Daily News Archive
Brought to you by Home Furnishings Business
June 20,
2010 by in UnCategorized 
By Home Furnishings Business in Advertising on June 21, 2010
Another furniture retailer is getting into the swing of sports-related promotions, this time Rayley's Home Furnishings, which has stores in Waldorf and Lexington Park, Md.
The Rayley's version offers free furniture for purchases made through the end of June should either the Oakland Athletics or Baltimore Orioles pitch a no-hitter in their game on July 1.
"This is extremely exciting considering there have already been two no-hitters this year and one of them was the Athletics," said Terry Raley in a local news report.
June 17,
2010 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on June 18, 2010
San Diego-based Jerome's Furniture is once again expanding into a new market with its newest store set to open in Corona, Calif., in time for the Fourth of July weekend.
The new locationthe retailer's seventh locationfeatures a 42,500-square-foot space, and follows on the heels of the February opening of a store in Murrieta, Calif.it's first move outside of the San Diego market.
"It's exciting to open our doors in Corona," said Lee Goodman, president and CEO. "Many members of the community have been shopping at our Murrieta showroom and now we'll be even closer neighbors. I think locals appreciate the exceptional value that Jerome's brings with selection, service and ease of same-day delivery."
The Corona showroom will feature departments like Kidz to Teens, Leather, Dining, Jerome's Dream Shop, living room, entertainment, home office and a clearance center. The retailer will also continue to offer its Room Packages making it easier for shoppers to choose coordinated furnishings at a discounted price.
The retailer is hosting a grand opening Saturday, July 3.
Jerome's was drawn to Corona because of the area's demographics, the awareness of Jerome's as a long-standing company in Southern California and the proximity of the retailer's distribution center.
Jerome's was founded in 1954 and remains a family-owned and operated business.
June 17,
2010 by in UnCategorized
By Home Furnishings Business in Executive Changes on June 18, 2010
Orient Express, a division of Star International Furniture, has named Michael Chua marketing manager.
Chua has 15 years marketing experience and has worked in the furniture industry for the last five years. He was the director of marketing for
Zocalo three years where he led brand building and marketing.
"We're excited to have Michael on the team," said Christian Cousins, director of sales and product development. "By strategically adding focused positions to our management team we are creating the foundation to sustain further growth in developing long-sterm relationships with industry leaders."
Chua reports to Cousins.
Orient Express was founded seven years ago by
Star International, and the company offers a range of product including rustic reclaimed imports and leather upholstery.
June 17,
2010 by in UnCategorized
By Home Furnishings Business in Financial Reports on June 18, 2010
RTA specialist Dorel Inds. (TSX: DII.A) and
(TSX: DII.B) has completed the extension of a revolving credit facility that allows the company to borrow up to $300 million and contains provisions to borrow up to an additional $200 million.
The three-year agreement, effective July 1 and expires July 1, 2013 was led by the
Royal Bank of Canada (NYSE: RY) and the
Bank of Montreal
(NYSE: BMO).
The credit agreement is in addition to a $200 million fixed-rate, long-term financing announced in April.
June 16,
2010 by in UnCategorized
By Home Furnishings Business in Financial Reports on June 17, 2010
Specialty home furnishings retailer
Pier 1 Imports (NYSE: PIR) reported net income of $7.7 million for the first quarter ended May 29, compared to net income of $29.3 million during the same quarter last year.
Last year's income included a $47.8 million gain on the repurchase of debt and a $10 million litigation recovery.
Net sales for the quarter were $306.3 million, compared to $281.1 million during the same quarter last year.
The retailer's operating income was $8.3 million, a $35 million improvement from an operating loss of $26.7 million during the first quarter of last year. Pier 1 said increases in sales and merchandise margins teamed with well-controlled expenses resulted in the company posting an operating income for the first time in six years.
"We are delighted that for the first time in six years we have achieved first quarter operating income," said Alex Smith, president and chief executive officer. "Store traffic, conversion rate and average ticket all increased during the quarterour customers are clearly enjoying our merchandise, our stores and our customer service. We experienced strong performance in all merchandise divisions and all areas of the country. Our confidence level is high and we know how to keep the momentum goingcontinuing to rebuild our profitability one SKU and one customer at a time."
Comparable store sales during the quarter increased 14.3 percent compared to a comparable store sales decline of 7.5 percent last year. The sales increase for the quarter was primarily the result of an increase in store traffic, conversion rate and average ticket.
Pier 1 has posted
the entire press release on its Web site.