July 12,
2007 by in UnCategorized 
By Home Furnishings Business in on July 2007
The Deloitte Research Leading Index of Consumer Spending rose slightly this month, but continues to forecast a weak spending outlook due to continued falling home prices and rising gasoline prices.
“While spending was strong through the end of 2006 and into the first quarter of 2007, real spending has clearly slowed in recent months and will not continue to boost top line GDP growth for some time going forward,” said Carl Steidtmann, chief economist with Deloitte Services, LP’s Deloitte Research and author of the monthly index.
The index, including four components—tax burden, initial unemployment claims, real wages and real home prices—rose slightly to 2.86 percent, from a downwardly revised gain of 2.75 percent a month ago.
“With shoppers becoming hesitant about spending, it would be wise for retailers to be sure the customer experience is top notch,” said Stacy Janiak, Deloitte’s U.S. retail leader. “This means focusing on service levels and in- stock positions of the right products, so that browsers can be converted into buyers.”
July 11,
2007 by in UnCategorized
By Home Furnishings Business in Las Vegas on July 2007
Los Angeles-based PTM Images, a provider of large-scale framed art and wall décor, announced Tuesday that it has leased permanent showroom space at the World Market Center in time for the upcoming Las Vegas Market, which begins July 30.
PTM is putting the finishing touches on a 2,800-square-foot showroom in Building B (568). “The Las Vegas Market provides our national accounts and international customers with the most convenient and accessible location in the world to view our collection of unique products,” said Jonathan Bass, president of PTM Images.
According to its Web site, PTM was founded in 1995 and became the officially licensed golf art and collectible company of the PGA Tour. It then became the officially licensed art company for entertainment icons such as James Dean and Marilyn Monroe. It added framed art to its product line in 2003 at the request of a national retailer, and its art line has grown to become a substantial part of PTM’s business.
July 11,
2007 by in UnCategorized
By Home Furnishings Business in on July 2007
The deadline for submissions for the annual ASFD 2007 Pinnacle Awards is quickly approaching. Entries are due Aug. 1.
An entry form, along with instructions, can be be downloaded at
www.asfdpinnacle.com/downloads. Or for a Pinnacle poster and entry form by mail, contact Christine Evans via e-mail at info@asfd.com or by phone at (910) 576-1273 or (910) 576-1573.
“ASFD is extremely proud and excited about the continued growth of the Pinnacle awards, and the enthusiasm they have generated for the importance of design within our industry,” said Steve Hodges, ASFD 2007 Pinnacle chairman. “We look forward to an outstanding awards ceremony during the Fall High Point Market and would at this time like to remind everyone of the earlier date this year, as well as the earlier deadline for Pinnacle entries.”
The awards banquet will be held opening night of the High Point Market, Oct. 1, in the IHFC ballroom.
Furniture/Today is the major underwriter of the 2007 ASFD Pinnacles, and Ray Allegrezza, editor in chief, will participate as emcee the banquet.
The 2007 Pinnacle Award Sponsors are the Appalachian Hardwood Manufacturers, Elmo Leather,
Furniture Style, Hafele America Co., Hickory Springs Mfg., High Point Market Authority,
Home Furnishings Business,
Home Lighting & Accessories, International Home Furnishings Center, Leggett & Platt, Merchandise Mart Properties, SHOWPLACE, Weyerhaeuser and World Market Center Las Vegas.
The judging will take place Aug. 7 in High Point. Judges include: Dr. Richard Bennington, director of the Home Furnishings Program, High Point University; Leslie Fishbein, president, Kacey Fine Furniture, Denver; Ellen Gefen, co-owner, Gefen Productions and host of
Industry Update Home Fashion Report; Francel Goude, founder, RFG Global Design Group; Jackie Hirschhaut, vice president, public relations & marketing, American Home Furnishings Alliance; Dr. Thelma Lazo-Flores, chair, Furniture Design Department, Savannah College of Art & Design; Sheila Long O’Mara, editor in chief,
Home Furnishings Business; Dan Minor, general manager, Boyles Furniture, Conover, N.C.; Julie Smith, editor,
Furniture Style,
Home Fashion Forecast and
The Retail Experience; Max Shangle, chair, Furniture Design Department, Kendall College of Art & Design; Steve Walker, Furniture Manufacturing & Management Center, NC State University and Rhonda Wolf, assistant vice president of merchandising, Havertys Furniture, Atlanta.
July 11,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on July 2007
Costco reported net sales for June of $6.35 billion, a 10 percent increase from $5.78 billion in the same five-week period last year. The month ended July 8.
For the first 45 weeks of its reporting period ended July 8, the retailer reported net sales of $54.31 billion, an increase of 9 percent from $49.88 billion during the similar 45-week period of the prior year. The fiscal 2007 year-to-date net sales results include the $452 million adjustment to the sales returns reserve previously reported in the fiscal 2007 second and third quarter results.
The company said its strongest regions in the U.S. were the Midwest, Northeast and Northwest. Internationally, the hot spots were Korea and Taiwan.
Costco did report softer sales in domestics and home furnishings, and stronger sales in televisions, cameras, sporting goods and small appliances.
July 11,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on July 2007
Ikea is cutting 300 managerial positions in its stores in Britain in an effort to reorganize the way it serves customers, said the retailer.
In a statement, the company said “Our new store structure will have fewer layers of management providing an opportunity for co-workers to take on more responsibility. This means out of our 9,000 co-workers around 300 mangers will be affected.”
The retailer employs 9,000 people in Britain, more than 11,000 in the U.S. and 100,000 worldwide.
Ikea said affected employees will be given the opportunity to apply for positions within new stores.
Meanwhile, in the U.S. Ikea is looking to hire 350 people to work in its Orlando, Fla., store set to open this fall. Positions include home furnishings sales, customer service, interior design, safety and security, cashiers, maintenance, goods flow, receiving, warehouse and stock replenishment.