Daily News Archive
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August 29,
2012 by in UnCategorized 
By Home Furnishings Business in on August 30, 2012
Furniture retailer Mor Furniture for Less is opening its fifth store in Washington in time for the Labor Day weekend. The new location is the company's 27th store.
The store, located in Marysville, Wash., opens on the heels of the retailer's three Southern California stores and two in Washington in the last 12 months.
The new store is in a shopping area near a Best Buy, Target, and Costco.
Founded in 1977, Mor Furniture for Less stores are dotted up and down the West Coast in seven states.
August 29,
2012 by in UnCategorized
By Home Furnishings Business in Home Office on August 30, 2012
Upscale bamboo furniture vendor Greenington has a new, permanent showroom in the International Home Furnishings Center for High Point Furniture Market.
The company will exhibit in a 1,912-square-foot showroom located in Space 517 of the IHFCs Hamilton wing.
As weve grown, weve been on the lookout for the right permanent location in the IHFC, said Yang Lin, president. This new showroom is in a very good spot in the big building, where our customers will be able to easily find us.
Lin launched Greenington in 2006 after spending more than 10 years in the production of other high-quality bamboo products. The companys line is produced in China by craftsmen from the finest five-year-old Moso bamboo, said Lin. Since bamboo is a rapidly renewable resource that grows to maturity in five years or less, our line is very sustainable and environmentally friendly.
The bamboo is harvested from managed forests, then treated and kiln-dried to a specific moisture content before heading into production.
Our classic bamboo is 20 percent harder than oak, and our Exotic bamboo is 100 percent harder than red oak, according to Lin.
Greeningtons line features a range of indoor furniture, including bedroom, dining room, occasional furniture, media centers, barstools and decorative screens. Styling ranges from transitional to contemporary, with pricing in the medium to upper-medium range. All products are made of 100 percent solid bamboo, with no MDF, plywood or other wooden material.
The Exotic line features a rich, dark caramelized finish. Other finish choices include dark chocolate, nutmeg and dark walnut, as well as a natural caramelized tone.
At the October market, Greenington will introduce a dining, barstool and occasional collection in mixed media that combines bamboo with metal.
This is an exciting new direction for us, said Lin. Its a very high-end, modern look at an affordable price. As a leader in the bamboo segment, were always trying to give our retailers fresh products and styles to attract new business.
Julie Messner, vice president of leasing for International Market Centers, said Greeningtons decision to lease a permanent space shows a long-term commitment to the High Point Market and its continued growth. Having a permanent showroom will allow Greenington to establish some equity in their location, so buyers know where to find them each market.
August 29,
2012 by in UnCategorized
By Home Furnishings Business in Financial Reports on August 30, 2012
Fabric supplier Culp reported net income of $3.5 million for the first quarter ended July 29, compared with net income of $1.4 million in the same quarter last year.
Net sales for the quarter $69.2 million, up 14.8 percent from the $60.3 million in sales reported in the same quarter last year. The company said sales for the quarter were the highest the company has posted in the first quarter in eight years.
"We are pleased with our first quarter performance, marking a solid start to fiscal 2013," said Frank Saxon, president and CEO. "These results reflect better than expected sales momentum through the summer months in both of our businesses. We have continued to experience a favorable customer response to our outstanding design capabilities and wide range of innovative products. Our flexible and global manufacturing platform has enhanced our ability to develop new and exciting products and meet the changing style demands of our customers.
"We are also pleased that our focus on building a sound financial position and achieving favorable operating results over the past several years has enabled us to return cash to our shareholders in the form of cash dividends and significant share repurchases," he said.
The entire earnings release can be found online.
August 29,
2012 by in UnCategorized
By Home Furnishings Business in Case Goods on August 30, 2012
Solid wood furniture maker Durham Furniture has signed a long term lease for a new showroom in the International Home Furnishings Center in High Point.
Starting at September Premarket, Durham, Durham, Ontario, will show both its Durham and Perfectbalance lines in IHFC-G1082.
Being in IHFC will allow us to see many more of our current customers and many of the stores we would like to partner up with," said Durham CEO and President Gord Dilworth. "We felt that even in these economic times we needed to make the move because of the success of our newest line--Perfectbalance--which has enabled us to open up a number of new customers.
The new showroom also shows our customers that Durham is growing and it is important to be in the heart of the market," said Vice President of Business Development Dave Pinamonti. "Whether its one of our customers from Canada or the U.S., they are already working with many suppliers showing in IHFC. With 9700 square feet we can easily show both the core Durham line and the new Perfectbalance line.
The 113-year-old company makes solid wood bedroom and occasional furniture using centuries-old technique combined with todays technology. Durham products feature its durable Fortress finish.
August 29,
2012 by in UnCategorized
By Home Furnishings Business in Outdoor Furniture on August 30, 2012
Sears Holding Corp. has named luxury outdoor furniture vendor Brown Jordan International a 2012 Partner in Transformation.
Brown Jordan International, the exclusive licensee for La-Z-Boy Outdoor, received the Retail Excellence award for making a significant contribution to the growth of Sears outdoor living business. Brown Jordan International collaborated with Sears to launch a micro Web site on Sears.com, developed a customizable patio program, leveraged its best-in-class product development for exclusive items, and attained a 100 percent on-time shipping grade to achieve the award.
Sears Holdings granted the Partners in Transformation award to a select group of supplier companies who have been helping support the transformation of Sears
Holdings through innovation around customers, core retail excellence and financial and operational discipline. Of the more than 30,000 suppliers that work with Sears Holdings, less than one half of a percent have the privilege of receiving this award.
The Partners in Transformation award recognizes our top-performing suppliers as true partners in change. By providing the quality services, products and experiences that exceed our customers expectations and build lifetime relationships we can reach our companys goal of becoming the leader in integrated retail--in-store, online and in the home, said Lou DAmbrosio, president and chief executive officer of Sears Holdings. Through our continued collaboration, we will be able to more effectively leverage the breadth of our portfolio and the power of our brands.
Winning this award in such a competitive program is truly gratifying, said Chris Carmicle, president of Brown Jordan International. "We were fortunate to have the opportunity to embark on new initiatives that leverage the power of the La-Z-Boy Outdoor brand. Through a customizable patio furniture program available in the La-Z-Boy Outdoor microsite on Sears.com, we were able to offer a broad range of features to consumers for the first time, while delivering the highest quality and shipping all products 100 percent on time. The award is a tribute to the talents of our team members and their ability to deliver both innovative products and superior service.
The Partners in Transformation recipients are selected from nominations submitted by Sears Holdings associates who purchased goods and services from suppliers in 2011.