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July 13,
2011 by in UnCategorized 
By Aggregated Content in economic news on July 14, 2011
from http://c.moreover.com/click/here.pl?z4955945432&z=1250249032
U.S. retail sales edged up 0.1 percent in June, after dipping 0.1 percent in May, as a rebound in receipts from auto dealers offset the biggest drop in gasoline sales in a year, the Commerce Dept said. Sales excluding gasoline rebounded 0.3 percent after declining 0.2 percent in May.
U.S. producer prices in June posted their steepest decline since February 2010 as energy prices eased, suggesting inflation pressures at the wholesale level are abating. The Producer Price Index slumped 0.4 percent, twice as fast as expected, following a 0.2 percent rise
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July 13,
2011 by in UnCategorized
By Aggregated Content in Furniture Retailing on July 14, 2011
from http://c.moreover.com/click/here.pl?z4958023758&z=1250249027
The Wisconsin Bureau of Consumer Protection opened an investigation on Furniture Deals and Steals after the company shut the doors to seven locations throughout the state, leaving some customers without furniture or refunds. More than 80 complaints on the chain flooded the Wisconsin Better Business Bureau since June 9. At least three have come from the West Salem location. "That's a huge amount of complaints to get over course of few days," said Better Business Bureau spokeswoman Susan Bach. Most complaints say consumers ordered furniture from the company as early as February, and have yet to receive it. Some
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July 13,
2011 by in UnCategorized
By Home Furnishings Business in Financial Reports on July 14, 2011
Furniture retailer Jennifer Convertibles reported third-quarter revenue of $19 million, a 2 percent increase; and a loss of $1.95 million, compared with $4.8 million lost the prior-year period.
For the nine-month period ended May 28, revenue fell 3.6 percent to $54.3 million. Through the third quarter, Jennifer Convertibles had net income of $26.8 million, compared with a net loss of $18.1 million at the same point last year.
Comparable store sales increased 8.7 percent in the third quarter, but are still down 5.1 percent year-to-date.
Rami Abada, President of Jennifer, commenting on the results of the third fiscal quarter said, "While we were not profitable for the third quarter much of it can be attributed to residual effects from the previous nine months in bankruptcy, as well as the time needed to transition the emerging company to a vibrant entity," said Jennifer President Rami Abada. "We are at various stages of implementation of many new initiatives including but not limited to new products, new vendors, new marketing campaigns and some more efficient supply chains. We will continue to explore other opportunities to return us to profitability and provide quality and value to our consumers."
The company also announced on Wendesday that it has opened a new warehouse in North Carolina.
"With the addition of new product lines and new vendors, we feel this warehouse will help us with our growth plans as well as improve our supply chain," Abada said.
Jennifer Convertibles has 65 Jennifer Convertibles sofa bed specialty stores; eight Jennifer Leather stores; and six licensed Ashley Furniture Homestores.
July 13,
2011 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on July 14, 2011
The National Home Furnishings Month/Is It Home Yet? campaign is back for a third year in its effort to inspire consumer excitement for home furnishings.
Retailer participation has opened for Is It Home Yet?, an International Market Centers-sponsored complimentary service to retailers that provides the opportunity to utilize sweepstakes and promotions to drive in-store traffic.
This year's campaign will feature a Home Mortgage or Rent Sweepstakes. In last year's Home Mortgage Sweepstakes, homeowners had the chance to win mortgage payments for one year. This year renters also have the chance to win one year's rent. This promotional element will be supported by International Market Centers' marketing efforts, as well. The sweepstakes kicks off Labor Day Weekend and runs through Sept. 30.
"We created National Home Furnishings Month three years ago with the goal of uniting retailers, and providing our partners with the necessary tools to inspire a new-found customer enthusiasm," said Robert Maricich, chief executive officer of International Market Centers. "Last year's resounding 30 percent increase in participation proves that this concept works, and has been widely received by our retail partners. Our hope is that this year's sweepstakes inclusion of renters as well as homeowners will open the doors for retailers to reach a new consumer."
July 13,
2011 by in UnCategorized
By Home Furnishings Business in Executive Changes on July 14, 2011
As part of a company-wide realignment, furniture components vendor Hickory Springs has named Brad McNeely and Mike Simmons vice president.
McNeely has been promoted to the new position of vice president of new product development. The position was created to support the company's development of its new Corporate Innovation and Testing Center. Over the next few weeks, McNeely will announce additional personnel changes to support the development of the center. He is responsible for building and leading an enhanced product development team, which is responsible for expanding the company's product portfolio and taking the company into new markets in the near future.
McNeely joined Hickory Springs in 1989 as a sales trainee. He previously held the position of regional sales manager and has led the company's regional sales team as foam marketing manager since 2003.
"It's an honor to be chosen to lead Hickory Springs into a new era of growth and change," McNeely said. "Our new Corporate Innovation and Testing Center is an important step in the ongoing diversification of the company, and I am excited to be part of the team that will help define the future of Hickory Springs."
In this new role, Mr. McNeely will be
Simmons will McNeely at the Corporate Innovation and Testing Center in the newly created position of vice president of new business development. He will work with McNeely to develop new products for new markets. He has been with the company for 20 years in a variety of positions, most recently as national marketing manager.
"I look forward to working with Brad to carve out new growth markets and revenue streams for Hickory Springs and our customers," Simmons said. "It's an exciting time to be part of the company as we seek new ways to build on our core competencies and continue to expand the Hickory Springs brand."
"Brad and Mike have earned these promotions and we are excited to have them leading the company's new product and new business development," said Executive Vice President and Chief Sales & Marketing Officer Dwayne Welch. "Their experience and expertise will be instrumental in the ongoing diversification of the company and in shaping the development of our our new Corporate Innovation and Testing Center."
Both McNeely and Simmons will be located in the newly renovated Corporate Innovation and Testing Center in Conover, N.C.