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Brought to you by Home Furnishings Business
June 21,
2006 by in UnCategorized 
By Home Furnishings Business in Home Office on June 2006
Ready-to-assemble major Dorel Inds. told shareholders attending Wednesday’s annual meeting that the company is making progress in all product segments.
In the company’s first quarter of 2006, revenues were off 4.4 percent, compared to the prior-year period, to $451 million; while earnings fell 11.1 percent to $24.2 million.
Right now the Dorel is concentrating on productivity and the introduction of higher-margin products to in order to meet cost and competitive challenges.
“RTA in particular has needed and received considerable attention,” said President and Chief Executive Officer Martin Schwartz. “We have been disappointed with our returns in this segment for some time and are working aggressively to turn things around.”
The Ameriwood division, he said, has an integrated plan in place to launch new products, build on strong brands and seek out new customers.
“We have a much wider customer base, plus an enhanced new product development capability which has resulted in a flow of numerous exciting, new products and allows for faster speed-to-market,” he said. “The combination of domestically and offshore production is working well.”
Availability and the cost of particle board have pressured margins, however, and price increases are being implemented and will take effect through the year.
Dorel’s other home furnishings businesses performed well in 2005 and are off to a good start this year. Dorel Asia, which designs and sources furniture, has posted a four year combined annual growth rate of 79 percent in revenue and 66 percent in earnings from operations.
Cosco Home & Office repositioned its furniture business in 2005. Long known for its folding furniture, the division is re-establishing itself as a source of decorative furniture. This focus is expected to provide greater revenue and margin growth. Futons continue to be a strong performer. New models have been developed with value added features.
Dorel Juvenile Group USA has several new product launches planned this year, including higher price points and create higher margins to complement starting price goods.
Dorel Europe will introduce line extensions to its popular Quinny and Loola juvenile travel systems.
Dorel Distribution Canada experienced its first full year with an expanded mandate encompassing most of Dorel’s product segments.
The company also is taking steps to build market share in its bicycle division.
June 20,
2006 by in UnCategorized
By Home Furnishings Business in Accessories on June 2006
Martha Stewart Living Omnimedia has signed a licensing deal that will add lighting and ceiling fans to the home diva’s growing mix of products.
The agreement, which was signed with Quality Home Brands, involves products to be marketed under the brands Murray Feiss Lighting, Sea Gull Lighting and the Monte Carlo Fan Co. Initial products are expected to debut in High Point at the International Home Furnishings Market in spring 2007, to be followed by hardwired lighting later in the year.
The exclusive products will be available through independent lighting and furniture dealers.
Created by the MSLO design team under Martha Stewart’s direction, the new line will be offered in a range of sizes, styles, finishes and price points. It will include indoor and outdoor fixtures, chandeliers, sconces,
floor lamps, table lamps, bathroom lighting and ceiling fans. Products are expected to retail for under $100 and up.
The new line augments MSLO’s expanding home furnishings program, which includes a recent partnership with Federated Department Stores to develop a new line of Martha Stewart Collection home merchandise exclusively for
Macy’s. The lighting will coordinate with the Martha Stewart Signature furniture line with Bernhardt, which is sold at independent furniture retailers and major department stores nationwide.
“Our merchandising business is growing in line with our strategic initiatives,” said Robin Marino, president of merchandising for MSLO. “Lighting and ceiling fans are a vital addition to our assortment. The products will
enhance our Martha Stewart houses with KB Home as well as our furniture galleries across the country.”
June 20,
2006 by in UnCategorized
By Home Furnishings Business in High Point on June 2006
Full-line importer Zocalo is planning a West Coast mini-market for dealers that missed its introductions at April High Point market. The event is scheduled for July 6-7 in San Francisco.
The company will transform several thousand square feet of the photography studio and warehouse at its San Francisco headquarters to make an impressive temporary showroom space.
In that space, Zocalo will display its Revelle, Hampton Library and Madison collections, as well as new items from the Metropolitan Leather Collection.
More information is available at the company’s Web site at www.zocalousa.com/openhouse.
June 20,
2006 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on June 2006
High-end upholstery and case goods manufacturer Baker Furniture will move its headquarters from Grand Rapids, Mich., to North Carolina and build a distribution center in Hickory.
The move will create 70 jobs and involve an investment of $12 million over the next three years, North Carolina Governor Mike Easley announced Tuesday.
After the relocation, all Baker’s U.S. manufacturing operations and most of its administration offices will be in North Carolina. The company also has five existing distribution centers in Hildebran, High Point and Mocksville.
Baker is part of Kohler Co., a privately held company based in Kohler, Wisc., and designs and makes wood and upholstered furniture.
Kevin Ward, president of subsidiary Baker Knapp & Tubbs Inc., said having its operations close to each other has helped the company’s success.
“The state and people of North Carolina have been exceptionally welcoming to our business,” he said.
The company will receive a $76,000 state grant for bringing the jobs.
June 19,
2006 by in UnCategorized
By Home Furnishings Business in Retail Technology on June 2006
Daniel DeLand has been named chief information officer for La-Z-Boy Inc.
In his new role, DeLand is responsible for driving the design and development of information systems and infrastructure to support the company’s strategic business objectives. He reports to Otis Sawyer, senior vice president of corporate operations, who previously held the CIO position.
DeLand, 46, started his career with La-Z-Boy in 1999 as manager application services and, in his most recent position, as director of technical business solutions, was responsible for leading and managing a team of more than 35 IT professionals in aligning processes and various technologies with La-Z-Boy’s operating objectives.
“Having worked for the past 20 years in the IT field, Dan has a wealth of experience,” Sawyer said. “He has been a strong member of our IT team since joining La-Z-Boy, and I have every confidence he will continue to make an outstanding contribution to the company as he understands the importance of information technology in driving efficiency both internally and with the company’s supply chain and retail partners.”
Prior to joining La-Z-Boy, DeLand was a senior systems engineer with EDS. While there, he was a lead project manager and architect of technological solutions for a number of high-profile assignments, including a $9 million project to integrate imaging with optical character recognition and computer telephony technology among several existing systems.