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Brought to you by Home Furnishings Business

US Airways Adding Flights to PTI During Market

By Home Furnishings Business in on February 2006 US Airways will boost its operations, adding more flights and larger aircraft to and from the Piedmont Triad International Airport from April 23 through May 4 to accommodate people attending the annual International Home Furnishings Market in High Point, N.C.

The following markets to and from the airport will benefit from the enhanced service: New York/LaGuardia, Pittsburgh, Philadelphia and Charlotte, N.C.

"We're responding to a very specific and very significant passenger demand by once again increasing our service to Greensboro," said Andrew Nocella, schedule planning and alliances senior vice president. "The High Point Furniture Market draws interest from throughout the nation, and US Airways is proud to offer increased options to transport passengers to and from the event."

Sears Holdings Looks to Take Over Sears Canada

By Home Furnishings Business in on February 2006 Sears Holdings Corp., North America's third-largest broadline retailer, expects to mail out its take-over bid circular for all of the outstanding common shares of Sears Canada Inc. this week.

The bid, which excludes shares already held by Sears Holdings and its affiliates, offers Sears Canada shareholders C$16.86 per share. Sears Holdings expects to receive in the next few days the independent formal valuation required to be included in the take-over bid circular. Sears Holdings had announced the offer on Dec. 5, 2005.

Sears Holdings also announced that it will waive the minimum condition of its offer, so that subject to the satisfaction or waiver of the other conditions, Sears Holdings will acquire any and all Sears Canada shares tendered to its offer prior to the expiration date.

Natcan Investment Management Inc. has agreed to tender all common shares it owns or controls to the offer. As of December 5, 2005, Natcan owned or controlled 9,699,862 common shares or approximately 9.06 percent of the outstanding common shares of Sears Canada.

"We are fully committed to moving forward with our offer at C$16.86 per share and purchasing any shares tendered at that price, including those owned by Natcan," said Alan Lacy, vice chairman of Sears Holdings. "We believe that most Sears Canada shareholders will agree that C$16.86 is a fair price and will tender their shares to our offer once it is formally made. We feel it is important to communicate to shareholders that we intend to purchase all validly tendered shares and, while we would prefer to own 100 percent of Sears Canada, we are committed to increasing our ownership through this offer in any case."

Sears Holdings Corp. has close to $55 billion in annual revenues and around 3,900 full-line and specialty retail stores in the United States and Canada.

The Home Depot Names One to Board

By Home Furnishings Business in on February 2006 Angelo Mozilo, chairman and chief executive officer of Countrywide Financial Corp., has been appointed to the board of directors of The Home Depot.

"Angelo is a great addition to our outstanding board, bringing tremendous knowledge of banking, securities, real estate and casualty insurance," said Bob Nardelli, chairman, president and chief executive officer. "He co-founded Countrywide Financial Corp. on the principle that every family in America desiring to achieve the dream of home ownership should have the opportunity to do so."

In addition, Dick Brown is retiring from the retailer's board and will not stand for re-election when his term expires in May. Brown is retiring to meet the increasing demands of his professional responsibilities. He is the former chairman and chief executive officer of Electronic Data Systems Corp.

With the changes, The Home Depot board will consist of 12 members through its annual shareholders meeting in May. The board will include 11 outside directors, 10 of whom are independent.

"We thank Dick Brown for his five years of service and leadership, and his expertise in information technology," Nardelli said.

With these changes, The Home Depot board will consist of 12 members through its next Annual Meeting of Shareholders in May 2006. The 12-member board will include 11 outside directors, 10 of whom are independent, representing one of the highest percentages of independent directors in corporate America.

Petitioners Submit List of Chinese Companies For Review

By Home Furnishings Business in on February 2006 By Powell Slaughter

The group of U.S. furniture manufacturers that petitioned for an antidumping investigation of Chinese manufacturers of wooden bedroom furniture has submitted a list of Chinese companies it believes merit further investigation by the U.S. Department of Commerce.

Through an administrative review process, both the petitioners and Chinese manufacturers can request an audit by DOC investigators. On one hand, petitioners hope the companies they submit for review might receive a new, higher duty rate; while the Chinese companies requesting a review look to lower or eliminate duties on the bedroom furniture they make for the U.S. market.

Currently, most Chinese manufacturers still making bedroom furniture for the U.S. market face a duty of 6.65 percent under the DOC's original investigation, which ended in late 2004. The so-called "all China" rate of 198.08 percent, which affected companies that failed to submit information or were ruled by DOC to have provided insufficient or inaccurate information, or whose information indicated egregious dumping, effectively put those manufacturers – which were supplying approximately 20 percent of the Chinese bedroom furniture in the U.S. market at the time – out of the market.

The petitioner's list includes four companies that were part of DOC's 2004 investigation on the ground in China: Dongguan Lung Dong, currently at a 2.32 percent duty; Dorbest/Rui Feng, 7.87 percent; Lacquer Craft, 2.66 percent; and Starcorp, 15.78 percent.

The DOC is still reviewing incoming requests for administrative review and now has more than 100 such requests, according toe Victoria Park, a public affairs office with the department. The closing date for receiving requests was Tuesday, Jan. 31.

The complete list of companies petitioners would like to see investigated further follows:

1. Conghua JL George Timber & Co.;

2. Dalian Guangming Furniture Co. Ltd.;

3. Huafeng Furniture Co. Ltd.;

4. Dalian Pretty Home Furniture Co. Ltd.;

5. Decca Holdings Ltd. and other affiliates;

6. Dongguan Chunsan Wood Products Co. Ltd.; Trendex Industries Ltd.; Trendex Industries Ltd. BVI; and Kunshan Junsen Furniture Co. Ltd.;

7. Dongguan Landmark Furniture Products Ltd.

8. Dongguan Lung Dong Furniture Co. Ltd.; Dongguan Dong He Furniture Co. Ltd.; and Engmost Investment Ltd.

9. Dongguan Sunpower Enterprise Co. Ltd.;

10. Dongguan Sunrise Furniture Co.; Taicang Sunrise Wood Industry Co. Ltd.; Shanghai Sunrise Furniture Co. Ltd.; and Fairmont Designs;

11. Dorbest Ltd.; Rui Feng Woodwork (Dongguan) Co.; and Rui Fung Lumber Development (Shenzhen) Co. Ltd.;

12. Dream Rooms Furniture (Shangai) Co.;

13. Ever Spring Furniture Co. Ltd.; and SYC Family;

14. Fine Furniture (Shanghai) Ltd. and its affiliates;

15. Foshan Guanqiu Furniture Co. Ltd.;

16. Fujian Senda Foreign Trade Co. Ltd.;

17. Fuzhou Huan Mei Furnutre Co. Ltd.

18. Gaomi Yatai Wooden Ware Co. Ltd.; and Team Prospect International Ltd.

19. Guangzhou Lucky Furniture Co. Ltd.

20. Honest Furniture Co. Ltd.

21. Hung Fai Wood Products Factory Ltd.

22. Jiangsu Dare Furniture Co. Ltd.

23. King Kei Trading Co. Ltd.; King Kei Furniture Factory; and Jiu Ching Trading Co. Ltd.

24. King Wood Furniture Co. Ltd.

25. Kong Fong Furniture

26. Kunwa Enterprises Co.

27. Lacquer Craft Manufacturing Co.

28. Langfang TianCheng Furniture or Huari Furniture

29. Leefu Wood (Dongguan) Co. Ltd.; and King Rich International Ltd.

30. Locke Furniture Factory or Kai Chan Furniture Co. Ltd.; Kai Chan (Hong Kong) Enterprise Ltd.; and Taiwan Kai Chan

31. Meikangchi (Nantong) Furniture Co. Ltd.

32. Nantong Yangzi

33. Po Ying Industrial Co.

34. Profit Force Ltd.

35. Putian Ou Dian Furniture Co. Ltd.

36. Qing Dao Beiyuan-Shengli Furniture Co. Ltd.; and Qing Dao Beiyuan Industry Trading Co. Ltd.

37. Qingdao Shengchang Wooden Co. Ltd.

38. RiZhao SanMu Woodworking Co. Ltd.

39. Shenyang Kunyu Wood Industry Co. Ltd.

40. Shenzhen Shen Long Hang Industry Co. Ltd.

41. Speedy International Ltd.

42. Starcorp Furniture (Shanghai) Furniture Co. Ltd.; and Orin

43. Sunforce Furniture (Hui-Yang) Co. Ltd.; SunFung Wooden Factory; Sun Fung Co.; Shin Feng Furniture Co. Ltd.; and Stupendous International Co. Ltd.

44. Tianjin Sande Fairwood Furniture Co. Ltd.

45. Time Crown (UK) International Ltd.; and China United International Co.

46. Top Art Furniture

47. Transworld (Zhangzhou) Furniture Co. Ltd.

48. Wan Bao Cheng Group Hong Kong Co. Ltd.

49. Wanhengton Nueevder (Furniture) Manufacture Co. Ltd.; and Dongguan Wanhengton Industry Co. Ltd.

50. Yihua Timber Industries Co. Ltd., doing business as New Classic Home Furnishings Inc.

51. Yixinglong Furniture Co. Ltd.

52. Yongxin Industrial (Holdings) Ltd.

53. Zhejiang Niannian Hong Industrial Ltd.

54. Zhongshan Gainwell Furniture Co. Ltd.

55. Zhongshan Golden King Furniture Industrial Co. Ltd.; and King Group Furniture

56. WBE Industries (Hui-Yang) Co. Ltd.

57. All producers and exporters not identified above for which a separate administrative review request has been submitted in a timely manner to the Department of Commerce.

Haverty's Releases January Sales

By Home Furnishings Business in on February 2006 Atlanta-based Haverty Furniture Cos. has reported January sales of $66.9 million, a 1 percent increase over the same month last year.

Same store sales stayed relatively steady with a .1 percent decline. Written orders for January were off by a low single-digit percentage.
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