Daily News Archive
Brought to you by Home Furnishings Business
March 28,
2011 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on March 29, 2011
Throughout the month of April, Home Furnishings Independents Association will offer a $150 discount to retailers who register as new members of the organization.
HFIA President Mary Frye will welcome prospective and current members to the association's booth in the atrium of the Furniture Plaza building during the High Point Furniture Market. Frye can answer questions and provide details regarding the organization's benefits Saturday, April 2-Thursday, April 7.
HFIA offers a comprehensive range of business services dedicated to providing solutions to meet retail back office needs. Acting as an extension of store staff, HFIA manages the behind the scenes store services that allow owners to focus on their top priority, customers.
"We're not able to sell furniture on your floor, but we offer personalized business services to make sure you can," Frye said.
Member services include discounted bank card processing, consumer financing, low-cost freight programs, competitively-priced business insurance, on-line furniture sales training and sales aids.
"In nearly forty years spent as an independent furniture retailer, we have been members of many organizations and associations," said Louis S. Casey, CEO and president, Casey's Furniture Inc., Temple, Texas. "The one we appreciate the most is HFIA. Teamwork is vital to our business, and as a member of HFIA we have even more teammates working on our behalf. Check out the benefits, join HFIA, and put their team to work for you."
To print an application or for more information about HFIA, visit the association's Web site or contact Mary Frye at 800.942..4663 or by e-mail.
March 28,
2011 by in UnCategorized
By Home Furnishings Business in Acquisition on March 29, 2011
Markor International Furniture Co. Ltd. has acquired
A.R.T. Furniture Inc.
"This furthers what has been an exclusive supply distribution agreement between the two companies to the next level," said Edward Grund, A.R.T.s C.E.O. A.R.T. now joins
Schnadig International Corp. as a part of Markors International Business Division, headed by Howard Pan, previously president of Schnadig.
The company also announced that effective April 2, Grund will assume the role of chairman emeritus, and Jeffrey L. Cook will be promoted to C.E.O.
Cook, who joined A.R.T. as president in January, previously served as president of
Broyhill Furniture Inds. His past experience also includes serving as president and chief executive officer of
Magnussen Home Furnishings; vice president of sales and marketing of Sumter Cabinet Company; executive vice president of sales and marketing of
Lea Inds.; and senior vice president of sales and marketing of Design Horizons.
"From Jeffs broad range of experience with privately and publicly owned companies, he brings a deep understanding of the stages required to manage sustained double-digit growth," Grund said. "He has worked in the implementation of a wide variety of business processes, systems and models, which will be invaluable as he takes A.R.T. to the next level."
"Despite the economy, A.R.T. is in an enviable position of growth while being backed by the financial strength, manufacturing capabilities and logistics infrastructure of Markor. The brand has a solid reputation for great product offering superior value, consistent quality and flexible delivery options," Cook said. "Were also blessed with a business model and parent company that can provide us the support, resources and capabilities to maintain an unrelenting focus on meeting and exceeding the needs and expectations of our dealers.
"My focus will be on broadening our style and price points and managing growth so that we remain nimble in identifying and addressing opportunities in the marketplace while keeping the backend of our business in alignment," he said. "If we do this, we will be an even more successful company."
Grund will continue to work with Markor International Furniture, the parent company, to play a significant role in the supply chain relationship management.
March 28,
2011 by in UnCategorized
By Home Furnishings Business in Financial Reports on March 29, 2011
Natuzzi (NYSE: NTZ) reported a net loss of 11.1 million Euro for 2010, compared to a net loss of 17.7 million Euro in 2009.
Net sales for the year were 518.6 million Euro, up 0.6 percent compared to net sales for 2009.
For the fourth quarter, the company reported a net loss of 1.4 million Euro, compared to a net loss of 2.5 million Euro in 2009. Net sales for the fourth quarter were 132 million Euro, a 13.3 percent decline from net sales in the fourth quarter of 2009.
"Despite steady total sales in 2010, we finally reached a positive operating result after three years of negative EBIT," said Pasquale Natuzzi, chairman and CEO. "Financial figures are encouraging and confirm the good quality of the work so far undertaken. We believe these results are below our growth potential, that we expect to reach in the following years considering the investments made in factories requalification, development and awareness of the brands, as well as in the expansion of foreign commercial branches to improve our market presence. Our Group maintains and strengthens its credibility and leadership within historical markets such as Europe and the United States, as well as in emerging markets such as India, China and Brazil.
"We have done a good job on brands portfolio and made investments to give a particular identity to the three brands, Natuzzi, Italsofa and Editons; each of them addressing different clients," he said. "We are working to integrate brands, markets, distribution channels and factories to support the three brands. We have to further strengthen the Sales organization to increase the presence in the markets and will continue to leverage on our high-quality brand by relying on our management skills and experience."
Read the entire earnings release online.
March 28,
2011 by in UnCategorized
By Home Furnishings Business in Upholstery on March 29, 2011
Cargills BiOH Polyols Project UDesign winner Ryland Quillen and his next generation sustainable wing chair have journeyed from design rendering to prototype, to the finished sample that will debut at the spring High Point Market.
Market attendees are invited to meet the Savannah College of Art and Design (SCAD) senior, who will be on hand to share his story and the inspiration behind Alifair, a chair covered in eco-friendly Ultrasuede and featuring cut-out features on the wings. Quillen will be in Century Furniture's showroom, Sunday, April 3, 10-11 a.m.
Quillen will receive a royalty for each chair Century sells. He was also awarded a $1,000 prize from Cargill last year.
Project UDesign was conceived by Cargill 's Polyurethanes business unit to heighten awareness around the subject of sustainability in home furnishings.
March 28,
2011 by in UnCategorized
By Home Furnishings Business in Bedding on March 29, 2011
The International Sleep Products Association elected Therapedic International President and CEO Gerry Borreggine chairman at its annual industry conference.
Borreggine said the key agenda item for the trade association will be stronger industry advocacy in Washington and state capitals where new legislation threatens the economic recovery of the sleep products industry.
"Our industry needs a strong voice in Washington and in state capitals where legislation threatens the economic recovery of our members," he said. "ISPA's strongest work has always been as an advocate and first line of defense for the industry, almost like an insurance policy, for the continued health of the sleep products sector."
He added that creating greater value for members was also a key agenda item.
"The value proposition for current and former members must be so strong that large companies understand the importance of their participation, and smaller members cant exist without it," Borreggine said. "We need to continually reassess organizational priorities and make sure we are doing what members want and need."
Borreggine is a 34-year veteran of the mattress industry. He began his career in 1977 as an executive with "40 Winks," which was a leading sleep products retailer in the Philadelphia and South Jersey area with 23 stores. He joined Therapedic International, one of the world's largest manufacturers and distributors of sleep products, in 2003 as vice president of sales and marketing. One year later, he was appointed its president and chief executive officer.
He became active in ISPA more than 20 years ago when he was the first retailer asked to join the board of the Better Sleep Council, the consumer education arm of ISPA to help consumers learn more about the health benefits of getting a better night's sleep. He became the chairman of the Better Sleep Council in 1999 and served in that role for five years. He joined the ISPA board in 2008 as a trustee, became an executive committee member and ultimately vice chair of the group two years ago.
Borreggine replaces Don Wright, chairman of Wright of Thomasville, who chaired ISPA for the past 18 months.
"I am proud of the achievements we have made during my term to restore ISPA's fiscal health by trimming expenses and increasing effectiveness, efficiency and revenues," Wright said. "Moreover, we stabilized the organization during a time of unexpected leadership change and refocused our priorities on core principles.
"On the revenue side, we have seen increases from key programs like our bi-annual EXPO and new members. Likewise, we have taken important steps to reduce costs including staff, and even leasing vacant space in our headquarters building to third-party tenants to defray operating expenses."
ISPA President Ryan Trainer said he was grateful for Wright's stewardship these past few years, and welcomed Borreggines agenda for the future.
"The changes at ISPA over the past year or so really are transformational to make the organization much more vital to the business interests of our members," he said. "We are making significant investments as well to improve our communication with members, including enhancements to our website, a greater footprint in social networking, and a facelift for our industry publications."
ISPA also elected other new officers and trustees at its annual meeting.
Ron Passaglia, the president and chief executive officer of Restonic Mattress Corp., was elected vice chair. Trustees elected to new two-year terms included: Aslan Cohen of Spring Air Mexico; Bill Creekmuir of Simmons Bedding Co.; John Larsen of Lady Americana/Sound Sleep Products; Kathryn Roedel of Select Comfort Corp.; Scott Veitzer of Omaha Bedding Co.; Brandon Wolf of Wolf Corp. Trustees re-elected to an additional two-year term, included: Rick Anderson of Tempur-Pedic International; Michael Crowell of Flexible Foam Products; Eric Hinshaw of Kingsdown; Ralph Rossdeutscher of Natura World; and Dean Woods of C.J. Hodder Lumber Co.