Daily News Archive
Brought to you by Home Furnishings Business
April 25,
2010 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on April 26, 2010
Fire officials in Fall River, Mass., are talking with a "person of interest" regarding a series of weekend fires that included a former Cardi's Furniture location, the Boston Herald reported Monday.
The first call for four fires reported within an hour of one another on Saturday night, was at the former Cardis Furniture. The building's sprinkler system contained the blaze. The other fires were at the Tower Mill Outlet, Wampanoag Mill and Flint Mill.
Another suspicious nearby fire was reported a week ago.
April 25,
2010 by in UnCategorized
By Home Furnishings Business in Community/Charitable Support on April 26, 2010
Ashley M. Holleran, a senior majoring in home furnishings with a minor in interior design in the The Knabusch-Shoemaker International School of Home Furnishings and Design at High Point University, has received the 2010 Haverty Cup, the university announced last week.
Holleran received a $2,500 cash award and an engraved replica of the Haverty Cup. Her name has been engraved with the names of previous winners on the Haverty Cup, which is kept on permanent display at HPU. The Haverty Cup was established in 1988 by Rawson Haverty Sr. to annually honor the most outstanding home furnishings graduate of HPU. Haverty established the award to encourage students to pursue a career in the home furnishings industry.
The award was presented to Holleran in Norton Hall on April 16 by Steve Burdette, executive vice president of Haverty Furniture Company stores; and Scott Miles, vice president of stores and development at Haverty Furniture Company.
Holleran, a native of Peabody, Mass., has consistently scored high in classes throughout college--her overall GPA is 3.86. She has been an active member of HPU's women's soccer team, and was a Millis Scholar Athlete and on the Big South Presidential Honor Roll during all four years at HPU. Holleran was the recipient of the 2009 Furniture Fellowship Endowed Scholarship. She also has participated in the Big Brother Big Sister program.
Upon graduation, Holleran will work with Haverty Furniture in Pineville, .NC.
"Ashley is an outstanding student who is sincerely interested in a career in the home furnishings industry," said Dr. Richard Bennington, Paul Broyhill professor of home furnishings at HPU. "Her grades are consistently among the highest in each class, and she is serious about learning. Her work ethic and creative thinking will be an asset to her in her career. We are proud that she is our 2010 recipient of the Haverty Cup."
April 22,
2010 by in UnCategorized
By Home Furnishings Business in Financial Reports on April 23, 2010
Leggett & Platt (NYSE: LEG) reported sales from continuing operations of $816.4 million for the first quarter, a 14 percent increased compared to $718.1 million during the same quarter last year.
Net earnings for the quarter were $46.9 million, compared to $3 million during the same period last year.
"We are encouraged to see market improvement and sales growth during the first quarter," said David Haffner, president and CEO. That growth, combined with last year's significant cost reduction efforts, led to meaningful earnings improvement. Gross margin remained over 20 percent, despite a noteworthy increase in steel costs during the first quarter."
Haffner said the company was well underway with its three-part strategic plan announced in November and has divested Leggett of low-performing businesses.
"We've also made substantial progress on the second step of the planto improve margins and returns on the businesses we have kept--despite significant declines in market demand," he said. "Margins should continue to increase as the economy improves."
Haffner said the third part of the plan is to grow the company at 4 percent to 5 percent per year over the long term.
"For the next couple of years, gradual market recovery should provide ample growth, and we should benefit significantly from our advantaged competitive positions, improved cost structure, and spare production capacity," he said. "Longer term, we aim for growth to come from development and commercialization of innovative new products, and from identification of and expansion into potential new growth platforms."
Click here for the complete earnings report.
April 22,
2010 by in UnCategorized
By Home Furnishings Business in on April 23, 2010
Bassett Furniture Inds., Bassett, Va., has reopened a Bassett Furniture Direct store in Egg Harbor Township, N.J., the Press of Atlantic City reported Thursday.
The 24,000-square-foot store, formerly run by a licensee from 1999 to 2007, now is a company-owned location.
A grand opening event is scheduled for early May.
April 22,
2010 by in UnCategorized
By Home Furnishings Business in Store Openings on April 23, 2010
Bassett Furniture Inds., Bassett, Va., has reopened a Bassett Furniture Direct store in Egg Harbor Township, N.J., the Press of Atlantic City reported Thursday.
The 24,000-square-foot store, formerly run by a licensee from 1999 to 2007, now is a company-owned location.
A grand opening event is scheduled for early May.