Daily News Archive
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April 27,
2010 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on April 28, 2010
An arrest has been made in a series of Fall River, Mass., fires that included a former Cardi's Furniture mill location, the Boston Herald reported Tuesday.
Four fires were reported within an hour of each other on Saturday night, the first of which was for a fire at the former Cardi's Furniture mill.
The fire was contained by the building's sprinkler system, and no injuries were reported.
April 27,
2010 by in UnCategorized
By Home Furnishings Business in economic news on April 28, 2010
More than 200 workers in Virginia have lost their jobs following the closing of two
furniture factories in Henry County, according to a report in
The Roanoke Times.According to the article, American of Martinsville and Barcalounger have both closed putting 228 employees out of work.
Both companies, owned by private investment company Hancock Park Associates, closed earlier this month. Barcalounger had moved its operations into the American factory from Rocky Mount, N.C., last year.
April 27,
2010 by in UnCategorized
By Home Furnishings Business in Casual Furniture on April 28, 2010
New casual furniture vendors have added showrooms at Chicago Merchandise Mart, and several existing tenants have expanded their spaces at the home of the casual furniture industry's major trade show.
"The Chicago Merchandise Mart is continually working to expand the industry to offer consumers and trade professionals the most complete collection of casual and outdoor living resources," said Whitney Gillespie, vice president of Casual Sales and Leasing, MMPI. "We are very excited about the recent leasing activity and it is a great sign when businesses are investing in their businesses, even in tough economic times."
New showrooms include:
* Actiwin, Suite 17-105. Actiwin is a premier outdoor furnishings manufacturer located in Mississauga, Ontario, offering products ranging from firepits, umbrellas, bars, cushions and seating.
* Homecrest, Suite 1744. Homecrest offers a comprehensive line of affordable luxury outdoor furniture in 30 collections. Pieces include tables, chairs, chaises, loveseats, sofas, ottomans, bar and balcony stools/chairs stools featuring durable aluminum, steel, and cast frame construction.
* Leisure Design, Suite 1755. Over the last 10 years, the company has become a leader in the outdoor furniture category and offers a wide-range of products and designs.
* NorthCape International, Suite 16-112. NorthCape International has been providing customers with high-quality, high-value furniture and accessories for over 10 years. The company offers a wide range of indoor/outdoor products including round and flat resin, extruded and cast aluminum, sling, upholstered and resin loom furniture and accessories.
Newly expanded showrooms include:
* Patio Renaissance by Sunlord Leisure Products, Suite 16-108. Patio Renaissance product offerings include weather wicker furniture, cast aluminum furniture, tubular aluminum furniture and stainless steel furniture for both residential and commercial applications.
* Suncoast Aluminum Furniture, Suite 1752. Suncoast Furniture is a leader in quality, affordable outdoor furniture known for manufacturing, distributing and marketing excellence by maintaining a vital commitment to customer satisfaction.
* Treasure Garden, Suite 1655. Since 1984, Treasure Garden has manufactured a wide selection of shade products, including more than 25,000 variations of shade solutions and accessories.
April 27,
2010 by in UnCategorized
By Home Furnishings Business in Green on April 28, 2010
Kimball Hospitality, a furniture unit of Kimball International Inc. (KBAL), Jasper, Ind., has been recertified to the requirements of chain-of-custody by the independent Forest Stewardship Council (FSC).
The COC certification provides a guarantee about the acquisition and use of raw wood materials in the production of FSC-certified products. Kimball Hospitality is a global contract manufacturer that specializes in proprietary and custom designed furnishings for the hotel, casino, and resort industries.
FSC Chain-of-Custody certification is an assurance that wood-based materials used in Kimball Hospitality products come from forests that meet stringent environmental, social and economic standards. It is the path taken by raw materials from the forest to the consumer, including all successive stages of processing, transformation, manufacturing and distribution.
Kimball Hospitality first achieved FSC Chain-of-Custody certification in 2007, allowing the Company to sell furniture made to FSC-compliant standards by its registered subcontractors. The new and updated scope of Kimball's FSC certification further enables the Company to purchase and store FSC materials, such as lumber, veneer, and panels, and to manufacture and store FSC furniture at the Kimball Hospitality production facility in the United States. By this recertification, Kimball Hospitality has achieved FSC's COC certification for its Jasper, Ind., operation, and has also achieved certification for off-shore factory and logistics partners, providing a guarantee to global customers who prefer FSC-certified products.
April 26,
2010 by in UnCategorized
By Home Furnishings Business in Financial Reports on April 27, 2010
DuPont (NYSE:DD) posted net sales of $8.5 billion for the first quarter ended March 31, a 23 percent increase compared to $6.9 billion posted in the same quarter last year.
First quarter net income for the company, which is a supplier of Teflon for the furniture industry, was $1.1 billion, compared to $489 million posted in the first quarter of last year. The company attributed the increase to higher sales volume, increased manufacturing capacity utilization, higher selling prices, currency benefit and lower raw material csts.
"Our intense focus on customers, sustained R&D investments and productivity improvements are delivering growth," said Ellen Kullman, chairman and chief executive officer. "Macro trends drove first-quarter demand for our science-based innovations, and DuPont was ready. The actions taken last year are benefiting the company as we emerge stronger in 2010."
Looking toward the future, DuPont increased its full-year earnings guidance to a range of $2.50 to $2.70 per share from its previous range of $2.15 to $2.45 per share. The new outlook reflects the company's expected stronger sales growth and improved pre-tax operating margins, supported by continuing global economic expansion with particularly strong demand in Asia Pacific. The company expects free cash flow to be about $200 million higher than originally anticipated, and has increased its outlook from greater than $1.5 billion to more than $1.7 billion.
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