Daily News Archive
Brought to you by Home Furnishings Business
May 12,
2008 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on May 2008
La-Z-Boy, Monroe, Mich., honored top-performing Comfort Studio and In-Store Gallery retailers at an awards ceremony held during the recent High Point Furniture Market. Regional single-store owners with top sales growth during calendar year 2007 were recognized, along with the top three North American multi-store operations and the top retail partner with the largest increase in unit sales.
Honored for outstanding performance based on growth during 2007 were:
• Northeast Region, Dunham’s Furniture in Wellsboro, Pa., owned by Robert Dunham.
• Midwest Region, Langlois Furniture in Muskegon, Mich., owned by Dan Langlois.
• Southeast Region, Furniture Expressions in Auburn, Ala., owned by Martin, Shirley and Barry Dorman.
• Mid-South Region, Kemper Furniture in Hazard, Ky., owned by Harry Kemper, Rhonda Pennington, Greg Kemper and Johnny Kemper.
• West Region, Engles Furniture in North Bend, Ore., owned by Eric Engles.
• Canadian Region, Alford’s Furniture in Regina, Saskatchewan, owned by Verna Alford.
• Multi-Store winners were J. R. Rahey Stores Ltd., in Sydney Mines, Nova Scotia, owned by Paul Rahey and Riad Kassouf; and Decker Furniture Store in Tiffin, Ohio, owned by Fred Decker.
• Multi-Store and Largest Increase in Unit Sales honors went to Kemper Home Furnishings in London, Ky., owned by Harold W. Kemper Jr., Debra Kemper, Kenny Kemper, Becca Jones and Keisha Barger.
“We are proud to recognize our partners with dedicated La-Z-Boy retail space who have excelled at bringing La-Z-Boy comfort to their market and increased overall sales for 2007,” said Steve Matlock, senior vice president of sales and marketing for La-Z-Boy. “The partnerships we’ve formed with these top dealers are invaluable and we look forward to even more success at the retail level as we continue our transition to the Comfort Studios format.”
The La-Z-Boy Comfort Studios and In-Store Galleries network has a total of 354 locations located throughout North America, including 186 Comfort Studios and 168 In-Store Galleries stores.
May 12,
2008 by in UnCategorized
By Home Furnishings Business in Las Vegas on May 2008
The World Market Center announced plans Monday to expand its Las Vegas Design Center by devoting an entire floor in Building C to the hospitality industry.
Officials said 15 percent of World Market Center exhibitors are already selling to hospitality channels, and Hospitality at Las Vegas Design Center is being designed to serve as a year-round marketplace when it opens in 2009.
“Las Vegas represents the recognized epicenter of the hospitality industry. We’re excited to announce our plans for this extension of the Las Vegas Design Center to include a dedicated area for permanent hospitality showrooms,” said Bob Maricich, president and CEO, World Market Center, Las Vegas. “Hospitality at Las Vegas Design Center will serve as an invaluable year-round resource for developers, architects, designers, specifiers and all decision makers in the hospitality purchasing process. Additionally, Las Vegas, with its unprecedented culinary experiences and world-class hotels has become an international destination for professionals in the industry.”
He said the new hospitality area will provide opportunities for other tenants seeking to grow into new markets.
Monday’s announcement stated that Hospitality at Las Vegas Design Center will offer professionals a one-stop resource where they will be able to meet vendors, see complete product lines and bring their clients to approve models in an easy-to-access destination that will be open throughout the year. More than 150,000 square feet of showroom space is planned, as well as state-of-the-art features that specifically address the needs of designers, including model viewing and presentation rooms, a comprehensive resource center and library, a fully equipped business center and other amenities.
The announcement quoted several hospitality industry professionals saying the facility will be an asset in working with clients and improve efficiency.
To celebrate its expansion, the World Market Center and 100 of its tenants catering to the hospitality industry will hold a launch party Thursday, May 15, featuring the band Big Bad Voodoo Daddy. The event in the atrium of Building B will begin with a cocktail event at 4 p.m., with Big Bad Bad Voodoo Daddy’s performance at 7:30 p.m. Nearly 70 showrooms will be open May 15–17.
May 11,
2008 by in UnCategorized
By Home Furnishings Business in on May 2008
• Total March exports of $148.5 billion and imports of $206.7 billion resulted in a goods and services deficit of $58.2 billion, according to the U.S. Department of Commerce. March exports were $2.6 billion less than February exports and March imports were $6.1 billion less than February imports.
March furniture and bedding imports were $2.4 billion, down from $2.7 billion in February. Exports of furniture and bedding in March increased to $446 million from $427 million in February.
• In March, both overall import and export prices jumped, up 2.8 percent for imports and 1.5 percent for exports, according to the U.S. Bureau of Labor Statistics (BLS). The increase in import prices follows a 0.2 percent and 1.5 percent increase in February and January, respectively.
Overall export prices in February and January were up 1.1 percent and 1.2 percent, respectively.
BLS attributed the import price increase primarily to a 9.1 percent increase in petroleum prices. The March increase in export prices, the largest one-month increase since the price index was first published in December 1988, was driven by higher agricultural prices, up 4.1 percent in March and 33.4 percent over the past 12 months.
On the home furnishings manufacturing front, import prices grew 4.5 percent in March, compared with year-earlier figures and were up 1.7 percent from February.
The export price index for home furnishings decreased 0.3 percent from February to March and was up 3.0 percent compared with March of 2007.
• Initial unemployment claims, on a seasonally adjusted basis, decreased by 18,000 claims, or 4.7 percent, for the week ended May 3, compared with the week before. Measured against year-earlier data, unemployment claims increased 22.9 percent. The U.S. Department of Labor tracks unemployment claims.
Weekly Review of Economic News (WREN) reports are summaries of recently-released economic statistical data that affect the home furnishings industry. WREN reports are compiled by
HFB Research Editor Janice Chamberlain.
May 11,
2008 by in UnCategorized
By Home Furnishings Business in on May 2008
The American Home Furnishings Alliance (AHFA) will hold its Annual Marketing Meeting and Public Relations Workshop June 23–25 at the Grand Hyatt Atlanta at Buckhead. The meeting is open to all industry marketing executives, including those from retail, supplier, import and manufacturing companies.
“Today’s business environment is a turbulent sea of change,” said AHFA Vice President Jackie Hirschhaut. “AHFA’s 2008 Marketing Meeting features experts whose insights will throw a lifeline to struggling marketing efforts.”
A highlight of the meeting will be the presentation of recently completed consumer research designed to update a benchmark consumer study that launched AHFA’s public relations initiative in 1998.
“Consumer Outlook 2008: Major Trends in Shopping, Buying and Decorating” will be presented by Dr. Jennifer Scott, managing director, insights and research, for Ogilvy Public Relations Worldwide. She will spotlight results of three national online focus groups conducted for AHFA in February.
Providing additional insights into current consumer behavior will be Charles Kennedy, senior vice president of social trends for DYG Inc., Danbury, Conn. His presentation, “Marketing to a Super-Saturated Society,” will illuminate key shifts in the attitudes and actions of furniture buyers in 2008 and will be followed by an interactive group exercise.
Additional presentations include:
• “Bringing a Brand to Life: The Jack Daniels Story,” presented by Ted Simmons, former chairman and executive creative director of Arnold Worldwide-St. Louis and currently senior global brand consultant for the Boston-based ad agency. From 1985 to 2001, Simmons created the print and television advertising that helped grow the Jack Daniels brand to the status of an American icon.
• “Rebranding Case Study: MaggieMoo’s,” presented by Mickey Nall, managing director of Ogilvy Public Relations Worldwide, Atlanta. MaggieMoo’s is a national retail chain selling super-premium ice creams, smoothies, ice cream cupcakes and custom ice cream cakes. With more than 200 “treateries” nationwide, the brand has received prestigious National Ice Cream Retailers Association’s awards for eight years running.
• “Hispanic Marketing,” presented by Jackie Bird, president of New York-based Winglatino, one of the fastest growing Latino agencies. Hispanic high-net-worth individuals form one of the most dynamic, fast-growing and lucrative niches in the U.S. marketplace and, Bird contends, with more than 14 million Latinos eligible to vote, Hispanics will elect the next President of the United States.
• “Digital Marketing Trends and Opportunities,” presented by Diane Myer, Matt Roth and Juan Pablo Gnecco, all of studiocom.com in Atlanta. This two-hour session will provide a complete picture of the world of social networking and consumer-generated content plus viral and mobile marketing. Attendees are encouraged to bring their laptops to participate in hands-on demonstration of blogs, posting videos, visiting a virtual world and more.
Following the conclusion of the formal marketing program, attendees will have the option of participating in a “retail safari” to top retail home furnishings locations throughout Atlanta on the afternoon of June 25.
Preceding the marketing meeting is a half day public relations workshop, 1-5 p.m. on June 23. The workshop will feature discussions with journalists, tips on maximizing publicity and more.
Those planning to attend should book their hotel accommodations as soon as possible by calling the Grand Hyatt directly at (800) 233-1234 or (404) 365-8100. The cutoff date for room reservations at the group rate is June 2.
Registration fee for participants from AHFA member companies is $650, or $625 for two or more individuals from the same company. Registration for individuals from non-member companies is $850.
May 11,
2008 by in UnCategorized
By Home Furnishings Business in on May 2008
Furniture stocks are getting more interest from Claymore Advisors, according to
MFFAIS (Mutual Fund Facts About Individual Stocks).
Last week, Claymore Advisors, part of the private investment company Claymore Securities, Lisle, Ill., upped its holdings in Furniture Brands International (FBI) by a little more than 20 percent, adding an additional 17,764 shares of FBI, bringing their current holdings to 104,592 shares as shown by filings made public on May 9.
Claymore also added Hooker’s stock to its portfolio, buying 2,760 shares.
According to its Web site, Claymore Securities Inc. entities have provided supervision, management, servicing or distribution on approximately $18.4 billion in assets as of April 30.