Daily News Archive
Brought to you by Home Furnishings Business
November 30,
2011 by in UnCategorized 
By Home Furnishings Business in Financial Reports on December 1, 2011
Home furnishings retailer Pier 1 Imports (NYSE: PIR) reported third-quarter 2011 sales of $383 million, an 8.2 percent rise from the prior-year period.
Comparable store sales for the quarter ended Nov. 26 rose 7 percent. That's on top of a 10.2 percent increase in third-quarter 2010 for a three-year cumulative comparable store sales increase of 30.9 percent.
Pier 1, Fort Worth, Texas, revised its expectations of third-quarter earnings up to $0.20-$0.21 per share from the previously reported estimate of $0.18 per share.
Comparable store sales for the first nine months increased 9.2 percent, compared with a comparable store sales increase of 11.8 percent in the year-ago period. Total sales for the first nine months of fiscal 2011 increased 9 percent to $1.057 billion.
Pier 1 credited the comparable store sales increase for the third quarter primarily to increases in traffic and average ticket.
"We are very pleased with our third quarter," said Pier 1 President and CEO Alex Smith. "Our strong assortments and the right balance between regular and promotional pricing drove strong sales and merchandise margin growth. Consequently, earnings per share are now anticipated to be ahead of our previous estimate. Thanksgiving weekend, the gateway to the holiday season, was excellent with comp store sales for our three-day event increasing 10 percent from last year. This was achieved with modest levels of discount--further testament to the quality of our product offering and store experience.
The Company will announce fiscal 2012 third quarter financial results prior to market open on Dec. 15, and will host a conference call later that morning at 10 a.m. Central Time.
November 30,
2011 by in UnCategorized
By Home Furnishings Business in Markets on December 1, 2011
Partner hotels of Dallas Market Center are offering discounted nightly rates during the Jan. 18-24 Total Home & Gift Market.
Hotel rates range from $99-$219 per night with most offering a complimentary shuttle service to Dallas Market Center. Discounted rates are valid until two weeks prior to the first day of Market and are subject to change according to availability.
"January Market is a critical time for buyers, and we want them to have affordable hotel options while in Dallas," said Cindy Morris, COO, Dallas Market Center. "We know that every penny counts while at Market, and we hope that buyers will take advantage of these great rates."
Dallas Market Center partner hotel rates include: The Belmont, $99; Holiday Inn Market Center, $135; Crowne Plaza Market Center, $145; The Adolphus, $159; Fairmont Dallas, $163; Double Tree Market Center, $174; Hilton Anatole, $189; Marriott Suites Market Center, $199; The Ritz Carlton Dallas, $199; and Crescent Court, $200.
For more travel information or to request a quote, please visit the Dallas Market Center Web site. For up-to-date on market information, visit Dallas Market Center on Facebook and Twitter.
Attendees may contact Dallas Market Center's in-house travel agency, Market Travel, for substantial travel and hotel discounts by calling 214.744.7444.
November 30,
2011 by in UnCategorized
By Home Furnishings Business in Community/Charitable Support on December 1, 2011
Leggett & Platt Consumer Products teamed with Extreme Makeover: Home Edition, donating three Leggett & Platt Fashion Bed products to recently filmed shows.
The first donation, one of Leggett & Platt Fashion Bed brand's top-selling Euro platform beds, was included in the Nov. 18 episode. Donated to the Dunning family of Cool Spring, Del., the European-inspired, queen-size faux leather bed now adorns a bedroom in the family's new home.
One of the largest projects in the show's nearly eight-year history, the new Dunning home not only features high-quality bedroom decor and modern upgrades, it includes a soup kitchen for the family's ministry, Jusst Sooup Ranch. All soup prepared by the Dunnings in their soup kitchen feeds the hungry.
"We were honored to participate in such an important episode. The Dunnings inspire hope for so many, and it was a privilege to be asked to contribute one of our products to their new beginning," said Rob Woods, president of Leggett & Platt Consumer Products Group. "On behalf of Leggett & Platt, we wish the Dunnings many great and lasting memories in their new home."
In addition to the Euro donation, Leggett & Platt Fashion Bed's Sasha and Miami ornamental beds will be part of a future episode of Extreme Makeover: Home Edition, focusing on the rebuilding of Joplin, Mo.
"Many Leggett & Platt employee partners live in Joplin as it is just a town over from our headquarters in Carthage, and many of our own employee partners were profoundly affected by the tornadoes back in May," Woods said. "The devastation was deeply felt within our corporate family as we lost one of our employee partners to Mother Nature"s destruction. Being involved in this episode was very important to us."
November 29,
2011 by in UnCategorized
By Home Furnishings Business in High Point on November 30, 2011
International Market Centers has promoted four members of its High Point and Las Vegas home furnishings showroom leasing teams.
Julie Messner, Craig Staack, Lee Hershberg and Margaret Powers were named vice presidents responsible for advancing new business opportunities for IMC's portfolio of properties while offering more value to its showroom partners.
Messner, a High Point native and formerly vice president of publication sales for the International Home Furnishings Center since 2008, is now vice president of business development and handles home furnishings leasing for IMC's High Point properties. Prior to joining the IHFC, Messner spent three years as director of leasing for MMPI High Point, responsible for leasing temporary showrooms in the Suites at Market Square and the Plaza Suites buildings. Messner, a graduate of High Point University and active on many community boards, also brings with her more than 10 years of furnishings retail sales experience.
Craig Staack, a senior level furniture executive with a successful 30-year track record in retail, management, product development and marketing, has been named vice president of business Development and handles home furnishings leasing for Las Vegas. Before joining World Market Center's leasing team in 2009, Staack owned and operated three furniture stores in Las Vegas. Previously, Staack served on the executive committee of a Fortune 500 company and held senior executive positions at three top retailers including Montgomery Ward, Heilig-Meyers and Homelife.
Messner and Staack report to Tom Mitchell, IMC president of home furnishings.
IMC also announced the promotion of Lee Hershberg to the position of vice president of home decor. Based in High Point, Hershberg most recently served as IHFC's vice president of accessory leasing since 2008, where he was responsible for the 100 percent occupancy rate for 560,000 square feet of space. Previously, Hershberg spent more than seven years at Nielsen Business Media (formerly VNU Expositions) in Atlanta as a sales executive for the Kitchen/Bath Industry Show, and ultimately was promoted to show director.
In addition, Margaret Powers has been named vice president of tradeshow/Las Vegas and will oversee the sales and management of the Temporaries Division at Las Vegas Market. Powers is a 20-year veteran of the gift industry, holding top merchandising and corporate retail positions with Hallmark Cards, Enesco and Hershey. Before joining World Market Center as director of business development in 2008, she served as a director of leasing for Merchandise Mart Properties, handling exhibitor sales for LA Mart, 7W New York and The Chicago Market.
Hershberg and Powers report to IMC's interim president of Gift+Home, Georgia Davis.
"We are confident in the track records of these key team members," said Tom Mitchell, IMC's President of Home Furnishings. "They represent some of the very best talent in the country and are incredibly in tune with the business, our industry and our customers. We believe in their abilities to lead IMC's leasing teams to success in both cities and nationally."
IMC's portfolio includes 11.5 million square feet in 18 showroom venues in High Point N.C. and Las Vegas.
November 29,
2011 by in UnCategorized
By Home Furnishings Business in Bedding on November 30, 2011
Restwell Mattress Co. has a new license to market
Comfort Solutions mattresses in several Northwest U.S. states.
Restwell, a family-owned bedding producer based in Surrey, British Columbia, will produce Willowbrook, Ill.-based Comfort Solutions products for Washington, Oregon, Montana and Idaho starting in January. The company began shipping products earlier in 2011 in Alaska, the first time that state has been served by Comfort Solutions.
"Were extremely pleased to have Restwell Mattress as a new licensee serving retailers in five northwest states," said Dave Roberts, Comfort Solutions president and COO. "The company has been a successful family business since it was founded in 1990 and has a well-established reputation for building quality, comfort and value into its products."
Owned by CEO Troy Zanatta, Restwell manufactures its own name-brand and private-label bedding, among other products. The company serves a range of furniture, department and specialty mattress retailers in the provinces of British Columbia, Alberta and Saskatchewan, and also sells to hotels, motels and care facilities throughout western Canada.
Restwell Mattress will replace Northwest Bedding, a Spokane, Wash.-based, factory-direct manufacturer of mattresses and bedroom furniture with retail stores in the Spokane area.
Comfort Solutions has 10 domestic and 37 international licensees serving more than 80 countries.