Daily News Archive
Brought to you by Home Furnishings Business
April 4,
2010 by in UnCategorized 
By Home Furnishings Business in Bedding on April 5, 2010
Mattress manufacturer Tempur-Pedic International Inc. (NYSE: TPX), Lexington, Ky., has acquired its Canadian distributor, Tempur Canada Inc., for an undisclosed amount.
As of last Thursday, Tempur Canada became a wholly-owned subsidiary and will continue to provide the Canadian market with products from Tempur-Pedic. In 2009, Tempur-Pedic International reported net sales of approximately $9 million to Tempur Canada.
"Prior to the acquisition, Canada was the largest bedding market where we were represented by a third-party distributor," said Tempur-Pedic CEO Mark Sarvary. "The Canadian market is large and our share is relatively low. Tempur Canada has done a tremendous job of developing this market and has positioned the Tempur-Pedic brand for increased investment. We are committed to growing Canadian market share, and so we will increase our investments in advertising and sales initiatives which over time we believe will drive significant sales and earnings growth."
The acquisition follows similar transactions in Austria, Australia, China and New Zealand over the last four years.
"We are pleased with the results we have experienced in driving sales growth and improved profitability from recently acquired markets," Sarvary said. "In 2010, we expect the Canadian acquisition will be modestly accretive to earnings."
The acquisition was effected through the Company's Dan-Foam ApS subsidiary, which is the company's primary foreign subsidiary and holds the company's interests in markets outside the United States.
April 4,
2010 by in UnCategorized
By Home Furnishings Business in Executive Changes on April 5, 2010
Sandy Dant of the Home Furnishings Representatives Guild of Southern California has been elected the 72nd president of the International Home Furnishings Representatives Association.
IHFRA chose its 2010-2011 slate of officers during its annual Board of Directors meeting in High Point earlier this month.
Dant has been a member of IHFRA since 2000 and served as President of HFRG of Southern California from 2001 through 2002 and also served as liaison between HFRG of Southern California and California Furniture Manufacturing Association those same years. Dant received the Dean of IHFRA in 2001 as well as her CHR (Certified Home furnishings Representative) certification. She joined IHFRAs Executive Committee in 2007 and has gone through the chairs until accepting her current position as President of IHFRA in 2010.
Dant started her career in 1986 as a sales representative selling rattan furniture. In 1990 she started selling contemporary upholstery for Jackson of Danville. She has received numerous awards including an achievement award from JD Originals as well as salesman of the year for Carsons of High Point.
In 2005 her career diversified by adding furniture transportation services to both retailers and manufacturers. Currently Dant is a multi-line representative for Furniture Transport Group and Signature Designers Rugs.
Her involvement with City of Hope includes co-chairman of the City of Hope West Coast Committee for the Furniture Industry and member of the National Home Furnishings Board for City of Hope.
Joining Sandy Dant on the IHFRA Executive Committee are Ed Myers, Tri-State Home Furnishings Association, chairman of the board; Mark Scharff, Metropolitan Furniture Association of New Jersey, first vice-president; Mike Root, IHFRA member-at-large, second vice-president; and Christopher DeLisa, Greater New York Home Furnishings Association, secretary/treasurer.
IHFRA Executive Committee will be sworn in at the IHFRA Presidential Gala on Friday, April 16 at the IHFC Ballroom. For more information contact IHFRA at 336-889-3920 or e-mail here.
April 4,
2010 by in UnCategorized
By Home Furnishings Business in Store Openings on April 5, 2010
Mitchell Gold + Bob Williams has opened a store at South Coast Plaza Village in Santa Ana, Calif., the Orange County Register reported Friday.
The leased space was formerly occupied by Retrospect, which was owned by Room & Board.
The 12,000-square-foot store features slipcovered and upholstered furniture, armoires, beds, dining tables, chests, coffee tables, lighting, area rugs and accessories. The store, which offers treats to dogs, sells dog beds in fabrics to coordinate with sofas.
The first Orange County Mitchell Gold + Bob Williams store, which was not corporate-owned, has since closed.
April 4,
2010 by in UnCategorized
By Home Furnishings Business in High Point on April 5, 2010
The International Home Furnishings Representatives Association will honor the Ray Isser with the Rudy Steltemeir Award.
The "Rudy" award honors an IHFRA member who has demonstrated the qualities of outstanding service to fellow representatives as exemplified by the late Rudy Steltemeir. Steltemeir, a Tennessee sales representative for 66 years, died in 1993 at the age of 92, and many successful representatives attribute their success to his help.
Isser joined the Tri-State Chapter of IHFRA in 1978 and has been active in his chapter, holding every office possible including president in 1996-1998 and chairman of the board in 1998-2000.
Becoming more involved with IHFRA on a national level, Isser "went through the chairs" and became IHFRA's 68th President in 2006. He completed his educational course requirements to become a CHR in 2003, and has participated in all the Marches on Washington and promoted and represented IHFRA at many industry gatherings. He has been an example to follow for the newer and younger representatives coming into the industry and organization.
Isser is a graduate of Columbia University and a furniture industry veteran with more than years as a sales representative. He has represented such diverse lines as Wicker and Cane, King Koil, AICO, Chromcraft, Blackhawk, Stratford/Stratalounger, SLF, Gold Bond Mattress, Homelegance, A-America, Luke Leather, Rose Hill and Masterguard UV3.
The IHFRA Presidential Gala and Awards Dinner will be held on Friday, April 16 at 6 p.m. in the IHFC Ballroom. For more information contact the IHFRA Office at 336-889-3920 or e-mail here.
April 4,
2010 by in UnCategorized
By Home Furnishings Business in Legal on April 5, 2010
Tennessee Attorney General Bob Cooper filed a lawsuit against two Nashville furniture stores and their owners for allegedly failing to deliver goods or make refunds to consumers.
The lawsuit names Amanda Lee Drew, Timothy Bryan Drew and Anita Renee Drew who did business as WOW Furniture until it closed in 2009. Timothy and Anita Drew also owned and operated Drews Furniture Depot a/k/a Drew's Furniture, also named in the lawsuit, from 2001 to 2008.
Consumers complained that the defendants offered to accept furniture orders from their customers using a store catalog, accepting advance payment, but that they failed to deliver the promised furniture and refused to refund the money of those who did not receive their orders.
"These companies have disappointed many consumers who bought furniture and who did not receive what was promised," Cooper said in a press release. "With these court filings, we seek to prevent future harm to other Tennesseans and are working to obtain refunds for those who did not get the items for which they paid."
The State asks the Court to order those named to permanently stop engaging in the furniture business in Tennessee and seeks to obtain refunds for consumers. Additionally, the State requests civil penalties and the freezing of Timothy Drew's and Anita Drew's assets. The State also seeks to revoke the defendants' business licenses authorizing them to engage in the furniture business in Tennessee.
Because Amanda Drew, who did business as WOW Furniture, filed bankruptcy in the United States Middle District Court on June 23, 2009, the State may not be able collect money from her unless the bankruptcy is dismissed.
To date, consumers have filed 89 complaints against these two furniture stores with the Better Business Bureau, the Tennessee Division of Consumer Affairs and even the United States Bankruptcy Court for the Middle District.