Daily News Archive
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April 11,
2011 by in UnCategorized 
By Home Furnishings Business in economic news on April 12, 2011
The Furniture Buying Index crept up one point this month to a reading of 76, according to
America's Research Group. The index has moved up on point each month since December.
"The Furniture Buying Index continues to move up slightly this month," said Britt Beemer, chairman of America's Research Group. "Consumer confidence continues to be weak, but pent-up demand levels are high, suggesting consumers are spending money when they need to."
The Furniture Buying Index is compiled each month by America's Research Group from interviews with between 5,000 and 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.
April 11,
2011 by in UnCategorized
By Aggregated Content in Financial Reports on April 12, 2011
from http://c.moreover.com/click/here.pl?z4499051628&z=1250249030
Home furnishings retailer Pier 1 Imports (NYSE: PIR) soared at the end of last week after fourth-quarter earnings greatly exceeded expectations.
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April 11,
2011 by in UnCategorized
By Home Furnishings Business in Social Media on April 12, 2011
The International Sleep Products Association has launched an ISPA EARTH Facebook page and ISPA Earth LinkedIn Group.
ISPA Earth is the ISPA's initiative to improve the environmental impact of the mattress industry's operations and products.¨ The organization looks to use social media for easier communication about these topics. For example, ISPA's Facebook page and LinkedIn Group will help anyone interested in used mattress recycling find information, share ideas, ask questions, and make new connections.
Mattress disposal is a persistent and growing problem in many states, and Facebook and LinkedIn make communicating among manufacturers, consumers, recyclers and anyone in the business of making, buying, using and disposing of beds easier.
Users can post questions and information about mattress recycling or other topics involving the environmental impact of mattresses, including new "greener" materials, better manufacturing practices that can reduce energy or water consumption, etc.
For any questions about ISPA's program, e-mail here.
April 11,
2011 by in UnCategorized
By Home Furnishings Business in sourcing/importing on April 12, 2011
Import cargo volume at major U.S. container ports should rise 9 percent in April over the same month last year, the National Retail Federation announced Monday.
That's according to the monthly Global Port Tracker report, compiled for NRF by National Retail Federation and Hackett Associates.
"These numbers are an indication that the economy is recovering and retailers are expecting continued increases in sales through the summer and beyond," said NRF Vice President for Supply Chain and Customs Policy Jonathan Gold. "There are challenges ahead from rising prices for gasoline and other essentials, but inventories are under control and retailers are optimistic."
U.S. ports followed by Global Port Tracker handled 1.1 million Twenty-foot Equivalent Units in February, traditionally the slowest month of the year and the latest for which actual numbers are available. That was down 8 percent from January but up 10 percent from February 2010. It was the 15th month in a row to show a year-over-year improvement after December 2009 broke a 28-month streak of year-over-year declines.
March was estimated at 1.2 million TEU, an increase of 11 percent over March 2010. April is forecast at 1.24 million TEU, up 9 percent from a year ago; May at 1.32 million TEU, up 4 percent; June at 1.38 million TEU, up 5 percent; July at 1.45 million TEU, up 5 percent; and August at 1.54 million TEU, up 8 percent.
The first half of 2011 is forecast at 7.4 million TEU, up 8 percent from the first half of 2010. For the full year, 2010 totaled 14.7 million TEU, a 16 percent increase over 2009. Last year's percentages were high because 2009s 12.7 million TEU was the lowest level seen since 2003.
"The economy is slowly on the mend with many of the key short-term indicators providing positive directions," Hackett Associates founder Ben Hackett said. "Consumers are buoyed by falling unemployment and are somewhat freer with their money."
Global Port Tracker, which is produced for NRF by the consulting firm Hackett Associates, covers the U.S. ports of Long Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Hampton Roads, Charleston and Savannah on the East Coast; and Houston on the Gulf Coast.
April 10,
2011 by in UnCategorized
By Home Furnishings Business in Bedding on April 11, 2011
Memory foam bedding manufacturer Tempur-Pedic (NYSE: TPX) announced record performance in preliminary financial results for first-quarter 2011 on Thursday.
Tempur-Pedic, Lexington, Ky., currently expects first-quarter 2011 net sales of approximately $325 million, a 28 percent increase compared with the first quarter of 2010. The company currently expects earnings for the period per diluted share to range between $0.67 and $0.68.
Tempur-Pedic also increased its full-year 2011 guidance for net sales and earnings per share. It currently expects net sales for 2011 to range from $1.31 billion to $1.36 billion; EPS for 2011 to range from $2.80 to $2.95. The Company noted its EPS guidance assumes a full year diluted share count of approximately 71 million and does not assume any benefit from a potential further reduction in shares outstanding related to its share repurchase program.
"First quarter sales and profits exceeded our prior expectations in both our North American and International segments," said Chief Executive Officer Mark Sarvary. "During the quarter, we made progress in our effort to enhance our product range and significantly increased our investment in consumer marketing as we seek to capitalize on the considerable market share opportunity we see for our brand."
"We are pleased that our manufacturing and productivity initiatives continued to deliver significant benefits, which helped drive improved gross margin on a sequential basis," said Chief Financial Officer Dale Williams. "In revising our financial guidance, we considered both the positive sales trends we experienced during the quarter as well as a more inflationary outlook for commodities."