Daily News Archive
Brought to you by Home Furnishings Business
May 20,
2008 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on May 2008
Denver-based Furniture Row is opening a new shopping center Friday in Selma, Texas.
The center will house the retailer’s traditional string of stores—Oak Express, Bedroom Expressions, Sofa Mart and Denver Mattress Co.
“The center will bring a unique furniture shopping experience to the area,” said Bill McKendry, marketing director for Furniture Row. “Unlike other furnishings retailers, our centers have four specialty stores at one destination. Each store focuses on a particular category and each store is managed and staffed with people who are extremely knowledgeable about their specific lines. And, best of all, they all guarantee their prices to be the lowest.”
The Furniture Row Cos. make up one of the largest family-owned specialty home furnishings and bedding retailers with more than 330 stores in 30 states. The retailer also owns and is primary sponsor of a NASCAR Sprint Cup team.
May 20,
2008 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on May 2008
Ikea subsidiary Swedwood is celebrating the opening today of its Danville, Va.-based manufacturing facility.
Swedwood is Ikea’s only factory in North America.
The factory employs 175 workers and will produce a variety of lines for Ikea. By the end of 2009, Swedwood is expected to employ 300 people and within 10 to 15 years could expand to 800 employees.
May 20,
2008 by in UnCategorized
By Home Furnishings Business in on May 2008
It’s official: The board of directors for Furniture Brands International includes three directors proposed by Sun Capital.
The board reconvened Tuesday. Because the election of directors was contested, a final reconciliation of the election results by a special inspector.
Ralph Scozzafava, chairman of the board and chief executive officer of Furniture Brands received the highest number of shareholder votes. In addition to Scozzafava, the board of directors is now comprised, in descending order of stockholder votes, of Aubrey Patterson, Bobby Martin, John Jordan, Mickey Holliman, Alan Schwartz, Scott King and Ira Kaplan. The last three were part of the slate proposed by Sun Capital Partners.
Furniture Brands shareholders also approved the company’s incentive plan for 2008, ratified the selection of KPMG as independent public accounting firm for the year, and rejected a shareholder proposal to adopt a resolution to repeal bylaw or bylaw amendments adopted after May 6, 1998, and prior to the election of Schwartz, King and Kaplan.
“We welcome the conclusion of this year’s proxy voting and look forward to continuing to execute Furniture Brands’ strategic plan,” Scozzafava said. “The addition of three new members to our board of directors gives us the chance to gain fresh insights into how we are approaching our business and evaluating new opportunities. I know that we all look forward to working together to bring increased value to all Furniture Brands stockholders.”
May 19,
2008 by in UnCategorized
By Home Furnishings Business in High Point on May 2008
A block of High Point-area hotels featuring discounted rates has been secured for the Fall High Point Market scheduled for Oct. 20–26.
The High Point Market Authority expects the rooms to book quickly and booking early can net substantial room discounts.
Market attendees can book rooms through the High Point Market Web site at highpointmarket.org/hotels and clicking on the request a room button.
Hotels are available for specified dates will appear.
Some restrictions and minimum-night stays apply, and discounted rates will be available until July 31 or until sold out.
Contact Dawn Smith, director of market services, at (800) 874-6492 or (336) 869-1000, ext. 231 for assistance.
May 19,
2008 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on May 2008
Midtown Furniture Superstore and Mattress Center in Madison, N.C., is being recognized by Lane Furniture as the World’s Largest Lane Furniture Gallery.
The retailer recently added to its Lane product presentation by installing a Lane Super Showcase.
Within the 60,000-square-foot store, Lane Furniture has a 22,000 square-foot Super Showcase, housing more than 38 styles of Lane upholstery groups, more than 92 recliners and a good representation of Lane case goods.
To promote the new gallery, Woody Whichard, the retailer’s often-wacky spokesperson, is cleaning up his act and dressing in more conservative attire.
In celebration of the news, Midtown Furniture is giving away five of the impossible-to-find Nintendo Wii game consoles through a drawing to be held May 31.