Daily News Archive
Brought to you by Home Furnishings Business
April 22,
2007 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on April 2007
The RoomPlace at Harlem Furniture, Lombard, Ill., has opened its 19th store, the company announced Friday. The new location in Algonquin, Ill., has 31,000 square feet of showroom space.
The newest store will offer next-day delivery. The RoomPlace describes itself as the first furniture retailer in the Chicago area to specialize in room groups. It operates three stores in metropolitan Chicago, 14 in the city’s suburbs and two stores in Indiana, including a location that opened earlier this year in Mishawaka, Ind.
April 19,
2007 by in UnCategorized
By Home Furnishings Business in Upholstery on April 2007
Rowe Furniture Senior Design Consultant Howard Niederman, who helped pioneer the upholstery manufacturer’s signature special order fabric program, is retiring after 28 years working with the company.
In addition to taking a lead role in the styling and manufacturing of Rowe’s product, Niederman also planned and developed designs for key accounts.
“Howard was instrumental in helping Rowe develop into the style leader it is today,” said Rowe President and CEO Stefanie Lucas. “We would not be who we are today without the many years of Howard’s expertise and input into our product direction.”
Prior to joining Rowe, Niederman was president and chairman of the board of Howard Parlor Furniture in Chicago. Niederman resides outside of Chicago. After retirement he will be enjoying more time with his wife of 55 years, his five children and seven grandchildren. He graduated from Roosevelt University and has a Masters degree from the University of Chicago.
April 19,
2007 by in UnCategorized
By Home Furnishings Business in Bedding on April 2007
With the development of new flammability standards for upholstered furniture and mattresses underway in Washington, D.C.--including new mattress standards that take effect in July--the American Home Furnishings Alliance is presenting Flammability Update 2007. The event featuring speakers from the U.S. Consumer Product Safety Commission will be held on Wednesday, April 25, at the Greensboro, N.C., Sheraton Four Seasons from 8:30 a.m. to 4:30 p.m.
According to a brochure for the event, Flammability Update will provide manufacturers and importers with the most up-to-date information available on how regulations could impact their operations.
Among the invited speakers is Dale Ray, CPSC project manager of furniture flammability, who will present information on cigarette and small open flame requirements that are being considered for components used for upholstered furniture. Allison Tenney, project manager of open flame standards for mattresses and bed clothing, will review test procedures and compliance requirements of the Mandatory Open Flame Standard for Mattresses that takes effect in July. She’ll also discuss requirements being considered for bed clothing.
Other speakers include representatives from the National Fire Protection Association, the Polyurethane Foam Association and a legal firm with expertise in imports of consumer products. There will also be an opening reception on Tuesday, April 24, at 6 p.m.
April 19,
2007 by in UnCategorized
By Home Furnishings Business in Bedding on April 2007
Tempur-Pedic International, Lexington, Ky., posted a 16 percent increase in net sales to $266 million in its first quarter on the strength of a 25 percent increase in its U.S. furniture and bedding retail channel.
The company, which makes premium mattress and pillow products, reported net income of $28.8 million in the quarter that ended March 31 as compared to $26.9 million during the same period last year. Earnings per share increased 21 percent to 35 cents per diluted share.
President and CEO Thomas Bryant said, ”Tempur-Pedic International delivered a very solid quarter during what continues to be a challenging environment for the bedding industry.
He said first-quarter results were “somewhat moderated” by limitations on production capacity at its new factory in Albuquerque, N.M, which had increased its production substantially in late March: “Our U.S. business experienced mattress shortages resulting from strong consumer demand, low levels of inventory at the beginning of the year and capacity constraints. In addition, in order to minimize backorders for our existing retail partners, we limited the opening of new accounts such that our total U.S. door count is unchanged from the prior quarter.”
April 19,
2007 by in UnCategorized
By Home Furnishings Business in Accessories on April 2007
Decorize, Springfield, Mo., which provides home accents products to major furniture manufacturers and retailers, has received notice that the American Stock Exchange plans to start a delisting procedure.
The notification is due to the company not maintaining compliance with some shareholder equity requirements. In a statement, Decorize CEO Steve Crowder said the company was already in the process of applying to be listed on the Over the Counter Bulletin Board (OTCBB) when it received the AMEX notification. The Decorize board of directors has determined that the OTCBB would provide sufficient liquidity for its shareholders and that the Company would obtain savings from not having to pay significant AMEX listing fees.
“Decorize has recently achieved profitability, is generating positive cash flow, and our year-to-date financial results clearly illustrate the tremendous progress we have made,” Crowder said. “We do not believe that it would be in the best interest of our shareholders to raise equity just to meet the AMEX requirement. Our most recent equity raise has provided the company with capital to expand production capacity to meet the 70 percent growth the company is currently experiencing. We are committed to a long-term goal of $50 (million) in annual sales and will review the listing requirements on the various exchanges at that time. We are committed to continuing to create value for our shareholders.”
In February, Decorize announced that revenues for the first six months of its fiscal year reached $7.68 million, an increase of 105 percent over the same period in 2006. The company had an operating profit of $112,000 for the first half of the fiscal year after posting a $1.04 million loss in the same period a year earlier.