Daily News Archive
Brought to you by Home Furnishings Business
January 2,
2013 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on January 3, 2013
Warehouse retailer Costco Wholesale Corp. (NASDAQ: COST) reported net sales of $11.21 billion for five weeks need Dec. 30, a 12 percent increase compared to $10.05 billion reported in the same period in 2011.
This year's five-week period contained an extra day compared to last year, due to the timing of the New Year's holiday, which positively impacted total and comparable sales by approximately 2 percent.
For the first 17 weeks of its fiscal year ended Dec. 30, the company reported net sales of $34.42 billion, an increase of nine percent from $31.68 billion during the similar period last year.
January 2,
2013 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on January 3, 2013
The National Home Furnishings Association, Western Home Furnishings Association and Home Furnishings Independents Association are merging.
The announcement from furniture retailing's three largest industry associations gathers more than 2,000 businesses representing more than 10,000 storefronts, and comes after months of collaboration among the organizations' three boards. Members will vote on the merger for final approval. Upon sanctioning by the members, the alliance will be named the North American Home Furnishings Association.¨¨This collaborative effort brings the furniture retail industry under one umbrella to create a new resource for furniture retailers.
Current NHFA President Marc Schewel, president of Schewel's Furniture, Staunton, Va., endorsed the merger saying, This move eliminates confusion, competition and duplication of resources. Its a total win for our industry and particularly retailers."
Howard Haimsohn, president of Lawrance Furniture in San Diego and past president of both NHFA and WHFA, echoed Schewel's sentiments: This is an amazing opportunity to pool the strengths of all of these organizations, he said. It brings the best retailers, best minds and best practices together. This is going to be a positive for every aspect of our business.
¨¨Providing a unified voice, the organization will allow those in the industry to work more cohesively as well as increase negotiating power and cost efficiency. Three offices will serve the organization with locations in the East, West and Central United States.
An array of plans include a new Web site, a new publication, launched last spring; enhanced regional interaction, fresh educational offerings, innovative best practices resources and data and opportunities for retailers to get involved.
Each of these groups has something unique and beneficial to contribute," said Steve Kidder of Vermont Furniture Galleries, past chairman of HFIA and a current member of both NHFA and HFIA. "The collaboration gives everyone in the furniture business an exceptional support system.
January 2,
2013 by in UnCategorized
by Home Furnishings Business in Financial Reports on 2013-01-03
Specialty home furnishings retailer Pier 1 Imports (NYSE: PIR) reports that its December same-store sales increased 8.2 percent for the five-week period ended Dec. 29.
The comparable-store sales increase for the same period last year ended Dec. 11, 2011 was 11.3 percent.
"We are very pleased with our December comp store sales results, which reflect strong traffic and an increase in average ticket," said Alex W. Smith, president and CEO. "We experienced momentum in sales throughout the month, including the days after Christmas, and sales were strong across all geographic regions of the country. Importantly, we executed our planned balance of regular and promotional pricing, enabling us to achieve strong store-level margins that were comparable to last year. Our direct-to-consumer business continues to build and performance at our new stores is very strong. We remain confident that the long-term opportunity for growth in both our ecommerce business and our Pier 1 Imports stores is significant. With our holiday clearance event winding down, we are excited about our new spring assortments, which are arriving in stores this week."
The retailer will announce fourth quarter sales for the quarter ending March 2 on March 7. Complete fiscal 2013 year-end results will be released April 11.
January 2,
2013 by in UnCategorized
by Home Furnishings Business in Furniture Retailing on 2013-01-03
Warehouse retailer Costco Wholesale Corp. (NASDAQ: COST) reported net sales of $11.21 billion for five weeks need Dec. 30, a 12 percent increase compared to $10.05 billion reported in the same period in 2011.
This year's five-week period contained an extra day compared to last year, due to the timing of the New Year's holiday, which positively impacted total and comparable sales by approximately 2 percent.
For the first 17 weeks of its fiscal year ended Dec. 30, the company reported net sales of $34.42 billion, an increase of nine percent from $31.68 billion during the similar period last year.
January 2,
2013 by in UnCategorized
by Home Furnishings Business in Furniture Retailing on 2013-01-03
The National Home Furnishings Association, Western Home Furnishings Association and Home Furnishings Independents Association are merging.
The announcement from furniture retailing's three largest industry associations gathers more than 2,000 businesses representing more than 10,000 storefronts, and comes after months of collaboration among the organizations' three boards. Members will vote on the merger for final approval. Upon sanctioning by the members, the alliance will be named the North American Home Furnishings Association.¨¨This collaborative effort brings the furniture retail industry under one umbrella to create a new resource for furniture retailers.
Current NHFA President Marc Schewel, president of Schewel's Furniture, Staunton, Va., endorsed the merger saying, This move eliminates confusion, competition and duplication of resources. Its a total win for our industry and particularly retailers."
Howard Haimsohn, president of Lawrance Furniture in San Diego and past president of both NHFA and WHFA, echoed Schewel's sentiments: This is an amazing opportunity to pool the strengths of all of these organizations, he said. It brings the best retailers, best minds and best practices together. This is going to be a positive for every aspect of our business.
¨¨Providing a unified voice, the organization will allow those in the industry to work more cohesively as well as increase negotiating power and cost efficiency. Three offices will serve the organization with locations in the East, West and Central United States.
An array of plans include a new Web site, a new publication, launched last spring; enhanced regional interaction, fresh educational offerings, innovative best practices resources and data and opportunities for retailers to get involved.
Each of these groups has something unique and beneficial to contribute," said Steve Kidder of Vermont Furniture Galleries, past chairman of HFIA and a current member of both NHFA and HFIA. "The collaboration gives everyone in the furniture business an exceptional support system.