Daily News Archive
Brought to you by Home Furnishings Business
March 26,
2006 by in UnCategorized 
By Home Furnishings Business in on March 2006
Therapedic Inc. grew its network of partners recently with the addition of a new mid-western licensee that will create its product, the company said this week.
The bedding manufacturer announced on Monday the signing of Eastman House, of Sweet Springs, Mo., as the 17th partner to join with the bedding company in its domestic network.
Eastman House will produce the entire line of Therapedic Sleep Products bedding products, company representatives said.
"This signing gives us a greater definition of coverage in the middle of the country," said Therapedic President/CEO Gerry Borreggine. "In addition, we've added a strong facility, managed by quality people," he said.
March 23,
2006 by in UnCategorized
By Home Furnishings Business in on March 2006
Quaker Fabric has amended its five-year, senior secured credit line and has hired a financial consulting firm for advice on its financial situation and its operating plans.
Last week, the Fall River, Mass.-based fabric supplier reported a delay in filing its 2005 annual report with the Securities Exchange Commission to allow more time to work with its lenders to address two items of default under terms of the credit agreement.
Additionally, the company announced Friday morning that its vice president of supply chain management and its vice president and chief information officer have been fired.
The company did not elaborate on why Mark Hellwig, former vice president of supply chain management, and Norman Sturdevant, former vice president and chief information officer, were terminated.
James Dulude, vice president of manufacturing, and Duncan Whitehead, vice president of research and development, have assumed Hellwig's duties. Paul Kelly, vice president of finance and chief financial officer, has taken over Sturdevant's responsibilities.
"I am pleased to report that we have reached agreement with our lenders on a waiver of those specified defaults and certain other changes to our loan documents," said Larry Liebenow, Quaker's president and chief executive officer. "With this waiver and amendment in place, we are no longer in default under the terms of our loan documents. We believe that this waiver and amendment provides the time and financing for the company to continue its restructuring initiatives."
Liebenow said the company is operating normally and is updating its "financial and operating plans with the assistance of the financial consulting firm we have retained."
March 23,
2006 by in UnCategorized
By Home Furnishings Business in on March 2006
The largest bedding manufacturer in the world announced this week its plans to turn over the keys of their racing car to a 17-year old open-wheel star.
Sealy Inc. said Thursday it will sponsor Alan Sciuto, an up-and-coming teenage racing phenom, in the Champ Car Atlantic Championship Series for seven upcoming races this year.
The auto racing series is often considered the top developmental open-wheel racing series in North America. Successful drivers often move onto the Champ Car or Indy Racing League.
The Sealy Posturepedic Atlantic car will be raced in the U.S., Canada and Mexico by Sciuto, a California-native who has already had success on the kart racing scene.
"I'm very proud of the sponsorship from Sealy and excited about the opportunity this year to compete and do my best," Sciuto said.
March 22,
2006 by in UnCategorized
By Home Furnishings Business in on March 2006
A familiar name in the furniture industry plans to retire this summer.
Rod Kush, president and owner of Rod Kush's Furniture in Omaha, Neb., is hanging up his retail hat to spend more time with his family after 18 years in the business.
His namesake furniture stores in Omaha, Lincoln, Norfolk and Fremont, Neb., are all scheduled to close July 1. Kush plans to continue to work with his Rent-to Own, Cash Advance and furniture consignment businesses.
Kush said he has been talking with another company interested in buying the four stores.
Kush, a former NFL player who played for the Buffalo Bills and later retired from the then Houston Oilers in 1987, started in furniture retail by opening a consignment furniture store. He later expanded his enterprise to include new product and continued to open stores offering a complete selection of product.
March 22,
2006 by in UnCategorized
By Home Furnishings Business in on March 2006
In response to increased demand from its retail client base, FurnitureFan is introducing the Internet Strategy Services division.
FurnitureFan will work in tandem with Impact Retail Performance to provide a strategic approach for home furnishings retailers in attracting consumers that are searching online for furniture.
The program targets the specific trade area of the client store, and based on extensive research, targets consumers who are a demographic and psychographic match to the lineup of the client store. It offers a comprehensive approach, and makes use of keywords, search engine strategies, and online advertising tools.
"In our beta samplings throughout the country, we have seen results that come in far below the average cost of acquiring a consumer," said Sev Ritchie, president of FurnitureFan. "In most cases, stores participating appropriated existing advertising dollars away from lesser performing expenditures, like yellow pages, and applied the dollars to this program. They have been extremely pleased with their results."
Ritchie acknowledges that the number of search engine marketing firms, but the Internet Strategy Services division takes a different approach by using the needs of the furniture industry and its consumer.
"FurnitureFan has seven years of experience in this forum, and Impact brings more than 30 years of industry analysis to the table," Ritchie said. "We know the home furnishings consumer from all sides and have developed this to specifically address the aspirations of the consumer and match them to their local store."
FurnitureFan research shows that 46 percent of consumers use a search engine before going to a local furniture store, Ritchie said.
"Home furnishings retailers need to ensure they are in front of the consumer when the consumer is seeking them out," he said. "We have instituted this program in conjunction with the FurnitureFan directory listing for retailers and our existing service offerings."