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The Home Depot Posts Net Income of $5.8 Billion

By Home Furnishings Business in on February 2006 The Home Depot reported net income of $1.3 billion for the fourth quarter on quarterly sales of $19.5 billion, a 15.9 percent increase from the same quarter last year.

Comparable store sales for the quarter jumped 5.5 percent.

The home-improvement giant's net income for the year hit $5.8 billion, compared to $5 billion in 2004. Sales for the year hit $81.5 billion, an 11.5 percent increase over fiscal 2004. Same-store sales for the year climbed 3.8 percent.

Company highlights included extending the business beyond the core home-improvement niche by introducing two direct-to-consumer brands that focus on home furnishings, décor and lighting.

The Atlanta-based retailer also opened 179 new stores, including five relocations and opened its 2000th store, including the 54th store in Mexico, during the year.

Haverty Furniture To Release Year-End Earnings

By Home Furnishings Business in on February 2006 Haverty Furniture Companies Inc. announced Monday it's plans to reveal its 2005 earnings on Tuesday and it's intentions to hold a conference call with analysts and investors that same morning.

The company said the call will occur at 10 a.m. on Tuesday, Feb. 21.

Two Web sites -- and -- were listed as options for interested parties to listen to the call live. Those sites and a phone number -- (800) 405-2236 with conference ID 11054256 -- will offer a replay of the call. The Web sites will allow access to a replay until Feb. 28, while the phone number will allow listeners to hear the playback until that date too.

Design Within Reach To Announce 4Q Earnings

By Home Furnishings Business in on February 2006 San Francisco-based contemporary retailer Design Within Reach will announce fourth quarter and fiscal year 2005 financial results Thursday, March 16 after the market closes.

The company will hold a teleconference and Web cast to discuss the results with additional comments and details. The call is set for 5 p.m. EST on March 16, and can be accessed through the Design Within Reach Web site at

Tara Posely, president and chief executive officer, and Ken La Honta, chief financial officer, will participate in the call.

New Fire-Retardant Mattress Standards Pass

By Home Furnishings Business in on February 2006 The U.S. Consumer Product Safety Commission approved a new mandatory standard this week for fire resistance in mattresses sold in the U.S. market.

The commission voted 3-0 Thursday morning to adopt the new standards that will take effect July 1, 2007.

As often occurs in anything from fashion to environmental policy, California was a bellwether – the new open flame standard is largely based on regulations last year in California.

The new standard applies to mattresses manufactured domestically, as well as imported and renovated mattresses.

Jabs, American Furniture Warehouse Recognized

By Home Furnishings Business in on February 2006 A Colorado-based business magazine has named its state's biggest furniture retailer as the largest statewide family-owned enterprise.

In a recent issue of ColoradoBiz magazine, editors ranked Jake Jabs' American Furniture Warehouse the Colorado business with the most employees controlled by a single family still active in management.

For the first time in the four years the magazine has ranked Colorado businesses, Jabs' clan beat out Adolph Coors and Coors Brewing Co. The merger of Coors and Molson to create the Molson Coors Brewing Co. took the beer maker out of contention, ColoradoBiz said.

Earlier this month, the Metro North Chamber of Commerce also honored Jabs as its Businessperson of the Year Award for his business success with his popular retail operation, in addition to his track record of giving back to the community.

"Of course, I am always proud when our contributions and continued growth

are recognized like this, but I have to say that even if we never received

any accolades, providing our customers excellent service and giving back to

the community would always be two of our top priorities," Jabs said in a release issued Thursday. "Not only because doing so is good business - but because it is simply what we love to do."
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