Daily News Archive
Brought to you by Home Furnishings Business
November 12,
2007 by in UnCategorized 
By Home Furnishings Business in Bedding on November 2007
Hit by a sharp drop in sales of foam and carpet cushion, Foamex International, Linwood, Pa., reported that sales in its third quarter decreased 7 percent to $291 million. Net income of $0.1 million during the period was down from $7.4 million during the same period last year.
Net income was hurt by restructuring charges of $3.7 million and a $3 million charge due to credit concerns over a significant customer the company did not name. It also incurred a charge of $1.1 million for bankruptcy related litigation costs. The charges were offset by a $1.4 million gain from the sale of the company’s interest in a joint venture in Asia.
President and CEO Jack Johnson said the company reduced net debt by approximately $46 million during the quarter due, in part, to the sale of Foamex Asia and its stand-alone carpet cushion facilities.
“Debt reduction continues to be a primary focus for Foamex,” he said. “We continue to work aggressively to reduce costs and improve operation efficiencies.”
Sales of foam products decreased 22 percent to $107 million and carpet cushion sales decreased 51 percent to $21.5 million. Sales in the company’s automotive products segment increased 33 percent of $130.2 million.
November 12,
2007 by in UnCategorized
By Home Furnishings Business in on November 2007
Design Management Co., a New York-based full-service business management firm specializing in the home furnishings and design industry, has named Victor Pedraz senior vice president of manufacturer services.
Pedraz, a 30-year industry veteran, is responsible for showrooms, distribution, and business development for the company’s US and global clients. He has developed and launched lines and collections for manufacturers in the United States and abroad.
“We are fortunate to have a person of Victor’s caliber and insider information on our team. His global travels aid our industry perspective with real-time information on manufacturers and developers who are shaping the marketplace”, said DMC President Lloyd Princeton.
Design Management Co. also announced the appointment of Cameron Cook as media relations account manager, based in the New York office. Most recently, Cook was recently responsible for marketing and product development at Carolyn Kinder Inc. in Chang An, China.
“Cameron brings a great deal of vitality and knowledge to the firm and will be responsible for business development as well as media relations. We are fortunate to have her,” said Sarah Gallop, senior account manager for Design Management Co.
Design Management Co.’s clients include Merchandise Mart Properties Inc., the San Francisco Mart, and other design centers; and Kravet, Kohler and Ralph Lauren in the manufacturing arena. DMC also provides public relations services to numerous interior design professionals in North America.
November 12,
2007 by in UnCategorized
By Home Furnishings Business in on November 2007
Wood furniture importer Ligo Products, Mokena, Ill., has selected Internet Databases’ FurnishWEB extranet system for automating its sales and customer service functions.
The system makes manufacturers’ critical order and product information available to password-protected users on the Internet.
FurnishWEB will streamline the sales support functions and will improve customer service, said Kenneth Huang, vice president of operations.
“By logging into a secure account from the Ligo Products Web site, sales representatives can explore a wide range of data that until now was only accessible through the corporate office,” he said.
Internet Databases, Blacksburg, Va., is a custom Web development company that has been serving the furniture industry since 1999.
November 11,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on November 2007
If furniture markets in High Point and Las Vegas ever go head-to-head date-wise, it might clean up the trade-show calendar for a lot of retailers. Of course, they’d have to decide which show best meets their needs.
That’s the feedback, anyway, from a retailer panel discussion at the American Home Furnishings Alliance annual meeting last week in Charleston, S.C. Furniture Today Publisher and panel moderator Joe Carroll asked participating furniture store operators that if Las Vegas and High Point had dates close together, would it alter their market attendance.
The panelists were amenable to the idea of hitting fewer markets a year. Right now, for example, Kacey Fine Furniture attends both yearly editions of High Point and Las Vegas.
“We’d probably go to two (major) markets instead of four markets a year,” said Kacey CEO Sam Fishbein.
“Two markets (a year) is the optimal number,” noted Josh Tatelman, vice president of merchandising at Jordan’s Furniture in Avon, Mass.
Star Furniture in Houston also hits both yearly markets in High Point and Las Vegas.
“We’d like to get it to two markets a year,” said Star CEO William Kimbrell.
November 11,
2007 by in UnCategorized
By Home Furnishings Business in Retail Technology on November 2007
Shelley Parlin has been named vice president of professional services for PROFITsystems, Colorado Springs.
She was previously the company’s director of professional services and joined the company in January from Parlin’s Furniture, a 30-year-old retailer in Battle Creek, Mich.
“As a former client over the past decade, Shelley’s intimate knowledge of the benefits we deliver to retailers allowed her to hit the ground running,” said Jeff Niskern, president. “Her professionalism and significant contributions to our team and our clients since January merit the new title, which more accurately reflects her level of responsibility with PROFITsystems.”
Parlin reports to Niskern and is responsible for retail client communications, marketing and education of retail best practices. Parlin also works with the PROFITsystems executive management team to refine and implement the company’s mission and goals.