Daily News Archive
Brought to you by Home Furnishings Business
July 15,
2007 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on July 2007
Ikea has started recruiting workers for its second store in Florida and its 33rd in the United States. About 350 workers will be hired for the new store in Orlando when it opens this fall.
Part of a continuing national expansion, the announcement of the Orlando Ikea store comes on the heels of the Swedish company’s announcement last month that it has opened a 685,000-square-foot distribution center on 115 acres in Savannah, Ga. The facility, which eventually will more than double in size to 1.7 million square feet, will supply the growing number of Ikea stores in the Southeast. Stores in the region already include Atlanta and three locations in Texas. Future locations include stores set to open in both Sunrise, Fla., and Orlando, Fla., this fall, and stores expected to open in 2009 in Charlotte, N.C., and Tampa, Fla.
The Orlando store occupies 22 acres across the street from the Mall at Millenia. The company operates 255 stores in 35 countries, including 30 in the United States and 11 in Canada. It has been named by several U.S. magazines as one of the best employers in retail by providing benefits that include full medical/dental insurance for even part-time workers who work 20 hours or more per week.
July 12,
2007 by in UnCategorized
By Home Furnishings Business in Leather Upholstery on July 2007
Natuzzi, Italy’s largest furniture maker, announced Friday that Ernesto Greco has resigned as CEO just over a year after he joined the company in June 2006. Greco, who cited personal and professional reasons for his departure, will continue to serve on the board of directors as outside director, according to a company announcement Friday.
Greco, who was previously CFO of luxury goods maker Bulgari, will remain in place through September 30 to ensure operational continuity. Chairman Pasquale Natuzzi will be proposed as CEO at the next meeting of the company’s board, which is scheduled for the beginning of September.
Natuzzi said, “I am sorry for Ernesto’s decision. (He is a) very responsible professional with proven ability and experience who, notwithstanding his short (stay), started new projects that will surely bring good results. At the same time, I am pleased he will continue to give his valuable contribution to the group as a member of the board.”
Hurt by a tough business environment, particularly in the United States, Natuzzi reported a 18.3 percent decline in its first-quarter sales in May. Sales in the Americas dropped 27.2 percent during the period.
July 12,
2007 by in UnCategorized
By Home Furnishings Business in Bedding on July 2007
Rockaway Bedding, Randolph, N.J., has been acquired by the 450-store Sleepy’s chain, Bethpage, N.Y. which plans to re-open 134 locations as part of a deal that was approved by a New Jersey bankruptcy court judge Wednesday, according to a press release and news reports. The announcement was made by Hudson Capital Partners, which teamed with Sleepy’s in a joint venture for the purchase.
By acquiring its long-time Northeast competitor, Sleepy’s will build its presence in New Jersey and additional states in the Mid-Atlantic region. Press reports put the purchase price at $12 million, but said the final figure could be adjusted based on inventory levels. In its announcement, Hudson Capital announced that liquidation sales will begin today at 64 Rockaway stores that will be closed following the sale five-week sale. “We are liquidating $20 million worth of merchandise from well-known bed furniture brands said,” Jim Schaye, president and CEO of Hudson Capital, Newton, Mass.. “This is a great opportunity for consumers.”
Rockaway, which operated more than 180 stores in seven states, filed for bankruptcy in April, saying it owed unsecured creditors about $12.7 million.
July 12,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on July 2007
U.S. retail sales fell 0.9 percent in June, representing the largest decline since August 2005, according to the government.
Excluding automobile sales, retail sales for the month dropped 0.4 percent, the largest decline since September. Take out gasoline and sales fell 0.3 percent, the biggest decline in three years.
Furniture sales fell 3 percent, the largest drop in four years, and sales of electronics and appliances fell 1.4 percent.
The bright spots for retail came from health and personal care stores with a 1.2 percent increase; food and beverage stores, 0.4 percent increase; sporting goods, music, book and hobby stores, 0.4 percent increase; and general merchandise stores, 0.3 percent increase.
Sales at non-store retailers such as catalogs and online stores rose 1.2 percent.
July 12,
2007 by in UnCategorized
By Home Furnishings Business in Bedding on July 2007
Slumberland of Little Canada, Minn., which operates 110 stores, has improved the performance and availability of its retail systems with a storage area network (SAN) from Compellent of Eden Prairie, Minn., that the retailer has upgraded more than 20 times since 2004. The system has also enabled Slumberland to expand end-user IT services and deploy enterprise-class disaster recovery, according to an announcement issued by Compellent Wednesday. In the past, the retailer supported its retail information technology with servers loaded with the biggest drives available. In 2003, the retail information system was nearing the end of its life, and Slumberland’s IT team selected SAN technology. The initial deployment started on a limited basis, but has grown over time. “The other systems we evaluated came in different models where you had to rip out and replace systems regularly depending on the data growth (which is a) costly and time-consuming task that would have meant downtime for us,” said Seth Mitchell, infrastructure team manager for Slumberland.
The modular SAN allows users to upgrade and expand more easily. The initial deployment was a 1 terabyte SAN that has since grown to more than 25 terabytes. “We even made upgrades with a live system during business hours—a process that has been amazingly seamless for our end-users,” Mitchell said. “The upgrades have fueled performance. For example, we’ve quadrupled the number of users on Exchange and Compellent is still 70 percent faster than our old storage system.”