Daily News Archive
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April 14,
2010 by in UnCategorized 
By Home Furnishings Business in Legal on April 15, 2010
Customers of Beck's Furniture have sued the retailer in Sacramento Superior Court over a free grocery promotion at Beck's stores in California.
The suit, filed Tuesday, alleges unfair competition, false advertising, negligent misrepresentation and fraud in the marketing and advertizing the promotion.
Last summer, Beck's had turned management of the promotion over to Chicago-based My Free Travel after the original marketing company BBZ Resource Management of Mesa, Ariz., filed Chapter 11 bankruptcy. According to a CBS-13 story, My Free Travel stopped honoring the vouchers in December.
According to a press release from the plaintiffs, the Beck's advertised that customers purchasing $497 in furniture would receive $500 in free groceries. The complaint alleges that the advertisements did not disclose the fact that there was an initial fee of $9.95 to enroll in the program. Further, only $25 worth of groceries could be redeemed per month; in order to receive the $25 rebate one had to purchase $100 in groceries.
"Our complaint alleges that the advertisement program that the company put on TV and in the newspapers was not the program customers received," said Eric Kingsley, attorney for plaintiffs.
April 14,
2010 by in UnCategorized
By Home Furnishings Business in Financial Reports on April 15, 2010
Woodbury, N.Y.-based Jennifer Convertibles (OTCBB: JENN) reported a net loss of $6.4 million during the second quarter ended Feb. 27, compared to a loss of $2.3 million for the same period last year.
Net sales for the quarter were about $23.9 million, compared to $21.4 million during the same quarter last year.
For the six-month period, the retailer posted a net loss of $13.3 million, compared to a loss of $4.2 million during the same period last year. Net sales for the first half of the year were $45.8 million, compared to $46.3 million in the first half of last year.
During the second quarter, Jennifer Convertibles closed four storestwo in New York, one in California and one in Arizona. Last year in the second quarter, the company closed two stores.
"During the quarter, we completed the operational takeover of the 20 Jennifer stores owned or affiliated and operated by the former Related Company," said Harley J. Greenfield, CEO. "Five of these stores were adjacent to our existing stores and are now operating as combined stores, which will create operational efficiencies. The results for the quarter were significantly impacted by the $3.5 million charge associated with the Related Company plus expenses associated with taking over the operation of the 20 stores."
Greenfield said despite the challenging time the retailer has had, he sees the company as being much stronger.
"The majority of the issues with the Related Company are now behind us," he said. "We should begin to see the operational efficiencies take hold late next quarter and would expect to see the positive results of these efforts in our fourth fiscal quarter. Our Ashley Furniture HomeStores division is growing rapidly both in revenue and profitability. The combination of these two factors make me optimistic about the future of Jennifer."
Click here to read the entire release.
April 14,
2010 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on April 15, 2010
Bograd's Fine Furniture in Riverdale, N.J., will host the American retail debut of high-end Japanese manufacturer Matsuoka during an invitation only event April 27 at the retailer's Hamburg Pike location that will feature an evening of sake and sushi tasting.
"For more than 80 years, Bograd's has been offering its customers the very best furniture from around the world," said Mark Bograd, president of Bograd's Fine Furniture. "We are honored that Matsuoka chose Bograd's as its first retail destination in the United States."
Matsuoka is the 140-year-old company known in Japan for its beautiful customized furnishings that are crafted of exotic materials and rare woods. Australian designer Christian Lyon has designed two new collections exclusively for Matsuoka International. The Moderne Collection is a celebration of Deco inspirations, while the "Metropole Collection" explores a softer, feminine, sensitivity accentuated with rounded edges and curves.
The Bograd's store in Riverdale will display several Matsuoka International signature pieces designed by Lyon including: the Moderne Tortoise Commode featuring Zebrano veneers skillfully applied in an intricate hexagon pattern to cleverly conceal storage doors and drawers, topped with rich Emperador marble; the Metropole Opera Dining Table crafted of Silver Sycamore veneers in a meticulously radiating swirl pattern; the Empire Sideboard done in exquisite Celebes Ebony; the Torii Console in sumptuous Red Sandalwood; the Arc Cocktail Table crafted in Pearl Japonica and expressive smoked Birds Eye Maple veneers; a Silver Sycamore Peg Side Table and Drum Table in scorched Paulownia.
Matsuoka International President Kevin Reilly and Matsuoka Chairman Taku Moritsugu will be on hand along with Christian Lyon to speak about the significant heritage behind the Matsuoka brand, and the simplicity and detail of its designs. For more information about Bograd's Fine Furniture and Matsuoka International, click here and follow the link to Matsuoka International.
April 14,
2010 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on April 15, 2010
Vermont Furniture Galleries in Williston, Vt., will switch to an Ashley Furniture HomeStore format by June, the Burlington Free Press reported Wednesday.
"When we analyzed the data, we determined that our location and business philosophy was perfectly suited to operating an Ashley Furniture HomeStore in Williston," Store Manager Laurie LaDuke said. "When all of the factors were taken into account, it gives us the opportunity to offer customers a high value, one-stop solution to their home furnishing needs.
LaDuke added that all existing staff will be retained and a number of new jobs will result from the change.
April 14,
2010 by in UnCategorized
By Home Furnishings Business in Green on April 15, 2010
NCFI Polyurethanes and Lee Industries, Newton, N.C. announced today they will team to introduce NCFI's line of Bio-LuxTMMAX, high-renewable-content cushioning into furniture.
This project is the latest in both companies long history of environmentally friendly initiatives.
"We have been working on this introduction for some time," said Chris Bradley, NCFI's director of sales for consumer products. "Our customers have been asking us for product that contained significantly higher amounts of renewable content than current products in the market. With the Bio-LuxTMMAX product, we have crossed a major barrier by replacing 50 percent of the petroleum-based polyol with materials made with renewable resources."
"Lee Industries is taking yet another step in becoming the leader in sustainable home furnishings," said Norman Coley, president of Lee Industries. "We always embrace new ideas and products. With the introduction of NCFI's new Bio-LuxTMMax, Lee will be increasing the overall amount of soy polyol in its foam by 60 percent. Being good stewards of the environment, we are compelled to constantly evolve our product with advancements like these."
Pieces containing Bio-LuxTMwill be shown at the upcoming High Point market in Lee's showroom located at 100 South Lindsay St.
NCFI's source for its soy-based polyol continues to be Cargill's BiOH product line.
"Cargill has been a key partner in the evolution of our Bio-Lux line of products," Bradley said. "The quality and consistency of the BioH material has been a vital part of this groundbreaking project."
"We are excited to partner with NCFI on this industry breakthrough in replacing 50 percent of the petroleum-based polyol with BiOH materials," said Yusuf Wazirzada, business unit leader of Cargill Biobased Polyurethanes. "This is a major milestone in our journey of creating ingredients for foam products with increasingly higher levels of renewable content."