Daily News Archive
Brought to you by Home Furnishings Business
June 18,
2012 by in UnCategorized 
By Home Furnishings Business in Case Goods on June 19, 2012
Michael Harris has been named president of Legacy Classic Furniture, a position that has been vacant since March when Lee Boone left to join Samuel Lawrence.
"Mike has served Legacy well as senior vice president of sales since 2006," said Kevin O'Connor, president anew CEO of parent company Samson Marketing. "He has always exhibited a real passion for our business, but most importantly he has provided strong leadership to the organization during the recent transition period."
After graduating from the University of North Carolina at Chapel Hill, Harris began his career in the furniture industry as an independent sales representative primarily with Klaussner Furniture. He also held sales management roles with Palliser and most recently was president/partner at Kevin Charles Furniture before joining Legacy Classic in 2006 as vice president of sales.
"Together with Earl Wang, president of Legacy Classic Kids, I am confident that Legacy has the young and vibrant leadership required to prosper and grow the business for many years to come," O'Connor said.
Legacy Classic has offices and a showroom located in High Point.
June 18,
2012 by in UnCategorized
By Home Furnishings Business in Bedding on June 19, 2012
Bedding supplier Comfort Solutions has signed a licensing agreement with Grupo Diveco, the largest mattress supplier in Central America to make and market Comfort Solutions and King Koil beds throughout the region.
Based in Guatemala City, Grupo Diveco supplies bedding to sleep shop chains, furniture and department stores across El Salvador, Honduras, Belize, Nicaragua, Costa Rica and Panama, in addition to Guatemala.
The 41-year-old manufacturer, headed by the Dimitrakis family, also supplies hotel and hospitality businesses in the region along with operating its own Sleep Gallery stores.
"This is very much a 'win-win' situation for both parties," said Owen Shoemaker, who heads up international business for Comfort Solutions and serves as senior vice president of product development. "We're very confident of Grupo Diveco's ability to manufacture and market our products throughout Central America. At the same time, the company is looking forward to leveraging the worldwide awareness and reputation of the King Koil brand at retail and in hospitality markets across its expansive service region."
Grupo Diveco operates a 250,000-square-foot production facility in Guatemala City and makes its own foam, springs and other mattress components. The producer also manufactures its own Olympia-brand mattresses, one of Central America's top bedding names.
June 18,
2012 by in UnCategorized
By Home Furnishings Business in Internet on June 19, 2012
The National Home Furnishings Association and Web4Retail have teamed for a webinar series titled "Effective ROI Strategies for Your Internet Marketing."
The series is based upon results from Web4Retails year-long field project, in which they travelled the country working with various retailers to maximize internet marketing strategies. Web4Retail will share case studies of furniture retailers throughout North America who have grown their Internet offerings and have achieved significant ROI results.
This three-part series will begin with basic Web strategies and continue all the way through to effective e-commerce, social media audience gathering and audience conversion.
What we saw as we were out traveling is that many retailers had various internet strategies, said Denise Keniston, president of Web4Retail. "However when we looked at conversion rates, we found retailers were attracting an audience, but they had no sales and marketing measures to convert them, which lead to a significant loss of opportunities."
NHFA Executive Vice President Steve DeHaan encouraged home furnishings retailer to attend the series.
NHFAs mission to effectively improve profitability within the retail home furnishings community. That is why we are proud to host this webinar series of effective ROI strategies, DeHaan said.
The first webinar in the series will be presented on June 26, 2012 at 3 p.m. (EDT); and again on June 28 at 1 p.m. (EDT). Visit here for more details on the entire three part series.
June 18,
2012 by in UnCategorized
By Home Furnishings Business in Mattresses on June 19, 2012
WithIt and Ergo Bedroom will sponsor Love at First Blush," a panel debate on marketing mattresses to women, at Summer Las Vegas Furniture Market.
The panel, moderated by WithIt President Julia Rosien of Social North, will dive deep into the gender debate in the mattress industry; and takes place at 2 p.m., Monday, July 30, at World Market Center Las Vegas, space C-0176. Ergo Bedroom will host a kiss and make up cocktail reception immediately after the presentation in its Las Vegas Market showroom, space C-0184.
A panel of divided male and female bedding leaders will debatethe truth about finding happiness in bed. Expect engaging banter while Rosien challenges panelists to answer the hard question: Are we satisfying both sides of the bed? Both groups--women on one side, men on the other--are fervent believers that marketings purpose is to deliver on business goals. And both will vie that their gender is the winner.
Panelists include Kim Knopf, a successful entrepreneur and chief executive officer at Innovative Mattress Solutions; Don Wright, chief marketing officer at Wright Global Graphics; and Mark Quinn, segment vice president of marketing at Leggett & Platt.
The industry is hungry for big ideas that will challenge and transform how we market and sell beds to men, women and couples, said Rosien. Our panelists have been challengedgo big or go home.
Las Vegas Market attendees who want to attend this event can register online here. For more information, contact WithIt Executive Director Sara Lyke at 336.880.2188.
June 18,
2012 by in UnCategorized
By Home Furnishings Business in Financial Reports on June 19, 2012
Furniture Brands International (NYSE:FBN) has extended its stockholder rights plan to extend the expiration date from July 30, 2012 to June 18, 2015.
FBI's board of directors also effected other changes intended to update the existing plan.
The stockholder rights plan, first implemented in 2009 and approved by Furniture Brands' stockholders in 2010, was adopted by the board in order to preserve the value of significant tax assets associated with the company's net operating loss carry forwards and certain other tax benefits under Section 382 of the Internal Revenue Code and to protect stockholders against potential acquirers who may pursue coercive or unfair tactics aimed at gaining control of the company without paying a full and fair price to all stockholders.
The company intends to seek stockholder approval of the amended and restated rights plan at its next annual meeting.
Subject to certain exceptions described in the rights plan, any stockholder or group that acquires beneficial ownership of 4.75 percent or more of Furniture Brands' outstanding stock without the approval of the company's board of directors would be subject to significant dilution in its holdings.
The 4.75 percent threshold is intended to reduce the likelihood that a stockholder will inadvertently become a "5 percent stockholder" under Section 382 by providing that there are a sufficient number of shares that a stockholder may inadvertentlyacquire after triggering the rights plan, but before acquiring 5 percent or more of the company's stock.
In addition, at its discretion, the Board of Directors may exempt certain transactions and certain persons whose acquisition of securities is determined by the Board not to jeopardize the Company's net operating losses and whose holdings following such acquisition will not equal or exceed 20 percent of the company's outstanding common stock. The 20 percent threshold is meant to deter any attempt to obtain control of the company in a manner or on terms that are not in the best interests of the company and all stockholders.