May 18,
2006 by in UnCategorized 
By Home Furnishings Business in on May 2006
Haverty Furniture Cos. has declared a cash dividend to be paid on the two classes of $1 par value common stock payable June 14 to shareholders of record at the close of business May 30.
The rate of the dividend on shares of common stock will be $0.0675, and $0.0625 per share on outstanding shares of Class A common stock.
The Atlanta-based retailer has paid a quarterly cash dividend since 1935 and has increased the dividend paid to stockholders in each of the past 31 years.
May 17,
2006 by in UnCategorized
By Home Furnishings Business in Bedding on May 2006
Bedding major Kingsdown has named industry veteran Jim Ross to the new position of vice president of marketing. He reports to Pat Flippin, president and chief operating officer.
Ross comes to Kingsdown from Sealy, where he spent 20 years in various marketing and sales roles, most recently leading special projects and initiatives. He was also vice president of marketing for Stearns & Foster for seven years, where under his leadership the premium bedding operation grew to more than $225 million in sales, making it the largest premium bedding brand in the United States. Prior to the marketing role, Ross served as sales manager and account manager for six major U.S. markets.
“Jim’s proven success at positioning and selling high-end product makes him an obvious fit,” Flippin said. “We also feel that Jim’s background in both sales and marketing will help give our brand an edge with current and prospective retail partners and consumers.”
Kingsdown makes and markets a wide range of premium bedding products including innerspring, foam and air sleep systems for leading retailers in more than 20 countries. Products include the proprietary DormoDiagnostics system that matches a customer to a bed for better sleep and health. It also offers exclusively to designers its ultra-premium Oscar de la Renta line of bedding.
May 17,
2006 by in UnCategorized
By Home Furnishings Business in Case Goods on May 2006
Martinsville, Va.-based Hooker Furniture said it expects lower fiscal second-quarter sales than previously forecast.
The company said it expects sales for the quarter ending May 31 to be flat to down 2 percent for the quarter. Previously, Hooker was expecting a revenue gain of 3 percent to 7 percent from the year-ago quarter’s sales of $88.7 million.
“A softening in business at retail has dampened our expectations for the current quarter,” said Paul B. Toms Jr., chairman and chief executive. “We believe this decline has been precipitated by rising energy prices and a decrease in housing activity.”
He added that new products, “should help spur an upturn in business heading into the fourth quarter.”
May 17,
2006 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on May 2006
Anders Dahlvig, president and chief executive officer of Ikea Group, will be honored tonight in New York by the Foreign Policy Association with the organization’s Corporate Social Responsibility award.
The award is given to individuals and companies who are committed to good corporate citizenship in the communities they serve.
May 17,
2006 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on May 2006
The Home Depot’s board of directors has authorized actions to provide near-term enhancement for shareholders, which includes the approval of an additional $2 billion to repurchase outstanding shares.
In addition, the company has been given approval for the immediate repurchase of $2 billion of outstanding shares through an accelerated share repurchase program.
With the authorization, the home improvement retailer’s share repurchase authorization increased to $14 billion from $12 billion. Since 2002 and through April 30, the company has returned more than $10.3 billion of cash to shareholders through repurchases, repurchasing nearly 291 million shares.
“The company’s relentless focus on our strategy continues to deliver record results, including our recently announced record earnings per share in the first quarter of fiscal 2006,” said Bob Nardelli, chairman, president and chief executive officer. “The board’s decision today reinforces our confidence in the company’s strategic growth plans and our commitment to generate shareholder returns.”
The Home Depot has entered into an accelerated share repurchase agreement with Lehman Brothers, which will provide for the immediate purchase of about 53 million shares, bringing the total number of shares purchased to more than 344 million, about 15 percent of the outstanding shares since the start of the program in 2002.