Daily News Archive
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March 1,
2010 by in UnCategorized 
By Home Furnishings Business in Community/Charitable Support on March 2, 2010
Memory foam mattress manufacturer Anatomic Global, Corona, Calif., has launched a new Web site, www.WorldBed.org, as part of its ongoing humanitarian effort, The WorldBed Project. The Web site provides detailed information on the WorldBed, a specially designed cot-sized emergency field bed and helps raise awareness for Haiti relief efforts.
As part of its commitment to sustainable global comfort, Anatomic Global is calling on the business community, both inside and outside the mattress industry, to join the company in this special effort to bring sleep surfaces to Haiti. Anatomic global also is asking for individuals to make a monetary donation to The WorldBed Project or to a trusted not-for-profit organization to help stabilize the situation in Haiti and expedite the Rescue and Response effort.
"We are asking companies to donate raw, recycled or new materials; help with transportation and logistics; develop a program that fits their specific vision for relief; or volunteer their time to make the WorldBed possible," said David Farley, Anatomic Global's CEO. "There is an urgent need for shelter and sleep surfaces and with help, we can reach our goal of delivering 200,000 beds."
The WorldBed Project involves a lightweight and portable sleep surface that can be rolled-up and quickly dispatched, in volume, to areas of need, anywhere, worldwide. Built from high-performing cushioning foam and a moisture-resistant cover, the cot-sized beds are designed to provide comfort, to increase levels of health and safety, all in an effort to speed recovery and aid in healing. To date 2,616 WorldBed products have been shipped to Haiti with production levels currently nearing 1,000 WorldBeds per week.
Joining Anatomic Global in this initiative are its key suppliers, FXI Foamex Innovations, UPS, Deslee Textiles USA, Royal Packaging and the Brookwood Companies. For the group, this is the second such time they have manufactured the WorldBed, the first being in the aftermath of Hurricane Katrina when they made 3,000 units that ended up benefitting the temporary residents of the Cajun Dome in Lafayette, La.
"Our Katrina experience taught us that the delivery timing has to be right, that the product has to be useful and that the physical product must have a minimal waste clean-up impact or environmental load," Farley said. "The timing is now to begin turning-up our activities for the Relief and Recovery phase."
Anatomic Global is re-investing its corporate profits from all operations for the first quarter of 2010 to manufacture WorldBeds for Haitian relief.
March 1,
2010 by in UnCategorized
By Home Furnishings Business in Acquisition on March 2, 2010
The employees of Southerland are acquiring the bedding supplier through an employee stock ownership plan buyout.
The sale of the company under the ESOP is expected to be final March 31.
The new company will keep the Southerland name and will be led by two co-presidents, David Corbin and Stephen Russo, and executive vice president and CFO Bryan Smith.
Southerland has operated as a family-owned enterprise for more than a century, and is one of the leading independent bedding manufacturers in the U.S. Over the past nine years, Southerland has grown into a three facility operation headquartered in Nashville, Tenn., with additional facilities in Oklahoma City and Phoenix. These facilities offer scalability and capacity ideally suited for the companys plans for further growth and distribution.
The move from family-owned to an ESOP-owned structure and recapitalization is being led by the new executive leadership at the company as well as members of the Southerland family and current management team. Under the new ESOP, employees will own 100 percent of Southerland. The new ESOP structure will result in significant tax efficiencies as well as additional incentives and exceptional retirement benefits for employees.
Under the new leadership team, Southerland will continue to develop its own brands as well as private label brands for regional bedding retailers. The company will continue its heritage of delivering high-quality bedding products at value-oriented prices. In addition to supervision of the day-to-day operations, Southerlands new management team will focus on innovative and consumer-focused product development, a diversified licensed brand portfolio, optimization of its cost structure through lean practices, strategic sourcing and value-added sales efforts.
Corbin and Russo have been working as consultants with Southerland since mid-2009. Corbin is a former president and C-level executive with a background in marketing and new product development stemming from his brand management experience at Procter & Gamble and executive positions with Pulaski Furniture Corp. and Chromcraft Revington. Russo is a former president and operations expert who ran Latex International, Consolidated Bedding and Restonic Mattress. Bryan Smith, who will be executive vice president and CFO of Southerland, is a long-standing member of the Southerland management team, with 12 years experience at the company and more than 20 years total experience in managerial accounting.
Southerland was founded in 1893 and has been family-owned since its inception. The company operates more than 274,000 square feet of combined production and distribution facilities and is one of the leading independent bedding manufacturers in the U.S.
March 1,
2010 by in UnCategorized
By Home Furnishings Business in licensing on March 2, 2010
Theodore Alexander will collaborate with the Keno brothers to produce and market a collection based on the brothers' love of antiques and vintage modern furniture.
The Keno Bros. collection will be unveiled during the High Point Market in the Theodore Alexander showroom at 201 Steele Street.
Leigh and Leslie Keno are extraordinary experts of furniture from all periods, which make them perfect partners for Theodore Alexander," said Harvey Dondero, CEO of Theodore Alexander. "Their impeccable standards with respect to quality and construction mirrored our own, and their incredible knowledge of furniture and design made the entire process a pleasure.
Twin brothers Leigh and Leslie Keno have been interested in rare Americana for more than 30 years, and are acknowledged experts in the field. In 2005, President Bush awarded them with the National Humanities Medal, in recognition of those who strive to deepen the publics knowledge of the humanities. The Humanities Medal is a highly prestigious honor, and medal recipients do not compete for this award, but are specially selected by the President for their life-long achievements in diverse areas of expertise.
They have achieved celebrity status as appraisers on the PBS show Antiques Roadshow, with 10 million viewers watching weekly. In 2003-2004 they were hosts of the PBS show "Find!" and since 2008 they have also hosted the show Collect This! with the Keno Brothers on MSN. Aside from their television duties, Leigh owns and operates Keno Auctions in New York, while Leslie serves as senior vice president and director of American furniture and decorative arts at Sothebys in New York.
The Keno Bros. collection is an assortment of more than 40 pieces, taking the best of earlier periods and combining them in a perfect synthesis of traditional styling enhanced with fresh, modern appeal. Realizing American homes are a blend of old and new, the Kenos focused on creating timeless classics that will become the heirlooms of tomorrow. Their enduring passion for sculpture, furniture, paintings, and rare objects transforms into a line of home furnishings where fine craftsmanship returns to the forefront. Many items are easily adaptable in various home environments, and incorporate functionality through design and purpose.
We believe furniture has to be good through and throughnot just beautiful, but well made. We love pieces that are simple, functional, and easy to care for, said Leslie Keno.
People always ask us, what furniture is being made today that will be collectible tomorrow?," Leigh Keno said. "And we tell them, its pieces that show true craftsmanship and quality.
March 1,
2010 by in UnCategorized
By Home Furnishings Business in High Point on March 2, 2010
The premier men's magazine
Esquire is teaming up with Halo for a line of home furnishings and accessories that will be unveiled at the upcoming High Point Market.
Halo is a British home furnishings company established in 1976.
The Esquire Home collection extends the magazines philosophy of Man at His Besta lifestyle focused on luxury, sophistication and comfortwith a unique furniture collection. Distressed leathers and neutral twills and tweeds reflect the same discerning sensibility that goes into creating menswear. Polished nickel finishes and black glass embellishments evoke a cool and contemporary style.
The concept behind the collection was to satisfy mans desire for a unique living space inspired by
Esquires legacy of style and the highly coveted Signature Space experience, said Glen Ellen Brown, vice president of Hearst Brand Development. Collaborating with Halo and their unique lifestyle perspective on luxury furniture and design has enabled us to embark on delivering the ultimate man space.
Esquire, published by Hearst Magazines, has a 77-year legacy.
We are incredibly excited to be working with a brand as iconic and established as
Esquire," said Timothy Oulton, owner and design director of Halo. "We feel the Esquire design philosophy and Halos masculine style combine to create the ultimate mens collection."
Halo shows in Interhall in the International Home Furnishings Center
March 1,
2010 by in UnCategorized
By Home Furnishings Business in Financial Reports on March 2, 2010
Fabric and ticking supplier Culp (NYSE: CFI) posted net income of $3 million for the third quarter ended Jan. 31, compared with a net loss of $450,000 during the same period last year.
Net sales for the three-month period were $54 million, a 21 percent increase compared with $44.6 million a year ago.
"We are pleased with Culp's strong performance for the third quarter," said Frank Saxon, chief executive officer. "We achieved a 21 percent gain in overall sales from the third quarter of last year, marking the first year-over-year sales gain for the company in two years. We are encouraged taht the consumer appears to be slowly returning to the marketplace."
In the mattress ticking segment, the company posted sales of $27 million, a 7 percent increases compared with $25.2 million for the prior year quarter.
"These results reflect the benefits of the ongoing investments we have made to develop an efficient and scalable manufacturing platform," Saxon said. "In addition, we benefitted from other operating initiatives. During the third quarter, we began the installation of state-of-the-art finishing equipment for our growing knit business and will complete the project during the fourth quarter."
The company will also be investing in additional capacity for knit and woven goods, and completing and energy efficiency initiative in its Canadian operation.
Sales in the company's upholstery segment were $27 million, a 39 percent improvement compared with $19.4 million in the third quarter of fiscal 2009. Sales of non-U.S. produced fabrics were $23.5 million, up 53 percent over the prior year period. Sales of U.S. produced fabrics were $3.5 million, down 12 percent from the third quarter of fiscal 2009.
"This period marks the first year-over-year sales increase for this business segment in three year, and the highest quarterly profit in over five years," Saxon said. "We are especially encouraged by the extent of our sales gains throughout our customer base."
Looking forward, Saxon said economic uncertainties and unemployment will continue to impact consumer demand for furniture and bedding.
"Our results to date for fiscal 2010 demonstrate that we have positioned Culp to operate effectively and profitably through this challenging period," he said. "We have created lean and agile business models in both of our segments that are scalable and position us very well to handle significant growth as the home furnishings industry recovers. We believe we are a market leader in both of our businesses, and we have the financial strength necessary to build upon our position."