Daily News Archive
Brought to you by Home Furnishings Business
May 6,
2010 by in UnCategorized 
By Home Furnishings Business in Case Goods on May 7, 2010
Edward Andrew has joined Martin Home Furnishings as president.
Andrew has more than 20 years experience managing consumer product manufacturing companies. In his new position, Andrew is responsible for managing Martin's brands and categories, expanding its North American manufacturing facility and broadening its network of Asian partners.
Bringing Ed on board is the most recent step in our growth plan," said Gil Martin, company founder. "Solving all the challenges growth brings is a full-time job for which he is certainly qualified. I will continue to be involved with product development, assisting with key accounts and strategic planning. I love this industry and the people in it. I feel fortunate to have found my way into it and plan on staying in it for a very long time.
Martin assumes the title of chief executive officer.
Andrew has worked in a number of industries including residential lighting, sporting goods and electronics. Throughout his career, he has managed high-tech startups, as well as labor intensive, low-tech businesses.
Andrew began his professional career working his way into management positions in Fortune 500 companies, followed by seven years as director of management consulting for Ernst & Young.
"I was an outside member of Martins executive committee for most of 2009 and the first part of 2010. This helped me learn so much about the industry," Andrew said. "I felt comfortable with the companys business philosophy and them with mine. Productive efforts began almost immediately the day I joined the company. Impressed with their aggressive growth plans, especially during a recession, I seized the opportunity to make a contribution to the companys future success. I feel at home and I am excited to be here.
Martin was founded in 1981 as a home office and home entertainment supplier by Gil Martin. In April 2003
, Martin Furniture partnered with
Kathy Ireland Worldwide and become Kathy Ireland Home by Martin, the home office and entertainment licensee for that brand. In 2008, Martin acquired Highland Design to create the Curt Christian Design by Martin brand, which produces bedroom and dining room as Martin Home Furnishings.
May 6,
2010 by in UnCategorized
By Home Furnishings Business in Community/Charitable Support on May 7, 2010
Fine Furniture Design & Marketing has announced that seven new students have been selected to receive the prestigious Celia Moh Scholarship for furniture studies for the 2010-2011 academic year. Students from top universities around the country with home furnishings programs were eligible to apply.
This year's recipients are: William Eatmon, North Carolina State University; Rebecca Gibson, Mississippi State University; Meaghan Leonard, High Point University; Joseph Sadony, IV, Kendall College of Art and Design; Shannon Taylor, High Point University; Brian Harris, Appalachian State University; and Martha G. Deans Wharton, East Carolina University.
The Celia Moh Scholarship is an academic scholarship program for students bound for the home furnishings industry, paying full-time tuition and fees, room, board and books for its recipients. In addition, the scholarship hosts an annual networking and resource-building trip to the High Point Market, and provides informal internship and career guidance for its scholars, as well as offering an active alumni network for former scholars who are now in the home furnishings industry.
Established in 2001 by furniture industry entrepreneur, Laurence Moh, best known as the founder of Universal Furniture and later, Fine Furniture Design & Marketing, to honor his wife, Celia, the program's managed $3 million endowment investment has provided nearly 60 full scholarships in nine years.
Candidates are selected by their universities and undergo a rigorous application process. A scholarship committee comprised of home furnishings executives selected the students from a pool of candidates from eight universities across the country.
Get more information about the Celia Moh Scholarship program.
May 6,
2010 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on May 7, 2010
More and more
furniture retailers have started to explore the cross merchandising of home electronics with furniture.
While it sounds quick and easy, pitfalls abound. We've got help.
Home Furnishings Business is hosting a Webinar next week that will provide key information retailers need to consider prior to wading into the electronics pool.
Eric Foucrier, president of
Linder's Furniture, and Jack Halperin, vice president of dealer sales for electronics distributor Almo, will be our speakers.
Foucrier will share the ins and outs, the pros and cons of marrying electronics and furniture. Halperin will provide tips for retailers looking to get into the business.
Join us for our hour-long discussion Wednesday, May 12 at 2 p.m. Eastern time. To join in,
visit our online registration and sign up.
Martin Home Furnishings and
Almo Distributing are sponsoring the event.
May 6,
2010 by in UnCategorized
By Home Furnishings Business in Business Strategy on May 7, 2010
The American Home Furnishings Alliance will hold a half-day Product Development Workshop, 1-5 p.m. on Wednesday, June 16, at the Marriott Resort at Grande Dunes in Myrtle Beach, S.C. The workshop precedes the Annual Marketing Meeting June 17-18 at the same location.
Rick Babick, founder of Design Research, a firm that specializes in research related to product design and brand development, will describe current product trends through the filters of style, design, color, materials, price, brand and more. Babick is the developer of a web-based research and analysis tool that catalogs products currently in the marketplace.
For example, in the first quarter of 2009, Design Research cataloged nearly 40,000 home goods offerings from Wal-Mart, Sears, Kmart, Target, JCPenney, Kohl's and Bed Bath & Beyond. By reviewing the strategic summary reports, retailers are able to see how they can differentiate themselves from their competitors. This highly detailed product information can also provide manufacturers with a valuable tool for sharpening their product development focus.
Prior to founding Design Research, Babick spent 16 years as head of market research for Lenox Inc., where he led a staff of 10 that conducted more than 75 studies per year, half of which were design tests. Babick's associate, Janine Finkle, vice president of market intelligence at Design Research, will join him at the AHFA Product Development Workshop to help lead participants through a hands-on product development exercise.
Also on the June 16 program is Michelle Lamb, co-founder and chairman of Minneapolis-based Marketing Directions Inc., a home furnishings color and trend forecaster. Lamb also publishes The Trend Curve, a newsletter offering insights to color, pattern and design trends in home furnishing products. Lamb gathers these insights traveling the globe to furniture, textile, housewares, tabletop and gift shows. She will share her 2010 forecast based on directions seen at 2009 and 2010 trade events.
Registration for the June 16 Product Development Workshop is $100. However, there is no cost for attending the Workshop for those who are registered for the June 17-18 Marketing Meeting, titled "Accelerate the Recovery: Tools and Tactics to Empower Marketing Executives."
Highlights of the marketing meeting agenda include:
* "Elm Street Economics," presented by Mike Anderson of the Center for Sales Strategy. Anderson will help marketing executives make the transition from "recession-minded marketing," which tends to be focused on Wall Street news and events, to "recovery marketing" that is focused on what's happening to "your customers who live down on Elm Street."
* "The Way to a Gen Yer's Heart ... and Wallet," presented by Jayne O'Donnell, "Money" Reporter for USA Today. O'Donnell will interview a panel of Gen Y consumers using insights from her recently published book, "Gen BuY."
* "Descriptive or Deceptive? How to Avoid the Risks in Green Marketing," presented by Christie Grimes, partner with Kelley Drye & Warren LLP. Last month The Wall Street Journal reported that a rash of earth-friendly claims by manufacturers and retailers has spurred a "rising tide of legal and regulatory actions." Grimes will help marketers understand current guidelines and how they are being enforced.
* "Moving Mainstream Furniture Shoppers Toward Sustainable Choices," presented by Suzanne Shelton, president of Shelton Group. Shelton will share results of recent research investigating how furniture shoppers perceive "eco-friendly" furnishings.
* "Channeling the Power of Social Media," presented by Rohit Bhargava, senior vice president of digital strategy and marketing, Ogilvy Public Relations Worldwide. Bhargava is an award-winning blogger and nationally recognized expert on the topic of social media. He'll provide practical strategies for executives who are trying to launch and maintain social media strategies.
All registration information for both the furniture Product Development Workshop and the full Marketing Meeting is here. For hotel accommodations, contact the Marriott at 800.228.9290. A discounted group rate is available through May 16.
May 5,
2010 by in UnCategorized
By Home Furnishings Business in Financial Reports on May 6, 2010
First-quarter 2010 sales at Furniture Brands International (FBN), St. Louis, fell 9.7 percent compared with the same period last year to $322 million, the company reported Wednesday.
Sales rose 12.9 percent from Furniture Brands International's 2009 fourth quarter, though, and FBI netted $3.5 million during the period ended March 31, compared with a first-quarter 2009 loss of $4.2 million.
"Furniture Brands' improved financial performance reflects the strategic actions taken to strengthen the balance sheet, build our brand power, win with customers, and deliver operational excellence," said Chairman and Chief Executive Officer Ralph P. Scozzafava. "This transformation of Furniture Brands over the past two years has positioned the company to compete better in a weak retail environment, and today's financial results are clear evidence that our hard work is gaining traction. The sequential increase in top-line sales reflects the momentum that our new product offerings are creating in the marketplace. We are consistently gaining floor placements with our retail partners, and consumers are responding favorably to our tested products."
First-quarter 2010 retail sales at the 65 company-owned stores totaled $35.6 million with a gross margin of 42.3 percent, compared with sales of $29.8 million and gross margin of 39.9 percent at the 62 stores the company owned during the first quarter of 2009. First-quarter 2010 same-store sales at the 40 Thomasville Home Furnishings stores that the company has owned for more than 15 months showed an increase of 16 percent from the first quarter of 2009.
At March 31, Furniture Brand's net debt was $17 million compared with net debt of $97 million at the end of 2009's first quarter. On April 12, the company received $57 million of an anticipated federal tax refund, resulting in a net cash position of $37 million.