August 3,
2011 by in UnCategorized 
By Home Furnishings Business in economic news on August 4, 2011
The Furniture Buying Index fell two points this month to a reading of 72, even with the index's level at the end of last year, according to
America's Research Group.
In a national study conducted by the research group last month, 56.2 percent of consumers interviewed said they feel they are better off as a family today than they were a year ago, but only 42.7 percent of those interviewed feel America is better off today than a year ago.
Consumers are feeling better about their personal situation, but are still worried about the future of our country," said Britt Beemer, chairman of Americas Research Group. This concern about the direction of the country is causing consumers to be very careful about making discretionary purchases such as furniture."
Compiled each month by America's Research Group from interviews with 5,000 to 8,000 consumers across the country. In a typical month, 80 percent of the consumers interviewed can name a specific furniture item they intend to buy. The Index's mark signifies what percent of the benchmark 80 percent actually have a particular item in mind.
August 3,
2011 by in UnCategorized
By Home Furnishings Business in on August 4, 2011
The High Point Market Authority Thursday announced that it has named Tom Conley its new president and CEO.
Conley, who was chosen after a months-long search, replaces Brian Casey, who left last spring. He is currently owner of TPC & Associates, a Chicago-based convention and trade show services business. He is also a former president of the Toy Industry Association in New York and former head of the International Toy Fair.
We are very pleased to have someone of Toms caliber join the Market Authority, particularly with his extensive background in trade show management, HPMA Chairman Kevin OConnor said in a statement. "As we move forward, the objective for the Market Authority under Tom will be to develop strategies that will make the High Point Market even better, and to expand its role as the worlds premier home furnishings market."
August 3,
2011 by in UnCategorized
By Aggregated Content in Furniture Retailing on August 4, 2011
from http://c.moreover.com/click/here.pl?z5036701065&z=1250249030
Three Shanghai consumers will launch a lawsuit against DaVinci Furniture Co Ltd today, demanding compensation totaling 1.5 million yuan (US$232,920) from the company amid accusations that it lied about where its furniture was made. Next week things will get worse for DaVinci, as a larger group of consumers plans to file suit for many times that amount. Combined, the lawsuits will be seeking compensation that may add up to more than 40 million yuan, lawyers said. The Yingke Law Firm Shanghai said the three consumers filing today bought furniture from the company at a total
Read Full Article...
August 3,
2011 by in UnCategorized
By Aggregated Content in Financial Reports on August 4, 2011
from http://c.moreover.com/click/here.pl?z5033394050&z=1250249032
Furniture Brands said Wednesday it lost $6.6 million in the second quarter, compared with a profit of $4.2 million in the prior-year quarter. The St. Louis-based furniture company (NYSE: FBN) reported sales of $296.2 million for the three months ended June 30, up 2 percent from $289.5 million a year ago. The company had a pretax loss of $6.4 million in the second quarter of 2011, compared with a pretax loss of $1 million in the second quarter of 2010.
Read Full Article...
August 2,
2011 by in UnCategorized
By Aggregated Content in Financial Reports on August 3, 2011
from http://c.moreover.com/click/here.pl?z5032944024&z=1250249030
Ethan Allen Interiors Inc. (NYSE:ETH) Chairman and Chief Executive Farooq Kathwari said the company is "cautiously optimistic" about continuing to increase sales and profit, noting that the economic environment remains uncertain. He also highlighted that written orders for the retail division increased by 15% in the latest period and that written business last month continued to be ahead of the prior-year period. Ethan Allen, like other home-decor companies, has been reporting stronger results lately, putting some of the money to work on marketing investments and hiring, particularly in retail. The housing downturn hurt revenue at
Read Full Article...