Daily News Archive
Brought to you by Home Furnishings Business
October 17,
2012 by in UnCategorized 
By Home Furnishings Business in Financial Reports on October 18, 2012
Vertically integrated furniture retailer Ethan Allen (NYSE:ETH) reported net income of $10.1 million for the first quarter ended Sept. 30, compared to net income of $6.8 million during the same quarter last year.
Net sales for the quarter increased 1.4 percent to $187.4 million from $184.9 million during the prior-year first quarter.
The company's retail division net sales increased 5.6 percent to $149.1 million compared to $141.2 reported in the same quarter last year.
"Our competitive advantages arise from providing high quality products of the finest craftsmanship, offering complimentary design service through our 2,000 motivated interior design professionals, giving free local delivery, enhancing our technology in all aspects of the business, and through leveraging our vertically integrated structure," said Farooq Kathwari, chairman and CEO. "While economic conditions continue to be challenging, we remain cautiously optimistic about our future prospects.
The entire earnings release can be read online.
October 16,
2012 by in UnCategorized
By Home Furnishings Business in Special Events on October 17, 2012
Pride Sasser's Chateau Lyon for Century Furniture has won the 2012 Pinnacle for major collections at Monday night's awards dinner at High Point Furniture Market.
Each year the American Society of Furniture Designers' Pinnacle Awards competition honors outstanding product across a range of categories.
Château Lyon was credited for interpreting touches of history for todays more casual lifestyle.
Judges' comments included: "This is a well-rounded range of pieces, many of which are characterized with unexpected details like the delicate inlays. There is an attractive mixture of materials that includes a variety of decorative hardware and authentically aged finish treatments."
Winners in other categories, and judges' comments follow.
* Bedroom: Caracole by Jon Russell Koch for Schnadig International. "The resort-like design makes a dramatic statement and yet is adeptly scaled for a stunning master suite."
* Formal Dining: Arrondissement by Richard Schroeder, Denis Kissane and Gary Hokanson for Stanley Furniture. "The design is impressive in its nice use of wood and striking table top detail. We also applaud the variety of finish tones."
* Motion Upholstery: Brayden by Tom Garland and Paul Zaidman for American Leather. "The clean, contemporary styling provides a graceful silhouette. We admire the ergonomic adjustability of the frame and take notice of the patented mechanism."
* Stationary Upholstery: Varese sofa by Joseph Mallison for Century Furniture. "The shaped lines of the silhouette exude a comfortable grace that is heightened through the multi-pillow back and dressmaker skirt."
* Leather Upholstery: Meridien Series by David Vanderbloemen for Century Furniture. "The handsome curved back detail of the seat is nicely paired with the shaped arm. We also like the decorative saddle stitching detail."
* Occasional Tables: Avalon Heights by Richard Schroeder, Denis Kissane and Gary Hokanson for Stanley Furniture. "The modern design is clean and beautiful with a geometric grid motif expressed in a handsome combination of metal and glass."
* Occasional Storage: Le Papillion chest by Cindy Hall, Erica Wingo for Hooker Furniture. "We love the complex combination of materials that pairs a textural burlap finish with decorative painting. The chest has great proportion of scale to create a fun, cute gem that is pleasing to the eye."
* Youth Furniture: Abby by Taylor West for Hooker Furniture. "The Abby Collection translates good design from a younger to older child at a good price point. The padded headboard gives the group a special glamour."
* Casual Dining: Artisan by Richard Schroeder, Denis Kissane and Gary Hokanson for Stanley Furniture.
"Inspired with a sense of nostalgia, Artisan features a pleasing mixture of materials. The use of woven leather as the seat cover is an unexpected component."
* Lighting: Autumn Twilight chandelier by Danielle Elise Dzurik and John A. Fretz III for Golden Lighting. "The organic shape is very distinctive and unique. We think this delicious design is a great piece of bling for the home."
* Accessories: Gilded Lotus wall decor by Andrew Palecek for Palecek. "The very interesting natural material exudes a glamorous ambience that is chic and eco-friendly."
* Home Office: MIJO by Caryn Donovan for Planum/Mobil Fresno. "The multi-medium form is sophisticated with high-performance functionality."
* Home Entertainment: MIJO by Caryn Donovan for Planum/Mobil Fresno. "The sleek lines of this wall system exude a chic, forward-looking theme in form and functionality."
* Summer/Casual: Elements Collection by Richard Frinier, Martha Lopacki and Greg Robb for Brown Jordan. "This is an especially well coordinated modular group that also suggests an eco quality."
* Green Leaf Award: Brindille lamp by David Kitts, David Martin and Zachary Pyle for Hubbardton Forge. "Hats off to Hubbardton Forge for putting rebar back to work in sophisticated simplicity. The Brindille Lamp represents a very creative and elegant use of a common material. The handforged metal is a perfect medium for the natural twig motif."
October 16,
2012 by in UnCategorized
By Home Furnishings Business in Delivery on October 17, 2012
Specialized Furniture Carriers has elected its 2013 board of directors.
The trade group representing more than 30 companies dedicated to the handling and transporting of furniture is part of the
American Home Furnishings Alliance's Suppliers Division.
Serving as president of the board of directors in 2013 is Patrick Cory of
Cory First Choice Home Delivery, Secaucus, N.J. First vice president is Joe Wade,
Shelba D. Johnson Trucking Inc., Thomasville, N.C.; and second vice president is Amiee Boozer,
Sun Delivery, Thomasville, N.C.
New to the board of directors with terms expiring in 2014 are Ryan Menke,
Styline Logistics, Huntingburg, Ind.; and Mark Fierek,
Manna Freight Systems, Mendota Heights, Minn.
New directors with terms expiring in 2015 are Jeff Murrow,
Murrows Transfer Inc., Thomasville, N.C.; and Ed Long,
Sunbelt Furniture Xpress, Hickory, N.C.
Carl Abernathy,
Northwest Furniture Xpress, Morganton, N.C., will continue on the board with a term expiring at the end of 2013.
Members of the Specialized Furniture Carriers are companies with at least 50 percent of their outbound shipments devoted to furniture. They are distinguished from general commodities carriers by their furniture-specific equipment and skills. Long-term relationships with specific furniture manufacturers are common.
SFC members have access to several transportation-specific AHFA benefits, including a fuel card program offering significantly reduced fuel costs at more than 9,000 truck stops nationwide and a fleet maintenance program providing 10 percent off service fees for roadside assistance and 8 percent off monthly fees for fleet maintenance.
Members of the Specialized Furniture Carriers also participate in AHFAs Annual Supply Chain Conference and have other networking and educational opportunities throughout the year.
October 16,
2012 by in UnCategorized
By Home Furnishings Business in Acquisition on October 17, 2012
Mattress USA has acquired upper-end furniture retailer Carolina Rustica of Concord, N.C.
The combined entities will continue under the Mattress USA organization and will operate three retail stores, two in Michigan as US-Mattress.com, and one in North Carolina under the Carolina Rustica name.
"As our business continues to grow in both the mattress and furniture retail segments, bringing Carolina Rustica into the fold is perfect because of their brand name recognition in high-end furniture and lighting, as well as their similar business model, running a brick-and-mortar retail operation in tandem with a very active Web site" said Joe Nashif, president and CEO of Mattress USA Inc.
With the merger, Carolina Rustica and Mattress USA will represent more than 200 manufacturers in mattresses, furniture, lighting, bedding and accessories. The company will continue to focus on promoting its best-selling brand names like Sealy, Simmons, Serta, Lexington Furniture, Stanley Furniture, and Bernhardt, while introducing consumers to up and coming brands not normally seen on e-commerce sites of their size.
"This was a perfect opportunity for us to capitalize on the experience and resources of a dynamic multi-channel merchant who shares our values. We had reached a point where our growth and expansion plans were actually being hindered by our own infrastructure," said Richard Sexton, who will remain on as president of Carolina Rustica. "By being part of this new organization, we can draw upon their considerable expertise in all aspects of operations, marketing and fulfillment. We will also be able to expand our overall furniture business by leveraging our mutual strengths in the furniture segment."
The company plans to expand the store at Carollina Rustica's Gibson Mill location in N.C., adding 8,000 square feet of retail space by year end. It is anticipated that the merged company will continue to hire at its Brighton, Mich., headquarters as a result of this merger and its own organic growth.
October 16,
2012 by in UnCategorized
By Home Furnishings Business in Financial Reports on October 17, 2012
Upholstery and case goods supplier Flexsteel Inds. posted net income of $2.9 million for the first quarter ended Sept. 30. For the same quarter last year, the company reported net income of $2.4 million.
Net sales for the quarter of $91.2 million, increased 12 percent from the same quarter last year of $81.5 million. Residential furniture sales for the quarter were $72.3 million, a 16 percent increase from the prior-year quarter when sales for the segment were $62.5 million.
The company said its outlook for "moderate top-line growth will continue through the end of calendar year 2012." The company said its "residential growth will continue with existing customers and products, and through expanding (its) product portfolio and customer base."
The entire earnings release can be found online.