Daily News Archive
Brought to you by Home Furnishings Business
September 26,
2011 by in UnCategorized 
By Home Furnishings Business in Accessories on September 27, 2011
Wall decor vendor Accessory Classy Art Wholesalers has named award winners of its summer retail sales contest.
"Getting the product of retail floors is the easy part, but getting them to turn during the summer is tricky," said Gabriel Cohen, vice president of marketing for Classy Art, Houston. "We feel that the retail sales people are our front lines, and by motivating them to ask the consumer for add-on items such as wall decor and lamps we increase the average ticket making it a win-win-win for the factory, the sales person, and the retailer.
"In todays environment we must be creative to sustain growth or to even survive in most cases. Expect Classy Art to continue to create fun and exciting ways to grow both our business as well as the retailers'."
September 25,
2011 by in UnCategorized
By Home Furnishings Business in Financial Reports on September 26, 2011
Leather upholstery supplier
Natuzzi (
NYSE: NTZ) reported net profit of 9.6 million Euro for the second quarter of fiscal 2011, compared to a net loss of 2.8 million Euro in the same quarter last year.
Total sales for the quarter were 121.4 million Euro, a 16.4 percent drop compared to second quarter of last year.
For the first half of the year, Natuzzi recorded net profit of 6.6 million Euro, compared to a net loss of 4.1 million Euro in the first half of last year. Sales for the first half of the year were 242.4 million Euro, a 10.8 percent decline from the first half of last year.
"In the first half of 2011 the world's economies have continued to show uncertainty which is even increasing in recent weeks," said Pasquale Natuzzi, chairman and CEO of Natuzzi S.p.A. "The consequence is that the demand for consumer goods - especially durable ones - remains to be weak and volatile. Macroeconomic performance and some internal factors explain the decline of the Natuzzi Group sales by 12.9 percent, recorded by the Group in this first half."
September 25,
2011 by in UnCategorized
By Home Furnishings Business in Case Goods on September 26, 2011
Home Trends and Designs has been named to
Inc. magazine's 5000 list of Americas fastest growing companies.
Its a great honor to be one of the few companies in our industry to be recognized for our rapid success, said co-owner Hank Cravey. Our supportive customers and the great designs of our solid wood furniture are what made this possible. Weve been aggressively satisfying demand for almost 10 years now, and are still setting records.
Home Trends and Designs accepted the award at a banquet in Washington D.C., Saturday.
September 25,
2011 by in UnCategorized
By Home Furnishings Business in Acquisition on September 26, 2011
Lexington Home Brands has reached a definitive agreement to acquire Sligh Furniture Company. Terms of the transaction were not disclosed.
The transaction, slated to close in October, will give Lexington an industry-leading presence in the home office and home entertainment categories while adding a well-respected brand to its portfolio which currently includes Lexington, Tommy Bahama Home and Henry Link Trading Co.
Sligh Furniture Company was founded in 1880 and is one of the industry's most venerable premier brands. Known for its innovation in the home office and home entertainment categories, Sligh designers have earned seven coveted Pinnacle Awards for outstanding design from the American Society of Furniture Designers.
"Lexington has a strong position in the upper-middle price points," said Phil Haney, president and CEO of Lexington Home Brands. "We have earned consistent and significant market share gains in the face of a tough economy by delivering great product. While our lifestyle collections currently include a broad assortment of home office and home entertainment products, the addition of Sligh to our brand portfolio will position us to become a core vendor in these categories for our dealers. Further, the addition of Rob Sligh to our executive team will prove a tremendous asset."
Rob Sligh, the fourth-generation president of Sligh Furniture Company, will continue in that role under the new ownership structure. He will take on additional executive management responsibilities at Lexington as senior vice president of business development and will be based out of the Lexington corporate center in High Point.
"With a family legacy that spans 131 years, and strong dealer relationships that have been the foundation of our success, it was important to me to identify the right partner as we begin an exciting new growth phase for our company," said Sligh. "The team at Lexington shares my core values, understanding the importance of product innovation, brand management, aggressive marketing and dealer relationships. They bring rock-solid financial resources, best-in-class operational support and the leverage of scale. In order to compete in a global environment and provide superior value for our retailers and consumers, it was in our best interest to partner with a proven industry leader. I couldnt be more pleased with this transaction, and look forward to joining the executive team at Lexington."
In order to leverage Lexington's infrastructure and resources, the Sligh product line will be stocked and shipped out of the Lexington distribution complex in North Carolina. Product development, marketing, customer service and credit functions will be managed from the Lexington corporate center. At the upcoming High Point Furniture Market, Lexington will build out a dedicated showroom area for the Sligh presentation on the second floor of its 100,000-square-foot showroom campus on National Highway.
"The strategic synergy of this acquisition became apparent to both Rob and me from our very first conversation," Haney said. "The benefits that will accrue to our dealers--in the form of product development, service and value--will be significant. This is one of those rare occasions in business where the alignment is ideal for both parties, and I couldnt be more excited about the opportunity before us."
September 25,
2011 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on September 26, 2011
The Sustainable Furnishings Council has named three furniture retailers qualifying for Silver Exemplary Status for commitment to sustainability in their operations.
Those retailers are Room & Board, Minneapolis; Circle Furniture, Acton, Mass.; and online retailer NATeco.
Room & Board has 12 stores ranging from San Francisco to Washington, D.C. Specializing in contemporary design, Room & Board was a founding member of the SFC. The retailer source more than 85 percent of its products domestically, utilizes skylights and motion-activated lights at distribution centers and is converting all stores to LED lighting.
Circle Furniture is a five-store Boston-area chain also specializing in contemporary. Circle was the first area retailer to institute a recycling program; 30 percent of its case goods have a low-VOC, eco-friendly finish; and 50 percent of inventory is manufactured within a 500-mile radius.
NATeco is an online dealer of eco-friendly furniture run by Tom Megna, a long-time manufacturer and importer of sustainable goods. Twenty percent of its products use certified wood, another 20 percent are GreenGuard certified, and Menga himself earned his accreditation as a certified GREENleader.
In August, the SFC announced a revised Retailer Standard following months of intensive effort by a committee of members. The new standard was based on the template of the highly successful U.S. Green Building Council's LEED model which recognizes levels of Silver, Gold and Platinum Exemplary performance based on points earned in a menu list of possible choices. Performance measures taken into account in the new SFC Exemplary Retailer Standard include wood sourcing, use of reclaimed materials, energy conservation, on-site recycling programs, training and education. It recognizes those companies who are already employing a variety of sustainable practices, giving consumers a sign of assurance.
"Room & Board has a long standing philosophy to protect our world and our resources," said Room & Board Vendor Resource Manager and SFC Vice President Steve Freeman. "We have always made the majority of our products from sustainably harvested woods and materials and we adopt new technology and materials/products/finishes when it proves to offer the level of quality and value our customers expect. We continually strive to buy from domestic US sources whenever it makes sense. Room & Board is thrilled to be a founding member of SFC and we continue to support its efforts. Room & Board is excited to be one of the first retailers to be recognized as Silver Exemplary and will continue our work to improve our contribution to sustainability."