Daily News Archive
Brought to you by Home Furnishings Business
June 4,
2008 by in UnCategorized 
By Home Furnishings Business in Bedding on June 2008
Sealy Corp., Archdale, N.C., announced Tuesday the introduction of its Posturepedic PurEmbrace mattress featuring the company’s proprietary Smart Latex. The new latex sleep system aligns with Sealy’s corporate growth strategy, which includes a focus on innovation within the specialty mattress segment. The Sealy Posturepedic PurEmbrace line, inspired by nature’s rubber tree and perfected by Sealy technology, is available exclusively at Macy’s through mid-October.
Macy’s will offer Sealy Posturepedic PurEmbrace in over 300 stores in its top 47 markets in the United States in its new specialty bedding section, which is dedicated to the next generation of specialty sleep systems. Sealy anticipates broader distribution in late 2008. The launch also will include a national marketing campaign rolling out with print, television, out-of-home and online advertising, as well as public relations.”The specialty category has enjoyed significant growth over the past few years,” said Larry Rogers, Sealy president and interim CEO. “By 2011, specialty sleep systems could account for as much as one-third of industry sales. Sealy is leading the charge in latex by launching Sealy Posturepedic PurEmbrace with an initial exclusive distribution strategy through Macy’s department stores nationwide this summer.”
Sealy Posturepedic PurEmbrace contains a patent-pending pressure relief inlay system, using responsive Smart Latex materials that target areas most prone to pressure, including the shoulders, hips and knees. The Smart Latex core is made using Sealy’s patented continuous pour process for a highly consistent quality and feel in each mattress. The latex sleep system is naturally moisture resistant and breathable which encourages ventilation and quick drying for the most comfortable sleep. Each model is engineered around Sealy’s proprietary hypoallergenic Smart Latex, promoting a clean and healthy sleep environment.”
“Sealy sees the new Sealy Posturepedic PurEmbrace sleep system as the springboard to growth and product innovation in the specialty bedding category,” said Cindy Wenger, vice president, marketing, specialty bedding for Sealy. “We have built a latex plant in the United States that allows us to produce our own materials, conduct proprietary research and testing, and further investigate innovative uses for latex. The Sealy Posturepedic PurEmbrace mattress was created using the latest technology to help consumers maximize every minute of sleep they can get.”
The Sealy Posturepedic PurEmbrace line retails from $2,199 to $4,499 for queen sets, and also is available online at www.macys.com
June 4,
2008 by in UnCategorized
By Home Furnishings Business in Merchandising on June 2008
Emerald Home Furnishings, Tacoma, Wash., announced recently that George Ritchie, who played a key role in founding the company, died recently.
A former sales rep, Ritchie bought B & D Sales, the company that later was renamed Emerald, in 1974 and led the company through a period of growth through 1983 when it was sold to his son, Evan Ritchie. In 2002, the company was purchased by its current management team, which is led by President David Beckmann.
According to the company’s announcement, Ritchie died on April 12 at home, and a celebration of his life was held on April 26 in Gig Harber, Wash. The family has requested that memorial donations be made to the Alzheimer’s Association.
Ritchie was born and raised in Edinburgh, Scotland, and had a passion for rugby, soccer and other sports. He is survived by sons Evan Ritchie and Jon Ritchie, six stepchildren and numerous grandchildren and great-grandchildren.
June 4,
2008 by in UnCategorized
By Home Furnishings Business in Merchandising on June 2008
Aldo Uva has been named CEO of Natuzzi, Italy’s largest furniture company, effective in July.
Uva was global vice president, beverages, at Nestle, based at the company’s headquarters in Switzerland. He was in charge of a strategic reorganization of Nestle’s beverage business. Prior to Nestle, he held executive positions with Italian- and U.S.-based companies such as Sara Lee, Parmalat and Indesit. At Parmalat, he worked on a reorganization of the business in North and Central America from 1999 to 2001, and at Sara Lee, he oversaw a reengineering of the company’s coffee business in North America from 2003 to 2005.
Chairman Pasquale Natuzzi, the company’s majority shareholder, said, “I had the opportunity on several occasions to meet Aldo Uva and do appreciate his outstanding human and professional qualities. (He) has managed some projects of strategic importance within very different companies and business contests.”
The company’s previous CEO, Ernesto Greco, served just over a year before resigning for personal and professional reasons.
June 3,
2008 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on June 2008
Williams-Sonoma Home and West Elm were among the only bright spots in Williams-Sonoma’s first quarter. The San Francisco parent of Pottery Barn said net revenues decreased 4.2 percent to $781.8 million in the quarter that ended May 4, and earnings declined to $10.4 percent from $18.6 million a year earlier.
In a news release, Chairman and CEO Howard Lester said West Elm and Williams-Sonoma Home were the only brands generating year-over-year growth in net revenues. Across all brands, same-store sales declined 9 percent, including a 10.5 percent decrease at Pottery Barn. Direct-to-customer sales, including catalogs and the Internet, also declined 4.0 percent to $348.2 million. Only the Internet and catalog sales of West Elm and PBTeen saw an increase during the quarter.
Lester said, “Although the macro-environment in the first quarter of 2008 continued to be very challenging, we aggressively managed the aspects of the business we could control and delivered better-than-expected earnings for the quarter. As we look forward to the balance of the year, we are doing so with a more cautious outlook based on a continuing deterioration in the macroeconomic environment and industry-wide sales declines in the home furnishings category overall.”
With the declines, Williams-Sonoma cut its guidance for the second quarter. The company now expects net revenues to decline 3.7 percent to 1.6 percent. For the fiscal 2008 year, revenues are expected to decrease 5.2 percent to 3.6 percent to a range of between $3.738 billion to $3.804 billion. The company operates 603 stores.
Lester said the company has ongoing cost reduction efforts, including the sale of a corporate plane, which it announced late last month.
June 3,
2008 by in UnCategorized
By Home Furnishings Business in Case Goods on June 2008
Kyle and Adam Tager and their partner Elwin Wright, owners of Brownstreet Furniture, Whitefield, N.H., announced Tuesday their acquisition of case goods manufacturer Vermont Tubbs of Brandon, Vt. The new owners made the purchase for an undisclosed amount through BSF Transition LLC, a wholly owned subsidiary of Brownstreet Furniture.
Vermont Tubbs has been making solid wood furniture in New England for 168 years, and the new owners committed to the same production quality and delivery timelines. Over the next 90 days Vermont Tubb’s existing manufacturing facility will continue production while the Tagers and Wright assess future production plans.
“We want to familiarize ourselves with the (Vermont Tubbs) facility and their production,” said Adam Tager. “We have two different lines and two good production facilities.”
Kyle Tager added that after 90 days, BSF Transition will have a better handle on overall costs with the Brownstreet and Vermont Tubbs plants: “Now is a time when you want to be as lean as possible.”
Denise Ogurkis, vice president of sales and marketing at Vermont Tubbs, has been with the company for more than three years and is working closely with the new owners to facilitate a seamless transition. She will stay on under its new ownership to help continue with the kind of brand outreach that has helped the company maintain long-term relationships with its customers.
“We’re looking for as much continuity as possible, and we’re fortunate to have Denise continue to work with us,” Kyle Tager said.
The Tagers’ partner at Brownstone, Elwin Wright, will oversee production in general for both companies.
“He’s our expert in production and has been doing this for 45 years,” Adam Tager said. “He’ll manage (Vermont Tubbs) production overall, but we’ll retain key foremen and managers.”
Twin brothers Kyle and Adam Tager acquired Mystic Valley Traders in 2003 and acquired majority ownership in Brownstreet Furniture from founding partner Elwin Wright in January 2008. The partners say they’ve had quick and noticeable successes with the implementation of fresh photography, innovative sales tools and popular product enhancements.
“The joining of these great talents couldn’t come at a more opportune time,” said Jon McNeill, former co-owner of Vermont Tubbs. “The Tager brothers have a gift for creating, managing and delivering compelling products. Coupled with Elwin Wright’s production talent, we can all expect to see big things under their combined leadership.”
John McNeill and his partner, Fred Musone, bought Vermont Tubbs in 2003, shifting the company from the brink of bankruptcy to its current level of more $6.5 million in sales scheduled for 2008.
“We will not disturb the processes that are working well and will work with the current team to bring a robust diversity of quality products to the marketplace,” said Kyle Tager. “Our business philosophy is based on a few effective strategies: work hard, value our people, produce with pride, get the details right and sell at a fair price.”
“Vermont Tubbs is a leading company in this industry, with a commitment to crafting authentic, American-made furniture that fits tongue and groove with the way we do business,” said Adam Tager. “We understand the heart and passion that goes into this kind of craftsmanship as well as the historic significance of Vermont Tubbs. We will maintain a status quo throughout the review period, and will strive to keep all the talent that has made this company a giant in the industry.”