April 6,
2007 by in UnCategorized 
By Home Furnishings Business in Leather Upholstery on April 2007
After reporting a 9.8 percent increase in revenues Monday, Natuzzi announced Tuesday that challenging business conditions will mean that its 2007 revenues will likely match the $924.2 million in revenues it posted during 2006.
In addition, the company said it expects a “break even (year) at net results level.” The company expects to invest nearly EUR 20 million in capital expenditures during the year. Based in Santeramo, Italy, is that country’s largest furniture manufacturer and sells its leather upholstered furniture in 123 countries around the world, including 125 stores it owns in Italy and 158 licensed stores elsewhere in the world.
April 5,
2007 by in UnCategorized
By Home Furnishings Business in Case Goods on April 2007
Case goods and occasional importer Magnussen Home Furnishings has returned leadership of the company to Chairman Richard Magnussen, who now also serves as chief executive officer and president. In addition Don Essenberg has been promoted to executive vice president and chief marketing officer. He had served as Magnussen’s senior vice president of sales.
The moves are part of a management consolidation after Jeff Cook resigned his position as Magnussen’s president and CEO to take the presidency of Furniture Brands International’s Broyhill division.
“Over the past seven years, we have assembled a team that has enabled Magnussen Home to meet and exceed our goals. Stepping back into management of the company on a daily basis is something that I’m comfortable doing and I’m enjoying it greatly,” Magnussen said. “I’m confident in our management team, where we are and where we’re going, particularly with Don in this new position as our chief marketing officer. He has proven himself with our company and his track record speaks for itself.”
In addition to driving the strategic direction of the company, Magnussen says he personally will focus on further streamlining the company’s infrastructure, based on the principles of trust, honesty and respect.
“My efforts will be to strengthen the back end of our business and what we are known for--fast, on-time deliveries and quality that live up to what we promise,” he said. “We will continue to place a priority on building value into our product line.”
Essenberg’s responsibilities will include overseeing the entire marketing process, including brand development, merchandising and sales.
“It is very exciting to be a part of the Magnussen Home marketing team,” Essenberg says. “This will be the first time in our 76-year history that our sales, merchandising, and marketing efforts have been fully integrated. We believe that this new focus will enable us to better serve our retail partners and provide the consumer with new, exciting and affordable home fashions.”
Essenberg, in his family’s third generation to work in the furniture business, joined Magnussen Home in June 2005, with previous experience including positions as vice president of sales and vice president of case goods merchandising for Broyhill Furniture Inds.; vice president of sales for Berkline; and national sales and marketing manager over the case goods division and gallery programs for Bernhardt Furniture Co.
“With all of the sales and marketing functions under Don’s direction, we will be better able to move forward with our strategic plans,” Magnussen said. “Don has a passion for success and is a consummate professional who exemplifies what Magnussen Home is all about, among our staff, our customers, our vendors and the industry.”
April 5,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on April 2007
Home furnishings retail giant Ikea announced Thursday that it has received key permitting and secured construction contracting to keep a new Cincinnati-area location in West Chester, Ohio, on track for opening next Spring.
Ikea hired Clark Construction of Lansing, Mich., as the primary contractor, having successfully completed the Ikea store that opened last June in Canton, Mich. Clark currently is mobilized on site in West Chester.
The 339,000-square-foot future Ikea West Chester and its 1,700 parking spaces will be built on 28 acres of a 56-acre parcel along Interstate 75 at the southeastern corner of Allen and Muhlhauser Roads, south of the Union Centre Boulevard exit. The store will employ approximately 400 people when it opens. IKEA also will be selling three acres that will be available for complementary retail and restaurant uses.
There currently are more than 250 IKEA stores in 35 countries, including 29 in the United States, where other stores are being planned in: Brooklyn, N.Y.; Charlotte, N.C.; Draper, Utah; Orlando, Fla.; Portland, Or.; Somerville, Mass.; and Sunrise and Tampa, Fla.
April 5,
2007 by in UnCategorized
By Home Furnishings Business in on April 2007
A two-part video interview with High Point Market Authority President Brian Casey is now available on Home Furnishings Business’ Web site,
www.hfbusiness.comTo view part one of the video click
here.
For part two of the video, click
here.
Senior Editor Jo Fleischer sat down with Casey at the recent High Point Furniture Market to ask about developments there.
In part one, Casey discusses the recently announced effort to revitalize premarket. In part two, he addresses market dates and other initiatives.
Managing Editor Howard Whitman caught other interviews and plenty of Market action on video during the show, so stay tuned for more.
April 4,
2007 by in UnCategorized
By Home Furnishings Business in Bedding on April 2007
Trinity, N.C.-based Sealy Corporation, the world’s biggest bedding manufacturer, announced Wednesday that net sales for the company’s first quarter increased 4.3 percent to $412 million thanks to a 12.2 percent increase in units.
Sealy’s average unit selling price declined, but the company saw its net income for the first quarter increase 7.2 percent to $24.6 million.
“As we anticipated and communicated over the past few quarters, the momentum in domestic volume that has been building continued during the first quarter as unit growth turned positive, due primarily to strength in our promotional and specialty product lines,” said David J. McIlquham, Sealy’s Chairman and CEO. “We are also pleased with the ongoing superior performance in our international markets as we build demand for our brands around the world.”