Daily News Archive
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March 10,
2010 by in UnCategorized 
By Home Furnishings Business in economic news on March 11, 2010
The number of people applying for unemployment benefits fell by 6,000 in the most recent week, marking the second decline in a row.
For the week ended March 6, first-time claims fell to a seasonally adjusted 462,000 from a revised 468,000 in the prior week, according to the U.S. Labor Department report today.
The four-week average of initial claims rose 5,000 to 475,500, the highest rate since November. The number of people continuing to receive regular unemployment checks climbed 37,000 in the week of Feb. 27 to a seasonally adjusted 4.56 million. The number of people receiving extended federal benefits fell 159,000 to 5.53 million, not seasonally adjusted, in the week of Feb. 20.
Overall, 11.36 million people were collecting some type of unemployment benefits in the week of Feb. 20.
March 10,
2010 by in UnCategorized
By Home Furnishings Business in Motion Upholstery on March 11, 2010
Motion upholstery producer Prestige Motion will be showing in a new showroom during the High Point Market.
The company is moving to showroom 206 in Center Point from a space it occupied in Furniture Plaza.
"We feel the new showroom has great eye appeal, and our products will be viewed in a more open atmosphere," said Michael Parasmo, chief executive officer. "The new space will allow our clients to see more of what we do."
March 9,
2010 by in UnCategorized
By Home Furnishings Business in Community/Charitable Support on March 10, 2010
Bernie and Phyl Rubin, founders of Boston-based retailer Bernie & Phyl's Furniture have established Phyl's Fund to support multiple sclerosis research, WCVB-TV reported Tuesday.
Phyl Rubin suffers from the disease, but they had kept her struggle private for decades. She will begin appearing in public service announcements about MS.
Click here to donate to the Phyl Fund.
March 9,
2010 by in UnCategorized
By Home Furnishings Business in Delivery on March 10, 2010
Import cargo volume at the nation's major retail container ports is expected to be up 13 percent in March compared with the same month a year ago, and double-digit increases are expected to continue through the summer as the U.S. economy begins in improve, according to the monthly Global Port Tracker report released Monday by the National Retail Federation and Hackett Associates.
"These numbers show that retailers continue to anticipate improvements in the U.S. economy," NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. "This is very different from the past two years when merchants were continually cutting their imports in an effort to manage inventory."
U.S. ports handled 1.08 million twenty-foot equivalent units in January, the latest month for which actual numbers are available. That was down just under 1 percent from December as imports wound down after the holiday season, but up 2 percent from January 2009. It was also the second month in a row to show a year-over-year improvement after December broke a 28-month streak of year-over-year monthly declines.
February was estimated at 1.08 million TEU, the same as January but a 29 percent increase over unusually low numbers in February 2009, and March is forecast at 1.09 million TEU, up 13 percent from the previous year. April is forecast at 1.17 million TEU, up 19 percent as retailers begin to stock up for spring and summer, May at 1.21 million TEU, up 17 percent, June at 1.26 million TEU, up 25 percent, and July at 1.33 million TEU, up 20 percent.
The first half of 2010 is expected to total 6.9 million TEU, up 17 percent from last year's 5.9 million TEU. Imports for 2009 totaled 12.7 million TEU, down 17 percent from 2008's 15.2 million TEU and the lowest since the 12.5 million TEU reported in 2003. First-half growth is down from the 25 percent increase forecast a month ago, but reflects statistical issues at West Coast ports rather than a change in retailers import intentions.
Hackett Associates founder Ben Hackett said the U.S. economy appears to be in true recovery rather than the mid-point upswing of a double-dip recession.
"We are in a cautious but sustained growth cycle," Hackett said. "Trade will grow and as a result of statistical comparison with the trough in 2009, the growth rates will appear to be healthy."
Global Port Tracker, which is produced for NRF by the consulting firm Hackett Associates, covers the U.S. ports of Long Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Hampton Roads, Charleston and Savannah on the East Coast, and Houston on the Gulf Coast. The report is free to NRF retail members, and subscription information is available here or by calling (202) 783-7971. Subscription information for non-members can be found here.
March 9,
2010 by in UnCategorized
By Home Furnishings Business in Bedding on March 10, 2010
The International Sleep Products Association honored Ray Malkiewicz of Wickline Bedding Co.; and Interwoven Group President Sandy Van Dyke for exemplary service today at last week's ISPA EXPO 2010 in Charlotte, N.C.
Malkiewicz received the Russell L. Abolt Exceptional Service Award for having exemplified the highest level of career devotion to the well-being and betterment of the bedding industry. In addition to service as ISPA chair in 1995, his leadership within the industry has included participation on the Sleep Products Safety Council Board; the Finance, Nominating, and Trade Show Committees, and the Better Sleep Council.
"Ray Malkiewicz has been one of the most outstanding contributors to ISPA during his 40-plus years with the association," said ISPA Chairman Don Wright. "He has been one of the great leaders of our industry and a great mentor to many."
Van Dyke received The Robert MacMorran Memorial Award, which is given by the Suppliers Council to recognize outstanding service to the mattress industry. He also has a long history of ISPA service which includes the General Chair of the Suppliers Council, and leadership positions on the ISPA Board of Trustees; the Finance, Tradeshow and Nominating committees; and the Membership Task Force.
"Sandy embodies the spirit of hard work, dedication and partnership in the bedding industry," Wright said. "He has extraordinary personal integrity, and a tremendous amount of dedication towards ISPA."