Daily News Archive
Brought to you by Home Furnishings Business
January 31,
2012 by in UnCategorized 
By Aggregated Content in Store Openings on February 1, 2012
from http://c.moreover.com/click/here.pl?z5843880768&z=1250249027
Furnish Bainbridge, a new furniture and design store, has opened on Bainbridge Island, Wash.
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January 31,
2012 by in UnCategorized
By Aggregated Content in sourcing/importing on February 1, 2012
from http://c.moreover.com/click/here.pl?z5843824662&z=1250249029
Vietnamese furniture makers expect a first-quarter 2012 decline in exports against last year.
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January 31,
2012 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on February 1, 2012
Buying group MEGA Group USA has teamed with Whirlpool to launch an appliance program geared to get its furniture retail members into the major appliance business.
"Whirlpool Appliance Gallery" debuted this week at Las Vegas Furniture Market in the Germantown, Tenn.-based group's showroom, World Market Center, space B-1154, with a 400-square-foot presentation, but the program can run to 1,000 square feet, showing 26 to 30 SKUs of appliances such as washer/dryers, stoves and ovens, and refrigerators from Whirlpool's family of companies.
The gallery program, which is exclusive to MEGA members, aims to position furniture dealers as the one-stop stop in their market for all things home furnishings. To participate, dealers must carry Whirlpool as their exclusive appliance source, but the Whirlpool family encompasses brands such as Maytag, Amana, Kitchenaid and Jenn-Air, along with the namesake Whirlpool brand.
MEGA Group USA members will receive comprehensive training on the appliances as well as service network support, co-op and assistance with gallery display and build out. MEGA is providing complete point-of-purchase, banners and other promotional materials to members to help them promote and merchandise the galleries.
"We are excited to partner with such a strong brand name as Whirlpool to bring this gallery concept to our dealers," said MEGA Group USA President Rick Bellows. "We are constantly researching strategies that will give our dealers an edge in their market, increase their store traffic and allow them to maximize their retail floor space."
In the MEGA showroom, Bellows noted that some of MEGA's furniture retail members might have once carried appliances but abandoned the category because of difficulties with merchandising. Whirlpool Appliance Gallery is a turn-key presentation, backed by education, training and support services.
He added that customers returning for ancillary supplies such as stainless steel or dishwasher cleaning products, and accessories such as belts or other replacement parts.
A pilot Whirlpool Appliance Gallery is up and running in Foley, Ala.
January 31,
2012 by in UnCategorized
By Home Furnishings Business in Case Goods on February 1, 2012
Case goods vendor Stanley Furniture Co. (NASDAQ-GS: STLY) reported a fourth-quarter 2011 loss of $1.7 million on sales of $24.6 million.
For the year, Stanley lost $8.6 million, and sales fell 23.6 percent from 2010 to $104.6 million.
"Last year was transformational for our company as we and our customers dealt with the challenges associated with product line and operational restructuring," said Glenn Prillaman, president and CEO of Stanley Furniture, Stanleytown, "Va. We are very pleased with our improvements over the previous year as our financial results reflect the impact of our strategic decisions to align operations with customer demand for differentiated product. Sales results reflect both the lack of dependable service to our customers caused by each product line transitioning into new operating models, as well as the sluggish retail environment for case goods furniture in the premium segment."
Cash on hand at Dec. 31 was $17.3 million, including $1.6 million in restricted cash. Working capital, excluding cash and restricted cash, increased from $27.2 million on Dec. 31, 2010 to $28.8 million at year-end due mostly to a build in finished goods inventory to support the Stanley Furniture product line which is now completely sourced overseas.
"Protecting the strength of our balance sheet remains a top priority as we invest in our business to improve in three main areas: modernizing our Young America manufacturing facility in North Carolina; servicing customers and supporting the growth of the Stanley Furniture product line with sufficient investment in finished goods inventory; and initiating customer care efforts to communicate timely and accurate information," Prillaman said.
The company detailed further the capital investments associated with its initiatives to modernize its domestic manufacturing facility and to better care for its customers.
"We are committed to completing our efforts to reinvent a manufacturing process in Robbinsville, N.C., to compete globally and occupy a meaningful space in the children's furniture marketplace," said Micah Goldsteen, chief operating and financial officer. "Our capital investments last year and those we will make in 2012 show this commitment. In 2011, we invested $4.2 million in new machinery and equipment and in 2012 we are planning an additional investment of approximately $4 million to sufficiently automate this plant. In addition, our customers currently require better information supporting the sale and delivery of our products. We are excited about our plan to invest approximately $3 million over the next two years in new systems that will make doing business with our company more desirable as we enter 2013."
Prillaman said the Stanley Furniture product line is now profitable, operating on an exclusively overseas manufacturing platform.
"However, we have not completed the transition of our Young America product line and have not yet become a profitable domestic manufacturer," he said. "We believe we are roughly half of the way through this journey and, when completed, we will have an Internet-age brand ready for the younger consumer supported by a product offering difficult to duplicate from Asia. As a domestic operation, we are in control of our effort to create a flexible manufacturing footprint that enables a more favorable cost structure, shorter lead times and higher inventory turns. Significant improvements in our Robbinsville facility have been made to date and will continue throughout the coming year."
January 31,
2012 by in UnCategorized
By Home Furnishings Business in Bedding on February 1, 2012
Bedding supplier
Spring Air has unveiled a line of bedding that is certified asthma and allergy friendly at the
Las Vegas Market.
The Back Supporter-branded bedding line named Breathe has the Live Healthier position statement and has been certified by the
Asthma and Allergy Foundation of America (AAFA).
Spring Airs certification for its Breathe mattresses follows more than a year of development and scientific testing at third-party, accredited laboratories. The company now joins more than 130 other consumer products that have earned the asthma & allergy friendly certification mark, including
Disney,
LG,
Valspar, and
Dyson.
According to AAFA, the certification mark is awarded only to those products that have proven in laboratory testing to be more suitable for people with asthma and allergies and that are effective in indoor environmental control and allergen reduction.
Weve never been more excited about a product introduction, especially one that addresses head-on the No.1 product in every homethe mattresswhich has been identified by asthma, allergy and immunology experts as the priority target for reducing allergens and improving indoor air quality, said Rick Robinson, president of Spring Air. We say our name has been trusted by millions for 85 years, and were proud to be the first mattress company to make such a product available.