August 31,
2011 by in UnCategorized 
By Home Furnishings Business in Bedroom on September 1, 2011
Solid wood bedroom vendor Cambridge Mills will exhibit in a new space in the International Home Furnishings Center for October High Furniture Point Market.
The 3,500-square-foot space, 582 Green Wing is more than double the company's previous showroom in 200 North Hamilton and have room to showcase all existing and new product.
"We are excited to partner with (International Market Centers) on the new space," said Michael Scarsella, sales and marketing director for Cambridge Mills. "We have doubled our product line since our launch last October and, with two new collections premiering this October, the larger, better located space will allow us to fully showcase our entire assortment of products. The relationship with IMC also gives us a great opportunity as we look ahead to the winter Vegas market as well."
Cambridge Mills was launched last October in partnership with Harden Furniture. The company specializes in solid wood bedroom products that target the middle to upper middle price point segments of the market. All Cambridge Mills product is 100 percent Americanm-made and manufactured in Hardens 500,000-square-foot facility in McConnellsville, New York.
Cambridge Mills has enjoyed significant growth in its first year, said Harden Furniture CEO Greg Harden.
"Despite the still challenging broader economic climate, we have doubled the Cambridge Mills product line and added an average of one new account every other day since the launch," he said. "Most retailers have just received product or only had product on their floors since spring and we anticipate strong repeat business as the fall selling season arrives."
This October, Cambridge Mills will introduce two new complete bedroom collections: Cherry Creek, an upscale solid cherry transitional group that features soft curves and exclusively designed leather pulls; and Scottsdale, the company's first break from solid cherry and a sleek contemporary collection in white oak available in either a sandstone or slate finish.
August 31,
2011 by in UnCategorized
By Home Furnishings Business in High Point on September 1, 2011
Buyer registration for Fall Pre-Market 2011 is up 10 percent over last fall's gathering of furniture vendors and furniture retailers.
To date, according to organizers, 253 buyers from 99 companies are signed up for the event set for Sept. 12-13 in High Point.
"Buyers are continuing to register for the Fall Pre-Market, with requests coming in almost daily," said Kevin O'Connor, chairman of the Pre-Market Committee and CEO of Samson Marketing. "The response has been fantastic and we look forward to a very strong event."
Pre-Market offers its 24 sponsor exhibitors the opportunity to work closely with buyers to fine-tune new product offerings and to partner together to create success on retail floors.
"This positive response to Pre-Market also bodes well for the October High Point Market," O'Connor said. "Buyers look to High Point for the most important introductions, the newest fashion trends and display ideas, and for enticing looks to draw consumers into their stores. Anyone attending Pre-Market has an advantage because they will have had an early preview."
High Point Pre-Market takes place a month before each High Point Market and gives retailers an opportunity to see new designs before the spring and fall shows. The following sponsoring manufacturers have made a commitment to show new product in a "market ready" condition for review:
American Drew / Lea / Hammary
A.R.T. Furniture, Inc.
Aspenhome
Austin Group Furniture
Bernhardt Furniture
Broyhill Furniture
Casana Furniture
Fairmont Designs
Hekman
Hooker Furniture
Kincaid Furniture
Lane Home Furnishings
Legacy Classic
Magnussen
Natuzzi Group
Palliser Furniture
Prime Resources/Pulaski/Samuel Lawrence
Riverside Furniture
Stanley Furniture
Universal Furniture
Vaughan-Bassett Furniture
Vaughan Furniture Company, Inc.
Wynwood
Building Sponsors include 220 Elm, IHFC and Market Square Complex, and IMC Companies.
August 31,
2011 by in UnCategorized
By Home Furnishings Business in Financial Reports on September 1, 2011
Home furnishings retailer Pier 1 Imports (NYSE: PIR) reported fiscal second-quarter 2011 sales of $340 million, an 8.8 percent increase over the same period in 2010.
Fort Worth, Texas-based Pier 1 saw comparable store sales increase of 10.8 percent for the period ended August 27, and that on top of second-quarter 2010's 11.2 percent increase.
Comparable store sales for the first six months increased 10.5 percent compared to a comparable store sales increase of 12.7 percent in the year-ago period. Total sales for the first six months increased to $674 million from $616 million for the same period last year.
The comparable store sales increase for the second quarter was driven primarily by increases in traffic and average ticket.
"We are very pleased with our second quarter sales results, which were consistent throughout every month of the quarter," said Alex W. Smith, president and CEO. "Merchandise margins remain strong across all merchandise categories. Halloween, fall and harvest merchandise was set in all stores by early August. Customers are reacting favorably to this merchandise, which bodes well for the second half of the year. We look forward to discussing our second quarter results and providing an update to the balance of the year during our upcoming conference call."
August 31,
2011 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on September 1, 2011
W.S. Badcock Co. named rug vendor Surya this year's Most Valued Supplier-Partner at the annual Badcock Furniture Conference in Charleston last weekend.
Badcock hosts the event each year to show new merchandise, celebrate accomplishments, and engage its employees, franchisees, and suppliers in a meaningful way as it prepares for the busy fall season. More than 500 people attended the conference with multiple partners being honored for their progressive and value added approach.
"It's truly an honor to receive this award from Badcock Furniture," said Satya Tiwari, president of Surya, Atlanta. "A primary focus at Surya is to make sure that our customers, like Badcock, have the most relevant and trend-setting designs so that they can better serve their customers, the general consumer. We design our rugs and home accessories with our customers' end consumer in mind. This customer-centric focus married to leading-edge, trend-casting designs, ensures a very strong customer partnership on our end and sustainable retail success for our customers."
Surya products have been in Badcock stores for several years.
"Surya has some of the best designed rugs in the industry, but what sets them apart is their solution-based approach to serving the market. Their team gets what superior customer service means," said Badcock's rug buyer and fifth-generation family member, Will Daughtrey II. "As we expand into new markets, like Virginia and North Carolina, it's imperative that we leverage our strong supplier base."
This is the second vendor award Surya received this year. Earlier this summer, Rugs Direct recognized Surya as its Partner of the Year, highlighting Surya's approach to customer service and innovative design.
The W.S. Badcock Co., Mulberry, Fla.,with 330 stores across the Southeast, is one of the largest privately owned home furniture retailers in the United States.
August 31,
2011 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on September 1, 2011
Online home furnishings retail powerhouse CSN Stores has relaunched its brand as Wayfair.
Wayfair.com carries 4.5 million home items from 5,000 brands.
The launch also marks a major strategic development for CSN Stores LLC. Over the past nine years, CSN has experienced significant growth by focusing its efforts on 200-plus sites, named for the category of goods they carry, such as Cookware.com, Luggage.com, Strollers.com, and BedroomFurniture.com.
Now, as the company is on course to surpass $500 million in sales this year, it's consolidating all of these sites, which represent a comprehensive catalog of everything for the home, from barstools to beds, into one recognizable and robust branded destination, Wayfair.com.
"After years of growing successfully and profitably by selling and delivering huge items including bedroom sets, gazebos, and grills from 200 different sites, we decided it was time to refresh what we do best and focus on one new site to benefit our customers," said Wayfair CEO Niraj Shah. "We also have a more consumer-friendly name, an attractive logo and layout, and a technically advanced site platform--upgrades that give customers faster, more enjoyable, and memorable shopping experiences all in one place."
With its new tagline, "a zillion things home," Wayfair.com will expedite searches for specific items while also giving consumers broader browsing ability to view other home-related categories, including furniture and décor, cookware, lighting, tools, flooring and more. Wayfair.com offers a range of price points to meet consumers' varying budgets. For example, best-selling loveseats range from a traditional piece from Skyline for $449, to a casual style from Rowe for $1,470, to a modern settee from Knoll for $3,823. All three ship for free.
"Our mission is to become the favorite place to buy anything for your home," said Wayfair Chairman Steven Conine. "Based on our selection, strong service and competitive pricing we think this is achievable. We also keep our selection fresh by adding tens of thousands of new items each month."
The rebranding follows the company's first round of institutional funding--June's $165 million investment from Battery Ventures, Great Hill Partners, HarbourVest Partners and Spark Capital. According to The MoneyTree Report, it was the largest round of funding in the U.S. during second quarter 2011. This funding supports the Wayfair transition, appropriate acquisitions, and other plans for corporate expansion in the U.S. and globally.
To both accelerate and manage its growth, the company is hiring aggressively. The staff has more than doubled in two years, jumping from 400 to more than 850 employees to date. The company plans to hire as many as 200 additional people by year's end, bringing the total number to more than 1,000.
Beyond Wayfair.com, the current brands AllModern and Joss & Main will remain, as well. AllModern.com caters to people who prefer the modern design aesthetic and JossAndMain.com is the company's first flash sale site, offering goods at up to 70 percent off during 72-hour sales.
Earlier this year, CSN Stores (now Wayfair) surpassed Crate & Barrel in industry rankings to become the No. 2 online retailer of home furnishings and housewares in the U.S., based on annual sales. In the past two years, the company has grown more than 50 percent annually.
Beyond its Boston, Mass., headquarters, Wayfair has an operations and distribution center in Ogden, Utah; and another distribution center slated to open in Hebron, Ky., this fall. Wayfair has international offices are in Galway, Ireland; London; and Munich, Germany.