Daily News Archive
Brought to you by Home Furnishings Business
June 26,
2006 by in UnCategorized 
By Home Furnishings Business in Upholstery on June 2006
Fabric supplier Culp reported a fourth quarter net loss of $1.53 million for the quarter ended April 30 from a net loss of $7.73 million during the same quarter last year.
Sales for the quarter were $70.7 million, down from $74.2 million during the same period last year. The company said it expects first quarter sales to decline slightly more than the 4.7 percent decline in the prior quarter.
For the year, the company reported net sales of $261.1 million, compared with $286.5 million last fiscal year. Net loss for fiscal 2006 was $11.8 million, compared with a net loss of $17.9 million for fiscal 2005.
Excluding restructuring and related charges, net loss for fiscal 2006 was $438,000. Excluding restructuring and related charges and goodwill impairment, net loss for fiscal 2005 was $3.4 million.
“The fourth quarter of 2006 was a defining point for Culp,” said Rob Culp, chairman of the board and chief executive officer. “Our improved financial and operating results reflect the benefits of the aggressive steps we have taken this year to more effectively position Culp in the dynamic global marketplace. We are pleased with the return to a quarterly operating profit in the upholstery fabrics segment after a challenging two-year period of quarterly operating losses. Overall, we believe we have made significant progress over the past year in transforming to a leaner and more agile business model.”
June 25,
2006 by in UnCategorized
By Home Furnishings Business in Case Goods on June 2006
Ron Ainsworth has been named to the newly created position of vice president of marketing for Emerald Home Furnishings.
In his position, he will play a key role in the company’s ongoing growth, including product development and overseeing all facets of Emerald’s marketing functions. He will also work with selected existing and targeted key accounts.
Prior to joining the company, Ainsworth was president of Leggett & Platt’s Fashion Bed Group division. He left the post in August and spent time traveling.
“It’s an honor to have someone of Ron’s stature to join Emerald,” said David Beckmann, president. “Ron’s addition reinforces Emerald’s commitment to reinvest all of our resources to support the furniture industry.”
June 25,
2006 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on June 2006
Four-store HW Home has been selected by the editors of
5280, a Denver magazine, as one of the top places in the Denver area to shop for furniture.
Owned b by Ron Werner and Jim Herring, HW Home specializes in an upscale, casual feel and sells product from Hickory Chair’s Thomas O’Brien collection and an array of product from Mitchell Gold + Bob Williams.
The magazine writes that the duo uses its “well-trained eyes to make sure every piece—from oupholstery piping to Greek key ornaments—is up to designer standards. Both traditional and contemporary furniture get the final flourishes they deserve.”
Magazine readers compete surveys and select their favorite retail establishments, restaurants, night clubs and the like for the annual issue.
June 25,
2006 by in UnCategorized
By Home Furnishings Business in Casual Dining on June 2006
Casual dining and home entertainment furniture importer APA Marketing will use the Las Vegas market to start marketing its core casual dining goods under a new brand, Entre Casual Dining.
APA Owners Al Schwerin and Paul Coscarelli said that since the company has gotten national distribution, the time was right to put the APA Marketing name in the background and introduce the new Entre brand.
The move puts the casual dining on the same marketing course as APA’s successful Encore Home Entertainment division.
“With the high double-digit growth of the Encore home entertainment line, we felt it was time to bring the dining division up to speed with great new styling and finishes, and separate ourselves from the low-end looking product that you see out in the field,” Schwerin.
“With our move to our new state of the art facility in Henderson, Nev., complete we were able to concentrate fully on this new and exciting upgrade for us,” Coscarelli said. “We have been testing the waters with new and unique collections over the past nine months with great success, so now was the right time to bring out Entre Casual Dining.”
The Entre Casual Dining/Encore Home Entertainment showroom in Las Vegas is Space 1016 in the World Market Center.
June 25,
2006 by in UnCategorized
By Home Furnishings Business in on June 2006
Harvey Dondero has resigned as president and chief executive officer of Broyhill Furniture Inds., a full-line division of Furniture Brands International.
Dondero had run Broyhill since coming to the company in April 2005 from the top post at Universal.
“In resigning Harvey cited concerns regarding reporting responsibilities, authority, and duties,” said Mickey Holliman, FBI’s chairman and chief executive officer.
Dondero confirmed in a telephone call that he’d resigned due to “differences in opinion.”
Tom Foy, president and chief operating officer for FBI will serve as interim day-to-day head of Broyhill.
“Tom has been overseeing the operations at Lane since mid-2005 and he will continue in that role as well,” Holliman said. “Tom has the proven ability to generate outstanding sales growth and earnings performance, and I know Broyhill will benefit from his oversight.”