Daily News Archive
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October 23,
2012 by in UnCategorized 
By Aggregated Content in Furniture Retailing on October 24, 2012
from http://www.homeworldbusiness.com/links/news/news.php?ID=20605
Williams-Sonoma, Inc.'s younger, hipper home furnishings chain West Elm is branching out, the company has announced. Tomorrow will mark the launch of West Elm Market, a retail concept that will act as "a total home toolkit," the company stated, by providing consumers with product from four critical categories: Kitchen, Garden, Care & Repair and Personal Care.
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October 23,
2012 by in UnCategorized
By Home Furnishings Business in Bedding on October 24, 2012
Mattress vendor Tempur-Pedic International (NYSE: TPX) reported third-quarter 2012 net sales of $347.9 million, off 9 percent from the same prior-year period.
Net sales in the North American segment decreased 14 percent, and international segment net sales increased 3 percent. Tempur-Pedic, Lexington, Ky., had a net loss of $2 million, adjusted to income of $42.3 million to reflect the tax provision recorded in connection with the anticipated repatriation of foreign earnings together with certain transaction costs related to the proposed Sealy acquisition, for the period ended Sept. 30, compared with net income of $61.9 million in third-quarter 2011.
Mattress sales decreased 11 percent globally in the third quarter of 2012, down 15 percent in the North American segment and up 1 percent in the International segment. On a constant currency basis, International mattress sales increased 10 percent.
Operating income in the third quarter of 2012 included $3.6 million of transaction costs related to the proposed Sealy acquisition, as well as a benefit of $8 million related to an adjustment to long-term incentive stock compensation following a re-evaluation of the probability of meeting certain related required financial metrics.
"Changes in the competitive environment that we experienced during the second quarter in North America continued to have an adverse impact on our third quarter performance," said CEO Mark Sarvary. "We recently launched a broad series of new initiatives in response to the new competitive landscape in North America, and while it remains early, we are seeing some stabilization as a result. The initiatives are more expensive than we initially estimated, however we are committed to returning to growth. Internationally, our third quarter results reflect a softening in demand due to macroeconomic weakness in Europe. We remain very confident in our Company's growth potential and our strong brand, and are very excited about our proposed combination with Sealy Corporation. Together, Tempur and Sealy will have a portfolio of highly complementary brands, products, technologies, and geographic footprints that provides a platform for growth."
Tempur-Pedic is lowering its outlook for full year 2012 net sales to approximately $1.4 billion. The company currently expects 2012 adjusted earnings per share of approximately $2.55.
October 23,
2012 by in UnCategorized
By Home Furnishings Business in Executive Changes on October 24, 2012
Luxury mattress brand Pure Latexbliss has named bedding veteran E.B. Walthall vice president of sales North America.
Walthall joined Atlanta-based Pure Latexbliss earlier this year to lead sales for its Eastern division.
Since joining the company, Walthall has used his decades of production and sales leadership experience in the mattress industry to support the company's mission to grow the brand and the latex category. Before joining Pure Latexbliss, Walthall spent seven years as vice president of sales at International Bedding Corp., overseeing the companys largest region. Prior to IBC, Walthall worked as a sales representative and production manager at Simmons Co.
"Industry insiders know that passion is our company's greatest strength and focus is one of our greatest values," said Pure Latexbliss President Kurt Ling. "With these values in mind, it made sense for us to promote E.B. from within because he knows our culture. In addition to his sales leadership skills and broad experience in operations, merchandising, and sales management within the industry, he is a natural coach and mentor to our growing team.
October 23,
2012 by in UnCategorized
By Home Furnishings Business in Internet on October 24, 2012
Private online home furnishings sales site Joss & Main will celebrate The Bombay Co.s return through a series of private sales to Joss & Main members.
The Bombay Co. recently re-launched its line of globally-inspired, classic furniture, home décor and gifts in the U.S. via a redesigned Bombay commerce site. The sale on Joss & Main starting at 11 a.m. EST today features an array of products from faux croc accent chairs classic mahogany poster beds, and marble-topped chests, as well as décor pieces such as vases and luxe mirrored jewelry boxes.
The passion for Bombay is alive and well, said Wil Hollands, president of Hermes-Otto International USA and owner of The Bombay Co. brand. As we expand our business model we are pleased to offer our dedicated customers what they have been requesting--easier access to their favorite Bombay pieces.
Joss & Main prides itself on providing its members with a daily dose of design inspiration and we know that our members will be thrilled to learn that The Bombay Company is back, said A. Mitra Morgan, co-founder and chief curator of Joss & Main. We are delighted to be the first private sales site to offer The Bombay Companys signature pieces.
Joss & Main offers limited-time sales at great prices exclusively to its members. With six to eight new events launching each day, Joss & Mains selection is always changing. Joss & Main will continue to partner with The Bombay Co. to periodically bring its members new and exciting products.
October 23,
2012 by in UnCategorized
By Home Furnishings Business in Bedding on October 24, 2012
Jamison Bedding has named home furnishings veteran Bryan Tickle to the new position of sales representative for North and South Carolina.
Tickle, who reports to Ken Hinman, senior vice president of sales and marketing at Brentwood, Tenn.-based Jamison, most recently was a sales and marketing representative for multiple furniture and mattress producers across those states.
From 1995 to 2011 he served as a senior sales and marketing rep for furniture producer Berkline Corp., covering the Carolinas in addition to southern Virginia, southern Georgia and northern Florida.
Were very excited about Bryans seasoned experience managing retail customers, as well as the sales performance record he achieved over the past 17 years, Hinman said. In addition, his proven capabilities in local advertising and promotion, product merchandising and customer problem-solving will maximize his service to Jamison retailers and help expand our brand and business in those states.
Jamison Bedding operates a mattress factory in Gallatin, Tenn., and serves more than 400 retailers in the southeast U.S. and major hotels and resorts worldwide.