August 16,
2011 by in UnCategorized 
By Home Furnishings Business in Financial Reports on August 17, 2011
Full-line furniture vendor Chromcraft Revington (AMEX: CRC) reported second-quarter 2011 sales of $13.8, a 1.3 percent slip from the prior-year quarter.
Chromcraft, West Lafayette, Ind., recorded a loss in the quarter ended July 2 of $1.25 million, trimming 6.6 percent off the $1.3 million lost in second-quarter 2010.
Second-quarter 2011 sales were up 11 percent from the first quarter, and Chromcraft's second-quarter loss was reduced 30 percent from the prior quarter.
The company credited improved second quarter operating results compared with the first quarter of 2011 and the second quarter of 2010 primarily to an increase in commercial furniture shipments, reflecting improved conditions in the U.S. office furniture market.
Residential furniture shipments in the second quarter of 2011 were slightly lower as compared to the prior year period primarily due to weak consumer demand for residential furniture in our product categories and price segment due to the continuing economic downturn which reflects the ongoing labor and housing market struggles and high consumer debt levels; and import competition.
"Despite our operating loss for the second quarter, we are encouraged by a marked improvement over the first quarter 2011 operating results in both sales and operating loss, primarily due to a pickup in our recent order activity and shipments of contract commercial products," said Ronald Butler, chairman and CEO. "Although the ongoing difficult operating environment in the residential furniture market will continue to be challenging, we expect the positive impact on our business resulting from what may be the start of a rebound in the U.S. office furniture market to continue through the remainder of the year. In these uncertain economic times, we have diligently focused on our cash flow and balance sheet management along with controlling operating costs to be in line with our revenue base."
Chromcraft Revington's residential brands include Chromcraft, Cochrane, Peters-Revington, Southern Living, and CR Kids & Beyond. It sells commercial furniture under the Chromcraft brand.
August 16,
2011 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on August 17, 2011
Home Furnishings, electronics and appliance retailer Conn's Inc. (NASDAQ-GS: CONN) and GE Capital have expanded and extended their consumer finance program.
"Conn's is one of the region's most established and successful retailers," said Paul Schell, general manager, Consumer Electronics for GE Capital's Retail Finance business, Kettering, Ohio. "We're honored to continue working with Conn's to provide their customers with convenient financing options and promotions and help Conn's achieve their business goals."
Extended through 2014, and expanded to $125 million, the renewed consumer financing program will include the introduction of a Conn's-branded credit card, expanded product offerings and financing promotions, and special cardholder discounts and shopping opportunities. Conn's credit program is available at all of its retail stores and clearance locations in Texas, Louisiana and Oklahoma.
"Working with GE Capital enables us to provide qualified customers with financing programs that enhance the value they receive when they buy from Conn's," commented Mike Poppe, CFO of Conn's, Beaumont, Texas. "We value the relationship we have with GE Capital. The renewed agreement gives us increased capacity to support sales growth through the flexible financing programs we offer our customers and we are exploring opportunities to expand our marketing to these customers."
Conn's Inc. currently operates 71 retail locations in Texas, Louisiana and Oklahoma.
August 16,
2011 by in UnCategorized
By Home Furnishings Business in Social Media on August 17, 2011
Home furnishings retail giant Ikea has launched a new community
photo-sharing Web site called "Share Space".
The site gives users a platform to upload photos of their living spaces to easily find and share inspiration with one another. The site also houses a new blog,
"Design by Ikea". The bloggers, led by Janice Simonsen, Ikea design spokesperson, will share their expertise with home design tips, inspiration, and trends. Other contributors will include additional Ikea design experts as well as influential personalities in the design world.
These new online tools, along with the recently launched Ikea Twitter handle (@DesignByIKEA) are part of Ikea's effort to help consumers improve their lives at home by further inspiring and engaging fans and design enthusiast alike.
"Design inspiration can come from anywhere, and we wanted to facilitate and encourage an ongoing dialogue on design, with the ultimate goal of helping consumers make the most of their own personal space," said Leontyne Green, marketing manager for Ikea U.S.
Ikea Share Space allows people to share photos of their own living spaces, from living rooms to kitchens to workspaces, and to highlight their personal solutions to design challenges at home. In addition to sharing their photos, users have the ability to browse and comment on others' spaces and save photos of the rooms they like best. They can also tag Ikea products, save them in a personalized wish list, and click on links to the Ikea homepage for further product information. Similarly, sharing favorite photos with friends on social networks is just one click away.
IKEA design experts will select one room each week as the "Pick of the Week," based on creative use of design elements such as color, furniture arrangement, innovative ideas for increasing functionality of rooms, and big looks on a small budget. The winning room will be displayed on the Share Space homepage and the user will receive a "Pick of the Week" badge as well as a feature about their photo by an IKEA design expert on the blog. Fans who actively contribute and participate on Share Space can unlock a variety of "Kudos" including:
* Space Sharer: A user who upload 3 or more distinct rooms.
* Ikea Fan: A user who tags five Ikea products their photo collection.
* Ikea Super Fan: A user who tags 25 IKEA products in their photo collection.
* Admired Space: A room is saved by five other users.
* Exceptional Space: A room is saved by 25 users.
August 15,
2011 by in UnCategorized
By Home Furnishings Business in Executive Changes on August 16, 2011
Leather furniture vendor Lazzaro Leather has promoted industry veteran Richard Reichick to the position of president.
He replaces Patrick Long, who recently left the Lazarro, a subsidiary of Sunton Tannery and Sofa Factory to persue other interests. Reichick has served as Lazarro's executive vice president of sales since October 2010. He has more than 30 years of experience in the industry, having held management positions at leather resource Violino, as well as at De Coro and Bauhaus.
Lazarro also announced the promotion of Lauri Cryan to the position of vice president of perations. Cryan has served as general Manager with the company since June 2009.
Reichick and Cryan report to Eddie Tse, CEO of Sunton Enterprises.
August 15,
2011 by in UnCategorized
By Home Furnishings Business in Green on August 16, 2011
Reclaimed teak furniture vendor Groovystuff will continue its fostering of young design talent with a collection from Appalachian State student Michelle Walbert.
The collection will launch at the International Casual Furniture Market, Sept. 12-16, in showroom 8-4046 of Chicago's Merchandise Mart.
Walbert's Deschutes bench by Michelle Walbert is one of many pieces designed to fill the trend gap between emerging young adults and established consumers; and give retailers a product that meets the price point of this sensitive and emerging demographic and the style points that established consumers look for when furnishing their home.
"As far as class projects go, this one definitely had a high degree of difficulty. The students had to work with reclaimed teak from Thailand and other components that are part of the Groovystuff line and design a piece that reflects the Dick Idol brand," said ASU Professor Richard Prisco. "In addition, their designs had to be environmentally friendly and lend themselves to being mass produced using sustainable manufacturing practices."
Prisco says he believed that if students could be successful under those parameters, he felt they could design just about anything.
"Buyers and guests at the spring furniture market in High Point showed a lot of interest in the design work of our students. The students also got an opportunity to network, develop contacts and set up internships," Prisco said. "Perhaps industrial design graduates from Appalachian will one day become the next prominent designers in the furniture industry."
The Deschutes bench was designed specifically for the Casual Market and features reclaimed teak I-beams and sustainable outdoor teak flooring. The reclaimed antique I-beams remain the focal point of the indoor/outdoor design and are highlighted in two-tone with the plantation harvested teak flooring. A flat, lacquer finish softens the contrast between these two types of teak and gives the bench a modern, elegant look. The scale and versatility of this bench make it functional for anywhere inside or outside the home.
"Our goal with this competition was to provide students with a platform for creativity and encourage them to embrace the home furnishings industry," said Chris Bruning, president of Groovystuff, Dallas, Texas. "Sales are where the rubber meets the road, and viral media portals like Facebook, along with feedback from market attendees during the design phase helped shape these goods into a product line that hits the market at the right price and fits perfectly into the Gen X, Gen Y market category we were targeting."
Groovystuff has sponsored student design competitions so far with Appalachian State University, Auburn University and the Art Institute of Las Vegas.