February 28,
2012 by in UnCategorized 
By Home Furnishings Business in on February 29, 2012
Multi-channel retailer Costco reported net income of $394 million for the second quarter ended Feb. 12, a 13 percent increase compared to net income of $348 million posted in the same quarter last year.
Net sales for the quarter climbed 10 percent to $22.51 billion from $20.45 billion reported in the second quarter last year.
Net sales for the first six months of the year increased 11 percent to $43.69 billion from $39.27 billion posted in the first six months of last year. Net income for the first half was $714 million, an 8 percent increase compared to net income of $660 million in the first half of last year.
The retailer also reported net sales of $7.04 billion for the four weeks ended Feb. 26, a 10 percent increase from $6.38 billion in the same four-week period in the prior fiscal year.
The entire earnings release can be found online.
February 28,
2012 by in UnCategorized
By Home Furnishings Business in on February 29, 2012
Consumer confidence started its climb out of the depths reached during the last recession as employers step up hiring and stocks rally, signaling Americans may be poised to increase spending.
The Conference Board released its Consumer Confidence Index Tuesday for this month showing a significant jump from January. The Index now stands at 70.8, up from 61.5 in January. The Present Situation Index increased to 45.0 from 38.8, and the Expectations Index rose to 88.0 from 76.7 in January.
Consumer confidence, which had declined last month, posted a sizeable improvement in February, said Lynn Franco, director of The Conference Board Consumer Research Center. The Index is now close to levels last seen a year ago (Feb. 2011, 72.0). Consumers are considerably less pessimistic about current business and labor market conditions than they were in January. And, despite further increases in gas prices, they are more optimistic about the short-term outlook for the economy, job prospects, and their financial situation.
Consumers assessment of current conditions was more favorable in February. Those claiming business conditions are good increased slightly to 13.3 percent from 13.2 percent, while those claiming business conditions are bad decreased to 31.2 percent from 38.3 percent.
Consumers appraisal of the labor market was also less pessimistic. Those stating jobs are plentiful increased to 6.6 percent from 6.2 percent, while those saying jobs are hard to get decreased to 38.7 percent from 43.3 percent.
Consumers were also more optimistic about the short-term outlook than they were last month. The proportion of consumers expecting business conditions to improve over the next six months increased to 18.7 percent from 16.7 percent, while those anticipating business conditions will worsen decreased to 11.8 percent from 14.6 percent.
February 28,
2012 by in UnCategorized
By Aggregated Content in Store Openings on February 29, 2012
from http://c.moreover.com/click/here.pl?z6007823802&z=1250249030
High-end furniture manufacturer and retailer Stickley Furniture plans to open its first New Jersey store in Paramus.
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February 27,
2012 by in UnCategorized
By Home Furnishings Business in Special Events on February 28, 2012
The International Home Furnishings Representatives Association will honor Marty Sobel of the Midwest Furniture Club with the Rudy Steltemeir Award.
The annual award, which recognizes exceeding the "call of duty" as an IHFRA member and sales representative, is named for Rudy Steltemeir, a Tennessee sales representative for 66 years who passed away in 1993 at the age of 92; and credited for helping many representatives' success. The "Rudy" award honors an IHFRA member who has demonstrated the qualities of outstanding service to fellow representatives as exemplified by Steltemeir.
Sobel has been an active member of IHFRA for more than four decades. He began his career as a representative in the apparel industry in 1963 and moved on to the furniture industry in 1965. He has served as president of the Midwest Chapter for three terms, and has held numerous other offices in his tenure. He was first member of Midwest Chapter to be awarded the Dean of IHFRA Award, and was twice awarded the Midwest Presidential Service Award. He has started a mentoring program for new sales representatives at each factory that he represented.
While serving as President of the Midwest Chapter, Marty started the Bill Krause Memorial golf outing, raising funds for the school for the hearing impaired in Illinois. His fellow representatives describe Marty as a caring family man who is the mortar of the Midwest Chapters foundation. Marty has been married to his wife, Marilyn, for 49 years and has three children.
Sobel will receive the award at the IHFRA Presidential Gala and Awards Dinner in High Point on Friday, April 20, at 6 p.m. in the IHFC Ballroom. For more information, contact the IHFRA Office at 336.889.3920 or e-mail here.
February 27,
2012 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on February 28, 2012
Art Van Furniture will offer customers a series of free design classes where guests can learn decorating tips from the furniture store's design experts.
Participants at the Warren, Mich.-based furniture store's program will learn simple hints that give particular design directions a totally new attitude--a new chair or rug, different accessories, a fresh coat of paint.
"We do this in an effort to show our guests that we are more than just a place to buy furniture," said Art Van Furniture President Gary Van Elslander. "We like to think that we don't just sell furniture. We want to help our guests create the home of their dreams."
Guests will be shown how to determine personal decorating styles by translating inspiration into cohesive room designs during this complimentary three-class series which will be held at select stores throughout March.