Daily News Archive
Brought to you by Home Furnishings Business
March 4,
2013 by in UnCategorized 
By Aggregated Content in Furniture Retailing on March 5, 2013
from http://www.wxii12.com/news/local-news/piedmont/Furniture-warehouse-to-open-in-old-Hanesbrands-plant-employ-158/-/10703612/19191406/-/s8qwo4/-/index.html
A North Carolina furniture company plans to convert a former Hanesbrands plant in Winston-Salem, N.C., into a massive warehouse store and hire nearly 160 people.
Merinos Home Furnishings completed the purchase of the 850,000 square-foot building on Hanes Mill Road that Hanesbrands closed in 2010. Renovations are expected to start in May, and the first part of the store should be open within 60 days of renovations, said Michael Bay, CEO of Merinos.
This will be the second location for the retailer.
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March 4,
2013 by in UnCategorized
By Home Furnishings Business in economic news on March 5, 2013
The Furniture Buying Index remained flat again for March at a reading of 72, according to America's Research Group.
"Consumers are getting income tax refund checks, but are debating whether to spend the money now or save the money this year," said Britt Beemer, chairman of America's Research Group. "Parents are saving for college funds for their children's education and must decide whether new furniture or a college education for their children is a bigger priority. Other consumers are worried about the future and 'saving for a rainy day' thus putting off major purchases until they are more comfortable about their financial situation."
America's Research Group compiles the Furniture Buying Index each month from interviews with between 5,000 and 8,000 consumers across the country. In a typical month, 80 percent of the consumers interviewed can name a specific furniture item they intend to buy. The Index's mark signifies what percent of the benchmark 80 percent actually have a particular item in mind.
March 4,
2013 by in UnCategorized
By Home Furnishings Business in Executive Changes on March 5, 2013
Closeout retailer Tuesday Morning Corp. (NASDAQ: TUES) has appointed an interim chief executive officer, effective immediately.
Michael Rouleau will manage the retailer's day-to-day operations through the retention of a new CEO. He will continue to serve on the board of directors, which he joined in November.
Rouleau succeeds Bradley Churches, who has resigned his position but remains with the company in a consulting role. Tuesday Morning has hired Spencer Stuart, an executive search company, to assist in identifying a permanent CEO.
Rouleau most recently was president and CEO of Michael's Stores.
"The board recognizes Brady's merchandising expertise and the company's recent top line momentum, and is pleased he will serve as a consultant," said Steven Becker, chairman of the board. "We move forward with the search for new leadership to drive operational improvement at every level of the company, truly transform the brand and capture market opportunities with focus and determination. Michael Rouleau brings a strong track record of retail operational excellence in this regard, and the board is confident that Tuesday Morning will benefit from his service as interim CEO."
March 4,
2013 by in UnCategorized
By Home Furnishings Business in licensing on March 5, 2013
Stork Craft Mfg. has entered into a licensing agreement with Furniture Brands International to develop and market juvenile and kids furnishings.
Stork Craft, Richmond, British Columbia, will work on product for FBI's Broyhill Furniture, Lane Furniture, Thomasville Furniture and Drexel Heritage Furniture brands.
As a leading baby and childrens furniture manufacturer with a strong reputation across multiple distribution channels, Stork Craft is well-positioned to build long-term successful product lines for each brand. The collections will include high quality and on-trend designs of cribs, changing tables, dressers, toddler and youth bunk beds, gliders and related accessories. The products will be marketed across multiple product categories, price points and distribution channels.
Stork Craft is a recognized leader in the kids furnishings industry and we are excited to have them as a new licensing partner, said Mark Wiltshire, president--special markets, Furniture Brands International. "They have a proven track record of high quality products, strong customer service and a commitment to successfully develop each kids furnishings collection to reflect the positioning and heritage of each of our brands."
Stork Craft prides itself on meeting the needs of parents who are looking for high quality, safe and durable kids' furnishings that can adapt and grow with their children. This includes stylish and safe cribs that can be converted into toddler or teen and changing tables that can be adapted into dressers. The opportunity is to provide parents a great value for their money while providing choices that will appeal to kids and allow them to express their individual taste and style as they grow up. The collections under Broyhill, Lane, Thomasville, and Drexel Heritage will cover boys and girls, with contemporary to traditional styles.
We are extremely excited about this strategic licensing partnership as it allows us to bring universally recognized and trusted brand names to todays consumers as well as both new and existing retail customers in the juvenile and kids furniture industry, said Dwight Ifland, Stork Craft's vice president of sales & marketing. The collaborative efforts between Furniture Brands International and Stork Craft will bring to the market high quality, on-trend, safe and durable kids furnishings under the umbrella of world class brands and be made available to new and growing families through retailers nationwide.
The licensed juvenile/kids furnishings collections and designs are expected to be available at retail channels and online by this year's third quarter.
March 4,
2013 by in UnCategorized
By Home Furnishings Business in economic news on March 5, 2013
The Greater Metropolitan Furnishings Association recently held a breakfast seminar on the Affordable Care Act's implications for retailers, wholesalers, manufacturers, industry suppliers and reps.
The seminar, held in Woodbridge, N.J., at the Fiesta restaurant, was the second in a series of free seminars produced by the association, which has furniture industry members in the New York, New Jersey and Connecticut.
The featured speaker was Harvey Mishkin of Association Master Trust, the company that administers GMFAs health program. During his two-hour talk, Mishkin presented numerous graphs and charts explaining the how the law, also known as Obamacare, that impacts large businesses, small businesses and individuals in different ways.
Addressing why the Affordable Care Act might not seem so affordable to his audience, Mishkin noted that, You may wonder why this legislation is called the 'Affordable Care Act.' Thats because its designed to be affordable for lower income people to allow them to get health insurance coverage.
The seminar included ample time for questions and answers that evidenced a keen interest in the subject matter.
We were all blown away by Harveys talk," said Patrick Cory, GMFAs current president and the CEO of Cory 1st Choice Home Delivery. The changes to our health care laws will affect everyone in the furniture industry, from the largest retailers to part-time employees. The seminar attracted retailers and reps who learned about the individual mandate; how larger companies with 50 plus equivalent employees will need to provide certain levels of affordable coverage or pay penalties; subsidies for earners making less than about $99,000; and some possible unintended consequences of the legislation.
Since the merger of the GNYHFA and MFA in 2011, we have strengthened our social and networking events and have created a robust list of our own member discounts to supplement the ones we offer through IHFRA, said Mike Fischer, president of New Jersey retailer Sofas Plus Inc., who chairs the Seminar Event committee for GMFA. "These educational seminars are have turned into one of our most popular events and a significant service we can provide to help our local home furnishings community do a better job of staying profitable while selling home furnishings.
Directly following the presentation, a big-screen television set donated by Cory 1st Choice Home Delivery was raffled off.
Sponsors of the event included Association Master Trust, Profit Management Promotions, Assuranty, North East Home Delivery Service and David Lerner & Associates.