March 7,
2012 by in UnCategorized 
By Home Furnishings Business in economic news on March 8, 2012
Furniture retailers ordered 15 percent more furniture in December than in December 2010 per the latest Furniture Insights survey.
High Point accounting and consulting firm Smith Leonard conducts the monthly survey of residential furniture manufacturers and distributors.
Orders have increased in nine of the last 10 months, compared with the prior year, and May 2011 was even with May 2010. December's 15 percent increase also was the fourth consecutive double digit increase compared with the same month a year ago.
New orders rose 8 percent for the 2011 calendar year.
"As we have noted before, some of the increase is a result of price increases but most of those were put in around mid year with most averaging 3 to 5 percent, so we believe the overall increase was real," said Smith Leonard Managing Partner Ken Smith in the survey report. "This 8 percent increase compared to a 4 percent increase for 2010compared to 2009."
Shipments looked good as well, up 17 percent in December over December 2010 and up 10 percent over November. That compares with a 3 percent increase for December 2010 over December 2009. For all of 2011, shipments were up 5 percent over 2010, when they were up 7 percent over 2009.
Backlogs were significantly higher than December 2010, but were down 5 percent from November as shipments exceeded new orders.
"We suspect that shipments of imported products finally started catching up with orders placed a few months ago," Smith said.
With increased shipments, Smith was surprised to see receivable levels fall 2 percent in December.
"We hope this decline was a result of good credit folks versus year end write offs," he said. "Actually, we have been surprised by the number of bad debt write offs, or lack thereof, with this economy. From our conversations, we believe that most companies are being very careful about continuing to ship product when these customers have fallen behind in their payments."
Inventories fell 2 percent from November, probably due to the high level of shipments. For the year, inventories were down 1 percent.
Factory and warehouse employment in December 2011 was 4 percent higher than December 2010 levels; and 1 percent higher than November levels. December payrolls rose 7 percent over
December 2010--somewhat usual with year end vacation and bonuses paid in December.
In summary, Smith said December results are encouraging.
"While month to month comparisons can be skewed due to timing of orders, the good news was that
orders for the year were up 8 percent over 2010 when orders were up 4 percent," he said. "The increase in orders over the last 10 months has been good news for many in the industry.
"Unfortunately, not all of our participants have enjoyed this success as only 67 percent of the participants had increases in orders. On the other hand, another 16 percent of the participants
were only off 5 percent or less, so overall we think 2011 was a nice year considering where we have been."
He added that orders mean little if they don't ship, noting shipments rose 5 percent and backlogs grew nicely; and that the Census Bureau reported a 7.9 percent increase in retail
furniture sales.
"This marked the first time in along time that sales growth in the category did not come out near the bottom of the 13 categories," Smith said, noting that only sales growth at building materials and garden equipment and suppliers dealers (10.5 percent) and auto and other motor vehicle dealers (8.2 percent) had larger percentage growth rates.
"From all we could tell, the Las Vegas Market was well attended with reports that attendance was up quite nicely and exhibitors, for the most part, were pleased with the results of that Market," Smith said. "Consumer confidence has picked up in spite of the negative political ads, negative news from other countries and higher gas prices. We are concerned that the most recent seemingly ridiculous rises in price for gas at the pump is going to start to hurt confidence soon.
"¦ Certainly, business could be better but we think we have come a long way from the hole we were in over the last few years."
March 7,
2012 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on March 8, 2012
Retail buying group MEGA Group USA's Spring Convention this month will focus on online and Web technologies.
The first of two bi-annual conventions runs March 17-20 in Orlando, FL. The second convention is scheduled for Sep. 6-9 in Louisville, Ky.
In Orlando, MEGA Group USA, Germantown, Tenn., will offer educational workshops and training in social media, online advertising, and Web site programs to support an emphasis in online initiatives in recent years.
"Providing our members with hands-on learning sessions and best practices from experts in the social, online and website development fields will prove invaluable to our members," said Rick Bellows, president of MEGA Group USA. "We all know that research proves that the internet is the first place consumers go to learn about a product. We want to ensure our dealers not only understand that, but that we also give them the tools to implement social and online traffic and sales generating strategies."
MEGA Group USA will host several field experts to conduct the workshops. Brian Dick of NetSertive, an online marketing firm that assists small and medium-sized businesses with attracting consumers and increasing sales through its patent-pending online marketing technology, to discuss web advertising including SEM (search engine marketing) and display opportunities.
Jennie Gilbert of RWS, an integrated technology and web design company, will conduct breakout sessions focusing on Web site development and search engine optimization.
Social media expert Jeff Korhan, new media marketer, award-winning entrepreneur, and a top-ranked blogger who helps entrepreneurs and small business owners maximize their Web visibility, will be educating dealers on social media and how it can have positive effects on their business.
The Convention also will include a special presentation from keynote speaker, Don Hutson. Hutson, author, motivational speaker and expert on entrepreneurship, will address the audience on Sunday, March 18 in two keynotes by providing skills on "Teambuilding For Maximum Success"; and "Strategies For Successful Performance Coaching."
MEGA Group USA also will officially debut its Whirlpool Appliance Gallery at the Convention. MEGA introduced the Gallery at the Las Vegas Furniture Market to visiting dealers but will unveil 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.
In addition the Whirlpool Gallery, MEGA Group USA will also be introducing several new vendor programs including Human Touch, MatTech, Service Lamp, Cross Check and Perdue Woodworks.
March 7,
2012 by in UnCategorized
By Home Furnishings Business in Display on March 8, 2012
Mattress manufacturer Pure LatexBliss has launched a line of "sexy stand-out, built-to-order point-of-purchase displays."
Pure LatexBliss, Atlanta, incorporated high-end design, materials and new custom images in the new program Retailers can choose from multiple images, which feature beautiful men and women relaxing on their PureLatexBliss beds.
"Retailers tell us our new displays are at the intersection where Victoria's Secret meets Apple," said Pure LatexBliss Co-Founder and CEO Kurt Ling. "We first displayed the POP in High Point, and our customers confirmed our feelings--that these displays are remarkably high end, distinctive and establish the brand in a very clean, modern and graphically dominant way."
POP materials include single and double sided curved wall dividers along with wall posters. For both, the images are printed on fabric and stretched across metal framing, evoking a sense of art rather than the usual promotional banners. A hanging pillow display and a combined pillow/topper display allow retailers to seize the increasingly growing accessory market, while a bold footboard allows retailers to use mattress samples to create bliss theatre where the consumer relaxes and watches the Pure LatexBliss story on flat screens at the head of the mattress.
"Our ultimate goal is to increase the retailer's average ticket, making their store and our products even more experiential," Ling said. "We strive to be innovators in the sales process and retail experience. We chose to be creative and original in selecting the graphics and materials for our display and I believe it will pay off in a big way at retail."
March 7,
2012 by in UnCategorized
By Aggregated Content in on March 8, 2012
from https://newsdesk4.moreover.com/click/?p=lhxtxtxezambmblzm6l8lbxml2lbxll2xmm6lzlbl8mblzlklnlzljmblhl2xml2m6xelkzbxazlzezlzzzozozmztzmzomlxaz8zozmz2zezmztzhzlzxzt&a=zlzezlzzzozozmztzmzo&f=t6l2xxxz&s=xmlnlzlhxhl8lk&u=lolzxml2l6xzlhloxxtel6loxelzlbm6lzlbl8&c=
Home furnishings retailer Williams-Sonoma (NYSE:WMS) reported a fourth quarter profit of $122.6 million, or $1.17 a share, up from $113.4 million, or $1.05 a share, a year earlier. Revenue rose 6.1 percent from the prior year to $1.27 billion. Analysts...
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March 7,
2012 by in UnCategorized
By Aggregated Content in Furniture Retailing on March 8, 2012
from https://newsdesk4.moreover.com/click/?p=lhxtxtxezambmblzm6l8lbxml2lbxll2xmm6lzlbl8mblzlklnlzljmblhl2xml2m6xelkzbxazlzezlzzzhznzlzozxzemlxaz8zozmz2zezmztzhzlzlz2&a=zlzezlzzzhznzlzozxze&f=t6l2xxxz&s=xmlnlzlhxhl8lk&u=lolzxml2l6xzlhloxxtel6loxelzlbm6lzlbl8&c=
Williams-Sonoma Inc issued a disappointing earnings forecast and announced the retirement of Sharon McCollam, who served as both chief financial officer and chief operating officer.
The news sent shares of the operator of Williams-Sonoma cookware stores and the Pottery Barn furnishings chain down more than 4 percent, and raised concerns about the future of the company without a seasoned retail executive like McCollam.
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