November 19,
2008 by in UnCategorized 
By Home Furnishings Business in Bedding on November 2008
Shifman Mattress Co. CEO Michael Hammer and Newark, N.J., Mayor Cory Booker cut a ribbon at the luxury mattress factory Tuesday to mark a 24,000-square-foot expansion that company officials said represents a renewed commitment to the city that’s been home to Shifman for 115 years.
The expansion adds to an 84,000-square-foot facility that also houses a state-of-the-art warehouse, offices and showrooms. It supplies fine furniture stores and, since 1987, has created a luxury bedding line that’s sold exclusively at Bloomingdale’s.
“This expansion represents a renewed commitment to the marketplace as well as to the city of Newark, which has been our home since 1893,” Hammer said. “Thanks to a loyal and expanding base of dealers and their customers, we are celebrating our 115th year in business. I only wish that the company’s founders, the Shifman brothers, could see how we have grown year after year while carefully preserving their tradition of manufacturing by hand.”
He attributes the company’s success to its employees, many of whom walk or bike to Shifman’s factory at One Mott Street in the city’s Ironbound District.
November 19,
2008 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on November 2008
With almost three-quarters of American consumers feeling at least some pressure from debts, retailers shouldn’t expect a merry Christmas this year. That’s according to the first of six Christmas shopping season surveys from America’s Research Group/UBS.
According to the survey, released Thursday, only 63.9 percent of Americans feel truly secure in their job, while 22.8 percent already have seen layoffs at their workplace, and 31.8 percent expect layoffs in the future. At the same time, more than half of American consumers (52 percent) feel some pressure from debts, and 21.8 percent feel a lot of pressure.
Of those feeling pressure from debt, 57.9 percent will spend less this Christmas due to their credit concerns.
“Consumers have snapped shut their wallets this year, and it’s difficult to find a bright spot for the Christmas shopping season,” said C. Britt Beemer, chairman of ARG, the Charleston, S.C.-based research firm specializing in consumer behavior.
UBS Global Equity Research teamed with ARG for six surveys this Christmas season, the next scheduled over Black Friday weekend. This week’s survey consisted of 1,000 telephone interviews of adults 20 to 59 years of age conducted Thursday and Friday, Nov. 13 and 14. The error factor is plus or minus 3.8 percent. According to an announcement of results, Beemer has correctly predicted Christmas retail sales in 16 of the last 17 years.
The survey indicated that gift cards, a bright spot for retailers last year, will suffer this season because consumers worry that stores could go into bankruptcy and not honor the cards. Of those consumers who normally give gift cards but won’t this year, 64.4 percent will give money instead. Only 35.6 percent said they would give gifts instead, dashing retailers’ expectations that fewer gift cards could boost gift sales. Of those consumers who will give fewer gift cards, more than a third (36.4 percent) say that there is a chance they could give nothing at all.
Christmas shoppers will be more bargain-conscious than ever, which 84 percent saying they are more sales-driven than they were three to five years ago. Almost 90 percent (89.2 percent) of consumers say they are either some (55.6 percent) or very much (33.6 percent) driven by sales and discounts.
The top-rated sales promotions are:
• 50 percent off (41.9 percent of consumers)
• Take an additional 20 percent off (28.6 percent of consumers)
• Save 40 percent to 60 percent (27 percent of consumers)
• Buy one, get one free (24 percent of consumers).
Ladies’ specialty stores are at risk, according to Beemer. Of women, 36.3 percent do not shop at ladies’ apparel specialty stores at all. Of those who do, 26.2 percent will spend less this Christmas season at those stores.
November 19,
2008 by in UnCategorized
By Home Furnishings Business in Case Goods on November 2008
Chinese furniture manufacturer Markor International Furniture Co. Ltd. announced Wednesday that its board of directors has given its approval to seek acquisitions in the United States.
The company believes current challenging economic climate creates opportunities to evolve from OEM-based operation to an own-brand-manufacturing business model.
Markor currently is the product source for A.R.T. Furniture. The company also manufactures goods for other companies including Ethan Allen—with whom it has a retail partnership in China—and for part of Legacy Classic’s line.
Markor International Furniture stock on the Shanghai exchanged rose 7.83 percent on Wednesday to close at 3.58 yuan per share.
November 19,
2008 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on November 2008
Robbins Furniture in Austin, Minn., is closing for good after 75 years and three generations of selling furniture, according to a report Wednesday in the
Austin Post-Bulletin.
The store closed in late October after selling its location to Mower County, which planned to demolish buildings on the block to make room for parking, construction staging and a possible geothermal heating cooling system. At that time Robbins Furniture President Mike Robbins was thinking about reopening in another location.
“In light of current economic conditions, we have decided not to relocate our furniture enterprise,” Robbins said in the report.
November 18,
2008 by in UnCategorized
By Home Furnishings Business in Bedding on November 2008
Sleepy’s, which has nearly 700 locations, has expanded its support for Toys for Tots by employing nearly all of its stores as drop-off stations through December 16. The Bethpage, N.Y.-based retailer, which operates stores from Vermont to Virginia, also will be accepting cash donations for the Toys for Toys Foundation to purchase and distribute age appropriate gifts to children in need.
“We’re excited for this company-wide effort with Toys for Tots and look forward to bringing joy to so many this holiday season,” said Mike Bookbinder, executive vice president of sales, Sleepy’s.
In 2007, Marines distributed toys to 7.5 million children in more than 600 communities nationwide.