Daily News Archive
Brought to you by Home Furnishings Business
October 29,
2007 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on October 2007
Charlie Popeck, president of Green Ideas Environmental Building Consultants, will discuss the LEED (Leadership in Energy and Environmental Design) green building rating at the Las Vegas World Market Center’s “First Friday” event for design professionals this Friday.
Popeck’s presentation, “LEED for Homes: The Importance of Building (or Remodeling) Green,” is set for 10-11:30 a.m. at the World View on the 16th Floor of WMC’s Building B. Popeck, who is one of the first people to be accredited by the U.S. Green Building Council as a LEED Professional, will cover the importance of green building, the benefits of building green and different categories of LEED for homes.
According to Popeck, there are many misperceptions of green building, including myths regarding expense and difficulties in the process.
In addition to providing an overview of the green building industry, he will also present a variety of case studies showing a variety of completed projects along with a preview of Echelon Place in Las Vegas. He also plans to give attendees an overview of how they can get themselves LEED accredited.
The December First Friday program, on Dec.7, will feature lifestyle philosopher Alexandra Stoddard.
To RSVP, or for more information on either First Friday seminar, e-mail to LVDC@LVDesignCenter.com or call (702) 599-3093. On-site seminar registrants will be asked to make a $20 donation to Safe Nest.
October 29,
2007 by in UnCategorized
By Home Furnishings Business in Merchandising on October 2007
Hickory Hardware has donated cabinet hardware for the kitchen and bath areas and door hardware for all interior and exterior doors for Nashville (Tenn.) Area Habitat for Humanity homes located in Providence Park, a community of all-Habitat house built by volunteers.
The Nashville-based hardware manufacturer donated hardware to all 38 homes constructed so far in 2007, plus two more to be built in November, one in Dickson County and one on the Meharry Medical College campus in Nashville. Last year, Hickory Hardware also provided hardware for 10 homes built in Providence Park during a one-week blitz called Whirlpool Building Blocks, during which John Westendorf, president of Hickory Hardware, his wife, Cari Lou; and John Pelka, vice president of marketing, served as volunteers.
“Hickory Hardware has been extremely generous to donate the door locks and hardware for all the houses we are building in 2007,” said Nashville Area Habitat for Humanity President and CEO Chris McCarthy. “Since joining the Nashville community, Hickory Hardware has provided hardware for 50 homes, and we are thankful for their support.”
“We are honored to be a part of this community project and to help Habitat for Humanity build new family homes in Nashville,” said Pelka, vice president of marketing, Hickory Hardware. “We hope to continue working with them on future charitable projects.”
October 29,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on October 2007
Rent-to-own retailer Rent-A-Center Inc., Plano, Texas, announced Monday that third-quarter 2007 sales rose 20.9 percent over last year to $709.7 million, an increase largely driven by the acquisition last November of Rent-Way. Earnings of $25.3 million were up 0.4 percent from third-quarter 2006.
Same store revenues for the quarter ended September 30, 2007 decreased 1.8 percent, and the company reduced outstanding debt by around$31.2 million.
“Our third quarter financial results for total revenue and earnings per diluted share were within our guidance range; however, the business environment was very challenging throughout the quarter,” said Mark E. Speese, Rent-A-Center’s chairman and chief executive officer. “Although we believe that our customer continues to face financial challenges, we have been encouraged by the positive results from our operational initiatives, as well as an increase in demand in October. As we prepare to enter 2008, we intend to focus on enhancing store level operations, improving operational efficiencies, and further investing in our financial services business, while maintaining a solid balance sheet.”
The company also announced that it has reached a prospective settlement with the plaintiffs to resolve Terry Walker, et al. v. Rent-A-Center, Inc., et al., a putative class action filed in federal court in Texarkana, Texas, alleging that the company and certain of its current and former officers and directors violated various federal securities laws. Under the terms contemplated, the company anticipates its insurance carrier will pay an aggregate of approximately $3.6 million in cash, which will be distributed to an agreed upon class of claimants who purchased the company’s common stock from April 25, 2001 through Oct. 8, 2001, as well as used to pay costs of notice and settlement administration, and attorneys’ fees and expenses. In connection with the settlement, neither the company nor any officer and director defendants are admitting liability for any securities laws violations.
The terms of the prospective settlement are subject to the parties entering into a definitive settlement agreement and obtaining court approval. While the Rent-A-Center believes that the terms of this prospective settlement are fair, there can be no assurance that the settlement, if completed, will be approved by the court in its present form. Rent-A-Center expects its insurance carrier to fund the prospective settlement and related costs.
October 29,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on October 2007
A fire is still burning this morning at the Wholesale Furniture Mart warehouse in Sanford, Fla., the Orlando Sentinel reported.
According to the report, the building has no sprinkler system since it was constructed before fire codes required such systems.
No one was injured in the fire.
This morning, one section of the warehouse is being allowed to burn because crews cannot safely reach it, said Fire Rescue Spokesman Greg Kirby.
“The building is unsound at that point and there is still a large amount of fuel in there,” Kirby told the Sentinel.
The Sentinel reported that the fire probably began just before 6 p.m. Monday, near a metal fabrication shop in the back of a nearby building, then spread along the roof to the Wholesale Furniture Mart.
October 28,
2007 by in UnCategorized
By Home Furnishings Business in Leather Upholstery on October 2007
Ethan Allen Interiors Inc., Danbury, Conn., announced Friday that its Ethan Allen Operations Inc. subsidiary has purchased a cut-and-sew leather manufacturing facility located in Silao, in the state of Guanajuato, Mexico. The plant has around 40,000 square feet and currently employs 165 people.
“We are pleased to add this plant to our upholstery manufacturing division,” said Farooq Kathwari, chairman and CEO. “We are impressed with the hard-working people and their ability to produce high quality products. Our objective is to grow this plant to support the cut-and-sew product requirements of our upholstery plants in the United States.”
Ethan Allen Interiors Inc. has a retail network of 310 design centers in the United States and abroad, of which 158 are company-owned. The company has nine manufacturing facilities, including two sawmills, in the United States and one in Mexico.