Daily News Archive
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April 23,
2012 by in UnCategorized 
By Aggregated Content in Case Goods on April 24, 2012
from http://www.owensoundsuntimes.com/ArticleDisplay.aspx?e=3542242
Production at Durham Furniture, halted last week after a fire, was to resume today, company officials said Monday.
"Anything can happen but at this point we've run tests, we're running more tests to make sure everything is up and running. Our intentions are to have full production on Tuesday," said Bill Zimmerman, the company controller.
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April 23,
2012 by in UnCategorized
By Home Furnishings Business in Financial Reports on April 24, 2012
Ethan Allen Interiors (NYSE: ETH) reported third-quarter 2012 sales of $175.9 million, an 8 percent increase over prior-year numbers.
For nine-months ended March 31, sales were up 8.6 percent to $544.1 million compared with the first three quarters of fiscal 2011.
Third-quarter net income was way up, with Ethan Allen earning $27.5 million, compared with $3.5 million for the same period last year. Through fiscal 2012's first nine months, Ethan Allen netted $42.4 million, compared with $22.1 million at the same prior-year point.
Retail division third-quarter net sales rose 12.3 percent to $131.4 million including comparable design center net sales growth of 9.4 percent. For fiscal 2012's first three quarters, retail division net sales increased 12.6 percent to $415.7 million, and comparable design center net sales grew 10.2 percent.
"During our third quarter ended March 31 with an 8 percent increase in sales, our said Farooq Kathwari, chairman and CEO of Ethan Allen, Danbury, Conn., noted that third-quarter adjusted net income per share doubled "reflecting continued operating leverage from our vertically integrated structure."
He added that the retail division's written (booked) orders during the quarter increased 11 percent, and were $30 million greater than shipments during the quarter.
"The recession has further accelerated our focus on major initiatives in all areas of our enterprise including a 60 percent change in our product offerings in less than one year," Kathwari said. "In addition, we continue to invest in acquiring talented interior design associates and management in our Retail division. While increasing our expenses, this investment provides an opportunity to grow our sales by enhancing our competitive advantage of providing complimentary interior design services."
Ethan Allen will complete its new-product launch in the fourth quarter.
"In addition, we will launch in June 'Ethan Allen Express,' a new major initiative," Kathwari said. "The objective of this initiative is to expand our reach to more consumers. The program will consist of selected products with good price points and fast deliveries from our five lifestyles. Our plan is to strongly market this program during the next six months. As we stated in our previous press release, while recognizing the uncertain macro-economic conditions, we remain cautiously optimistic due to our many initiatives."
Click here for the complete Ethan Allen Interiors release.
April 23,
2012 by in UnCategorized
By Home Furnishings Business in Markets on April 24, 2012
Dallas Market Center has announced discounted nightly rates at partner hotels during the June 20-26 Total Home & Gift Market.
Hotel rates start as low as $82 per night. All hotels are within seven miles of the Market Center and most offer a complimentary shuttle service. Discounted rates are valid until two weeks prior to the first day of Market and are subject to change according to availability.
Partner hotels include: Crowne Plaza, Doubletree Market Center, Embassy Suites Market Center, Hilton Anatole, Hilton Garden Inn, Holiday Inn Market Center, Marriott Suites Market Center, Renaissance Dallas, and more.
In addition to discounted hotel rates, Market Travel can offer special rates on car rentals and ground transportation from D/FW International and Love Field airports.
For more travel information or to request a quote, please visit the Dallas Market Center Web site.
April 23,
2012 by in UnCategorized
By Home Furnishings Business in Accessories on April 24, 2012
Accessories, lighting, furnishings, wall art and area rug vendor Global Views open a new 13,000-square-foot showroom in AmericasMart Atlanta.
Secured under a multi-year commitment on floor 14 of AmericasMart Building One, the new Global Views corporate showroom is now under construction for grand-opening events scheduled for the July 11-18 Atlanta International Gift & Home Furnishings Market. The showroom creates a major new 14th-floor design-driven resource adding significantly to AmericasMarts large and growing home furnishings and home accents product mix.
Global Views helps define the direction of our growing design-driven product presentation on floor 14, said David Savula, executive vice president in charge of all AmericasMart home and gift leasing for AmericasMart parent company AMC Inc. The scope and depth of its product lines and the unmistakable look and feel of its brand align perfectly with the design environment we are creating on this signature floor.
Global Views joins other home furnishings brands in 14th floor corporate showrooms that include Century Furniture, Currey & Company, Ambella Home Collection, Port 68 and others.
Global Views has had a tremendous run in the Atlanta market with Southern Accessories Today for the last 15 years. Now jumping off and having our own showroom on the 14th floor will offer us the opportunity to show our line in its entirety and also give our new company--Studio A--the presence it deserves in the marketplace, said David Gebhart, Global Views chief executive officer. We are creating a stimulating environment in both Global Views and Studio A to draw increased traffic to our lines during market--as well as day-to-day as we welcome the best designers and retailers from around the world to our exciting new showroom. Everyone in our company is elated by the amazing opportunity our space on the 14th floor in AmericasMart will bring.
The Global Views grand-opening ribbon cutting event will be scheduled for early in the July Market within the new Building One 14-C-1 space. Commitment to the new location coincides with the appointment of Josh Jarboe as National Sales Director and Shawn Johnson-Burns as Key Accounts Manager and Training Manager for Global Views and its sister companies Global Views Direct Sourcing and Studio A. The new sales management team will operate under Jarboe's supervision in the Atlanta corporate showroom.
April 23,
2012 by in UnCategorized
By Home Furnishings Business in Mattresses on April 24, 2012
Mattress vendor Comfort Solutions has promoted Raheel Sadiq to the new position of product innovation coordinator.
In his new post, Sadiq will assume expanded responsibilities for the companys product research and innovation initiatives. He reports to Shoemaker.
Over the last several years, Raheel has demonstrated a real passion for mattress design and for the bedding industry as a whole, said Shoemaker, senior vice president of product development and merchandising. Were very pleased to have increased his role and responsibilities in our overall R&D efforts.
Sadiq joined Comfort Solutions in 2009 as a research and development assistant. Before that he held a similar post for nearly three years at the former Spring Air Company.