Daily News Archive
Brought to you by Home Furnishings Business
July 25,
2007 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on July 2007
More than 1,000 furniture sales associates have been certified as “Furniture Fundamentals Specialists” over the past nine months after completing an online training program by The Furniture Training Company, North Logan, Utah.
The training program is being used by more than 100 furniture retailers, including Wickes Furniture, Wheeling, Ill.
“We chose the Furniture Training Company’s online Fundamentals of Furniture Product Knowledge program because it would instantly allow us to provide consistent and comprehensive coursework to each store location,” said Glen Barklow, director of training, Wickes. “The combination of the self-paced online format, the review activities, and the showroom exercises provide a total learning experience that our sales consultants will be able apply directly on the sales floor.”
The online training course includes 36 self-paced, interactive lessons with multimedia presentations, quizzes, tests, and in-store learning activities. The training program lessons cover the following areas: case goods, upholstered furniture, beds, bedding, fibers, fabric, leather furniture and rugs. The program includes real-time status reports that let owners and managers know each employee’s progress toward certification.
Retailers using the program include RoomStore, Kacey’s Fine Furniture, Cort, Dearden’s and several Ashley HomeStore operators.
July 25,
2007 by in UnCategorized
By Home Furnishings Business in Bedding on July 2007
Minneapolis-based Select Comfort, the nation’s leading bed retailer with 460 stores, announced Wednesday that net sales in its second quarter declined 5 percent to $179 million. Net income totaled $2.9 million, down from $10.7 million a year earlier.
Chairman and CEO Bill McLaughlin said the results matched what the company had predicted in mid-June. He said sales trends began improving in the second quarter, and that has carried over into the company’s third quarter. The company has opened 48 new stores over the past 12 months, but those sales gains were offset by a 14 percent decline in same-store sales.
The company reiterated its full-year 2007 outlook, saying net sales would be between $840 million and $860 million.
July 24,
2007 by in UnCategorized
By Home Furnishings Business in Case Goods on July 2007
Scott Bishop has joined Hamilton Spill Furniture Group as vice president of sales for the Eastern United States.
Prior to joining Hamilton Spill, Bishop served as vice president of sales at Lexington Home Brands. His furniture sales experience includes time at Lane Furniture, Drexel Heritage and Broyhill Furniture.
In his new role, Bishop reports to Rick Verjee, president.
July 24,
2007 by in UnCategorized
By Home Furnishings Business in Bedding on July 2007
Kingsdown Inc., Mebane, N.C., has named Joe Paviglianti as president and chief operating officer of its newly formed retail division. Paviglianti, previously president of Seattle-based Sleep Country USA, will head up the development and roll-out of “Sleep to Live” stores, a concept centered on Kingsdown’s BodyDiagnostic System and assortment.
“The importance of sleep and its connection to health and wellness is a fast growing consumer market”, Paviglianti said. “With the BodyDiagnostic line by Kingsdown, ‘Sleep to Live’ stores will be able to provide a unique, scientific and proven way to select the right mattress for its customers.”
Paviglianti will report to Pat Flippin, Kingsdown president and chief operating officer.
“Joe’s experience and leadership in retail, most recently with the very successful Sleep Country USA, will be a tremendous asset to Kingsdown as we begin the creation of the Sleep to Live retail concept,” Flippin said.
The initial stores are targeted for the Raleigh/Durham, N.C., market, but may be quickly expanded to other markets.
“It is not our intention to enter into markets where we presently have retail partners,” Flippin said. “However, there are many areas of the country which do not have a dominant retail outlet that can properly present the BodyDiagnostic concept.”
Chairman and Chief Executive Officer Eric Hinshaw said that the entry into retailing is a natural evolution for Kingsdown.
“We have been very successful with retailers who understand the power of the BodyDiagnostic system,” he said. “Being able to create our own environment will not only provide a research model for further advancements in our diagnostic system, but will also allow us to properly present our commitment to better sleep in areas of the country we are not presently serving.”
Paviglianti will be responsible for overall operations and development of the Sleep to Live store concept.
“We will make the environment extremely customer friendly, with emphasis by the team members on providing an outstanding service experience,” he said. “Through the use of the BodyDiagnostic profiling system, we have the ability to change the way the customer experiences the selection and purchase of their mattress. While effective promotional efforts are always an element of successful retail, we have the ability to step above the ‘price-price-price’ message, and legitimately offer the customer the right environment for better sleep and, as a result, a better life.”
July 24,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on July 2007
Ethan Allen Chairman and CEO Farooq Kathwari said he is pleased with the company’s performance as earnings per share of 65 cents in the fourth quarter came within a penny of matching last year’s numbers.
Net delivered sales for the quarter that ended June 30 totaled $258.5 million, down from $272 million a year earlier. Net delivered sales for the company’s retail division increased 1.7 percent to $187.5 million, while wholesale sales declined 8.5 percent to $162.8 million. Comparable Ethan Allen design center delivered sales decreased 5.9 percent.
For the fiscal year, net delivered sales of $1.005 billion were down from $1.066 billion in the previous year. Earnings per share totaled $2.15, down from $2.51 the previous year.
“We are pleased with our results for the fourth quarter and fiscal year,” Kathwari said, according to a statement. “Despite a challenging economic environment and tough period-over-period comparisons as a result of a 12 percent increase in sales in both the prior-year quarter and year, our sales held up and gross margins improved.”
He said the results reflect a number of initiatives the company has embarked on in recent years, including, “the continued repositioning of our retail network; investments in recruiting and training efforts to increase the professionalism of our retail management team; the development of stylish, high-quality products at good value; improved advertising and marketing programs; and faster delivery of our products to our customers. All of these initiatives have a common objective -- a renewed focus on providing solutions and service. As a result, we believe that such efforts provide us a distinct competitive advantage and an opportunity to grow our business.”
Ethan Allen’s network includes 313 design centers, including 158 that are company owned. In a separate announcement Tuesday, the company said it set its regular quarterly cash dividend at 22 cents per share, which is an increase of 10 percent. The company’s board also approved a plan to repurchase up to 2.5 million shares of its common stock.