February 23,
2012 by in UnCategorized 
By Home Furnishings Business in Executive Changes on February 24, 2012
Rent-to-own furniture, electronics and appliance retailer Aaron's Inc. (NYSE: AAN) has named Ronald W. Allen president and CEO.
Allen, who'd been serving as interim CEO, was chairman and CEO of Delta Air Lines from 1987 to 1997, and has been a member of the Aaron's Board since 1997.
"The board has worked closely with Ron as interim CEO and believes he has the experience, energy and business acumen to lead Aaron's into the next era of continued growth and expansion," said Aaron's Chairman R. Charles Loudermilk Sr. "Ron has been an active and vital member of our board of directors for 15 years. We are quite pleased with his commitment to daily involvement at Aaron's while offering his guidance and leadership as president and CEO."
"As a result of the vision and leadership of Charlie and more recently Robin Loudermilk, Aaron's has grown into the great company it is today," Allen said. "As I reflect on what has made Aaron's such a great success, it's clear that Aaron's 57-year heritage of industry leadership, superior business model and execution, and our experienced and motivated management team and associates are the Company's greatest assets. I'm pleased to work alongside all of our associates to help millions of customers choose Aaron's as their specialty retailer of choice."
February 22,
2012 by in UnCategorized
By Home Furnishings Business in Financial Reports on February 23, 2012
La-Z-Boy (NYSE: LZB) reported sales rose 8.4 percent--led by 10.7 percent growth in upholstery--to $316.5 million in its fiscal 2012 third quarter.
Net income for the period ended Jan. 28 jumped 50 percent to $15 million compared with third-quarter 2011. Almost a third of that income was due to a reduction of certain valuation reserves against the company's deferred tax assets, minor discrete tax adjustments, and anti-dumping duties.
"Our results for the quarter demonstrate we are successfully executing against our strategy to drive volume, retail profitability and conversion," said President and CEO Kurt L. Darrow. "During the period, we experienced sales increases in our upholstery and retail segments, achieved the twelfth consecutive quarter of performance improvement in our retail segment, posted an 8.6 percent same-store sales increase for the La-Z-Boy Furniture Galleries store system, and generated a 70 percent improvement in operating income. While still facing macroeconomic challenges, we believe the strength of our brand, store system and marketing campaign, combined with a lean and efficient cost structure, will continue to fuel improved overall corporate performance going forward."
For the quarter, La-Z-Boy's retail segment had delivered sales of $58.4 million, up 32.3 percent compared with the third quarter of last year. The delivered sales increase for the 67 stores included in last year's third quarter was 6.7 percent. The additional sales increase was mainly associated with our February 2011 acquisition of 15 stores in Southern California. The retail group posted an operating loss of $0.6 million, with an operating margin of (1.1 percent), compared with an operating loss of $2.8 million, or an operating margin of (6.2 percent) in last year's third quarter.
"Our retail performance indicates we are on a solid path toward profitability as we continue to improve the results of the segment each quarter," Darrow said. "Once profitable, the value of the blended wholesale/retail margin inherent in the integrated retail model, will be clearly evident. During the quarter, we improved our average ticket through an increase in items per ticket as well as dollars per item. Importantly, our team continues to ensure consumers have a professional shopping experience and receive personalized service. During the quarter, we continued to strengthen our merchandising strategies which helped to drive a 2.2 percentage point increase in the gross margin."
At the end of the third quarter, the La-Z-Boy Furniture Galleries store system included 309 stand-alone stores.
Click here for the full La-Z-Boy release.
February 22,
2012 by in UnCategorized
By Home Furnishings Business in Special Events on February 23, 2012
The New England Chapter of the National Home Furnishings Association has presented the Arthur Adelizzi Award to Fred Wagner.
Wagner was the Northeast rep for the Webb Co. for 57 years, where he became their top salesperson and remained so for over 25 years. He was a long-standing member of the Home Furnishings Association of New England and has always concentrated his efforts toward promoting the common good of his fellow reps. In 1990 Fred was honored by being named Dean of IHFRA.
The New England Chapter presents the annual award to an individual who exemplifies leadership in the industry and community, and demonstrates ethical standards and integrity while working with others. The Award is named in for the late Arthur Adelizzi, past president and chairman of the International Home Furnishings Association of New England and a past president of the International Home Furnishings Representatives Association.
"We are especially pleased to choose Fred since he is a person who has contributed much to our industry here in the New England Area, and he has conducted his life and his business with professionalism, integrity and dedication much in keeping with the ideals of Arthur Adelizzi," said New England Chapter President Joe Quintal.
Wagner remains active along with his sons Karl and Steve through the Wags Furniture Distribution Center.
February 22,
2012 by in UnCategorized
By Home Furnishings Business in Executive Changes on February 23, 2012
Furniture Brands International (NYSE: FBN) CEO Ralph Scozzafava has joined the board of directors of Houston-based Stage Stores Inc. (NYSE: SSI).
Scozzafava will serve on the Stage Stores board's corporate governance and nominating committee, and compensation committee.
"We are extremely pleased to welcome Ralph to our company's board of directors," said Stage Stores President and CEO Andy Hall. "Through his various executive leadership roles, Ralph has gained a strong background in operations and consumer goods, with extensive experience in strategic planning. His experience, leadership skills and successful track record will make him an outstanding addition to our Board and to the committees on which he will serve."
Stage Stores Inc. operates primarily in small and mid-sized towns and communities. Its stores, which operate under the Bealls, Goody's, Palais Royal, Peebles, Stage and Steele's names, offer moderately priced, nationally recognized brand name apparel, accessories, cosmetics and footwear. The company currently operates 816 stores in 40 states, and has an e-commerce Web site.
February 22,
2012 by in UnCategorized
By Aggregated Content in on February 23, 2012
from http://c.moreover.com/click/here.pl?z5971839169&z=1250249027
Photo By: Michelle TeTiffany Home Design Owner Brittainy Tiffany and salesman Shawn Varwig at Tiffany Home Design in Wilsonville. A chance to help a friend stage a home for sale several years ago now has led to a furniture store in Wilsonville. Sign In or Subscribe to view full article. Photo Gallery: Wilsonville girls beat Liberty going away 70-43 Crash slows southbound I-5 traffic at Wilsonville Road Halverson captures state freestyle championship Photo Gallery: NWOC district wrestling tournament Girls basketball: Wildcats juggle their own balancing act
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