Daily News Archive
Brought to you by Home Furnishings Business
June 15,
2006 by in UnCategorized 
By Home Furnishings Business in Delivery on June 2006
MGM Transport has added Indiana, Illinois and Michigan to its direct pick-up service for its current customer base in the Northeast.
“As a direct carrier to the key market regions, we are excited about the opportunities this will afford our customers on both ends,” said Mike Caldiero, vice president of sales and marketing for MGM, adding that the additional service was needed.
Caldiero said the weekly dedicated service will improve transit times, decrease product handling and will result in cost efficiencies.
“Currently we are witnessing such a dramatic shift in our industry, and MGM has taken pride in its ability to react faster than ever, in providing services as the needs for them develop,” Caldiero said.
June 15,
2006 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on June 2006
Office specialty retailer OfficeMax is planning a 100,000-square-foot distribution center in Carolina, Puerto Rico.
The retailer, which has been closing unprofitable stores in the U.S., said the new center will provide immediate access to office supply, technology, paper and office furniture for OfficeMax stores in Puerto Rico. When the distribution comes online, the company will employ more than 500 people in Puerto Rico.
“As the preferred source for office products and supplies in Puerto Rico, OfficeMax is committed to establishing local facilities and resources that will enable us to deliver the best customer experience possible,” said Michael Rowsey, president of OfficeMax—Contract. “This new distribution center provides a foundation for further growth in Puerto Rico, including new retail stores and new resources and services for large, mid-sized and small business customers.”
The distribution center will accommodate 5,000 items comprising the major office product categories selected specifically to meet the demands of OfficeMax customers in Puerto Rico.
OfficeMax has been had stores in Puerto Rico since 1994 and now has 10 stores there.
June 15,
2006 by in UnCategorized
By Home Furnishings Business in Case Goods on June 2006
Canadian manufacturer Shermag reported a $22.7 million (Canadian) loss on $47.8 million in sales for its fourth fiscal quarter of 2005-2006, which ended March 31. For the year, the company lost $30.6 million on $198.8 million in sales.
Sales in the fourth quarter were down 25.1 percent compared to the prior-year period, while sales for the year were off 17.9 percent compared with 2004-2005 results.
Fourth-quarter results included unusual costs of $19.5 million associated with employee severances and asset impairment, as well as costs associated with the acquisition of producer Jaymar.
“Operating results were affected by further weakening of the U.S. dollar versus the Canadian dollar,” said Jeff Casselman, president and chief executive officer. “In addition, the consolidation and transformation of the companies domestic facilities continue to be difficult, and is longer and more expensive than expected.”
Shermag is making progress on several fronts, he said. Those include more aggressive Asian outsourcing, a new 350,000-square-foot finished-goods warehouse, moving glider-rocker production to Asia, and an agreement to produce a licensed furniture line with Metropolitan Home.
June 14,
2006 by in UnCategorized
By Home Furnishings Business in Delivery on June 2006
The third generation of the Cory family is taking over day-to-day operations and responsibility for Cory Home Delivery.
The senior management restructuring puts Joe Cory Jr., Kevin Cory and Patrick Cory at the helm of the company founded by their grandfather in 1934.
Joe Cory Jr., 42, will lead operations in the southeast and southwest; Kevin Cory, 40, is in charge of the mid-Atlantic, northeast and mid-west; and Patrick Cory, 37, will head up the company’s sales, marketing and quality programs.
“This represents the first step in our formal plan to transition the company to the next generation of family leadership,” said Joe Cory, chief executive officer. “(President) Jim (Cory) and I will remain actively involved in the business and guide Joe Jr., Kevin, and Patrick in their new responsibilities. Planning for the continued growth and success of our company, as well as that of our clients, is essential.”
The home delivery company said it continues to grow by adding new retailers to its client roster.
“We look forward to partnering with clients to offer the highest level of service customers expect and deserve,” says Joe Cory. “Joe, Kevin, and Patrick are well prepared to continue the company’s drive for quality and growth.”
June 14,
2006 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on June 2006
Pier 1 reported a net loss of $22.8 million from continuing operations for the first quarter ended May 27
Sales for the quarter dropped 3.6 percent to $376 million from $390.3 million during the same period last year. Same store sales dropped 6.6 percent.
“In mid-March, we launched our brand repositioning campaign featuring Pier 1’s unique Modern Craftsman merchandise, which included new advertising and new in-store visuals intended to mirror Pier 1’s catalogs,” said Marvin J. Girouard, chairman and chief executive officer . “During the first quarter, customer traffic remained weak. We recognize that it will take time to attract new customers and inform our existing customers of the significant changes in our merchandise assortment.”
Girouard said the company expects June comparable store sales to be in the negative low- to mid-teens compared to last year.