Daily News Archive
Brought to you by Home Furnishings Business
December 2,
2012 by in UnCategorized 
By Home Furnishings Business in Community/Charitable Support on December 3, 2012
Home furnishings women's leadership network WithIt is collecting gifts for the Little Smiles charity.
WithIt will hold a Christmas get-together on Dec. 12 at the Chop House in High Point, N.C., to support the effort. Margi Kyle, a WithIt board members and a Virgina/Carolinas regional member, founded Little Smiles in Charlotte, N.C., "to provide toys, games, DVDs, computers, VIP outings, celebrity meet-and-greets, concerts, sporting event tickets, theme park tickets, and so on for children in local hospitals, hospices and shelters; to help children escape their everyday pain and allow them to be a kid again, even if it's for a short period of time."
WithIt asks participants in the Dec. 12 event to bring a gift to donate to this charity. Suggested gifts include coloring books, colors, PlayDoh, boy and girl dolls, games, DVDs. Gifts should not be wrapped, so that nurses and volunteers can pick which items will have the most impact for the individual children. Monetary donations will also be accepted. Checks can be made payable to Little Smiles.
Details for the WithIt "Little Smiles" party, Dec. 12, 6 p.m., Chop House, 4001 Meeting Way, High Point. Members and friends are welcome. Please RSVP to Sara Lyke if you plan to stay for dinner.
December 2,
2012 by in UnCategorized
By Home Furnishings Business in Bedding on December 3, 2012
The Federal Trade Commission has requested additional information from bedding suppliers Tempur-Pedic International (NYSE: TPX) and Sealy Corp. (NYSE: ZZ) in regard to Tempur-Pedic's proposed acquisition of Sealy.
The information request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Because of the request, the waiting period will be extended until 30 days after each company has complied with the request.
In a press release, the companies said they intend to respond to the information request and to continue to work cooperatively with the FTC in connection with this review. Completion of the transaction remains subject to the expiration or termination of the waiting period under the HSR Act and satisfaction of other customary closing conditions. Tempur-Pedic and Sealy continue to expect the transaction to close during the first half of 2013.
December 2,
2012 by in UnCategorized
By Home Furnishings Business in economic news on December 3, 2012
The latest Furniture Insights report shows new orders for furniture rose 10 percent in September compared with the same month last year.
High Point accounting and consulting firm Smith Leonard conducts the monthly survey of residential furniture manufacturers and distributors.
Through 2012's first three quarters, new orders remained up 5 percent over the same period a year ago. Last year at the same point, new orders were up 6 percent over 2010. Smith Leonard Managing Partner Ken Smith said the increase could be a timing issue--while several survey participants reported strong double-digit increases in orders, only 53 percent overall reported increases.
September shipments fell 1 percent from September a year ago.
"Again, we think this was probably also a timing issue" Smith said. "In September 2012, there were only 19 working days compared to 21 a year ago, so that probably impacted the shipping results."
Year-to-date, shipments were up 7 percent, down slightly from the 8 percent reported last month. Through September 2011, shipments were up 3 percent over the same period in 2010.
With orders exceeding shipments for the month, backlogs rose 9 percent over August. Backlogs in September were 13 percent higher than September 2011.
With shipments down 1 percent from September 2011, receivables also fell 1 percent from last September.
"Unfortunately, shipments fell 3 percent from August, yet receivables increased 3 percent from August levels," Smith said. "Since receivable levels have been in line most of the year, we expect that this month's unusual results were a result of timing."
Inventories rose 4 percent from last September, much more in line compared to the 9 percent reported last month.
"Inventories actually fell 5 percent from August," Smith said. "So it appears that inventories are being controlled based on current volume levels."
Factory and warehouse employment rose 4 percent over September 2011 levels; and was up 1 percent over August 2012; results that also appear in line with current conditions.
Factory and warehouse payrolls were flat with September 2011 but up 3 percent over August. Year-to-date, factory and warehouse payrolls are up 6 percent over last year down from a 7 percent increase we reported last month.
"Our latest survey of residential furniture manufacturers and distributors had a few unusual results but we believe some of the results were due to timing," Smith said in summary. "New orders were up 10 percent over September a year ago, but only 53 percent of the participants reported increased orders. But those reporting increases had some significant double digit increases."
Due to fewer shipping days in September this year, Smith believes it's best to focus on the year-to-date results. New orders year-to-date were up 5 percent. Through September last year, new orders were up 6 percent so we seem to continue to move upward.
While the elections are finally over, Smith remains concerned over how Congress will avoid a crisis with the "fiscal cliff."
"Surely they will do something," he said. "We think most of us, no matter the party affiliation, are sick and tired of Congress and the way they are acting. Everything seems to have to relate to politics versus what is best for the country (ok-off the soap box).
"But all of this is affecting business and consumer spending. Hopefully we will see some sort of reasonable compromise in the next few weeks."
He noted that consumer confidence continues to improve, with the Conference Board's Consumer Confidence Index reached its highest point in 4½ years.
"The University of Michigan report also noted their confidence index was at its highest point in five years," Smith said. "So hopefully, if we can get some resolution in Washington, confidence can continue to build.
"Housing also is continuing to improve. Home prices are rising giving people a bit more confidence as well. Interest rates are low. And the GDP is showing positive signs. According to the government reports, retail sales at furniture and home furnishings stores were up 8.4 percent for the first 10 months of 2012. Overall, we have some pretty good things to feel good about. Let's hope we can continue to move forward and Congress doesn't do anything stupid to push us back again."
November 30,
2012 by in UnCategorized
By Home Furnishings Business in on December 2012
As we put the final touches on HFB for 2012, I cant help but hear the song Auld Lang Syne in my head. For me this indicates the end of one chapter and the exciting beginnings of a fresh start in a new year.
Many will sit around and vent on how difficult a year our industry may have had in 2012, but now is the time to plan and focus on the changes you will make in the New Year. As you reflect on what you have done, or not done, in these last few days of the year, scratch a couple of things off your list.
We all had a challenging year; we all did it with less people; we all worked harder than ever before; and we all will be expected to do it again in 2013, but with even better results. Just look around you, ask a friend, they are in the same boat, so you get no bonus points for these items. If you didnt hear it from your boss, let me say it for them, Atta boy or Atta girl.
As the New Year rolls in, a new question will be asked, What have you done for me lately? All quotas, goals and benchmarks have now been set back to zero. So, have you structured a new marketing plan that will help drive traffic to your retail location? Have a few fresh ideas that you are excited about implementing? Maybe this is the year when you finally decide to tackle the Internet and social media thing you have been hearing so much about.
Whatever you do, be sure to try something different. You cannot expect any changes if you arent trying some sort of new approach. We are not the same industry we were just a few short years ago.
In this issue of Home Furnishings Business, we discuss the state of our industry with input from experts and various retailers. They take a peek into the crystal ball and predict what we may expect in the New Year. We also include our 2nd Annual Power 50. The Power 50 is our ranking of home furnishings retailers.
We take into account more than just revenue generated. We put our spin on it by included a popular vote, industry involvement, Klout scores and the editorial teams input. We have been asking you for the past three months for your nominations; then, we opened up the voting polls. Throughout this issue, youll see how the list shakes out.
As you read through the issue, take note of the retailers that made our Power 50 rankings. These retailers are good resources for borrowing an idea or two from for 2013. They made our Power 50 list, so they must be doing something a bit different from the masses, giving them a leg up. Use them as sources for ideas that will help you gain an advantage in 2013.
Thank you all for being a part of our conversations this year. We encourage each of you to continue to send in your e-mails and comments about our coverage of the furniture industry. Its you, the retailers, who help us deliver the best product possible so that we can continue to be the Retailers Choice for Relevant Content.
Happy holidays to you and your families. Heres to a prosperous 2013 for all!
Cheers!
November 30,
2012 by in UnCategorized
By Home Furnishings Business in on December 2012
Theres something rejuvenating and energizing about hanging out in a roomful of smart, creative, excited home furnishings retailers. Typically, with our industry, you can plop a handful of retail thinkers in one room and just watch the powerful electricity bounce around.
Add more than five to the mix, and pure magic can happen; and thats what happened during the first weekend of this month in San Diego. There, tucked away in the Palomar Hotel snug in the citys Gaslamp district, is where the members the Contemporary Design Group and their vendor partners gathered for the annual summit.
If you dont know, CDG is a group of eager, creative retailers with a strong slant toward contemporary home furnishings. Everyone in the industry should be aware of the groupits filled with passionate, independent retailers who put every ounce of themselves into their individual businesses.
Retailers like Lawrence Contemporary in San Diego; Circle Furniture in Acton, Mass.; PerLora in Pittsburgh; La Différence in Richmond, Va.; Contents Interiors in Phoenix; Forma Furniture in Ft. Collins, Colo.; and Hillside Furniture in Bloomfield Hills, Mich.
The list goes on and on.
A couple dozen of their vendor partners joined the retailers in the room for an open discussion that spanned a number of topics, including protecting distribution integrity, protecting the turf of brick-and-mortar retailers, setting MSP guidelines and on and on.
I love a good, open healthy debate; especially one that advances issues toward a solution.
Every year, the first part of December, this dedicated group, convenes to do just that. Sit down, brainstorm ideas, solutions and ways in which the group can create better synergies within the group. The conversations remain civil, but they do get a little loud at times as every one is eager to participate and serve up great ideas.
The meeting is a great way to wrap up a year, and set goals and agendas for a new one. And here we are, at the end of 2012 staring at 2013, which whether were ready for it or not, is coming our wayquickly.
Are you ready? Have strategy meetings been held, and plans for competing in 2013 been mapped? True, December is a busy, busy time for retail, but laying the groundwork for a successful year ahead is imperative. Heres hoping the planners out there managed their meetings last month, and the procrastinators among usme includedhave inked a day on the calendar for big thinking.
As we close the book on this year, weve brought you our annual state of the furniture industry and year-ahead outlook. I wish I could say things are going to be gangbusters and super-fantastic; sit back and enjoy the ride. If I did, my inbox would surely hit overload, and my phone would ring non-stop.
Its still tricky out there and will remain so for some time. The key is to get creative in your approach to your business.
Rely on shared ideas from a smart group of peers. Other retailers have similar experiences to what youre facing; theres no need to recreate the wheel all the time.
Create a network or join onesimilar to the CDGand be willing to share and exchange successful ideas and even the ones that werent successful. We all learn from our mistakes!
Heres to a bright, shining holiday season and a fantastic 2013. I look forward to sharing the new year with each of you.
Enjoy!