Daily News Archive
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June 10,
2008 by in UnCategorized 
By Home Furnishings Business in Case Goods on June 2008
Hurt by an industry-wide sales slump, Hooker Furniture, Martinsville, Va., said its first quarter sales declined 8.1 percent to $71 million and net income fell 39.2 percent to $2.6 million.
The company achieved an improvement in gross profit margin of 30 percent—up from 28.6 percent—after reducing sales of heavily discounted items in comparison to the same period a year earlier.
“We’re disappointed that this quarter’s profitability performance is below what we’ve historically and recently achieved at Hooker Furniture,” said Chairman, CEO and President Paul Toms. “These results are driven almost totally by the continuing and significant decline year-over-year in sales in this difficult retail environment. We still believe we have the right business model, and that all the operational initiatives we’re working on are the right ones.”
He said the company is working to stimulate retailer demand and reducing operating costs, without sacrificing service or quality.
He said, “We expect retail conditions to be sluggish for the rest of the year. ... We don’t want to overreact in our cost cutting, because we believe the economic downturn is temporary. We continue to make investments in our business that will pay dividends when demand improves.’’
In releasing its quarterly figures Tuesday, Hooker officials also announced a quarterly cash dividend of 10 cents per share payable on Aug. 29 to shareholders of record on Aug. 15.
June 10,
2008 by in UnCategorized
By Home Furnishings Business in on June 2008
The famed University of Oxford in England is jumping into the licensing game and has hired a North American agent.
The historic university, more than nine centuries old, is considered one of the top universities in the world. The agency, Stone America in East Rutherford, N.J., is responsible for establishing a comprehensive licensing program with initial categories including furniture, textiles, tabletop, home décor, collectibles, publications and fashion.
“Oxford University is a great university and one of the best-known university brands in the world,” said Chris Evans, managing director of Oxford. “Working with Stone America, we look forward to delivering on the potential of Oxford University’s brand.”
Oxford, which has hosted teaching in some form since 1096, includes 39 colleges, seven private halls and a central university function. Institutions and departments at the university including the Bodleian Library; Ashmolean Museum of Art & Archeology; Museum of Natural History; the Pitt Rivers Museum of anthropology and archaeology; Museum of the History of Science; and the Botanic Gardens, all of which offer archive material embracing an extensive range of content imagery, artwork and documents.
“We are honored by this appointment from Oxford,” said Robert Stone, president of Stone America Licensing. “The rich archives of history, artwork and designs as well as the iconic Oxford crest, make this a licensing program with extraordinarily rich resources and possibilities. Much more than the typical college logo on a T-shirt, the Oxford licensing program will be about fashion, lifestyle, education, limited edition and more.”
The Laura Ashley brand is among Stone Licensing’s list of clients.
June 10,
2008 by in UnCategorized
By Home Furnishings Business in Las Vegas on June 2008
The Living Green Pavilion is moving onto the World Market Center campus for this summer’s Las Vegas Market, July 28–August 1. The 12,000-square-foot-plus showcase of eco-friendly furnishings will be located next to the buyers lounge on the fifth floor of the new Building C.
The Living Green Pavilion has been popular since its inception, and is attracting more cutting-edge sellers than ever before.
“All products shown inside the Living Green Pavilion have a legitimate eco-story. Some products are made from recycled materials, others from FSC-certified wood or other sustainably harvested materials,” said Sustainable Furniture Council board member and Living Green Pavilion Leasing Manager Jeffrey Hiller. “It’s going to be a truly green showcase.”
Within the pavilion, the green theme spans contemporary, transitional and traditional styles in virtually all segments, including upholstery, case goods, accent furniture, accessories and bedding. The Market also will welcome many first-time exhibitors, such as Harden Furniture, a full-line manufacturer that has been sourcing materials and building furniture in upstate New York for more than a century. Harden was one of the first to be awarded Silver Exemplary Status by the Sustainable Furniture Council earlier this year.
Eco Exotic will showcase unique products from Indonesia, all of which use 100-percent-FSC-certified lumber. Attendees can also look forward to major presentations from design-oriented companies such as Natural Fine Furnishings and Asian Art Imports.
While the Living Green Pavilion was housed at off-site venues during past Markets, the on-campus location this summer will make it much more convenient for buyers to visit Living Green, said Robert Maricich, president and CEO of World Market Center Las Vegas.
“Frankly, green areas are no longer a novelty at trade shows; they are expected by buyers,” Maricich said. “Our leasing and programming teams have worked closely with the Sustainable Furniture Council to make our Living Green Pavilion at the July 2008 Market the most successful and authentic green furniture venue in the world.”
Specific to this Market is the design elements of the Living Green Pavilion that emphasize sustainable materials in the setup of the Pavilion itself. There has also been a concerted effort to secure a wide range of substantial manufacturers with eco-friendly products that have mainstream appeal from a design, availability and pricing standpoint to combat a common perception that these types of products are unusual niche products that carry a price premium.
June 10,
2008 by in UnCategorized
By Home Furnishings Business in Las Vegas on June 2008
In addition to a new, on-campus Living Green Pavilion, World Market Center is expanding its lineup of educational seminars on eco-friendly trends in the home furnishings industry for this summer’s Las Vegas Market, July 28–August 1.
“This Market, our goal was to broaden the scope of the Brave New World Environmental Leadership Series by bringing nationally recognized leaders to Las Vegas to speak to all aspects of the ‘greening’ of the home furnishings industry,” said Margaret Casey, World Market Center’s director of programming, and Sustainable Furniture Countil (SFC) founding member and co-chair of SFC’s education committee.
Highlighted programs include:
• “Selling Green: How to Avoid Green-Washing,” Tuesday, July 29, 4–5 p.m., World Forum, Building B, 16th floor; presented by Jeffrey Hiller, PROaction Marketing Group
• “Why Designers are (and Should Be) at the Helm of Spreading the Sustainable Word,” Wednesday, July 30, 1:10–2:10 p.m., World Forum, Building B, 16th Floor; presented by Carol Baumgartel, ASID, and vice president of sales/marketing for American Clay Enterprises Inc.
• “The Many Scales of Green,” Wednesday, July 30, 2–3 p.m., Building C, 3rd Floor (C-316); presented by Susan Szenasy, editor in chief of
Metropolis Magazine
• One Good Chair International Design Awards, Wednesday, July 30, 3–4 p.m., Building C, 3rd Floor (C-316)
• Brave New World Cocktail Reception, Wednesday, July 30, 4–6 p.m., Building C, 3rd Floor (C-316)
• “Let’s Go Green! But How Green and at What Pace?,” Thursday, July 31, 11 a.m.–noon, Building C, third floor (C-316); presented by Charlotte Matthews, vice president of sustainability, The Related Companies
In addition to the programming presented by the World Market Center Las Vegas in conjunction with the Living Green area, the Sustainable Furniture Council will host a variety of retailer-specific sessions.
For a detailed listing featuring descriptions of the extensive green programming, including the Brave New World Series, visit www.lasvegasmarket.com/events to find the “Interactive events calendar.” The calendar also features social events and exhibitor-sponsored events.
June 10,
2008 by in UnCategorized
By Home Furnishings Business in Markets on June 2008
Saying designers and some high-end buyers were finding too many shuttered showrooms on the High Point Market’s final weekend, event organizers voted Wednesday to shift to a Saturday–Thursday schedule.
Wednesday’s action won’t shift the upcoming Fall Market from its Monday-to-Sunday pattern (Oct. 20 to 26), but the new dates will begin in 2009 when the Spring Market will take place from Saturday, April 25, to Thursday, April 30.
Members of the High Point Market Authority said the new schedule will better accommodate interior designers and higher-end buyers. Those buyers prefer to shop on weekends, but have increasingly been finding some large showrooms closed by Saturday, which has been the sixth day on the official Market calendar.
“We have talked extensively with our customers and each of these constituencies has expressed a preference for shopping the High Point Market over a weekend,” said Market Authority President and CEO Brian Casey. “Moving to a Saturday opening ensures that all customers will find all showrooms open and available to them, and staffed with the key executives and personnel they need to see in order to move business forward.”