April 7,
2011 by in UnCategorized 
By Aggregated Content in Delivery on April 8, 2011
from http://c.moreover.com/click/here.pl?z4485945320&z=1250249032
Home furnishings vendor
Safavieh has acquired a 150,000-square-foot distribution center in Fontana, Calif., the
Press Enterprise reported.
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April 7,
2011 by in UnCategorized
By Home Furnishings Business in Financial Reports on April 8, 2011
Havertys Furniture (NYSE: HVT) reported first-quarter 2011 sales fell 1.2 percent compared with the same period last year.
Havertys reported first-quarter 2011 sales of $154.2 million, versus $156 million for the first quarter of 2010. Comparable store sales for the quarter decreased 0.6 percent. Total written business for the first quarter of 2011 was down approximately 3.5 percent compared to the same quarter last year.
"Our first quarter total sales were 1.2 percent below last year with comparable store sales down slightly," said Clarence H. Smith, president and chief executive officer. "This was in line with the sales trend we previously reported for the first two months of the quarter. Last year's first quarter comparable store sales were up 10.1 percent.
"Consumer sentiment is being hampered by rising fuel and food prices and continued declines in housing values so we expect business to remain challenging. While some furniture retailers are closing stores and exiting the business, we are focused on a plan of refashioning and renovating our stores and preparing for Havertys' growth over the longer term."
Havertys, Atlanta, has 118 showrooms in 17 states in the South and Midwest.
April 7,
2011 by in UnCategorized
By Home Furnishings Business in Financial Reports on April 8, 2011
Home furnishings retailer Pier 1 Imports (NYSE: PIR) reported fiscal 2011 fourth-quarter sales of $426.6 million, a 7.7 percent increase over the prior-year period.
In a release of sales and earnings for Pier 1's quarter and fiscal year ended Feb. 26, the Fort Worth, Texas-based retailer said fourth quarter net income jumped $57.1 million from last year's comparable net income of $34.5 million. Same-store sales rose 8.9 percent for the period versus last year's increase of 6.5 percent.
For the fiscal year ended Feb. 26, Pier 1 reported net income of $100.1 million on $1.396 billion in sales, compared with $86.8 million on $1.29 billion in sales the prior year. Comparable store sales for the fiscal year increased 10.9 percent compared with a comparable store sales increase of 1.5 percent last fiscal year. The sales increase for the year was primarily the result of increases in store traffic, conversion rate and average ticket.
Alex W. Smith, President and Chief Executive Officer, commented, "Our fiscal 2011 year was truly an exceptional year--we achieved annual operating income for the first time in six years," said President and CEO Alex W. Smith. "Comparable store sales increases, strong merchandise margins and effective cost controls contributed to the more than $100 million improvement in operating income over last year. Our new year is off to a good start and our spring and Easter assortments are resonating with our customers. Although the Easter holiday falls into April this year, March comp store sales increased 11.3 percent on top of last year's March comp store sales increase of 19.4 percent."
April 7,
2011 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on April 8, 2011
JRM Sales & Management CEO Joe Milevsky will lead two panels featuring top home furnishings retailers at the Home Furnishings Industry Conference, April 30-May 2.
The first retail panel at the San Antonio gathering, "Cash Flow or Cash Flop," is scheduled for Sunday, May 1. Many businesses are challenged by inadequate cash flow; this session will cover topics such as cash flow vs. profit, pitfalls to avoid, forecasting tips and much more. Retailer panelists include: Travis Garrish, Forma Furniture, Fort Collin, Colo., Dave Harkness, Harkness Furniture, Tacoma, Wash., Jeff Child, RC Willey, Salt Lake City, Utah; and Shane Spiller, Spiller Furniture stores, Tuscaloosa, Ala.
The second retailer panel hosted by Milevsky is set for Monday, May 2, and covers "Exploding the Myth that Higher Margins Equals Lower Sales."
"Profit expressed as a percentage is simply the difference between gross margin percentage and total operating expense," Milevsky said. "The object is to keep the different between those two as far apart as possible."
Joining Milevsky for this panel discussion are: Dianne Ray, Garden City Furniture, Garden City Beach, Fla., Randy Coconis, Coconis Furniture, South Zanesville, Ohio, Lael Thompson, Broyhill Home Collections, Aurora, Colo., and Edward Massood, Thomasville Home Furnishings of New Jersey.
Retail members of WHFA, NHFA, all of the affiliates and designated partners can take advantage of a buy one, get one free deal. One registration of $495 must be purchased, and the second person can attend for free. Additional registrations for other team members are $199 each. Hotel registration at the Westin Riverwalk expires Friday. Register for the Home Furnishings Industry Conference here.
April 6,
2011 by in UnCategorized
By Aggregated Content in Community/Charitable Support on April 7, 2011
from http://c.moreover.com/click/here.pl?z4481552891&z=1250249030
Ashley Furniture HomeStores of West Virginia will host a charity event Friday in Charleston and Barboursville.
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