October 16,
2011 by in UnCategorized 
By Aggregated Content in Furniture Retailing on October 17, 2011
from http://c.moreover.com/click/here.pl?z5343304088&z=1250249032
At Tamarac-based City Furniture, the global recession is beginning to fade further and further into the rearview mirror. The privately-held company on Monday announced a $17.5 million expansion that will double the size of its most profitable store and add three new South Florida locations.
"It is a good time for us," said company president Keith Koenig. "Like many other businesses, we put some projects on the back burner while the marketplace was tightening up."
The 800-employee company saw a small increase last year; growth continued throughout this year, he said.
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October 13,
2011 by in UnCategorized
By Aggregated Content in economic news on October 14, 2011
from http://c.moreover.com/click/here.pl?z5330882035&z=1250249029
Retail sales rebounded for September, offering clues about the state of the U.S. consumer and easing fears of an impending recession.
The Commerce Department said retail sales increased by a better-than-expected 1.1 percent last month, boosted by strong auto purchases. Economists in a Thomson Reuters survey had expected a 0.7 percent rise after a flat reading in August.
Consumer spending accounts for about two thirds of U.S. economic activity, and the retail sales data suggest growth at the end of the third quarter might have been stronger than previously thought, Reuters said.
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October 13,
2011 by in UnCategorized
By Aggregated Content in Executive Changes on October 14, 2011
from http://c.moreover.com/click/here.pl?z5333253590&z=1250249029
Ian Sears, who has been chief marketing officer for Restoration Hardware, has been named president of Ralph Lauren Home.
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October 13,
2011 by in UnCategorized
By Home Furnishings Business in Business Strategy on October 14, 2011
Specialty retailer
Pier 1 Imports (
NYSE: PIR) has board authorization to repurchase up to $100 million of the company's common stock.
Effective immediately, the retailer can acquire the stock in open market or through private transactions. Last month Pier 1 reported that its fiscal second-quarter net income rose 15 percent because the retailer drew more shoppers who spent more.
Timing of the repurchases will depend on a number of factors, including market conditions and prices. As of today, Pier 1 has about 109.6 million shares of common stock outstanding.
October 13,
2011 by in UnCategorized
By Home Furnishings Business in Upholstery on October 14, 2011
Upholstered furniture manufacturer Albany Inds. will invest $2.5 million and create 335 in converting a former Vaughan plant in Galax, Va. to upholstery production.
"Galax is an ideal location for us to serve our Northeast markets," said Richie McLarty, president of Albany Inds. "This is a pro-business community with a workforce that's a perfect match for our needs. We appreciate the assistance from the Commonwealth, the City of Galax, and Virginia's aCorridor in making this project a reality."
Headquartered in New Albany, Miss., Albany Inds. was founded in 1995 and production began with 15 employees in a 10,000-square-foot building. Since then the company has grown from those 15 employees to an operation employing more than 450 people in a modern 500,000-square-foot manufacturing facility.
"Albany Industries' decision to expand its production capabilities to Virginia is tremendous news for the City of Galax and the surrounding region," said Virginia Governor Bob McDonnell. "This project brings 335 new jobs to a city of 7,000 people in a region that has been hard hit by this tough economy. In addition, the company will revitalize a vacant property that formerly served as the B.C. Vaughan manufacturing facility and meets infrastructure needs. Albany Industries will fit perfectly into the furniture industry niche that thrives in that part of Virginia, and I welcome the company to the Commonwealth."
The Virginia Economic Development Partnership worked with the City Council of Galax and Virginia's aCorridor to secure the project for Virginia. Lieutenant Governor Bill Bolling and Delegate Bill Carrico also assisted with the project. Governor McDonnell approved a $300,000 grant from the Governor's Opportunity Fund to assist Galax with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission approved $680,000 in Tobacco Region Opportunity Funds for the project. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the company's recruitment, training and retraining activities.