Daily News Archive
Brought to you by Home Furnishings Business
June 5,
2007 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on June 2007
Ruelle’s Furniture of Milwaukee will close its furniture store after 34 years as its founder, Ambrose Ruelle, said he is “going fishing.”
In a press release Monday, Ruelle said redevelopment of the area “created the opportunity for personal change in my life after 34 years of 60 hours a week in the store.”
In the news release, Ruelle said prices already have been marked down for a liquidation sale that will continue through September 1.
June 5,
2007 by in UnCategorized
By Home Furnishings Business in Bedding on June 2007
The International Sleep Products Association’s Sleep Products Safety Council is introducing new mattress hangtags to help educate consumers about mattress safety to coincide with new federal open-flame standards for bedding that take effect July 1.
The SPCS first developed hangtags 20 years ago to help mattress manufacturers inform consumers about product safety, and has sold approximately 220 million hangtags in the United States and Canada since their introduction.
“We have worked closely with (Consumer Products Safety Commission) to establish this new standard, and now that it’s passed, our work is far from over,” said Tom Taylor, acting chairman of the SPSC. “The new mattresses will meet fire safety standards, but that does not mean mattresses are fire-proof--they will only burn more slowly and less intensely, allowing for more time to escape from a home. That’s a critical message to communicate, and our redesigned mattress hangtags provide one of the best and easiest ways to educate consumers about their new mattress’ flammability, as well as provide other important safety tips.”
The bright yellow hangtags, titled “Don’t Go To Sleep Yet ... Eight Things You Need to Know About Your Mattress,” highlight safety messages regarding smoking, matches, candles, space heaters, electrical cords, sleeping with babies, and the disposal of plastic wrapping and old mattresses. Pricing for the basic hangtag has not changed, but the SPSC has lowered the price for the redesigned and re-sized Tyvek version that can be permanently sewn onto the mattress.
The new hangtags are designed to meet the needs of non-English-speaking consumers in the U.S. and Canada, using a series of pictograms about fire safety that can be understood in any language. In addition, the hangtag encourages those who speak Spanish or French to visit the SPSC Web site (
www.safesleep.org) for more information. An English/French version of the SPSC hangtag is available for products sold in Canada.
Proceeds from the hangtags support the SPSC’s mission to provide consumer safety information, support scientific research, and promote activities aimed at reducing hazards associated with mattresses and other sleep products. The SPSC’s efforts reach beyond flammability issues and encompass other mattress-related subjects, including child safety, suffocation and sudden infant death syndrome (SIDS), smoke detectors, and indoor air quality research.
To view the new hangtag, click
here.
To learn more about participating in SPSC’s safety hangtag program and for information on ordering tags, contact Jane Oseth at joseth@sleepproducts.org or at (703) 683-8371, ext 1130.
June 5,
2007 by in UnCategorized
By Home Furnishings Business in Las Vegas on June 2007
Brin Perryman joined World Market Center Monday as a leasing manager. Most recently, Perryman served as western regional sales manager for the industry news weekly Furniture Today.
“I have seen World Market Center grow from a mere idea,” recalls Perryman, who has worked closely with World Market Center executives over the years on a number of advertising projects for the publication. “I knew it would become something very big and successful. ... I am personally familiar with a large percentage of the tenants, and I feel my background will be an asset in my new position leasing space as World Market Center grows and diversifies.”
Babs Blair, director of leasing for World Market Center, said Perryman has spent more than a decade in the furniture industry.
“He is very familiar with the needs of manufacturers and the important role Las Vegas Market plays for them,” she said. “He has built solid relationships with industry leaders and we look forward to him bringing this expertise to World Market Center.”
June 5,
2007 by in UnCategorized
By Home Furnishings Business in on June 2007
Hooker Furniture Corp., Martinsville, Va., reported on Wednesday sales of $77.3 million for its 2007 fiscal first quarter, ended April 29; and net income of $4.3 million, or $0.33 per share. Those are decreases of 14.8 percent in sales and 26.5 percent in net income compared to second-quarter 2006, which ended May 31, 2006.
Due to a change in Hooker Furniture’s fiscal year, the company’s 2008 fiscal year began January 29, 2007, and will end February 3, 2008. The company is comparing operating results for the 13-week first quarter of fiscal year 2008 with the 2006 three-month second quarter that ended May 31, 2006 (the “2006 quarter”).
Based on actual shipping days in each period, average daily net sales declined 13.4 percent to $1.2 million per day during the 64 operating days in the 2008 first quarter, compared to $1.4 million per day during the 65 operating days in the 2006 quarter.
Contributing to the decrease in earnings per share was a net increase of 1.2 million shares primarily resulting from the termination of the Company’s Employee Stock Ownership Plan in January 2007, partially offset by stock repurchased since February 2007.
“We knew that the top line would be our biggest challenge this quarter because of continuing weakness at retail,” said Paul B. Toms Jr., chairman, chief executive officer and president. “Even though the sales slump is industrywide, our double-digit decrease in revenues is greater than anticipated and disappointing. While we are on track with many of our operational improvements and cost-cutting goals, the resulting savings were not apparent due to lower than expected sales volume.”
Toms added that Hooker continues to make progress in “positioning the company to be more profitable even in a flat sales environment. Our cost structure improvements are underway and should be more evident in the second half of the year.”
Looking ahead, Toms expected retail conditions to remain sluggish at least through the summer.
“We’re in the challenging position of needing to replace revenues lost from domestically produced wood furniture sales from last year, due to the closing of our domestic wood furniture plants, in a very difficult retail environment,” he said. “However, upholstery sales from Sam Moore will begin to replace sales levels lost by our exit from domestic wood manufacturing. We expect that profitability for fiscal 2008 should improve even in the face of weak business due to the cost-cutting measures the company has implemented and the continued progress in managing our supply chain, warehousing and distribution operations. In addition, a number of expenses that occurred in the second half of the previous year have been eliminated and are not expected to recur in 2008, including restructuring costs, early retirement costs and non-cash ESOP cost.”
Hooker Furniture presented its results for its fiscal 2008 first quarter via teleconference and live Internet Web cast this morning. The call will be simultaneously Web cast and archived for replay on the company’s Web site at
www.hookerfurniture.com in the Investor Relations section.
June 5,
2007 by in UnCategorized
By Home Furnishings Business in Upholstery on June 2007
Norwalk Furniture Designer Joe Ruggiero recently outfitted a showhouse in San Francisco’s Marina District with eco-friendly furnishings from his collection by custom manufacturer Norwalk Furniture.
The furniture incorporates soy-based foam and recycled wire and steel to complement the Marina Green project’s environmentally-conscious approach by builder and developer Regina Callan, and architect Mark English.
“Marina Green is a celebration of transitional design and real-world sustainable building practices.” said Jack Grant, vice president and publisher,
Home magazine.
Home magazine partnered with Remodeling magazine to present “Settling in the City: Marina Green Showhouse” in San Francisco, a benefit for the Northern California Cancer Center.
From entrance to guest bath, upholstery profiles incorporates Norwalk’s now standard 10 percent soy-based foam--called Preserve, courtesy of Hickory Springs. The seating systems are also comprised of reclaimed wire and steel. Another eco-bonus: All glue used on cushion components at the company’s manufacturing headquarters in Norwalk, Ohio, is water-based.
The showhouse is open from through Sunday, June 10.