Daily News Archive
Brought to you by Home Furnishings Business
January 14,
2007 by in UnCategorized 
By Home Furnishings Business in Case Goods on January 2007
Bernhardt Furniture Co. has partnered with Smithsonian Institution to create a line of historically inspired furnishings. The branded collection, the Smithsonian Collection by Bernhardt, will be introduced in March at High Point Market.
“We are excited and proud to be a part of this endeavor, and we look forward to a long and rewarding relationship with Smithsonian,” said Alex
Bernhardt Sr., chairman and chief executive officer of Bernhardt Furniture. “The Smithsonian name is synonymous with quality, trust and prestige, and this furniture collection will deliver on all those expectations.”
The collection kicks off the Smithsonian’s venture into home products.
The Smithsonian brand is ranked number one for quality among all brands in the Harris 2003 EquiTrend Brand Study, and holds a 94 percent brand recognition among adult Americans. In addition to its world-renowned museums and research facilities, the Smithsonian includes the Smithsonian Magazine, with 7 million monthly readers, 30 retail stores and concessions, a catalog and e-commerce business, Smithsonian Books publishing and Student Travel programs, Smithsonian Networks (a recently launched television programming venture) and 46 licensees that manufacture collection-based or collection-derivative products. A portion of the sales proceeds from the furniture collection will support the educational mission of the Smithsonian Institution.
“We are very pleased to be partnering with Bernhardt, an industry leader known for high quality, master crafted furniture that offers exceptional
value to consumers,” said Severin White, senior vice president of business development and licensing of Smithsonian Business Ventures. “The
Smithsonian Collection by Bernhardt will allow the consumer to rediscover time-honored home furnishings that reference the Institution’s vast
holdings.”
The initial furniture offerings will feature timeless adaptations inspired by America’s heritage, but finely crafted for today. The pieces will be rooted primarily in 19th Century American design with Edwardian and Empire influences along with an eclectic mix of occasional pieces. This versatile whole home collection will feature bedroom, dining room and occasional pieces.
Key pieces in the collection will be tied closely to the Smithsonian archives and designed with a historical influence. Traditional in nature, each piece will carry a story and heritage with it such as a decorative bookcase used in an office in the Smithsonian Castle or the celebrated Thomas Jefferson Campeche chair with its leather sling seat.
The Smithsonian Institution, founded in 1846, is the world’s largest museum complex and research organization composed of 17 museums and the National Zoo in Washington, D.C., and two museums in New York City. The Smithsonian collections are the basis for research, exhibitions and public programs in the arts, history and the sciences. The collections contain 137 million objects, works of art and specimens. In 2006, approximately 23 million
people visited Smithsonian museums and the National Zoo; there were nearly 150 million visits to smithsonian.org.
January 14,
2007 by in UnCategorized
By Home Furnishings Business in on January 2007
The U.S. Department of Commerce released its final results of the holiday shopping season Friday showing a slight improvement over the 2005 season.
December sales grew nearly 5 percent from a year ago, to $332.44 billion, excluding motor vehicles, auto parts and food services, according to the report. For the past two months, sales increased 4.6 percent, to $662.5 billion, compared with the same period in 2005.
The Commerce figures are based on monthly sales results from 5,000 companies. The numbers could be revised after additional data from 12,000 businesses are reviewed in the next few weeks. December retail sales increased 0.7 percent from the month before.
January 11,
2007 by in UnCategorized
By Home Furnishings Business in on January 2007
Watch for a “burst of blues” in home furnishings’ near future. That’s the word from Capel Rugs’ monthly Color & Trend Report, which examines styles, materials and patterns, and the hottest color palettes in the sector.
“We’ll see a burst of blues in the coming months as home furnishing trends rebel against brighter, warmer tones currently in fashion; and embrace a cooler palette inspired by increasing concern for the environment and global warming,” said Lou Webster, Capel Rugs director of product development and design, in the report. “Conservation of fuel and water, sustainable forests, organics and recycling are all part of a larger movement focused on healthy living, and environmentally-conscious consumers want to create simplified, calmer living spaces to match that lifestyle.”
She added that Scandivanian style and blond woods are gaining ground due in part to trend toward cooler looks, and hues of green and blue accent to this new organic style.
January 10,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on January 2007
Jennifer Convertibles reported revenue from continuing operations of $32.7 million and a loss of $637,000 in its first fiscal quarter, which ended Nov. 25.
Revenue was down 8.5 percent compared to last year’s first quarter, when the company had net income of $848,000. That prior-year quarter included a $195,000 gain from the early termination of a lease for a store which was closed in June 2005.
Operating margins from continuing operations decreased in the first quarter to 29.9 percent from 32.4 percent during the same period last year. Same-store sales were off 9 percent.
During the quarter, Woodbury, N.Y.-based Jennifer did not open any stores and closed one store, located in Woodland Hills, Calif.
“The softness that has been experienced for some time in the retail furniture industry finally impacted our results,” said Harley Greenfield, Jennifer’s chief executive officer, in a release Tuesday announcing results. “As I had indicated previously we noticed a softening in demand at the end of our fourth fiscal quarter. We have made a number of changes including adjustments to margins, merchandising strategies and advertising and believe that these changes will return the Company to profitability in the near future, even if the softness in the industry continues.”
On the positive side, Greenfield pointed out that cash and investments increased to more than $15.5 million; and that customer deposits, which result in future sales, increased by almost $3.5 million at the end of the quarter.
Jennifer also expects to open its first Ashley Furniture HomeStore by the end of April.
“This store will be more than 40,000 square and located on Glen Cove Road in Carle Place, N.Y.,” Greenfield said. “We are currently in the process of evaluating locations for our next two Ashley Furniture HomeStores. We believe based on our analysis of stores in similar metropolitan areas that these stores will add substantial growth to our solid Jennifer base as we expect each store to generate between $15 (million) and $20 million in revenues with solid profits.”
Jennifer Convertibles is the owner and licensor of the largest group of sofabed specialty retail stores in the United States, with 171 Jennifer Convertibles stores. The company also has 16 Jennifer Leather specialty stores. The company owned 163 stores and licensed 24 stores.
January 10,
2007 by in UnCategorized
By Home Furnishings Business in High Point on January 2007
Merchandise Mart Properties Inc. has appointed Shannon Lee to the new position of director of leasing for MMPI properties in High Point.
Lee is responsible for the day-to-day leasing of temporary exhibit space for the Suites at Market Square and Plaza Suites, as well as providing service to specific categories of manufacturers. She reports to Walt Goldsby, vice president of leasing for MMPI High Point properties.
Most recently, Lee worked as a sales associate for Rose Furniture in High Point, where she booked more than $1 million in sales annually. Lee also worked for J. Douglas, a major home décor and accessories sales organization, as a sales associate, representing 13 home accessory and gift manufacturers in Eastern North Carolina.
“Shannon’s past experience as a furniture sales representative makes her an ideal addition to our leasing team,” Goldsby said. “Shannon has a unique understanding of the business environment of our current and prospective exhibitors, and therefore can help them maximize their investment in High Point. Both MMPI and our exhibitors will benefit from her knowledge.”
MMPI’s High Point properties include Market Square, the Suites at Market Square, Hamilton Market, Plaza Suites, Furniture Plaza and the National Furniture Mart.