Daily News Archive
Brought to you by Home Furnishings Business
March 22,
2012 by in UnCategorized 
By Home Furnishings Business in Social Media on March 23, 2012
Thelaunch of a new social media program called "Social Extend" highlighted retail buying consortium MEGA Group USA's convention this week in Orlando.
Social Extend, exclusive for MEGA Group USA members, is a turnkey social media program that allows members to have automatic content feeds from manufacturers' Facebook and Twitter accounts posted directly to the social media presence for their store. Members who sign up for the program choose which vendors they would like to receive content and how often. Feeds from these sites are then automatically sent to the dealers' Facebook and Twitter pages providing ongoing informational and relative content to their customers.
For a monthly cost of $99, Netsertive will deliver selected content to retailers' Facebook and Twitter accounts. Netsertive will work directly with dealers to help them build their social media following, determine how much or how little to post, how to highlight holiday promotions and key selling periods and provide guidance on periodic personal posts as needed. Acceptance of the program by members was extremely high with many members signing up for the service at the convention.
"We are excited to bring our members Social Extend," said Scott McFarland, director of information technology for MEGA Group USA. "While social media is extremely important to a retailer's business, we realize that they may not have the time to implement. That's why we launched this exclusive program that will help turn our dealers followers into loyal and repeat customers."
With MEGA Group USA's continuing initiatives in Web marketing, the convention focused on online strategies including having dedicated workshops on Web Advertising, Search Engine Marketing strategies, and the importance of having a Web site featuring MEGA's WebFronts Premium program. WebFronts Premium provides members a robust Web site featuring unlimited product catalog capabilities, advanced merchandising, price tools, unlimited shopping cart, advanced SEO techniques, automated rebate center and product comparison capabilities. MEGA already has hundreds of members signed up on the WebFronts Premium program.
MEGA Group USA's Orlando Convention opened Saturday, March 17, with a user's session for current WebFront Premium dealers and golf tournament for participating members. The day closed with a Welcome Reception for all vendors, guests and members.
Sunday opened with keynote speaker Don Hutson encouraging members to determine their point of differentiation in the market and communicate that to their current and potential customers. Hutson also discussed the importance of leadership and influencing associates in positive ways in order to achieve the most from them. The advertising and online workshops then followed Hutson. Each workshop was packed with the more than 350 businesses in attendance at the show. Hutson addressed the members again at lunch focusing on the importance of motivating and training associates and what are the steps needed to take a potential customer all the way to an advocate for the product.
The afternoon featured panel discussions where members were able to network and discuss best practices, tips, trends and industry happenings. The consumer and appliance members were moderated by Rick Bellows, president of MEGA Group USA and the furniture members by Jerry Honea, COO and furniture division manager. The panels and discussion groups strategized on such topics as retail financing, price tagging methods, floor space allocation, cash flow ideas, computer systems and delivery.
The actual Show opened Monday morning with more than 85 furniture, appliance, electronics, bedding, lawn and garden, and business service vendors in attendance. This year's show featured eight new vendor programs including EnGenX, Fairway One, Human Touch, Life of the South, Mat Tech, Perdue Woodworks, Samsung and Service Lamp. Many of the vendors recorded an increase in sales over the last show including Latex Bliss, Why Not Lease It, Whirlpool and Simmons.
MEGA Group USA also officially debuted their Whirlpool Appliance Gallery at the convention. MEGA first introduced the Gallery at the Las Vegas Furniture Market to visiting dealers but unveiled the full Whirlpool Gallery to the entire dealer base at the convention. In working with Whirlpool, MEGA Group USA is offering this 1,000 square foot appliance gallery featuring all product categories exclusive to their dealer members helping position them as a complete Home Furnishings resource to their customers.
March 22,
2012 by in UnCategorized
By Home Furnishings Business in Financial Reports on March 23, 2012
Home specialty retailer Cost Plus World Market (NASDAQ: CPWM) reported fiscal 2011 sales rose 5.2% to $963.8 million; and net income of $17.7 million, more than triple 2011.
Cost Plus had fourth-quarter net sales of $364.3 million, a 6.7 percent increase compared with the prior year. Same store sales for the fourth quarter rose 7.6 percent on top of a 7.7 percent increase for the prior-year fourth quarter. Net income for the period rose to $36.5 million, compared with $28.5 million in fourth-quarter 2010.
"Fiscal 2011 marked another year of significant progress for Cost Plus World Market," said President and CEO Barry Feld. "Growth in revenue was driven by continued improvement in customer count and our first annual increase in the average ticket since 2007. Notably, we saw acceleration in same store sales growth during the second half of fiscal 2011, culminating in a 7.6 percent comp in the fourth quarter. This momentum has continued into the first quarter of fiscal 2012, reinforcing management's view that Cost Plus World Market is uniquely positioned to capture market share in a value based economy while steadily increasing bottom line profitability."
Cost Plus provided the following outlook for the first quarter of fiscal 2012:
* Net sales in the range of $210 million to $214 million, based on a same store sales increase in the range of 6 percent to 8 percent compared with a same store sales increase of 5.5 percent for the first quarter of fiscal 2011.
* Gross profit as a percentage of net sales in the range of 31.8 percent to 31.9 percent compared with 31.7 percent for the first quarter of fiscal 2011.
* Net loss from continuing operations in the range of $1.6 million to $0.8 million, or $0.07 to $0.03 per diluted share, compared with a net loss from continuing operations of $3 million for the first quarter of fiscal 2011.
The company plans to open one new store during the first quarter of fiscal 2012, and no store closures, compared with no new stores and four store closures during the first quarter of fiscal 2011.
For fiscal 2012 Cost Plus expects:
* Net sales between $1 billion and $1.1 billion, based on a same store sales increase in the range of 5 percent to 6 percent compared to a same store sales increase of 5.4 percent for fiscal 2011. Comparable store sales for fiscal 2012 were measured on a 53 to 53 week basis, while comparable store sales for fiscal 2011 were measured on a 52 to 52 week basis.
* Gross profit as a percentage of net sales in the range of 32.6 percent to 32.7 percent compared with 32.1 percent for fiscal 2011.
Cost Plus aims to open five to 10 new stores and the outlook includes an estimate of eight new stores, including two relocations, compared with five store closures and one relocation during fiscal 2011. As of March 22, the company operated 258 stores in 30 states.
March 22,
2012 by in UnCategorized
By Home Furnishings Business in Executive Changes on March 23, 2012
Trey Whitehead has been named publisher of
Home Furnishings Business, effective April 24.
Whitehead, who joined the magazine in 2008, will succeed Amy Kyle, founding publisher of the trade magazine. Kyle is moving on "to live a fabulous life in San Diego."
Prior to joining
HFB, Whitehead worked in the transportation industry, and most notably at Ryder Transportation where he and Kyle worked together several years.
(Editor's note: He still knows where the bodies are hidden; hit him up for some good Amy stories.)"Trey has been invaluable to the
HFB team since he joined us in April of 2008," Kyle said. "His understanding of both the vendor and retail sides of the business is incredible, not to mention his strong relationships in the industry. Personally, I've known Trey for 25 years. He's a stand up guy, solid to the core, and a hell of a lot of fun. I can think of no better person to lead
HFB into the future. I wish him, and the entire
HFB team, nothing but the best, and I'll always be a member of the team in spirit. I'm proud of what we built and can't wait to see where it goes."
Whitehead said he's excited about the opportunities that lie ahead and looking forward to moving into the future with a strong team in place on the magazine and Web site, HFBusiness.com.
"This is a great industry filled with great people," Whitehead said. "Our team at
HFB will continue to provide relevant content that the industry's retailers have come to love. We appreciate the firm foundation Amy helped build over the last seven years, and I promise the team-Sheila Long O'Mara, Tracy Johnson, Powell Slaughter and Howard Whitman-and I will continue upholding the tradition."
Whitehead lives in Roanoke, Va., with his wife Angie. He can be reached at trey@napco.com or via phone at (540) 520-8183.
Kyle's last day with
Home Furnishings Business falls during the
High Point Market, Tuesday, April 24. She'll be at market, so catch her while you can. Her plans in San Diego include marrying Lee Goodman, president and CEO of
Jerome's Furniture.
Be sure to pick up a copy of the April
Home Furnishings Business at the market. It features Kyle's farewell column and Whitehead's hello column.
March 21,
2012 by in UnCategorized
By Home Furnishings Business in Executive Changes on March 22, 2012
Doug Bassett and Steve Elton have joined the board of governors of women's home furnishings leadership network WithIt.
Bassett, chief operating officer of Vaughn-Bassett Furniture Co.; and Steve Elton, vice president of sales and marketing at Brown Jordan, join other industry executives on the board encouraging opportunity for top female talents in the home and furnishings marketplace.
Continuing their term in 2012 are: Cary Benson, president of sales and marketing, Palliser Furniture; Peggy Burns, "Queen Bee," Circle Furniture; Jerry Cohen, partner with Cohen Tauber Spievack & Wagner PC; Jeff Cook, chief executive officer, A.R.T. Furniture Inc.; Jerry Epperson, partner with Mann, Armstead & Epperson; Jena Hall, president, Jena Hall Design; Caroline Hipple, principal at HB2; Kim Knopf, chief executive officer, Innovative Mattress Solutions LLC; Darlene Leonard, managing partner with Smith Leonard PLLC; Stefanie Lucas, president and chief executive officer, Rowe Furniture; Eddie Massood, president and chief operating officer, Thomasville Home Furnishings of New Jersey; Tom Gattis, chair, Furniture Design at Savannah College of Art & Design; Jason Phillips, vice president and designer, The Phillips Company; Rob Sligh, president, Sligh Furniture, and senior vice president of business development, Lexington Home Brands; Ryan Trainer, president, International Sleep Products Assn.; and Margaret (Peggy) Traub, president and chief executive officer, Adesso Inc.
"Each of our Governors advocates and promotes WithIt and our important work in the business community throughout the year, and we're grateful for their partnership and support," said WithIt Board of Governors Chairman Stephanie Lowder, Rare Bird Creative. "With the help of our volunteer Board of Directors and Board of Governors, WithIt aims this year to increase leadership development, education and mentoring, and create connecting opportunities for our members, businesses, and our shared industries."
WithIt Governors build awareness about and advocate on behalf of WithIt by making recommendations to the Board of Directors; providing access to professionals, resources and business networks; and serving on a task force. Each governor commits to a suggested three-year term; the Board of Governors meet three times a year at times and locations designated at the start of each calendar year.
As WithIt expands its presence in new industry segments, including bedding, and burgeoning regions, the non-profit is accepting additional candidates to serve on its Board of Governors.
"We welcome inquiries from executives who understand the importance of our mission and will strengthen our service in diverse market segments and geographic regions throughout North America," Lowder said.
March 21,
2012 by in UnCategorized
By Aggregated Content in on March 22, 2012
from http://c.moreover.com/click/here.pl?z6150656576&z=1250249027
STARKVILLE About 75 people from furniture companies, suppliers and industry trade organizations from Mississippi and seven other states met on Wednesday to learn about challenges facing them. The crowd of furniture manufacturing representatives sat down at Mississippi State Universitys Franklin Furniture Institute to learn about best practices for the industry. The university-based institute works to sustain jobs and enhance competitiveness of the furniture and home furnishings industry in the state and region. Foreign competition, increased government regulation and other industry challenges have caused many furniture plants to close in Mississippi and other states. From 2005 to 2010, furniture-manufacturing
Read Full Article...