Daily News Archive
Brought to you by Home Furnishings Business
July 10,
2007 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on July 2007
Jennifer Convertibles, Woodbury, N.Y., reported a decline in third-quarter sales and profits from the same period a year ago, but the company’s CEO, Harley Greenfield, saw positives to build on in the upholstery retailer’s second straight profitable quarter.
Revenues from continuing operations decreased 6.3 percent to $33.3 million, and the company generated net income of $1.6 million, which was down from $2.2 million a year earlier.
“I am pleased to report that the changes to our merchandising and advertising strategies and adjustment to margins which returned us to profitability during our second fiscal quarter continued to be successful,” Greenfield said.
The company operates 187 stores, and it opened its first Ashley HomeStore during the quarter and is currently negotiating a lease for a second location. Greenfield said the Ashley store will “produce substantial revenues and additional profitability to fuel Jennifer’s growth.”
July 10,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on July 2007
Tara Massood has been named assistant business manager for Thomasville Stores of New Jersey’s East Hanover location, one of five in the area owned and operated by Plum Management, a joint property of brothers Mike and Eddie Massood.
Tara Massood is a recent graduate of East Carolina University where she earned a Bachelor of Science degree in business administration, with a concentration in marketing. Her father is Eddie Massood, who also owns MGM Transport Corp., an international trucking company based in High Point, and which was recently acquired by CF Holding Company.
In her new post, Tara Massood will report to East Hanover Store Manager Annmarie McAuliffe. Her responsibilities include daily sales close-outs and deposits, floor duties and handling customer relation issues.
“I’ve been around furniture my whole life,” she said. “I’ve been interested in the industry for as long as I can remember and hope to follow in my father’s footsteps.”
Michael Massood Sr., Tara’s grandfather, along with his brother George, began his home furnishings industry career in the 1930’s offering delivery service to local furniture stores, before growing into MGM Transport. “The next generation is the future of our business,” added Mike Massood.
July 9,
2007 by in UnCategorized
By Home Furnishings Business in on July 2007
Slumberland, Little Canada, Minn., the Midwest’s largest furniture retailer, kicked off a five-week celebration of the company’s 40th Anniversary on Monday. The event will include the company’s best sales offers of the year, special financing offers and numerous giveaways to commemorate the milestone.
Special promotions include one $1,000 shopping spree for each of Slumberland’s 40 years in business. Shoppers can enter to win the $40,000 in shopping sprees at any of Slumberland’s 107 locations.
“The tremendous loyalty and support our employees and customers have shown us over the years have allowed us to reach this milestone,” said Ken Larson, Slumberland’s founder and CEO. “Slumberland’s 40th Anniversary Sale and the shopping spree giveaways are our way of showing our gratitude.”
Special offers available during the five-week event include no-interest financing until 2011 on qualifying purchases and featured items sold at 40 percent off their regular price.
July 9,
2007 by in UnCategorized
By Home Furnishings Business in on July 2007
Global Link Logistics, Atlanta, a leading provider of import logistics services to the North American home furnishings industry, announced Monday that effective July 16, it will manage its own shipments at origin from Asia to North America under the brand of its parent company, Golden Gate Logistics.
“This is a key milestone for Global Link as it will allow us to considerably expand our services at origin, greatly improve supply chain visibility off our dedicated, end-to-end IT platform, and significantly control our costs and service to our customers,” said Gary Meyer, president of Global Link Logistics.
Golden Gate has flagship offices in Tianjin, Shanghai, Shenzhen and Hong Kong, and full coverage throughout China. Indonesia, Vietnam, Thailand, Malaysia and other origin points are being handled by the Southeast Asia network of agents with full visibility and direct access into the Global Link system.
“We have assembled an experienced origin team that I have worked with for many years,” said Antonio Leung, senior vice president of Golden Gate Logistics, who is heading up Golden Gate’s strategy and operations in Asia. “I am confident that our very capable staff will perform exceedingly well as they meet the needs of our customers at key origin points across Asia.”
Recently, Global Link announced a new transpacific express service called FLEX (an acronym for Furniture Less than container Express). Designed specifically for home furnishings shipments from Asia to North America, FLEX helps reduce landed costs and inventories for North American importers while providing complete supply chain visibility and event management.
Global Link, founded in 1998, is a leader in containerized ocean freight transportation and supply chain solutions, specializing in Transpacific Asian/North American trade lanes. Global Link is among the 10 largest ocean forwarders in the China-to-United States trade lane, and the company says it is also the leading freight forwarder and customs broker for the U.S furniture industry.
Parent company Golden Gate Logistics, Palo Alto, Calif., acquires and consolidates premier logistics providers in North America and Asia.
July 9,
2007 by in UnCategorized
By Home Furnishings Business in on July 2007
Representatives of the world furniture industry will meet for the second World Furniture Congress Sept. 11-12 at the Shanghai International Convention Center. The event will run concurrently with the upcoming 13th China International Furniture Expo, Sept. 12-15, in Shanghai.
Organized by the China National Furniture Association and the World Furniture Confederation, the congress’ delegates will discuss the opportunities and challenges of globalization, this year’s topic being “Globalization: influences on Cooperation and Development.”
The WFC will include keynote speeches from a lineup of global furniture experts, as well as breakout sessions and round-table discussions for an animated exchange of opinions and ideas.
In addition, a golf tournament and factory visits have been planned.
Opening Sept. 11 with an examination of the current state of the industry, afternoon sessions that day and the next aim to shed light on various issues of globalization including the impact of the World Trade Organization, environmental issues and mega-trends, furniture consumption from a macro-economical perspective, IPR, new materials and technologies.
The first World Furniture Congress was held in Mallorca, Spain, in May 2006. This year, organizers expect between 250 and 300 international attendees and about 500 Chinese delegates. Delegates also will have the opportunity to attend the opening ceremony of the China International Furniture Expo on Sept. 12.
“It is a great honor for us to host the World Furniture Congress. Staging the congress in China reflects the increasing role of Asia in the furniture industry,” said Jia Qingwen president of the China National Furniture Association.