Daily News Archive
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June 18,
2008 by in UnCategorized 
By Home Furnishings Business in Mattresses on June 2008
Culp, the world’s largest maker of fabrics for mattresses and upholstery, announced Wednesday it attained profitability in both its fourth quarter and fiscal year despite lower sales in both periods.
For the quarter ended April 27, net sales of $64 million were down from $73.2 million a year earlier, and net income of $2.1 million improved upon a $40,000 net loss.
For the fiscal year, net sales of $254 million were down by $6.5 million from the previous year, while the company posted net income of $5.4 million versus a loss of $1.3 million.
President and CEO Frank Saxon said, “We are pleased with our performance for the fourth quarter and year considering the current challenges we are facing. The uncertain economy, housing crisis and high energy costs have continued to influence consumer demand for furniture, and, to a lesser extent, bedding products. In spite of this environment, fiscal 2008 was an outstanding year for Culp, both in terms of our financial performance and the improvement in our competitive position.”
He called Culp, “a much stronger company than a year ago with respect to our value proposition to customers and our ability, both operationally and financially, to take advantage of opportunities in the current competitive landscape.”
June 18,
2008 by in UnCategorized
By Home Furnishings Business in Bedding on June 2008
The 20-store Dormia specialty sleep chain filed for Chapter 11 in the U.S. Bankruptcy Court in Maryland, the company announced Wednesday.
In a press release, officials said the action enables the company to “determine strategic options” for the stores in nine states and its 50 employees. It has received debtor-in-possession financing from The CIT Group, which will enhance the nine-year-old chain’s liquidity, according tot he statement.
The release emphasized that Dormia’s wholesale mattress manufacturing business, Classic Sleep Products, is not affected by the move and continues to grow. “Like other specialty sleep manufacturers who entered the direct-to- consumer business over the past few years, we saw this as an opportunity to create another retail channel and to provide broad exposure for our brand,” said Classic Sleep Products President and CEO Mike Zippelli. “While some of the stores performed well over the years, we were never able to open enough locations to leverage the advertising and operational support in multiple markets.”
Zippelli said its wholesale business has seen a 15 percent in 2008 sales over the year before. “Classic is doing very well, and we did not want to negatively impact that business by supporting an unprofitable stores division,” Zippelli said.
June 18,
2008 by in UnCategorized
By Home Furnishings Business in Advertising on June 2008
Television personality Paige Davis, host of The Learning Channel’s hit series “Trading Spaces,” is serving as spokesperson for a major new advertising campaign for Salt Lake City-based R.C. Willey.
The campaign, which launched throughout R.C. Willey’s five markets in the Western United States on Monday, features television, newspaper, radio, Internet and outdoor billboard advertising. All of the new ads feature Davis, working for the first time on behalf of R.C. Willey .
The largest furniture dealer west of the Mississippi – and a subsidiary of Berkshire Hathaway – R.C. Willey has stores throughout Utah’s Wasatch Front, as well as Boise, Idaho; Sacramento, California; Reno, Nev., and two in the Las Vegas area.
The popular and personable Davis is a perfect fit for R.C. Willey’s new brand and direction, said R.C. Willey President Jeff Child.
“People know Paige from TV and trust her as someone with style, taste and flair,” Child said. “Those attributes make her the perfect personality to embody the R.C. Willey brand. She is bright, charming and fun--and will make our customers feel at home.”
The new R.C. Willey campaign--geared around the theme, “Your Home, Your Way,”--was produced by Salt Lake City-based advertising agency Love Communications, which became R.C. Willey’s agency of record in early March. The television commercials and other creative elements featuring Davis were shot on location at R.C. Willey’s Summerlin, Nev., store in the Las Vegas area in late April.
A certifiable hit (with an average of 4 million viewers at its peak), TLC’s “Trading Spaces” premiered in 2000. Davis is currently in production on 24 new episodes of “Trading Spaces,” scheduled to air on TLC this fall.
The new commercials, newspaper inserts and outdoor billboards are “really going to make people stop and take notice,” said Clark Yospe, marketing vice president for R.C. Willey. “It’s unlike anything we’ve ever done before, and it’s a bold step forward for our overall brand.”
Davis also will have a large presence on the R.C. Willey Web site, rcwilley.com, and will make personal appearances at R.C. Willey store locations later in the year.
“I love working with R.C. Willey! It’s important to me to work for a store that carries items I actually want to put in my own home, and R.C. Willey totally fits the bill,” said Davis, who’s also starred on Broadway in the musical “Chicago” and appeared on many TV talk and variety shows. “I had so much fun with these commercials. I felt like I was able to bring my own voice to the spots, and I hope that works well.”
June 18,
2008 by in UnCategorized
By Home Furnishings Business in Upholstery on June 2008
Upholstery manufacturer England will close its plant in Morristown, Tenn., on Friday, according to a report in the Knoxville (Tenn.) News Sentinel.
The move will eliminate 38 jobs, according to the Tennessee Department of Labor and Workforce Development, which issued notice of the shutdown on Tuesday.
England also has a manufacturing operations in New Tazewell, where the La-Z-Boy company is based. where it also operates furniture manufacturing operations.
June 18,
2008 by in UnCategorized
By Home Furnishings Business in Las Vegas on June 2008
The Sustainable Furniture Council is seeking sponsors to help underwrite the seminar series it will present in partnership with World Market Center at next month’s Las Vegas Market, July 28-August 1. Sessions will take place Monday, Tuesday, and Wednesday of Market in a seminar lounge next to the Living Green Pavilion on the fifth floor of World Market Center’s Building C.
The morning “Greening Your Store” series focuses on three different aspects of achieving sustainability in a retail environment with a concentration on product, marketing and operations. The afternoon “Green New World” series focuses on options in upholstery, interior design and e-marketing. Additionally, there will be a printed floor map and seminar schedule handed out to all visitors to the fifth floor.
Available sponsorships are available, with costs and benefits outlined below:
• “Greening Your Store” and “Green New World” sponsorships of $1,500 include benefits of co-introduction at each of three presentations; signage and brochure distribution at all presentation; inclusion of logo in pre-market e-blasts from industry publications; and mention in all press releases.
• Presentation participation sponsorships of $500 include a featured 15-minute speaking engagement in one of the six seminars (limited availability); and signage and brochure distribution at that presentation. Content must be vetted by SFC in advance to ensure legitimate educational content.
• Floor map sponsorships of $2,500 provide inclusion of sponsor’s logo on all 25,000 maps to be distributed at market, and in 15,000 pre-market e-mail distribution of the map.
• $5,000 sponsorships of the total event series include hosting of SFC general meeting; co-introduction of all six presentations; a 15-minute presentation under most appropriate topic heading (content must be approved); signage and brochure distribution at all presentations; dedicated e-blast to all SFC members and prospects (content must be approved); logo/ad space on 25,000 maps distributed at market; logo included in pre-market e-blasts from industry publications; and mention in all press releases
Decisions are needed by July 7, 2008 in order to make pre-market publications. Interested parties should contact SFC Executive Director Susan Inglis/SFC at 919.967.1137.