Daily News Archive
Brought to you by Home Furnishings Business
August 16,
2007 by in UnCategorized 
By Home Furnishings Business in Case Goods on August 2007
Andrew Stevens has been named chief financial officer and vice president of accounting, finance and MIS for aspenhome.
“We are pleased to welcome Andy to our team,” said Bill Colgrove, chief executive officer and general manager of Furniture Values International, aspenhome parent company. “His accomplished background in navigating growth companies will be a valuable addition to us as we continue to pioneer new business models to successfully cope with the changing dynamics in the furniture industry. Andy’s understanding of national and global economies and its resulting impact on business will prove invaluable to FVI.”
Stevens began his financial career with KPMG Peat Marwick where he developed a strong business and accounting foundation in the audit practice of this international accounting organization.
“He knows what it is like to work for a changing industry, like furniture, which must continually reinvent itself to survive,” Colegrove said. “We are counting on Andy’s contribution to continue our evolution into one of the major full-line furniture providers in America.”
Stevens has worked with Zila Inc, Amerco, CSK Auto Corp., America West Airlines and KPMG Peat Marwick.
August 16,
2007 by in UnCategorized
By Home Furnishings Business in on August 2007
Interest rates for 30-year fixed-rate mortgages increased slightly on Thursday, as stocks took a wild ride before a late-day rally. Freddie Mac, the federal government-owned corporation that packages and resells home mortgages to investors, reported the 30-year rate at 6.62 percent, up slightly from 6.59 percent a week ago.
According to Freddie Mac, the interest rate for 30-year fixed-rate mortgages stood at 6.22 percent in January, falling to 6.16 percent in March before reaching a 12-month high of 6.70 percent in July. For the first three weeks of August, the 30-year rate averaged 6.63 percent.
Just weeks after surpassing the 14,000 mark, Thursday’s Dow Jones Industrial Average finished at 12,845.78, following a seesaw day that saw the Index vary from12,517.94 to 12,885.85. Thursday’s close was just 15.69 points lower than Wednesday’s.
Analysts blamed credit worries and housing concerns for Thursday’s 300-point fluctuation.
Furnishings stocks, for the most part, fared better than the Dow Jones Industrial Average. Furniture Brands International opened the day at 11.33 before reaching a high of 12.25 and then finished at 12.00. La-Z-Boy ended the day at a high of 9.37, up from opening at 8.65 and Ethan Allen closed at 34.55, up from 32.06 on Wednesday.
JCPenney, one of the largest retailers of home furnishings, opened at 62.27, climbed to 64.87 and then closed at 64.14. Penney held its second-quarter earnings conference call during the day and said earnings were up nearly 2 percent, despite a weakening in home furnishings sales due to falling housing numbers.
Among a large number of furnishing stocks closing up from Wednesday were Masco, Tempur-Pedic, Select Comfort, Stanley Furniture, Leggett & Platt and Sears.
August 15,
2007 by in UnCategorized
By Home Furnishings Business in High Point on August 2007
Home Furnishings Business is accepting photography of product to be showcased at the October High Point Market.
The images will be featured in the October issue of
Home Furnishings Business that will be distributed at the market in addition to the magazine’s regular circulation list.
We accept prints, digital images or transparencies. If sending digital files, please be sure the images are at least 300 dpi and 4x6; otherwise the picture will be too small to use. Pictures must be received by Monday, Aug. 27.
In addition to the pictures, please include a brief product description, showroom location, suggested retail price, and contact information.
Images should be e-mailed to slomara@napco.com or mailed to: Sheila Long O’Mara, editor in chief, at 5 Springsdans Lane, Columbia, S.C., 29229. Questions? E-mail, or call 803.419.9478.
August 15,
2007 by in UnCategorized
By Home Furnishings Business in Home Theater on August 2007
San Diego-based manufacturer, Kathy Ireland Home by Martin will exhibit at the Custom Electronic Design and Instillation Association (CEDIA) Expo in Denver Sept. 5-9.
The show space, 162, will be in the main hall of the Colorado Convention Center.
“We have worked very hard to adapt our home theater furniture to new television technologies and sizes,” said Karl Eulberg, vice president of sales and marketing. “Our new television consoles with Easy Wire Access System have become ideal solutions for the consumer electronics retailer. Smart design and easy installation are incorporated with designs that complement home décor. It is the best of both worlds.”
The company will showcase television consoles with the Easy Wire Access System. The patent-pending system includes a hinged door that lifts up while the television is on the console to provide easy access to wires and electronic components. Units with EWAS also feature convection ventilation and wire raceways. Media hutches that complement the consoles and a console with lift feature will also be on display at the show.
August 15,
2007 by in UnCategorized
By Home Furnishings Business in Markets on August 2007
The Tupelo Furniture Market announced Tuesday it is going “back to our roots” by moving its Spring Market back to February after a one-time experiment of holding the event in January.
On the eve of its Summer Market, set for August 22-26, Tupelo Furniture Market President Bill Cleveland said the Spring Market is now set for Feb.20-24. February markets have been a tradition in Tupelo for two decades, but Cleveland said a survey of buyers last year showed strong support for an earlier market. That prompted a shift in the start date to Jan. 10 earlier this year.
“We did it so our mom-and-pop stores could buy product and have it in their stores in time for tax-selling season,” Cleveland said. “We tried it, but we didn’t get the results we thought we should have, so we’ve gone back to our roots and back to our regular schedule.”
While retailers told an independent research firm they favored earlier dates, Tupelo exhibitors have been speaking even more loudly in favor of a traditional February market, Cleveland said. He said the February dates make it easier for many upholstery manufacturers to show new products in Tupelo and ease conflicts for exhibitors who also show in Las Vegas, which begins its next market on Jan. 28.