Daily News Archive
Brought to you by Home Furnishings Business
May 22,
2011 by in UnCategorized 
By Home Furnishings Business in Leather Upholstery on May 23, 2011
Italian upholstery producer
Natuzzi (NYSE: NTZ) reported a net loss of 3 million Euro in the the first quarter ended March 31, compared to a net loss of 1.3 million Euro in the first quarter of last year.
Net sales for the quarter were 121 million Euro, a 4.3 percent decline compared to net sales of 126.5 million Euro in the first quarter of last year. Just over 26 percent of the sales came from the Americas; 49.5 percent from Europe (excluding Italy); 14.1 percent from Italy and the balance from the rest of the world.
"In the first quarter of 2011, we recorded a slight decrease in sales as a consequence of the U.S. market, which suffered from the decline in production in China due to the shift of production facilities," said Pasquale Natuzzi, chairman and CEO. "In recent weeks the level of production capacity has already been fully restored, which is necessary in order to ensure an adequate level of service which is fundamental in a market like the U.S., already characterized by weak demand for home decor products. We are aware of the difficulties we are still facing, given the uncertain economic situation, and for this reason we continue to work on simplification and integration of brands, markets, distribution channels and facilities to better serve customers that represent a core value for our company. The strong financial position enables us to give continuity to the specific investments in terms of product and process innovation, development and valorization of the brand, expansion within the emerging markets like India, China and Brazil, while maintaining our presence in our historical markets."
The entire earnings release can be found online.
May 22,
2011 by in UnCategorized
By Aggregated Content in Business Strategy on May 23, 2011
from http://c.moreover.com/click/here.pl?z4658911104&z=1250249030
Chinas export juggernaut is not unstoppable: Just ask Lawrence Yen, president of Woodworth Wooden Industries.
His factory in southern China used to ship 400 containers of bedroom furniture to the United States each month. It now sends 60. That is just what Yen's struggling American competitors were hoping would happen when, back in January 2005, the Commerce Department slapped import tariffs on Chinese-made beds, nightstands and related wares.
What happened next, though, was not part of the plan: Yen opened a factory in Vietnam and began exporting to the United States from there.
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May 22,
2011 by in UnCategorized
By Aggregated Content in Business Strategy on May 23, 2011
from http://c.moreover.com/click/here.pl?z4657535463&z=1250249032
Burlington Basket Co., a maker of bassinets and wicker cribs, among other household furnishings, seeks a buyer, describing its 95,000-square-foot manufacturing facility as generating $6 million in sales, with customers including big box stores, internet marketers , and retail chains stores.
A family owned business since 1888, Burlington Basket Company says it blends classic wicker and willow design and materials with the most current manufacturing techniques to offer a high quality, stylish products.
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May 21,
2011 by in UnCategorized
By Aggregated Content in Furniture Retailing on May 22, 2011
from http://c.moreover.com/click/here.pl?z4655224647&z=1250249032
Lacks Valley Stores held a grand opening ceremony Thursday for a 35,000-square-foot furniture store in Alice, Texas.
The store features a coffee bar and furniture, bedding, appliance and electronics departments. It offers next-day delivery, the company said in a news release. Based in Pharr, Lacks Valley Stores are located on the Texas border from Laredo to Port Isabel. The company is not affiliated with Lack's Home Furnishings, which closed its Texas stores after filing for Chapter 11 bankruptcy protection.
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May 21,
2011 by in UnCategorized
By Aggregated Content in economic news on May 22, 2011
from http://c.moreover.com/click/here.pl?z4654538326&z=1250249027
Canadian retail sales were basically flat in March, as consumers put off spending on clothes and furniture in order to fill their gas tanks, official data showed Friday.
Retail sales were flat in March, holding steady at C$37.3 billion, according to Statistics Canada. Economists expected retail sales to rise 0.9 percent, following the 0.4 percent gains recorded in February. Stripping out higher food and gasoline prices, retail sales in volume terms decreased 0.8 percent in March.
Receipts from gas stations rose 1.4 percent in dollar terms, the eighth increase in nine months. Gas prices rose almost 40
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