Daily News Archive
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July 30,
2012 by in UnCategorized 
By Aggregated Content in on July 31, 2012
from http://www.huffingtonpost.com/2012/07/31/consumer-confidence-in-economy-increased-july_n_1724154.html
Americans breathed a bit easier about the economy in July, as a better outlook on short-term hiring and lower gas prices offset lingering worries about poor income growth.
The Conference Board said Tuesday that its Consumer Confidence Index increased to 65.9, from 62.7 in June, the first increase in five months. That's the highest reading since April and better than the reading of 62 that economists had foreca
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July 30,
2012 by in UnCategorized
By Home Furnishings Business in economic news on July 31, 2012
After dropping in April, retailer orders for furniture rebounded in May, according to the latest Furniture Insights report.
New orders in May rose 10 percent compared with the same month last year, and increased 17 percent compared with April. High Point accounting and consulting firm Smith Leonard produces the monthly survey of residential furniture manufacturers and distributors.
The 10 percent increase in May (after the 13 percent decline in April) was not enough to bring the year-to-date increase back up to the 8 percent increase reported in the first quarter.
The May increase in orders was expected, said Smith Leonard Managing Partner Ken Smith.
"Orders through the March 2012 quarter were up 8 percent so while the timing of Market did have some impact, the results confirmed what we had been hearing about the slower business conditions in April and May," he said. "The good news for this report is that shipments remained fairly strong with May shipments up 7 percent over May 2011. Obviously shipments turn eventually to cash so that is a good thing. Year-to-date, shipments are now up 9 percent over the first 5 months of last year.
May shipments rose 7 percent from May 2011 and 8 percent from April.
"This increase reduced year-to-date shipments from an increase of 10 percent reported last month to a 9 percent increase for the first 5 months of the year," Smith said.
Backlogs dropped slightly (less than a half-percent) as shipments exceeded orders for the month. Backlogs were up 5 percent over May of 2011, up from 3 percent last month, due to the low order rate in April.
"In March, backlogs were 18 percent higher than March 2011, so clearly the continued increase in shipments compared to order rates is bringing backlogs down significantly," Smith said.
Receivables rose 1 percent over last year despite the 7 percent increase in shipments. Receivables increased 2 percent from April even though shipments were 8 percent higher in May versus April.
Inventories were up 3 percent from April and were 8 percent higher than May 2011, compared with a 6 percent increase for April 2012 versus April 2011.
"While the increase in inventories is not out of line with the increase in shipments, we will need to keep a close eye on inventories with the decline in orders," Smith said.
Factory and warehouse employees increased 4 percent over May 2011, down from a 6 percent increase reported last month. The number of employees fell 1 percent from April, so the number of employees could reflect softer business.
Factory and warehouse payrolls rose 3 percent over May 2011 down from an 8 percent increase comparing April to April.
"With shipments exceeding orders, backlogs have come down significantly," Smith noted in summary. "In March, backlogs were 18 percent higher than March 2011. Backlogs in May were only 5 percent higher than May 2011 so eventually we will see shipment increases decline if orders do not pick up pretty soon.
"Receivable levels remained in good shape. Inventories were up 8 percent over last May, not really out of line with shipments and earlier orders, but will need to be watched if business continues to soften. From what we have heard from most, we do not expect to see significant improvements in the June numbers. We seem to be just moving along somewhat like the economy, which does not have many bright spots."
Smith did identify one bright spot: housing.
"While the newsmakers talked about the slowdown in existing home sales, most failed to mention that some of that was caused by a shortage of homes for sale in parts of the country," he said. "This appears to be causing home prices to start back up. Once homeowners think the market has improved, we may see more come on the market, though it is doubtful these prices will return to pre-recession levels.
"Housing starts and completions and new residential sales are also on the rise especially compared to a year ago. This could really help stabilize the economy as that puts more people in a wide variety of jobs back to work."
A 24-hour news cycle blasting consumers with worldwide problems, though, is hampering consumer confidence.
"We can't even switch to sports talk radio now without hearing all the bad news from Penn State et al. No wonder consumer confidence is down," Smith said. "Hopefully housing can continue to be a bright spot in the economy. That will go a long way towards improving the overall economy. Now, back to some more political ads that really make you joyous.
July 30,
2012 by in UnCategorized
By Home Furnishings Business in Accessories on July 31, 2012
Art vendor Classy Art Wholesaler is using a new software system at the Las Vegas Market that allows easier, more accurate order taking and processing.
The system allows customers to grab a mobile computer-phone like device-and scan in items they wish to order. Once complete a copy of their order is waiting at the front desk.
The company said the technology will allow most orders to be delivered to the customer's business prior to their return.
"We have been developing this software for over nine months now, and it has been one of the greatest additions to Classy Art during my time here," said Gabriel Cohen, vice president of sales and marketing. "The time savings from eliminating the manually typing in of orders has been great, and the absence of human error has been even better. Our customers seem to really like the ease of use, and they seem to be pleased with ordering on their own. However, they have yet to experience the greatest part. I can't imagine the delight they will experience when they return home and their order is already there waiting on them."
The system has more functionality than just at the customer level. In the office, administration receives reports on any raw materials nearing depletion to ensure inventory levels are appropriate to ship orders complete and on time.
"So far the system has been a blessing, and we are looking forward to growing its capabilities in the future," Cohen said.
July 30,
2012 by in UnCategorized
By Home Furnishings Business in Advertising on July 31, 2012
Bedding protection vendor Protect-A-Bed has launched an ad campaign on Londons massive underground Tube network as the world arrives for the Olympic games.
The ad campaign comes on the heels of the companys recent expansion into India.
Protect-A-Bed is quickly becoming the top-of-mind brand for consumers when they think of protecting their mattress and creating a healthy sleep environment, says James Bell, CEO of Protect-A-Bed, Chicago. The enthusiasm for our products has been overwhelming and were hopeful the ad campaign will broaden this awareness further.
The London underground ad features Protect-A-Beds healthy sleep zone solutions and a map highlighting the companys reach in 35 countries. The ad also has a Quick Response code, directing people to a television ad highlighting the product features and benefits.
Protect-A-Beds ad will be featured in more than 2,000 train carriages during a 4-week campaign lasting the duration of the Olympics. Eighty percent of visitors to London, estimated at 8 million people, will use the Docklands Light Railway, one of the places where the ad will be.
Since launching in the UK and Europe four years ago, Protect-A-Bed has grown dramatically, building a market presence in diverse sales channels such as hospitality, retail, healthcare, and pest control as well as building a presence in Europe, says Simon Zamet, Managing Director of Protect-A-Bed Europe. One of the many things that make Protect-A-Bed special is how we connect with our consumers. The London Olympics represents a once in a lifetime opportunity to reach our customers and support our trading partners across the globe in a very high profile way.
Bell says the entire company is excited about the campaign.
Its an incredible time to be in London and to think that our ad is featured there is just amazing, he said.
July 29,
2012 by in UnCategorized
By Aggregated Content in Furniture Retailing on July 30, 2012
from http://www.tulsaworld.com/business/article.aspx?subjectid=53&articleid=20120728_53_E1_CUTLIN646599&rss_lnk=5
Tulsa's biggest furniture store is about to get bigger - a lot bigger. Mathis Brothers Furniture Superstore in southeast Tulsa is working on a 100,000-square-foot expansion that will increase the size of its retail and warehouse space.
"We've been here 11 years now, and business has been good to us," said store manager Chris Mefford. "We just decided that we're going to add more space." The project could also add 75 to 125 jobs at Mathis by the time the expansion is complete.
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