Daily News Archive
Brought to you by Home Furnishings Business
December 18,
2008 by in UnCategorized 
By Home Furnishings Business in economic news on December 19, 2008
Herman Miller officials were pleased with the office furniture maker's second quarter, which saw sales decline 5.8 percent to $476.6 million and earnings per share dip 10.4 percent to to 60 cents.
"In the face of a challenging economy and tough prior year comparisons, we demonstrated our ability to deliver strong operating performance and the resiliency of our business model," said Brian Walker, CEO of the Zeeland, Mich., company. "Our people have done an exceptional job of managing cost and productivity, prioritizing activities that are crucial to serving our customers today, while continuing to invest in capabilities to fuel our long-term growth."
In January, Herman Miller announced plans to idle 400 workers to produce savings of about $60 million.
December 17,
2008 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on December 18, 2008
Retail industry researcher Britt Beemer added a dash of optimism to what had been a downbeat Christmas retail forecast after a strong performance by Wal-Mart over the Dec. 13–14 weekend.
Beemer, CEO of Charleston, S.C.-based America's Research Group now expects Christmas retail sales to be down 2.8 percent from last year's levels. The forecaster—who publishes a monthly furniture retail index—previously estimated that Christmas sales would be down 3.5 percent.
According to the fifth America's Research Group/UBS Christmas survey, nearly two-thirds of those who shopped over the weekend made trips to Wal-Mart.
"Wal-Mart had as many shoppers (during the) weekend as J.C. Penney, Sears, Target and Toys R Us combined," said Beemer, who also publishes a monthly furniture store shopping index. He said Wal-Mart's "unheard-of domination of the retail industry this Christmas, coupled with the fact that consumers are seeing and taking advantage of 60-percent-off and 70-percent-off sales, leads me to raise my forecast."
According to the survey of 1,002 consumers Saturday and Sunday, 66.2 percent of those who shopped visited Walmart (versus 41.2 percent in 2007). The second-ranked destination, J.C. Penney, was visited by 18.1 percent of those surveyed, which was about the same as a year earlier. Overall shopping levels during the Dec. 12–13 weekend were equal to last year, with about 48 percent saying they shopped.
Evidence that shoppers are being more conservative can be seen in responses showing that 27.5 percent of consumers had already completed their shopping and 42.2 percent expect to finish this week (compared to 33.9 percent in 2007).
December 17,
2008 by in UnCategorized
By Home Furnishings Business in economic news on December 18, 2008
Standard Furniture, which makes bedroom furniture at its Bay Minette, Ala. headquarters and Frisco City, Ala. facility, laid off 80 workers in Bay Minette, the Associated Press reported Wednesday.
Standard has trimmed the workforce at its two plants by 700 workers, or almost half this year.
The most recent cuts included office and factory workers.
December 17,
2008 by in UnCategorized
By Home Furnishings Business in Executive Changes on December 18, 2008
Foamex, Media, Pa., announced Wednesday that Harold Early has joined the company as executive vice president and chief financial officer.
Before joining the maker of polyurethane foam for the bedding, furniture, carpet cushion and automotive markets, Early was CFO for Sonitrol Corp., a provider of commercial security systems. Earlier in his career, he served as CFO of Celetronix International.
Previous Foamex CFO Robert Larney left the October after a little more than a year in the post to pursue a position in another industry, and Domenic Golato had been in the job on an interim basis.
December 17,
2008 by in UnCategorized
By Home Furnishings Business in Casual Furniture on December 18, 2008
BodySound Technologies, Minneapolis, has introduced home theater seating with a built-in, seven-speaker surround-sound system that provides for a big impact in smaller spaces such as small bedrooms, apartments and condominiums.
With the built-in sound system, users can feel as well as hear the sound. BodySound's technology incorporates steel framing construction that is designed to produce "pleasant, full-spectrum vibrations" while allowing users to customize how much or how little they wish to feel.
"Our patent-pending technology enhances the audio-tactile experience more than big-screen TV adds to the video experience," said BodySound CEO Dan Cohen. "With personal surround sound and BodySound technologies, every user can experience movies, TV, gaming and music in a way that more fully engages the senses."
The seating, which is covered in 100 percent Italian leather, can be ordered as a recliner, connected rows or curves of seats, love seats, sofas or custom configurations.
The company's suggested retail price for its recliner is $5,995.