Daily News Archive
Brought to you by Home Furnishings Business
March 4,
2007 by in UnCategorized 
By Home Furnishings Business in on March 2007
Shares of Furniture Brands International, St. Louis, were up sharply Friday on the news that affiliates of Sun Capital Partners, Boca Raton, Fla., have acquired more than 2.43 million FBI shares—or approximately 5 percent of the company’s outstanding shares.
Share prices jumped 12 percent to $17.67 after Sun Capital disclosed that funds it controls had been buying up shares since Jan. 10 at prices as low as $15.63. In a Securities and Exchange Commission filing Thursday, Sun Capital officials said the purchases were for investment purposes and said it is seeking to “optimize the value of its investments.” In the required filing, Sun Capital officials said the firm may consider a wide range of other actions for FBI, ranging from acquiring additional stock to a merger offer. The officials also said Sun Capital may seek to have discussions with FBI’s management.
The $1.96 gain in FBI’s share price Friday was the largest increase in more than a year. In January, Sun Capital acquired Rowe as part of a bankruptcy sale. The company also acquired Powell in January, and it has ownership interests in Lexington Home Brands and Nationwide Furniture & Mattress Warehouse. Sun Capital sold its majority stake in Mattress Firm during January to a Boston-based equity firm, J.W. Childs. Sun Capital had acquired the bedding retailer in 2002.
March 4,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on March 2007
Raymour & Flanigan Furniture, Liverpool, N.Y., has signed an agreement to purchase Alperts Furniture Showplace of Seekonk, Mass., which borders Providence, R.I. The sale should close within three months.
“Raymour & Flanigan Furniture is excited this step brings us closer to offering residents of Rhode Island and Southeastern Massachusetts our furniture selection, many financing options and guaranteed three-day delivery,” Raymour & Flanigan Furniture President & CEO Neil Goldberg said in a release. “I recently had the privilege of meeting with Alperts employees and told them that we are driven to make this transition as smooth for them as for the customers they have served so well over the years. We are dedicated to enhancing the customer’s shopping experience, which is a direct result of quality associates.”
Although the final steps in the transfer of ownership are 60-90 days away, Raymour & Flanigan Furniture has already committed to honor all Alperts furniture orders, gift cards, discounts, lay-aways and warranties both during and after the transition period for all current and previous Alperts customers.
“We look forward to having Raymour & Flanigan Furniture carry-on the reputation, service and tradition of excellence the Alpert family has created in more than 100 years of business,” said Hershel Alpert, third-generation President & CEO of Alperts Furniture Showplace.
The Raymour & Flanigan Furniture showroom in Seekonk will be the company’s 71st store and the first serving Rhode Island and Southeastern Massachusetts. Raymour & Flanigan now owns and operates 64 showrooms and six clearance centers across the Northeast. The 60-year-old retailer employs more than 3,800 associates throughout Connecticut, Delaware, Massachusetts, New Jersey, New York and Pennsylvania.
March 4,
2007 by in UnCategorized
By Home Furnishings Business in Bedding on March 2007
Tom McLean has been promoted to executive vice president of Sleep to Live, the new education initiative of bedding manufacturer Kingsdown Inc., Mebane, N.C.
McLean, who has been with Kingsdown for more than 35 years, previously was senior vice president.
In this new position, McLean will serve as the Sleep to Live spokesperson with an increased emphasis on educating retailers, corporations and the general public about the importance of healthy sleep.
“Kingsdown believes strongly in the tremendous health benefits of sleep, as well as the negative consequences of sleep deprivation,” said Eric Hinshaw, Kingsdown chairman and chief executive officer in an announcement. “As one of the most knowledgeable people in the world on the subject, his passion is sleep education and sharing information on the value of getting a good night’s sleep.”
“Fifteen years ago there wasn’t any research available on sleep and how it relates to the sleep surface,” McLean said. “We at Kingsdown searched and found empirical data that led to our own sleep studies, from which we discovered that sleeping in one position for an extended period of time allows a person to fall into the deeper stages of sleep, causing them to feel more rested upon waking the next morning.”
During his tenure with Kingsdown, McLean has served the bedding industry by working on numerous committees for the International Sleep Products Association, including six years on the Consumer Products Safety Council, four years on the Product Safety Committee for flammability and 12 years on the board of directors for the Better Sleep Council. Currently, he is vice chairman of the executive board for the Better Sleep Council.
McLean has been instrumental in expanding the international division of Kingsdown which has grown to include 25 countries. He has educated retail salespeople in 12 countries about the importance and benefits of quality sleep.
Since 1985, McLean has been actively involved with sleep research initiatives and product development at Kingsdown. He has worked with doctors, medical technicians and biomechanical engineers from across the country. He is the co-patent holder of the Automatic Mattress Selection System and is in the process of obtaining additional patents.
“We at Kingsdown believe that the more people come to understand and appreciate the health consequences associated with sleep, the greater priority they will put on choosing a custom, quality sleep system,” Hinshaw said. “Tom’s work as a spokesperson for Sleep to Live will benefit not only Kingsdown and the mattress industry, but people around the world.”
March 1,
2007 by in UnCategorized
By Home Furnishings Business in High Point on March 2007
Merchandise Mart Properties Inc. has partnered with the Sustainable Furniture Council to launch GREENStyle, the first eco-friendly market initiative in the home furnishings industry, at the upcoming High Point market. The move creates several opportunities for marketgoers to learn about current offerings of sustainable home furnishing products and to learn more about the importance of adopting sustainable practices in their businesses.
The GREENStyle Pavilion on the first (top) floor of the Suites at Market Square, will create a forum for education and product display, providing a centralized location for companies to showcase their eco-friendly products to buyers interested in purchasing sustainable products for their clients or their stores. Another goal is to prove that high style and environmental responsibility go hand in hand.
“As we spoke to more and more retailers and manufacturers, it became clear that sustainability in the home furnishings industry is no longer a passion of just a handful of people,” said Karen Olson, vice president of marketing for MMPI in High Point. “The need for sustainable products is being driven by consumers and this demand is increasing every day. We felt it was important to offer a forum to educate buyers and manufacturers on this significant and growing trend.”
Companies already confirmed to participate in the pavilion include Urban Woods, Rathbone Imports, Organo Natural Furnishings, From The Mountain, SouthCone PaT’s Line and Rainforest Alliance. The Sustainable Furniture Council, an industry association seeking to establish eco-friendly standards for sourcing and operations in the furniture industry, will have an information booth in the pavilion where visitors can learn more about the organization’s mission and how to get involved.
“We were very pleased when MMPI approached us about partnering with them on their GREENStyle initiative at the High Point Market,” said SFC President Gerry Cooklin. “MMPI has the facilities and means for bringing people together, and we are looking forward to contributing our knowledge and expertise on the subject of sustainability to their program offerings.”
The furniture industry must play a leadership role in sustaining its raw materials, since it adds more value to the wood resource than any other category, noted SFC Treasurer Susan Inglis, SFC treasurer.
“The High Point Market is a great opportunity for us to reach a critical mass of industry professionals to continue educating them on the importance of preserving our natural resources,” Inglis said.
Dennis Rose of Eclectic Home in Portland, Ore., said he and other retailers are excited about the first program to guide buyers in sourcing eco-friendly products in the home furnishings industry.
“I think it is great that Merchandise Mart Properties and the High Point Market are on the forefront of introducing this new category and bringing to light the importance of sustainability in the home furnishings industry,” Rose said. “And, organizing vendors in one area certainly makes it easier for buyers.”
The GREENStyle Map, produced by MMPI, Home Furnishings Business and the SFC, will highlight companies participating in the GREENStyle Pavilion, Sustainable Furniture Council members, and manufacturers currently using BiOH polyols. The map, designed to be a guide for buyers looking for eco-friendly products while at High Point Market, will be available in the GREENStyle Pavilion on the first floor of the Suites at Market Square. The map is sponsored by Cargill, producer of BiOH brand polyols, the first commercially successful bio-based polyols to be used in flexible foams.
MMPI and the SFC also will host the GREENStyle Party, with sponsorship from Furniture/Today, March 29, 6-8 p.m. in Market Square’s Century Courtyard. All are invited to join in this evening honoring the importance of sustainability in home furnishings. The party will feature celebrity guest Danny Seo, best-selling author, columnist, radio talk-show host, and eco-friendly lifestyle advocate; live entertainment, and complimentary food and drinks.
March 1,
2007 by in UnCategorized
By Home Furnishings Business in on March 2007
The American Home Furnishings Alliance has endorsed Help1Up, the home furnishings industry’s free used furniture removal service.
Help1Up is administered by the non-profit National Furniture Bank Association. Dozens of furniture banks across the country collect used home furnishings from the general public, give the donor a tax-deductible receipt, then provide the furnishings directly to families in need.
Typical furniture bank clients are women and children escaping domestic violence, families living below the poverty line, and victims of natural disasters such as Hurricane Katrina.
“The AHFA is proud to endorse Help1Up,” said Andy Counts, AHFA’s chief executive officer. “The industry has come together to support this socially responsible and environmentally friendly service.”
According to Don Lawrence, executive director of the NFBA, Help1Up also increases sales of new furniture.
“Furniture banks annually collect 1 million items of used home furnishings from the public that may otherwise be resold in consignment stores or in classified advertisements,” he said. “We create a vacant spot ready for a new purchase.”
Help1Up has “green” appeal, as well, keeping thousands of tons of usable furniture out of landfills and incinerators every year.
“This marks the first time that the entire industry has come together in support of a singular cause,” said Ray Allegrezza, editor-in-chief of Furniture/Today and an NFBA board member. “Supporting Help1Up is a no-brainer. It’s free, facilitates new furniture purchases, provides a valuable service to our customers, protects the environment, and assists tens of thousands of families in need.”
Other endorsing industry associations include: Business and Institutional Furniture Manufacturer’s Association International; California Furniture Manufacturers Association; Futon Association International; Home Furnishings International Association; Interior Design Society; International Home Furnishings Representatives Association; National Home Furnishings Association; North American Retail Dealers Association; Unfinished Furniture Association; Western Home Furnishings Association; and Women in the Home Industries Today.