Daily News Archive
Brought to you by Home Furnishings Business
June 8,
2010 by in UnCategorized 
By Home Furnishings Business in Internet on June 9, 2010
Uttermost is jumping on the social media bandwagon, and to get the campaign started, the company is asking retailers and designers to take part in its new product ideas contest for a chance to win
one of three iPads.
Retailers and designers are encouraged to offer suggestions for the Uttermost product line by
clicking the Enter to Win tab. Suggestions can include sketches and illustrations, and there is no limit to the number of entries per person.
"Our goal with social media is to develop a forum for sharing ideas between customers, receiving feedback from customers and simply knowing our customers better," said Mac Cooper, chief executive officer. "Social media, especially
Facebook is a great way to expand our communications with customers and industry friends. It's critical that we continue to listen to our customers in every way possible."
In addition to its presence on Facebook, Uttermost can also be followed on
Twitter.
June 8,
2010 by in UnCategorized
By Home Furnishings Business in Financial Reports on June 9, 2010
The board of directors of
Flexsteel Inds. (NASDAQ: FLXS) declared a third quarter dividend of $0.05 per share payable July 1 to shareholders on record as of June 18.
In a release, the company said it believes that its cash flow and operating income levels are supportive of the current dividend.
Located in Dubuque, Iowa, the company supplies case goods and upholstery for the furniture industry, as well as for recreational vehicles, office, hospitality and healthcare markets.
June 7,
2010 by in UnCategorized
By Home Furnishings Business in Bedding on June 8, 2010
The Consumer Products Safety Commission has issued a recall of mattresses from home furnishings retailer Ikea due to violation of federal mattress flammability standards.
The recall involves around 1,900 Ikea Sultan Heidal spring mattresses.
While no injuries have been reported related to the product, CPSC says the mattresses fail to meet the federal mandatory open flame standard for mattresses, posing a fire hazard to consumers.
Incidents/Injuries: None reported.
The recall includes IKEA Sultan Heidal spring mattresses sold in sizes twin, full, queen and king. Mattresses included in this recall are date stamped 0725 through 1014 (YYWW). Sultan Heidal, supplier number and date stamp are located on a label attached to the mattress. Article and supplier numbers included in the recall are: twin, 701-095-77 20520; full, 301-109-69; queen, 501-109-73; and king, 901-109-71.
The Mexico-made mattress were sold exclusively in Ikea U.S. furniture stores from June 2007 through April 2010 for between $500 and $1,000.
Consumers should immediately stop using the mattresses and contact their local Ikea store for instructions on returning the mattress for a replacement of full refund. For additional information, contact Ikea toll-free at 888.966.4532; or visit Ikea's U.S. Web site.
June 7,
2010 by in UnCategorized
By Home Furnishings Business in Case Goods on June 8, 2010
Hooker Furniture Corp., Martinsville, Va., (NASDAQ: HOFT) on Monday reported net sales of $51.4 million and a net income of $1.1 million, for its fiscal 2011 first quarter ended May 2.
Results included a $500,000 charge, representing the Company's insurance deductible for a fire at one of its distribution facilities during the fiscal 2011 first quarter.
Net sales for the period were off 1.4 percent compared with the same period a year ago. Net income for the quarter increased $1.5 million from a net loss of $456,000 for the comparable period last year. Last year's first quarter included an intangible asset impairment charge on the company's Bradington-Young trade name of $673,000.
Lower sales were driven primarily by sourcing delays, along with continued sluggish business conditions. The industry-wide slow down which began in the fall of 2008 prompted the company's Asian sourcing partners to reduce manufacturing capacity. While longer production and shipping lead times are believed to be temporary, the company expects some short-term delays as additional capacity is added in Asia in both manufacturing and shipping. The Company had approximately 8.2 weeks of order backlog at quarter-end as compared to 4.6 weeks at the prior-year quarter end.
"We're gratified to report another profitable quarter, as we improved profit margins despite a slight sales decline and a still struggling economy," said Paul B. Toms Jr., chairman, chief executive and president. "Our sales performance was a mixed bag. Upholstery sales continued to rebound with double digit increases in orders and shipments at both upholstery companies. Our wood furniture division has not yet rebounded as strongly, partially due to lower demand, but also because of lengthened lead times out of Asia."
Toms noted that both production levels and shipping capacity have improved in recent weeks.
"By late July or August, we expect to be in a better inventory position, which will allow us to reduce our backlog and increase volume as shipments begin to exceed orders," he said.
While Hooker is entering its traditionally weakest sales quarter, Toms noted that the company is growing market share in upholstery and demand for wood furniture has stabilized.
"We had a very strong April High Point Market at all three companies, and pre-ordered our market introductions to put us in the position to ship many of them this summer," Toms said. "We expect that deliveries from our vendors will continue to improve. While we don't anticipate a significant increase in demand at retail, we do expect to improve our volume by shipping down our backlog and getting fresh new products out on retail floors more quickly than is typical. We're seeing some positive signs in the economy including stability in the housing market, increased demand for luxury goods and recovery in some retail sectors. Barring unforeseen circumstances, we expect overall demand, including demand for wood furniture in the upper-medium price points, to gradually improve as we move through the year."
June 7,
2010 by in UnCategorized
By Home Furnishings Business in Case Goods on June 8, 2010
In an ongoing effort to strengthen key retailer partnerships, high-end furniture manufacturer Theodore Alexander recently hosted executives from upscale Texas furniture retail chain Louis Shanks at its plant in Vietnam.
The retail team took part in discussions that focused on how the companies could better work together to reach consumers, and then were treated to an extensive tour of the premium furniture makers corporate headquarters, manufacturing facility, and foundry, and also given an opportunity to view the companys newest product designs in process.
According to Russell Towner, USA president of the high-end manufacturer renowned for its quality craftsmanship and exquisite design sense, coordinating a trip for key customers such as Louis Shanks demonstrates the Theodore Alexanders commitment to retailers success.
"Partnership events such as this are valuable on a number of fronts," said Russell Towner, president of Theodore Alexander USA. "First, our employees are proud to demonstrate their craft for our customers, and we've found that the compelling, face-to-face interaction strengthens relationships at all levels, from the executive teams to the craftspeople. Beyond the networking and communication, we have an opportunity to spend time reviewing new projects in a relaxed setting, and to significantly increase our guests' knowledge of how our products are made, as well as the extraordinary level of detail and artistry involved in producing each of our pieces. This, in turn, increases the retailers level of enthusiasm for our products, which will be passed on to their sales personnel and designers on the store floors, and eventually the end-consumer."
The trip to Vietnam was a first for some of the Louis Shanks executives, which included Forwood family members Amor, Mike, Marissa, and Michael Jr. The group toured Theodore Alexander's main factory where they were able to view master carvers sculpting furniture by hand, using traditional tools, as well as the detailed processes involved in exquisite, rare wood veneers, marquetry, eglomise, the inlay of brass and stainless steel, hand-painting, and the use of other fine materials.
The following day, the Shanks team headed to the Theodore Alexander foundry for a full tour of the company's metalworking capabilities and a demonstration of the age-old techniques employed there. In the foundry, they observed rubber mould/pattern making and witnessed the various stages of the finishing process, brass casting, etching and more.
"The tour was an extraordinary experience that afforded great insight into the bench-made techniques used to produce furniture in the 18th century that are fast becoming a lost art in furniture making, yet impart tremendous value in the 21st century," said Louis Shanks CEO Amor Forwood.
Mike Forwood, company president, noted: "As the economy steadily improves, we are noting increased interest among our customers in heirloom-quality furnishings, as well as in understanding 'the story' behind each piece of furniture that they purchase. Customers now want to know where each piece comes from, how it was made, and that it will be an investment that will pay dividends for the next generation."
He added that the experience of the trip should help "exponentially increase our sales of Theodore Alexander products on our floors when we return to Texas."