Daily News Archive
Brought to you by Home Furnishings Business
October 9,
2008 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on October 2008
Mark Bacon Sr., a retail veteran with experience at Pep Boys, Staples and Wal-Mart, has been named La-Z-Boy’s chief retail officer. He succeeds Mark Wiltshire, who had been president of La-Z-Boy’s retail segment before recently leaving the company.
Bacon, who reports to La-Z-Boy President and CEO Kurt Darrow, has responsibility for all sales, store operations, training and merchandising for the company’s retail segment, which includes 69 company owned La-Z-Boy Furniture Galleries stores.
He was executive vice president of sales, commercial and operations for Pep Boys, where he was responsible for 593 stores that generate sales of $2.4 billion. According to a news release, he spearheaded the turnaround of a nine-year decline in sales. Prior to that, he was senior vice president of sales and operations at Staples and earlier, was director of operations at Wal-Mart, where he oversaw operations for the mid-Atlantic region.
In an announcement, Darrow thanked Wiltshire for his 11 years at La-Z-Boy and said Bacon, “brings with him a wealth of superb retail excellence and experience and will undoubtedly be a strong leader for our retail segment, which has gone through a huge transition over the past several years while operating in a very difficult environment. Mark has a proven track record of turning around and growing retail businesses and I have every confidence he will make a significant contribution to our company.”
The La-Z-Boy Furniture Galleries network includes 333 stores.
October 9,
2008 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on October 2008
Bassett Furniture Industries reported Thursday that sales in its third quarter totaled $70.2 million—a decline of $338,000 from the same period of 2007. It recorded a net loss of $2.7 million versus net income of $676,000 during 2007’s third quarter.
For the 40-week period that ended Aug. 30, Bassett’s sales increased 3 percent to $226.6 million, with a net loss of $2.5 million versus a $5.9 million loss a year earlier. The company, which operates a network of about 120 stores, said it opened three stores and closed 13 under-performing stores in the first nine months of this year and expects to close three to five by the end of the year.
Sales in the company’s retail segment increased to $24 million from $22.2 million in the third quarter, according to the announcement, which did not provide a comparable store sales figure.
“Despite our overall disappointing results, we believe that progress was made in key areas of our operations,’’ said Robert H. Spilman, Bassett’s president and CEO. “We continue to show improved gross margins in both the wholesale and retail divisions over 2007, and our new product introductions have been well-received. We also have been successful in reducing our overall cost structure through targeted spending reductions. We remain encouraged by the sales results from our new retail store prototype despite the ongoing difficult home furnishings environment. Sales per square foot in the new format continue to meet our expectations and to noticeably outperform our existing fleet average.”
In addition to closing under-performing stores, he said the company is reducing inventory to improve cash flow and “right-sizing our expense structure” in both the retail and wholesale divisions.
He said the company also is making investments in store prototype conversions and working with licensees to improve their operating results.
“With the improvements in our retail program and our strong balance sheet, we are well positioned to not only survive these turbulent times, but also to gain market share as come of our competitors exit the industry,” Spilman said.
October 9,
2008 by in UnCategorized
By Home Furnishings Business in High Point on October 2008
An item in Thursday’s newsletter about High Point maintaining its published dates following the Las Vegas Market’s move from July to September in 2009 contained an error. The article should have stated that about one-third of Las Vegas exhibitors also have showrooms in High Point. We regret the mistake.
October 9,
2008 by in UnCategorized
By Home Furnishings Business in Upholstery on October 2008
Carpenter Co., the largest manufacturer of comfort cushioning in the world, has formally introduced the Renew brand of foam cushioning made with Cargill’s soy-based BiOH polyols. Renew products are fully recyclable and available in a wide assortment of firmness and densities, including the first bio-based high resiliency foam.
“We are already selling Renew foam to major names in the furniture industry such as the La-Z-Boy brand, and we are beginning to work with bedding manufacturers as well,” said Carpenter President Stan Yukevich. “We chose Cargill’s BiOH polyols for their unique and proprietary soybean oil technology, which allows us to produce consistent quality without sacrificing consumer comfort and without the need for our customers to reengineer their processes. It’s no surprise that it’s already proving to be a popular option.”
Derived from natural vegetable oils such as soybean oil, BiOH polyols help flexible polyurethane foam manufacturers reduce their environmental footprint and market their choice to downstream customers. Manufacturers are currently applying the technology to make new products for bedding, furniture and automotive uses. Customers include some of the biggest names in those industries.
“We’re thrilled to team up with Carpenter to bring technologically superior biobased cushioning to the global market in a big way,” said Yusuf Wazirzada, business unit leader of Cargill Biobased Polyurethanes. “This is a major milestone in a journey that started for us as a research project only four years ago and is quickly expanding to global manufacturing and distribution.”
Cargill has made significant investment in BiOH polyols technology. In 2007, the company announced the opening of a $5.5 million polyols research and development facility. More recently, Cargill announced that it was scaling up its manufacturing capabilities with construction of a $22 million BiOH polyol plant in Chicago to meet growing demand. Though not expected to be fully operational until November, initial production batches were made in early September.
October 9,
2008 by in UnCategorized
By Home Furnishings Business in Las Vegas on October 2008
The Las Vegas Design Center at World Market Center will host a “covered” event next week offering window presentations, upholstery fabric selections, color trends, eco-friendly leather and more.
The fabric event runs 9 a.m.-5 p.m., Tuesday, Oct. 14.
Margaret Casey, director of programming for World Market Center Las Vegas, said “designers, students and design aficionados are all welcome to attend where they can be inspired and hear from the experts what colors and fabrics are here to stay.”
Events include:
• “Beyond the Basics--Creating Cutting-edge Treatments using Classic Contemporary”
Jackie Von Tobel, author of The Design Directory of Window Treatments, will discuss current trends in window treatment design and construction and demonstrate the basic elements of soft treatments in new ways to design unique, cutting edge window fashions; 11 a.m.-12 noon, Las Vegas Design Center Seminar Room, C-316.
• “Designer Appreciation” lunch
A hosted lunch for designers only; Building A, noon–2 p.m.
• “Tricks of the Trade: How to Select Upholstery Fabric so Projects are Problem-free”
3 p.m. – 4 p.m.
Steve Avitable, vice president of merchandising for The Robert Allen Group, will uncover insights on choosing the most suitable fabric constructions and designs for a variety of furniture styles and frames, while discussing furniture lines such as Bolier & Co., Christopher Guy, E.J.Victor, Ferguson Copeland, Guy Chaddock & Co., Kindel Furniture Co., Payne Street, Swaim and Robert Allen Furniture; Las Vegas Design Center Seminar Room, C-316.
• Reception in the Robert Allen/Beacon Hill Showroom
Las Vegas Design Center showrooms Masterloom, Abbyson, Omnia, Dillon Wells and Prestige Arts will have special hospitality and showcased product during covered; 4 p.m., C-101.
Day-long highlights include: Leather for the Sustainable Conscious Consumer in the Kathy Ireland Home by Omnia Furniture showroom, A-256; Color Selections for 2009, Abbyson Living, C-196; New Colors and Trends in Fabrics, Masterloom C-124; Be Inspired by the Wide Variety of Home Décor at Dillon Wells, A-236 and A-239; Prestige Arts, A-130; Masterlooms Home with Massoud Furniture, C-124.
To R.S.V.P. or for more information please
e-mail or call (702) 599-3093.