18 percent fourth-quarter sales increase.
That word came in an announcement of a regular quarterly 5-cents-a-share cash dividend payable Oct. 25 to shareholders of record Oct. 11.
Ethan Allen Chairman and CEO said the furniture manufacturer and retailer also expects fourth-quarter bottom-line improvement.
"While we plan to announce our earnings on August 5, we are pleased to report net sales for the quarter ended June 30, 2010, were approximately $163 million, an increase of 18 percent from the same quarter last year," Kathwari said. "We expect our diluted earnings per share for our fourth fiscal quarter to be in the range of $0.30 to $0.32 compared to a loss per share of $0.23 in the previous year quarter, excluding restructuring, impairment, and related transition costs in both periods."
Kathwari added that written retail division written business increased 23 percent compared with the prior year fourth quarter. A conference call to discuss the fourth quarter and 2010 fiscal year is scheduled for August 5 at 11 a.m. EDT.
July 20,
2010 by in UnCategorized
By Home Furnishings Business in Business Strategy on July 21, 2010
The Western Home Furnishings Association and former members of Next Generation have teamed to resurrect the group with Next Generation-NOW.
Next Generation-Now focuses on the professional development of up-and-coming home furnishings industry leaders.
Next Generation-NOW will host a kick-off reception at the upcoming Las Vegas Market on Tuesday, August 3, 5-6 p.m., in the One Six Club on the 16th floor of Building B. Past members of the original Next Generation group and future industry leaders are encouraged to attend.
Twenty five years ago, the Next Generation group was formed after an Olympia, Wash., furniture dealer became concerned about transitioning his five children into the family furniture business. He worried hat the furniture industry was losing the next generation of retailers to "sexier" industries such as computer technologies and financial brokerages.
The group held annual conferences to assist the sons, daughters and key-managers in becoming the future leaders of their family's furniture business. The conferences focused on developing skills through peer-to-peer networking, management training, tax/succession strategies and inter-personal relationships.
The revived group will again focus on up-and-coming professionals entering the home furnishings sector.
Next Generation-Now has received a major sponsorship from FurnitureDealer.net. Other Next Generation-Now sponsors include: Aspenhome, Associated Volume Buyers, Emerald Home Furnishings, Lane Home Furnishings, Pacific Furniture Dealers and Western Home Furnishings Association.
July 20,
2010 by in UnCategorized
By Home Furnishings Business in Bedding on July 21, 2010
Mattress manufacturer Tempur-Pedic, Lexington, Ky., (NYSE: TPX), reported second-quarter 2010 net sales rose 42 percent to $263 million, compared to the prior year.
The company almost doubled second-quarter net income this year with $33.5 million, compared with $16.9 million in the second quarter of 2009.
Chief Executive Officer Mark Sarvary commented, "We are very pleased with the continued substantial growth in our North American business and we are also pleased with the improved performance of our international business, particularly on a local currency basis," said CEO Mark Sarvary. "Our focus on improving gross margins and operating costs continues to be effective. Although the macroeconomic environment is still uncertain we remain confident of the potential to significantly grow sales and earnings over the coming years. We will continue to invest in initiatives that will drive growth over the long term."
Tempur-Pedic also increased its full-year 2010 guidance for net sales and earnings per share. It currently expects net sales for 2010 to range from $1.06 billion to $1.10 billion; and earnings per share to range from $1.85 to $2 per diluted share.
July 20,
2010 by in UnCategorized
By Home Furnishings Business in Las Vegas on July 21, 2010
Massage chair and recliner vendor Human Touch, Long Beach, Calif., will launch Human Touch Wellness Studio, a store gallery and sales program at Las Vegas Market.
Human Touch will show the program to furniture retailers in its showroom, B-9000 of World Market Center, during the August 2-6 furniture market.
"The Human Touch Wellness Studio creates an enticing, interactive environment whereby the Human Touch story can be told, strengthening brand awareness and the consumer's decision to buy," said Human Touch President Andrew Cohen. "Unlike other gallery programs, a Human Touch Wellness Studio requires little to no inventory to participate and guarantees greater profitability than the industry average."
Human Touch's line of Perfect Chair Recliners includes a collection of sleek relaxation chairs that incorporate zero-gravity engineering to relieve soreness, pain and fatigue caused by earth's constant gravitational pull on the body. Inspired by the zero-gravity chaise position developed by NASA to support astronauts during their ascent into orbit, the Perfect Chair elevates the legs above the heart, relieving weight from the spine.
Components of the Human Touch Wellness Studio program include the complete collection of Human Touch Perfect Chairs and accessories, point of sale materials; and comprehensive marketing, training, and sales support for participating retailers provided by Human Touch's dedicated sales team.
"We understand the competitive landscape that todays furniture retailers face and are excited to be able to respond to their needs by offering them a fully integrated and ROI-driven program that will allow them to maximize their sales performance." said Director of Sales Billy Curtright.
July 20,
2010 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on July 21, 2010
Farmers Home Furniture recently named Twin-Star International the recipient of the furniture retailer's 2010 Award for Innovative Products.
The awards ceremony took place during the Vendor Appreciation Night at Farmers' annual meeting in Hilton Head S.C. Craig Lasing, Farmers' merchandise manager and Scott Sanders, buyer, presented the award to Doug Gold and Jack Shelburne, Twin-Star's sales rep and sales manager, respectively.
Twin-Star's products include ClassicFlame media mantels, Tresanti media cabinets and Tresanti wine coolers.
Twin-Star's other awards include a Platinum ADEX award for design excellence in 2007-2010.