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June 13,
2007 by in UnCategorized 
By Home Furnishings Business in Bedding on June 2007
Fast-growing Select Comfort, Minneapolis, announced Wednesday that it expects second-quarter sales to be 5 percent lower than a year ago, and the company reduced its guidance for 2007, saying marketing is not performing to expecations.
In a pre-recorded message, CFO Jim Raabe said full-year sales are expected to increase 4 percent to 7 percent to $840 million to $860 million. The company had previously said it expected annual sales to top $900 million. Second-quarter results will be released July 25.
“We are not at all satisfied with our performance, particularly our marketing, and we are working aggressively on programs to both stimulate demand and enhance margin,” Raabe said.
Last month, the company announced that Chief Marketing Officer J. Douglas Collier had resigned. In 2006, the company’s net sales grew 17 percent to $806 million. Raabe said the company is adjusting its marketing to emphasize new products, including one featuring “cooling” technology.
Select Comfort describes itself as the nation’s leading bed retailer. Its adjustable firmness “Sleep Number” mattresses are sold in more than 440 company owned stores and several bedding retailers.
June 13,
2007 by in UnCategorized
By Home Furnishings Business in Home Office on June 2007
Office and residential furniture maker Herman Miller, Zeeland, Mich., aims to make desktop temperatures cooler with a new C2 Climate Control device that it says solves one of the most vexing issues in work spaces—personal temperature control.
The $300 device, which is 10-inches high and weighs about 2.5 pounds, can lower the temperature immediately around it by eight degrees under certain conditions, and it can also can be used to raise temperatures using technology in use in some car seats. Herman Miller officials said the so-called “cube cooler” uses 90 percent less energy than most space heaters. The C2 personal climate device claimed a silver design award at the opening of the NeoCon World Trade Fair in Chicago earlier this week.
June 13,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on June 2007
Consumers spent 4.7 percent more among the nation’s retailers in May compared to the same month last year, and 1.1 percent seasonally adjusted, from April according to figures released Wednesday by the National Retail Federation.
Furniture and home furnishing stores sales, though, rose a subdued 0.3 percent seasonally adjusted and 2.9 percent unadjusted over last year. The effect of the weak housing market also dampened building material stores sales, which rose 2.1 percent seasonally adjusted from last month, but decreased 0.7 percent unadjusted over last year.
May retail sales released Wednesday by the U.S. Department of Commerce show that total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) increased 1.4 percent seasonally adjusted from last month and a solid 5.4 percent unadjusted year-over-year.
“After a lackluster April, consumer spending rebounded nicely in May,” said NRF Chief Economist Roz Wells. “With retail sales increasing, the economy is getting a much-needed boost.”
Industry sales in most sectors saw strong gains. Clothing and clothing accessories stores sales saw a 2.7 percent increase seasonally adjusted over April, and a strong 9.1 percent increase unadjusted year-over-year. Health and personal-care stores sales rose 0.8 percent seasonally adjusted from April and 6.5 percent unadjusted over last year.
June 13,
2007 by in UnCategorized
By Home Furnishings Business in on June 2007
Darren Godbee and Chad Welch, the design duo behind the DarrenChad furniture collections for Tomlinson/Erwin-Lambeth, have opened a showroom in Atlanta.
The new 50,000-square-foot showroom features than 50 rooms showcasing furniture and home accessories from around the world, including DarrenChad’s “Return to Decadence” and new “Bella Vita” collections.
June 13,
2007 by in UnCategorized
By Home Furnishings Business in Case Goods on June 2007
Furniture Brands International, St. Louis, revised its outlook for the second quarter Wednesday, saying an earlier forecast was overly grim.
In a news release Wednesday, Chairman and CEO Mickey Holliman said, “Though business conditions remain challenging, we now expect our net sales for the quarter to be down just under 12 percent, as opposed to the 15 percent we forecasted in early May. As a result, we now expect our net earnings per diluted common share to reflect a loss of 3 to 7 cents. This includes the effect of 2 cents in restructuring, asset impairment and severance charges.”
The company is scheduled to report second-quarter results on August 1. In the release, Holliman also said retail conditions remain challenging, and the company is continuing to pursue cost savings and “strategic opportunities” as a result.