Daily News Archive
Brought to you by Home Furnishings Business
May 18,
2011 by in UnCategorized 
By Home Furnishings Business in Mattresses on May 19, 2011
Mattress and pillow maker Latex International has announced a new pricing policy that it says offers more transparency on the impact of raw material cost increases.
Instead of following what it called "the traditionally cloaked manner in which manufacturers pass along raw material price increases," Latex International will hold its base pricing of products steady, but would start adding a "surcharge" line on its invoices beginning June 1st to reflect the ups and downs of latex on the world market.
The formula will calculate the weight of the product and multiplying it by the increased raw material cost. For example, a queen-size, one-inch, 24 ILD topper translates to 9.7 pounds multiplied by an increase of 25-cents a pound, resulting in a $2.43 surcharge for the product. The actual amount of the surcharge will be calculated on the last working day of the month and then reflective in the next months invoicing, whether higher or lower.
"Since February, natural latex pricing has increased by 31 percent and SBR (synthetic latex) is up 21 percent. At this time, weve chosen not to pass on a traditional price increase, but will instead be applying a latex surcharge, based solely on cost increases, for all shipments on a line item basis, from June 1st," said Latex International President and CEO Dave Fisher. "We do this with great reluctance, but we feel this option is in the best interest for both parties. This surcharge will minimize the impact to your business and be based on actual increases or decreases. We cannot control or predict world-wide commodity fluctuations. Without this surcharge we would have to pass on continued price increases each quarter, based on our margin requirements and forecasted raw material increases. We will update the 'latex surcharge' on a monthly basis which will be clearly communicated on each invoice and order acknowledgement for our customers."
May 18,
2011 by in UnCategorized
By Home Furnishings Business in Community/Charitable Support on May 19, 2011
National furniture retailer Furniture Row's Denver Mattress Co. and the Tim Tebow Foundation have partnered to support orphanage services.
For every mattress sold between today and June 22 during the "Your Dreams Improve and so Do Theirs" Campaign, Denver Mattress will donate $15 to the Tim Tebow Foundation, up to a maximum of $100,000, to help continue the work providing for orphans in the United States and around the world.
"The Foundation exists to bring faith, hope and love to those needing a brighter day in their darkest hour of need," Tebow said.
This is the first fundraiser between Furniture Row and the Tim Tebow Foundation since the partnership began in September of 2010, when Furniture Row started by providing consultation, interior design services, and furnishings for Tim Tebow's new home in Denver.
"Denver Mattress is pleased to be in a position to work with the Tim Tebow Foundation and to assist in their efforts to help orphans around the globe," said Dan Visser, president of Denver Mattress Co. "Together with Tim's support, Denver Mattress can continue to positively impact lives worldwide."
The Furniture Row Cos. make up one of the largest family-owned specialty home furnishings and bedding retailers operating more than 330 stores in 31 states.
May 18,
2011 by in UnCategorized
By Home Furnishings Business in Bedding on May 19, 2011
Leggett & Platts Bedding Group (NYSE: LEG) has introduced Sleep Geek, an online community for retail sales associates in the bedding industry.
The first of its kind, Sleep Geek will provide an entertaining space for RSAs to socialize while learning how to improve their sales and become industry ambassadors.
In recognition of their personal interaction with consumers, Leggett & Platt created Sleep Geek to serve as a collective voice for RSAs. The site will ask users to weigh in on issues, as well as share best practices and experiences.
For the longest time, Ive wondered why we consistently overlook those who are interacting with consumers face-to-face every day, said Mark Quinn, segment vice president of marketing at Leggett & Platt. If were going to grow as an industry, it is absolutely essential that we come together and give RSAs a voice. We have so much to learn from each other.
The social Web site is open for registration, and launches its Sleep Geek Daily Game and associated content May 27. The Daily Game consists of a question posed to RSA members every day for 100 days. The participant who answers correctly in the shortest amount of time will earn at least $100. The most frequent Daily Game winners will compete to win a $10,000 grand prize $5,000 will be awarded to the winner and the other $5,000 will go to the winners retail location.
Beyond the Daily Game, Sleep Geek will motivate and connect RSAs with community forums, polls and news. Leggett & Platt, an innovation leader in the industry, will continue to develop the site based on feedback from users with the goal of maintaining a relevant, dynamic community. Support from other bedding companies has already begun rolling in. Mattress Firm, Mattress Giant, Sit N Sleep and more have already confirmed participation in the Sleep Geek community.
RSAs are encouraged to join Sleep Geek now. The first 500 RSAs to join the community will earn the Early Bird badge, which will increase their prize. Go online to join Sleep Geek.
May 18,
2011 by in UnCategorized
By Aggregated Content in Financial Reports on May 19, 2011
from http://c.moreover.com/click/here.pl?z4645712004&z=1250249030
Leon's Furniture Ltd. (TSX:LNF) has reported a lower first-quarter profit of $9.8 million, hurt by a tough economy with fewer new housing starts and record consumer debt.
In the same quarter last year, Leon's earned $11.4 million, the furniture and appliance retailer said Thursday in a statement before its annual meeting in Toronto.
Total sales in the quarter dropped six per cent to $191.5 million, Leon's said.
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May 17,
2011 by in UnCategorized
By Aggregated Content in Business Strategy on May 18, 2011
from http://c.moreover.com/click/here.pl?z4637657065&z=1250249030
Pierce Furniture Gallery will open Friday at the former Havertys location in Abilene, Texas.
"We had an opportunity to consolidate," said Joe Pierce, owner of the local Gallery Furniture chain. "That was really my purpose from the start."
The chain is set to close one of its other Abilene locations, Gallery Plus, on Saturday, Pierce said. Television commercials in recent weeks have touted the impending closure of the store, on South Clack Drive. Pierce said the 45,000-square-foot former Havertys building will include warehouse and office operations for his company.
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