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Daily News Archive

Brought to you by Home Furnishings Business

OfficeMax Declares Dividend

By Home Furnishings Business in on February 2006 OfficeMax has announced a regular quarterly dividend of $.15 per common share, payable on April 15 to shareholders of record on April 1.

In addition, the company also declared a regular, semiannual dividend of about $1.66 per share on the company's convertible preferred stock, Series D. The dividend is payable June 28 to shareholders of record June 14.

Sorrow Joins Feizy Rugs

By Home Furnishings Business in on February 2006 Steve Sorrow has joined Feizy Rugs in the newly created position of vice president of design and product development.

Sorrow will be responsible for the management of Feizy's in-house design studio and will also work closely with the company's overseas designers. In addition, he will collaborate with sales staff and clients in the development of client-specific products and will assume primary liaison responsibilities with Feizy's licensors in the areas of design and trend research.

"Although he is a veteran of the industry, his approach to design is always fresh and his excellent rapport with clients allows an environment of creativity to flourish, enabling us to design product that is right for them and for the marketplace as a whole," said John Feizy, owner and CEO of Feizy Rugs.

Sorrow has been designing for more than a decade and a majority of his experience has been within the floor covering industry. Most recently, he held the position of vice president of design and product development at Oriental Weavers of America and prior to that, he worked with Beaulieu Home Fashions/Springs Industries in the same capacity.

WHFA Welcomes New President, Board Members

By Home Furnishings Business in on February 2006 David Harkness, of Tacoma, Wash.'s Harkness Furniture, assumed his newly appointed role as president of The Western Home Furnishings Association last week during a membership meeting held during the Las Vegas Market.

The Tacoma, Wash.-area retailer succeeded Marvin Kerby, of Mesa, Ariz.'s Kerby's Furniture as president of the group's board of directors, a western affiliate of the National Home Furnishings Association.

The WHFA board -- composed of volunteer, independent home furnishings retailers -- also welcomed Taylor Ganz, of McMahan's in Los Angeles, Calif., George Nader, of Nader's La Popular in Gardena, Calif., Keith Koplan, of Koplan's Furniture in Vancouver, Wash. and Ray Nunex, of Furniture Savings Center in North Highlands, Calif. into officer positions.

The group also introduced five new directors to their board. The new board members, unanimously approved by the membership to serve in the year ahead, include Gary Absalonson, of Walker's Furniture Inc. in Spokane, Wash.; Julian Jeppe, of Reed's Furniture in Agoura Hills, Calif.; Angel Lopez, of Dearden's in Los Angeles, Calif.; Andrew Zuppa of American Furniture Warehouse in Englewood, Colo.

Kane's Expanding Footprint In Fla.

By Home Furnishings Business in on February 2006 Kane's Furniture marked the opening of its 18th store in Lakeland, Fla., on Friday.

The retailer's new 60,000-square-foot store includes a warehouse and office space, and is located between the company's stores in the Orlando, Fla. and Tampa, Fla., markets.

Kane's Furniture has a 57-year history in Florida and $35 million in inventory. The retailer's 17 current store locations comprise more than 1 million square feet of furniture retail space in eight major Central Florida markets, including Tampa, St. Petersburg, Sarasota, Port Charlotte, Ocala, Melbourne, Fort Myers and Orlando.

La-Z-Boy To Release Third Quarter Stats

By Home Furnishings Business in on February 2006 La-Z-Boy Incorporated announced this week it will release its third quarter financial results on Valentine's Day, with an investor conference following early the next morning.

On Tuesday, Feb. 14, the leading furniture producer and marketer intends to report its latest financial figures after the close of trading on the New York Stock Exchange. The company also scheduled a live investor conference call for 8:30 a.m. EST on Wednesday, Feb. 15.

La-Z-Boy announced the dial-in phone number for next Wednesday's call will be (877) 407-3140.

The company's second quarter operating results -- released in mid-November -- had the company's net sales at $454.6 million, down $66.2 million, or 13 percent, from the same time period the year before.