Daily News Archive
Brought to you by Home Furnishings Business
March 12,
2007 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on March 2007
Year-over-year retailer purchases jumped 8.3 percent in February 2007 versus February 2006. February’s increase was the largest month-over-month increase since November 2006, which saw an 18 percent increase over November 2005. As a result, the 2007 year-to-date purchase trend over 2006 climbed to 5.61 percent for the combined first two months of 2007.
Additionally, month-to-month retailer purchasing volume slipped by 14.45 percent in February compared to the purchasing volume in January. The February decline, however, was lower than the decrease from January to February of 2006.
Visit
http://www.furnishnet.com/company/fnet_index.html for the complete view of the February report of the FurnishNet Index.
March 12,
2007 by in UnCategorized
By Home Furnishings Business in on March 2007
Dorel, Montreal, which produces a wide range of juvenile products and ready-to-assemble furniture, reported Monday that its fourth-quarter revenues increased 4.1 percent to $447.9 million in U.S. dollars. Net income for the quarter decreased 3.9 percent to $21.7 million.
The fourth quarter revenue figure includes $4 million in pre-tax restructuring costs as part of an ongoing initiative to reduce costs at two Dorel Europe factories that make juvenile products. For the full year that ended Dec. 30, revenues totaled $1.77 billion, up from $1.76 billion, and net income totaled $88.9 million, which was down from $91.3 million in the prior year.
In the home furnishings segment, which includes its Ameriwood and Cosco Home & Office brands, fourth quarter revenue declined 2.4 percent to $145.3 million. Adjusted earnings from operations rose 9 percent to $8.9 million. Total 2006 revenue declined 4.5 percent to $541.9 million. The company reported that the fourth quarter figure includes a charge of $4.5 million due to anti-dumping duties imposed by the U.S. Deparment of Commerce on certain metal furniture from China from Dec. 3, 2001 through May 31, 2003. The company had expected the cost of those duties to be $2.5 million, but, with a higher-than-expected duty rate, the payments actually totaled $4.5 million. The company said it has a pending claim against an unnamed international law firm for what it called a “breach of professional duty” for failing to file a timely request with the Department of Commerce for an administrative review.
March 12,
2007 by in UnCategorized
By Home Furnishings Business in High Point on March 2007
The International Home Furnishings Representatives Association will present AICO Founder and CEO Michael Amini with the organization’s Pillar of the Industry Award at the 13th Annual Furniture Awards Gala in High Point on March 27.
The Pillar of the Industry Award is presented to an industry leader who has worked to enhance relationships between representatives and other segments of the industry. Amini, who once worked as a furniture sales representative, founded AICO in 1998 in a 220-square-foot warehouse and has built the company into one of the industry’s leading furniture importers.
Previous honorees include Rob Sligh Jr., Ron Wanek, Jerry Epperson and Mike and George Massood.
At the awards event, IHFRA will also honor Paula Shoemaker, a former president of the organization, with the Harold P. Braun Distinguished Service Award, which recognizes a recipient who has served the association and enhanced the image of home furnishings representatives. An IHFRA member since 1981, Shoemaker was the first woman to become the organization’s president when she served a one-year term in 2002.
March 11,
2007 by in UnCategorized
By Home Furnishings Business in Upholstery on March 2007
Michelle Lamb, senior editor of “The Trend Curve” and a national furnishings trends expert, will reveal her 2008 color forecast at Rowe Furniture’s market kickoff party.
The event is set for Monday, March 26, 5:30-7 p.m., in the Rowe Showroom, space 1058 of the IHFC’s Commerce Wing.
“The Trend Curve” forecasts trends in color, pattern and design for manufacturers, interior designers and retailers. RSVP to bortzj@hisaokapr.com or call (202) 466-6286 for more information.
March 11,
2007 by in UnCategorized
By Home Furnishings Business in Bedding on March 2007
Denver-based Furniture Row Cos. announced Friday that it is opening a new four-store Furniture Row Shopping Center in Iowa. Furniture Row operates more than 330 stores in 31 states.
The latest shopping center at 725 Oakbrook Dr. in Marion, Iowa, includes Furniture Row’s Oak Express, Sofa Mart, Bedroom Expressions, and Denver Mattress Company nameplates. The Oak Express and Bedroom Expressions stores are relocations of nameplates that previously operated nearby.
“Unlike other furnishings retailers, our centers have four specialty stores at one destination,” said Bill McKendry, Furniture Row’s marketing director. “Each store focuses on a particular category and each store is managed and staffed with people who are extremely knowledgeable about their specific lines.”
Furniture Row, which is one of the nation’s largest family-owned furniture retailers, owns and operates a Nascar racing team that competes in the sport’s top racing series, Nextel Cup.