Daily News Archive
Brought to you by Home Furnishings Business
August 6,
2007 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on August 2007
A fire last week at the Kathy Ireland Home by Martin production facility in Mexico destroyed one of three buildings on the property.
The impacted building housed finishing and assembly departments along with administrative offices.
“Although this is a serious setback in our Mexican operations, we are lucky that the only consequence we suffered was machinery and furniture,” said Gil Martin, president and owner. “None of the 150 co-workers in that building were injured in the fire and for that we are grateful.”
Martin said all workers in the affected departments will continue to be paid until production is fully restored.
Upon returning from the Las Vegas Furniture Market, Martin visited the facility in Mexico to assess the damage. After careful consideration of all options, Martin decided to consolidate the three production facilities into one large, single building that will more than double its previous capacity. Finishing operations are expected to resume no later than September.
The original production facility consisted of three buildings, one of which was designated for finishing, assembly and administrative offices. Production in the remaining two buildings will continue while the finishing department is rebuilt. Once the new building is complete, the remaining production departments will be moved into the new facility.
The fire did not affect the 250,000-square-foot warehouse facility in San Diego where finished goods from Asia and Mexico are stored and shipped.
August 5,
2007 by in UnCategorized
By Home Furnishings Business in Case Goods on August 2007
Richard Isaak has been named principal financial officer for Furniture Brands International.
Isaak, 39, has been a amember of the company’s finance department since April when he joined Furniture Brands, and has been the company’s controller and chief accounting officer since May. Prior to joining Furniture Brands, Isaak was director of accounting and reporting and then vice president, controller and chief accounting officer for Panera Bread Co. Prior to Panera, Isaak was an auditor with Ernst & Young for nearly 13 years.
Furniture Brands’ chief financial officer, Denise Ramos, resigned in May to become CFO at ITT Corp.
In addition to Isaak’s appointment, the company’s board of directors declared a quarterly dividend of 16 cents per common share payable Aug. 24 to shareholders of record at the close of business on Aug. 13.
August 5,
2007 by in UnCategorized
By Home Furnishings Business in Case Goods on August 2007
Case goods producer Russell & Mackenna has opened its flagship retail store in Maryland.
The company, which specializes in cottage style products, has set up shop in Severna Park, Md.
“Opening our first showroom in the heart of Severna Park is a dream come true,” said Lauren Russell, co-founder and Russell & Mackenna designer. “Now, in addition to our dealers in coastal communities nationwide, we can share our products directly with the friends and neighbors who have supported us along the way.”
In addition to Russell & Mackenna products, the store featuers hand-painted lamp shades by Lisa B. Studios and rugs from Company C.
“We have come such a long way since Lauren and her husband Kevin built their first vanity in their one-car garage,” said Larry Strassner, chief executive officer. “In the last three years, we’ve moved and expanded our manufacturing capabilities twice and watched our sales grow at a rate of mover 100 percent each year. Now with our first showroom we can see our dedication and hard work realized in our community.”
August 5,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on August 2007
Haverty Furniture Cos. reported sales for the month ended July 31 of $67.8 million, a 7.6 percent decline compared with the $73.4 million posted in July 2006. Same store sales dropped 8.6 percent for the month.
Sales for the first seven months of 2007 decreased 9.6 percent to $446 million compared with $493.5 million in 2006. Same store sales for the seven months dropped 11.1 percent.
“July comparable store sales were off by 8.6 percent versus strong results for the same month last year when comps had increased by 8 percent,” said Clarence H. Smith, president and chief executive officer. These results reflect the general weakness in home furnishings in our markets, but do not accurately demonstrate the improving trend from double digit percentage decreases earlier in the year.”
Havertys operates 122 showrooms in 17 states in the South and Midwest.
August 5,
2007 by in UnCategorized
By Home Furnishings Business in Retail Technology on August 2007
Denver-based Furniture Row Cos. has completed an overhaul of its Web site at www.furniturerow.com.
While the site has visually and functionally improved, the primary objective of the redesign was to create a more dynamic and user-friendly experience for visitors. The new site includes enhancements created to facilitate an enduring customer relationship through the Internet.
The site features a Buy of the Week section that showcases discounted items from Sofa Mart, Oak Express, Bedroom Expressions and Furniture Row Linens; the retailer’s weekly ads with true in-store pricing and less; a store locator powered by Google maps with access to addresses, phone numbers and store hours; access to Furniture Row’s Express Money Card application for credit processing; the ability for credit customers to manage accounts online; and a career opportunities section processed through www.careerbuilder.com.
With more than 330 stores in 31 states, Furniture Row remains one of the country’s fastest growing home furnishings and bedding retailers. The company is comprised of five specialty store brands including: Sofa Mart, Oak Express, Bedroom Expressions, and Denver Mattress Co. Denver Mattress operates an e-commerce site that provides shipping to mainland U.S. states. The site may be accessed at www.DenverMattressCompany.com.