Daily News Archive
Brought to you by Home Furnishings Business
May 3,
2012 by in UnCategorized 
By Home Furnishings Business in Markets on May 4, 2012
Home decor, lighting and furniture vendor Aidan Gray will open its first corporate showroom at Dallas Market Center.
The 3,100-plus-square-foot space, World Trade Center 5-523, will debut during the June 20-26 Dallas Total Home & Gift Market.
Aidan Gray is an industry leader with exceptional quality and detail-oriented products, said Bill Winsor, president and CEO, Dallas Market Center. We are thrilled to have their first corporate showroom in Dallas and look forward to watching their continued success.
We feel like we are coming back to our roots, since we launched nine years ago in a temporary booth in Dallas, said Derrick Ricketts, national sales manager, Aidan Gray. Our new flagship corporate showroom will bring together all the best of Aidan Gray in the strongest presentation nationwide, allowing our retailers a better understanding of what the Aidan Gray lifestyle is all about.
May 3,
2012 by in UnCategorized
By Home Furnishings Business in Community/Charitable Support on May 4, 2012
The South Carolina Furniture Club of the Virginia/Carolinas Home Furnishings Reps Association, held its 9th Annual Spring Briefcase Open April 12.
The golf event at the Mid-Carolina Club in Prosperity, S.C., raises money for various charities.
1st Place winners were: Charles Shealy, Sr., Home Furniture, Christopher Sova, VCHFRA, Bill Dixon, retired sales rep; Sherwood Collins, Sherwood's Furniture Warehouse; and Shorty Tyler, Tyler Furniture.
2nd Place: Dan Anderson, Sunbelt Furniture; Rex Maynard, Maynard Home Furniture; Don Craig, Amindo Mahogany; and Al Tyler, Tyler Furniture.
3rd Place: Jeff Murrow, Murrow's Transfer; Jimmy Eaves, Ashley Furniture HomeStore-Sumter; Paul Kicidis, Huntington House; and Joe Grimaud, Chapin Furniture.
Industry sponsors and participants included Sunbelt Furniture Express, Shelba D. Johnson Trucking, Murrows Transfer, Hoyt-Highfill & Associates, & Wahlquist Management.
The South Carolina Furniture Club gave proceeds from this tournament to: Camp Kemo Summer Camp for Children with Cancer, the Salvation Army, the Palmetto Place Childrens Emergency Center, The Cooperative Ministry, the Oliver Gospel Mission, the Special Olympics, & the Womens Shelter.
To participate in future events with the S.C. Furniture Club, contact Jennifer Sova by e-mail or at 336.285.0194.
May 2,
2012 by in UnCategorized
By Home Furnishings Business in Financial Reports on May 3, 2012
Haverty Furniture Cos. (NYSE: HVT) reported first-quarter 2012 sales of $163.6 million, a 6.1 percent increase over the prior-year period.
The Atlanta-based furniture retailer had net income for the three months ended March 31 of $2.5 million, compared with a loss of $671,000 in the first quarter of 2011.
First-quarter 2012 same-store sales were up 5.7 percent year-over-year.
"We are pleased with the earnings results for the first quarter which were better than our expectations. Our investments in the customer experience, both in the store and on our website, are important elements for our long term profitable growth," said Havertys President and CEO Clarence H. Smith. "During the second quarter of 2012 we will complete the roll out of a new point of sale system that enables our sales associates to more efficiently complete transactions allowing them to further focus on meeting customers' needs. Visits to havertys.com increased over 28 percent in the first quarter of 2012 compared to the same period last year and its recent facelift will be revealed next week to coincide with the launch of a mobile version of our Web site."
He added that the retailer's new "discover something you" television campaign, which began airing in late February, has received praise for a fresh and fun approach to women's personal connections to their furniture.
"We will be spending our advertising dollars in a more specific market-driven and media targeted approach beginning in the second quarter of this year based on in-depth consumer research," Smith said. "March was the first of the monthly "Inspiration Sessions" we are hosting in each of our stores to provide information and empower our customers' desires to rejuvenate their homes. The feedback has been positive and we are strengthening our brand as the furniture retailer for fashion, value, quality and service."
Looking ahead, gross profit margins for the full year of 2012 are now expected to be approximately 52 percent, modestly better than the previous view.
Havertys expects to recognize other income during the second quarter of approximately $400,000 for gains resulting from insured damages caused by a faulty fire sprinkler system at one of its stores.
Selling square footage is estimated to increase 2.5 percent in 2012 based on opening a new store in Baltimore, Md.; entering the Midland, Texas market early in the third quarter; a new location in Dallas; and a replacement store in Atlanta later in the year.
For the second quarter to date delivered sales are up 6.2 percent and written business is flat. Retailers and analysts often combine March and April given the impact of shifts in the Easter holiday and timing of advertising and promotions. For this two-month comparison written business is up 5.4 percent.
Click here for the full Haverty Furniture Cos. first-quarter release.
May 2,
2012 by in UnCategorized
By Home Furnishings Business in Financial Reports on May 3, 2012
Furniture Brands International (NYSE: FBN) reported first-quarter 2012 sales of $287.3 million, a decline of 3.6% compared with first-quarter 2011.
Furniture Brands reported a net profit of $400,000 for the period, or $0.01 per share, compared with a net loss of $3.1 million, or $0.06 loss per share, in the first quarter of 2011.
First-quarter 2012 retail sales at 64 company-owned stores and showrooms totaled $35.5 million, compared with retail sales of $39 million at 65 company owned stores and showrooms in the prior-year period. First-quarter 2012 same-store sales at the 44 Thomasville stores that the company has owned for more than 15 months were even with the first quarter of 2011, following a 17 percent increase in the prior year period.
"We were pleased to report an improvement in operating earnings this quarter as the cost and efficiency initiatives put in place are yielding the intended results," said Ralph Scozzafava, chairman and CEO of Furniture Brands, St. Louis. "We are focused on driving sales by developing relevant product and values that resonate with customers, providing the highest level of service to our dealer partners and improving the performance of our company owned stores. We will do this while staying disciplined on the cost and capital allocation front in order to continue to improve profitability and deliver on our 2012 goal of generating positive free cash flow."
Click here for the entire Furniture Brands first-quarter release.
May 2,
2012 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on May 3, 2012
The Burlington Furniture Co., Burlington, Vermont will host the annual Contemporary Design Group Sales Management Meeting, June 19-21, at Stowe Mountain Resort.
CDG is a national association of independent home furnishing stores specializing in modern and contemporary design. Since joining the group a little more than year and a half ago, The Burlington Furniture Company has benefited immensely by being part of this prestigious networking, performance and buying group.
Being part of the CDG has enabled us to leverage the power of the group and allow us to be a leader in this category in Vermont, said Mark Binkhorst, president.
The Burlington Furniture Company was founded in 1984 as the Burlington Futon Company. The focus has changed from a store that specialized in futons and sold some furniture to now specializing in modern and contemporary furniture. The 15,000-square-foot showroom is in an old maple syrup plant on Pine Street in Burlington.
The store is in its fourth year of double digit growth and has been voted the area's Best Furniture Store in both 2010 and in 2011.