Daily News Archive
Brought to you by Home Furnishings Business
December 8,
2009 by in UnCategorized 
By Home Furnishings Business in on December 9, 2009
High-end furniture manufacturer Theodore Alexander, Ho Chi Mimh City, Vietnam, will establish Theodore Alexander USA Inc., a new company which will handle distribution for the United States, Canada and Mexico for 12 years.
Effective Jan. 4, Theodore Alexander USA take over all sales, marketing, and distribution for the North American market from previous distributor Sherrill Furniture Co., which had handled the sales, customer services, logistics and day-to-day operations.
Theodore Alexander USA will retain its current sales representatives and handle all customer transactions and communications including sales, marketing, customer service, credit and collections, supply chain management, and information technology. The company will maintain its current showroom at 201 Steele Street in High Point, and its sales and marketing office will be located at 411 Tomlinson Street in High Point.
Theodore Alexander USA also will retain the same highly trained customer service personnel that Sherrill had dedicated to Theodore Alexander. Warehouse and shipping functions will be outsourced to the dedicated TA facility at Sherrill Furniture. Theodore Alexander retailers are receiving detailed information related to the changes ensuring the transition will be seamless.
The new company is led by Harvey Dondero, CEO, along with a management team comprised of David Koehler, senior vice president of sales; Doug Jermyn, operations manager; and Toni Tallent, customer service manager. Jermyn joins the company from Universal Furniture where he held the position of credit manager. He reports to Dondero. Tallent was previously customer service manager with Sherrill Furniture and she will report to Jermyn.
"Theodore Alexander is fortunate to have had its distribution handled for the past 12 years by Sherrill Furniture, an experienced and capable industry leader," said Dondero. "Sherrill allowed us to establish our world-class manufacturing operations and to expand the brand globally while it grew the important North American markets. Now is the perfect time for us to assume the sales and marketing functions, as the brand is poised for an era of substantive growth. We have a series of important brand initiatives underway, and key to those is our vertical integration, from our craftspeople and manufacturing operations to our fine customers. We thank Sherrill and are pleased they will remain involved with helping Theodore Alexander move forward."
December 8,
2009 by in UnCategorized
By Home Furnishings Business in on December 9, 2009
Specialty sleep retailer Select Comfort Corp. (NASDAQ: SCSS) has set the common stock price for its upcoming public offering at $4.75 a share.
The public offering will result in gross proceeds of $18 million, and after deducting underwriting discounts and commissions, the net proceeds will be $16.96 million. Additional offering expenses are expected to be about $500,000.
Piper Jaffray is acting as the sole manager for the public offering.
If Sterling Partners exercises its preemptive rights to maintain its percentage ownership at about 9 percent, an additional 341,254 shares of common stock would be issued upon the same terms as the issuance of shares in the public offering. The public offering is subject to customary closing conditions and is expected to close Friday, Dec. 11.
The company plans to use the proceeds of the public offering to improve working capital and pay down debt. Under the terms of the companys amended and restated credit agreement dated Nov. 13, the aggregate amount available under the credit facility at closing will be $40 million. The proceeds from this public offering are expected to fulfill the companys obligation under the credit agreement to issue additional equity.
December 7,
2009 by in UnCategorized
By Home Furnishings Business in on December 8, 2009
To support its licensing brand partners and expand opportunities for increased sales, Woolrich has launched a new consumer
Web site dedicated to its home furnishings division.
The site went live Nov. 20 and began receiving requests from consumers for literature and other information within its first few minutes of operation, according to Woolrich, Pa.-based Woolrich. Encompassing more than 500 products, the Web site will be used in all advertising and public relations initiatives for home furnishings.
Consumers visiting the site who "Join Our Mailing List," as well as those who request literature via the reader service sections in select shelter magazines, will receive a 16-page color booklet highlighting products from each of Woolrich's home furnishings brand partners.
"We know the shopping process for many customers includes extensive research on the Web, collecting literature, and visiting retailers," said Sharon Kepley, manager of licensing for home furnishings. "As the economy trends upward in 2010, Woolrich and our brand partners will be well positioned in the minds of potential home furnishings customers. We fully expect these tools to turn shoppers into buyers."
The Web site showcases the unique products of Woolrich's home furnishings brand partners, all celebrating the beauty of the outdoors. Visitors to the site can preview a wide variety of products including bedding ensembles, blankets, bed and bath accessories, area rugs, wall décor, indoor and outdoor furniture, indoor and outdoor lighting, pottery dinnerware and tabletop accessories, garden accessories, and handcrafted collectible Christmas Santas.
A retail store locator will display premier retailers who have meaningful displays of Woolrich. Many items can be purchased by clicking, "Buy Online Now," which connects to the Woolrich e-commerce site located at
www.woolrich.com. Seasonal decorating stories offer design tips and product suggestions. Those who Join Our Mailing List will also receive occasional e-mails offering specials and announcements regarding new products.
December 7,
2009 by in UnCategorized
By Home Furnishings Business in on December 8, 2009
Outdoor retailer Cabela's (NYSE: CAB), Sidney, Neb., will sell furniture made from recycled Wyoming snow fences by Laramie-based Mountain Woods Furniture, the Wyoming Business Report reported Monday.
The Wyoming Bedroom Collection from Mountain Woods, which features reclaimed woods from Centennial Woods, is shown on the cover and contents page of Cabela's catalog. Photos of the collection also can be seen here.
"We're honored that our dealers including Cabela's are highlighting this new collection to their customers," said Mike O'Connell, co-owner of Mountain Woods. "As founding members of the Sustainable Furniture Council, Centennial Woods' reclaimed snowfence product fits perfectly into our eco-friendly philosophy while also making this an extremely attractive product."
"This wonderful collection is an excellent way to bring the history, beauty, and responsibility of reclaimed snowfence into homes and commercial spaces," said Mike Thomas, chief operating officer of Centennial Woods. "I can imagine no better way to complement our floors, ceilings, wainscoting and trim than to place one of these wonderful pieces in the room."
Centennial Woods reclaims and processes snowfence materials into exterior products such as siding and soffit and interior products like flooring, ceiling treatments, trim and wainscoting. The unique wood also is used increasingly for furniture, doors, window trim, cabinets and specialty fixture applications.
Cabela's is a leading direct marketer and retailer of hunting, fishing, camping and related outdoor merchandise.
December 7,
2009 by in UnCategorized
By Home Furnishings Business in on December 8, 2009
New York Attorney General Andrew M. Cuomo announced Monday that his office has reached an agreement with Carl's Furniture City, Watertown, N.Y., requiring the business and its owner to remedy furniture delivery issues and cease deceptive marketing tactics.
The AG's office began investigating the company after receiving complaints from consumers regarding delivery and business practices. The investigation determined that Carl's Furniture City, Inc., owned by Carl Vogel, failed to promptly deliver furniture that had already been paid for, failed to give customers refunds for furniture that never arrived, and actually charged customers additional "restocking" fees on the canceled orders.
The investigation also found that Carl's Furniture City engaged in a deceptive marketing scheme by inducing customers to purchase $500 in furniture with "$500 in groceries" and "free cruise" vouchers that contained unreasonably restrictive exceptions and additional charges that negated the benefit of the promotion. In order to obtain the $500 grocery voucher, a consumer had to start collecting $100 in grocery receipts from a pre-selected store each month in order to receive a $25 voucher. Therefore, a consumer would be required to spend at least $2,000 over a 20-month period to collect $500. If a consumer didnt submit a receipt for $100 in any given month during the period, they would become ineligible for the promotion.
"This business ignored customers who hadn't received the products they purchased and employed deceiving promotional gimmicks to lure more customers into the store," Cuomo said in the announcement. "Fortunately for the customers, the law is on their side. Businesses that neglect their obligations or act irresponsibly will be held accountable, and this company must now conform to New York law."
New York state law requires furniture and appliance dealers to provide consumers with estimated dates or date ranges of delivery. In the case of significant delays, companies must give customers the option of a cash refund, store credit, a new delivery date or another piece of merchandise.
Through an agreement with Attorney General Cuomos Office, Vogel and Carls Furniture must tell consumers who currently have store credit for furniture that was never delivered within the original specified range of dates that they have a right to cancel the contract and receive a full refund; immediately cease deceptive promotions that are wrought with unreasonable qualifiers or additional expenses that invalidate the promotion; and pay $15,000 in penalties, fees and costs to the state.
Consumers who have unresolved complaints with Carl's Furniture City Inc. or any other business are urged to contact Attorney General Cuomo's Regional Offices in Watertown (315.785.2444) or Utica (315.793.2225), or visit
www.oag.state.ny.us.