Daily News Archive
Brought to you by Home Furnishings Business
August 15,
2007 by in UnCategorized 
By Home Furnishings Business in Upholstery on August 2007
A mysterious epidemic of thyroid disease among pet cats in the United States may be linked to exposure to dust shed from flame retardants in household carpeting, furniture, fabrics and pet food, scientists reported in a study scheduled for publication in Wednesday’s online issue of Environmental Science & Technology, a semi-monthly journal from the American Chemical Society.
Janice A. Dye, DVM, Ph.D., at the U. S. Environmental Protection Agency in Research Triangle Park, N.C., and colleagues from there and Indiana University and the University of Georgia, reported evidence linking the disease to exposure to environmental contaminants called polybrominated diphenyl ethers (PBDEs), which the researchers found to be elevated in blood samples of hyperthyroid cats. Their findings were based on analysis of blood samples from 23 pet cats, 11 of which had the disease, termed feline hyperthyroidism (FH). PBDE levels in the hyperthyroid cats were three times as high as those in younger, non-hyperthyroid cats.
Concerns about the possible health effects of PDBEs arose in the late 1990s, and studies have reported that PDBEs cause liver and nerve toxicity in animals. FH is one of the most common and deadly diseases in older cats, and indoor pets are thought to be most at-risk. For starters, cats ingest large amounts of PBDE-laden house dust that the researchers believe comes from consumer household products.
With their meticulous grooming behavior, cats may ingest large amounts of dust that collect on their fur.
“Our results showed that cats are being consistently exposed to PBDEs,” Dye said. “Because they are endocrine-disrupting agents, cats may well be at increased risk for developing thyroid effects.”
The epidemic of hyperthyroidism in cats began almost 30 years ago, at the same time when PBDEs were introduced into household materials as a fire-prevention measure. Although the disease was first discovered in the U.S., it has since been diagnosed in Canada, Australia, Japan and many parts of Europe.
“While the link between hyperthyroidism in cats and their elevated PBDE levels requires additional confirmation, it is clear that house cats may be able to serve as sentinels for indoor exposure to PBDEs for humans who share their houses,” said Linda S. Birnbaum, Ph.D., a co-author of the study.
To see the study, click
here .
The American Chemical Society is a non-profit organization chartered by the U.S. Congress and a global leader in providing access to chemistry-related research through its multiple databases, peer-reviewed journals and scientific conferences. Its main offices are in Washington D.C., and Columbus, Ohio.
August 15,
2007 by in UnCategorized
By Home Furnishings Business in High Point on August 2007
Harvey Dondero is resigning his post as chief executive officer of the Las Vegas Market to run a leading brand with “a global furniture manufacturer,” according to a release issued by the World Market Center.
The release said the furniture manufacturer would make an official announcement next week. Dondero will be joining Paul Maitland International.
Dondero joined World Market Center in October after leaving his post as president and chief executive officer of Broyhill in June 2006. Prior to Broyhill, Dondero was with Universal Furniture, and before that he was at Maitland-Smith. Interestingly, Theodore Alexander was started in 1996 by Paul Maitland-Smith.
Dondero will continue to serve as an adviser to World Market Center under a long-term arrangement and will participate at advisory board meetings as it “continues to complete its total vision of building the world’s largest market and trade complex in Las Vegas, all dedicated to the home furnishings industry,” the release said.
“Harvey brought a tremendous amount of insight to World Market Center as a veteran of the furniture industry,” said Jack Kashani and Sean Samson, WMC managing partners. “His leadership has been invaluable over the past several years as a former tenant of World Market Center, an advisory board member and most recently as our CEO.”
The partners credited Dondero with shepherding the market center’s growth.
“I am privileged to be a part of such a dynamic project that I know will continue to be an important force for the home furnishings industry,” Dondero said. “The developers have demonstrated a remarkable vision and have amassed an incredible team of professionals that will continue to ensure World Market Center’s success in the future. It’s also great to have the opportunity to continue to provide my advice to World Market Center as a special adviser, as this remarkable project continues to evolve. I have truly enjoyed the dynamics involved in running a market and significant real estate enterprise.”
World Market Center has hired an international search company to find a successor for Dondero. In the interim, the executive team of Kashani, Samson, Ron Wackrow and Michael Brenner, both of The Related Cos., will continue to oversee the growing project.
August 14,
2007 by in UnCategorized
By Home Furnishings Business in Case Goods on August 2007
La-Z-Boy, Monroe, Mich., reported a 12.6 percent decrease in net sales during its first quarter together with a loss of $8.7 million, or 17 cents per share, including a restructuring charge of 4 cents per share. Net sales totaled $344.4 million during the quarter that ended July 28.
President and CEO Kurt Darrow said the company’s performance during the quarter—which is always La-Z-Boy’s slowest period—“is not indicative of our expectations for the full year.” In addition, Darrow said order rates perked up during the third month of the reporting period, and he reiterated the company’s expectation that sales for the full year will be down 5 percent to 10 percent from last year.
Commenting on the results, Darrow said, “Against the backdrop of ongoing challenging business conditions pervasive throughout the furniture industry, our results reflect a significant drop in volume, which made it difficult to absorb our current fixed costs.”
Same-store written sales across the company’s network of 333 La-Z-Boy Furniture Galleries stores declined 7 percent, including both company-owned and licensed locations. La-Z-Boy’s announcement said its retail group posted an operating loss for the quarter due to significantly lower sales.
“We are making ongoing changes to our retail business model,” Darrow said. “We are removing significant costs through the consolidation of our warehouses and IT systems and are opening additional stores to garner better penetration in each market. However, for our performance to improve to an acceptable range, our current base of stores needs to perform at higher volume levels.”
While the company expects sales for the full year to be down by at least 5 percent, it is projecting that earnings per share will be in the range of 45 cents to 60 cents compared with 38 cents last year. The estimate for this year does not include restructuring charges, proceeds from the sale of discontinued operation or what the earnings statement termed “potential income from any anti-dumping monies.”
August 14,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on August 2007
Denver-based Furniture Row Racing, which has been struggling in its second year in the top series of stock car racing, announced Tuesday that it will bring in a new driver for its #78 Nascar Nextel Cup car.
In a statement, officials at the company, which operates more than 330 furniture stores in 31 states, said veteran driver Kenny Wallace is leaving the team. Furniture Row is one of the only companies in Nextel Cup that owns and operates the race team it sponsors. Wallace, who will remain with the team as a consultant, is mired in 43rd place in the Nextel Cup standings after failing to quality for a dozen of the 22 races that have been run so far this season. He may drive additional races for Furniture Row in the series that continues through October, but Tuesday’s announcement also freed him to drive for another team.
Furniture Row’s announcement signaled that the team wants to bring in an as-yet unnamed driver to gain experience ahead of next year’s Nextel Cup season. Joe Garone, the race team’s manager, said Wallace “has been the perfect driver for us as we have looked to his veteran experience during our first year and a half in the (Nextel) Cup series.”
August 14,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on August 2007
Ethan Allen Interiors Inc. reported today that same-store sales rose slightly in June and that the modest positive trend continued in July. The Danbury, Conn.-based manufacturer and retailer issued the comments in anticipation of investor meetings it will host in coming weeks.
While there are signs of improving business conditions, CEO Farooq Kathwari noted that consumer confidence can be impacted by factors beyond the company’s control.
“We continue to believe that the strong operating performance that we have been able to sustain during what have been very challenging times for our industry are the direct result of several initiatives that we’ve put in place that are focused on providing solutions and service,” Kathwari said. “These initiatives have included the continued repositioning of our retail network; investments in recruiting and training to increase the professionalism of our retail management team; the development of stylish, high-quality products at good value; stronger advertising and marketing programs; and faster delivery of our products to our customers. We believe that our focus on providing service and solutions provides a distinct competitive advantage and an opportunity to grow our business.”
On July 24, Ethan Allen’s Board of Directors increased the authorization to repurchase shares of the company’s common stock to 2.5 million shares and increased the regular quarterly cash dividend by 10 percent to $0.22. From July 1 through August 14 the company has repurchased 1,075,800 shares and has a remaining authorization to purchase 2.1 million shares.
Ethan Allen sells a full range of furniture products and decorative accessories through a network of 313 design centers in the United States and abroad, of which 159 are company-owned. Ethan Allen has 9 manufacturing facilities in the United States.