November 15,
2007 by in UnCategorized 
By Home Furnishings Business in on November 2007
Residents of Katonah, the village outside New York City where Martha Stewart has a home, have agreed to ceasing opposing Stewart’s use of the town’s name on a line of furniture—provided that Katonah not be branded on paint, lamps or hardware, according to an announcement earlier this week.
In a joint statement, Martha Stewart Living Omnimedia and the Katonah Village Improvement Society said opponents have agreed not to challenge Martha Stewart’s application to trademark the name “Katonah” on furniture that has already been introduced. Stewart has a home on 153 acres in the town that is about 40 miles from Manhattan. Some local businesses—including Katonah Paint and Hardware--had objected to the trademark bid, saying they feared it would keep them from continuing to use the town’s name.
November 14,
2007 by in UnCategorized
By Home Furnishings Business in on November 2007
Chromcraft Revington Inc., West Lafayette, Ind., reported sales for the three and nine months ended September 29 of $28.4 million and $95 million, respectively, representing respective decreases of 20 percent and 22 percent from the same periods last year.
The company reported a net loss of $2.1 million for the third quarter, and $6.6 million for the first nine months of 2007. That compares to prior-year numbers of a $4.5 million quarterly loss, and a $2.7 million nine-month loss.
Residential furniture shipments in 2007 were lower due to a weak retail environment, competitive pressure from imports and the impact of restructuring the company. Commercial furniture sales were higher for the third quarter and first nine months of 2007 compared to 2006 primarily due to an increase in seating product shipments.
The third-quarter 2007 loss was primarily due to the lower sales volume, an unfavorable product sales mix, price discounting, a non-cash charge for inventory write-downs, severance and other business transition related costs. In addition, the lower sales volume resulted in a reduced domestic production level, which unfavorably impacted fixed cost absorption and manufacturing operations.
The company recorded a non-cash charge for inventory write-downs of $.7 million pre-tax to reflect anticipated net realizable value on disposition in the third quarter. Nine-month results include a non-cash pre-tax charges for inventory write-downs of $3.1 million and for asset impairments of $1.1 million.
As previously reported, the Chromcraft Revington is transforming its business model, which it anticipates will allow it to be more competitive in the global furniture industry. The company continues to reduce its reliance on U.S. manufacturing by shifting its business toward use of the global supply chain, progressively outsourcing existing furniture lines and developing new products based on an outsourced model. The company also is consolidating and transitioning its U.S.-based operations to built-to-order customization and distribution activities. At the same time, the Company is changing its organization from autonomous operating divisions to a unified functional organization and transforming its management structure and staffing to support the new business model.
In 2007, the Company consolidated its residential sales, product development and marketing functions, combined its product showrooms and launched new products under a CR Home banner using extensive consumer research. Supply chain, operations and other administrative areas are also transitioning to a centralized management structure.
Chromcraft Revington sells its residential furniture products under the CR Home banner with the Chromcraft, Peters-Revington, Silver Furniture, Cochrane Furniture and Sumter brand names. It sells commercial furniture under the Chromcraft brand name.
November 14,
2007 by in UnCategorized
By Home Furnishings Business in on November 2007
Case goods, occasional and upholstery importer Master Design, Ontario, Calif., has opened a new customer service center at its distribution center in Eupora, Miss.
The state-of-the-art center, under the direction of Laura Halford, will serve the company’s Midwest and East Coast customers. The facility soon will host the Lawson Enterprise Resource Planning information technology system, which will improve the company’s data management and ensure 48-hour turn around of all orders.
Master Design has major showrooms in High Point and Las Vegas.
November 14,
2007 by in UnCategorized
By Home Furnishings Business in Dining Room on November 2007
Legacy Classic Furniture, High Point, announced Wednesday that Karen Knoch has joined the company as vice president of merchandising for Legacy Kids and Everyday Dining. She reports to Lee Boone, president.
Most recently, Knoch worked with Magnussen Home, where she was merchandise manager for occasional, accents and home entertainment. She has also held merchandising positions with several major furniture retailers including City, BHFC, Levitz and the Home Company.
“Karen brings a diverse merchandising, retail and product development background to her new position,” said Boone. “We welcome Karen to the Legacy team.”
November 14,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on November 2007
Jordan’s Furniture, Avon, Mass., has received a Technology User of the Year award from the Massachusetts Technology Leadership Council.
According to an announcement from technology provider Cognos, Burlington, Mass., the annual awards recognize the state’s 15 best and brightest technology innovators. Jordan’s, which operates four stores in the Boston area, was selected from more than 180 nominations for its implementation of Cognos’ TM1 business analytics technology.
“It’s an honor to be recognized for our achievements in streamlining internal processes,” said Steve Wholley, director of finance, Jordan’s. “We have reduced our IT department’s time spent on producing custom reports from 75 percent to less than 1 percent.”