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July 19,
2010 by in UnCategorized 
By Home Furnishings Business in Executive Changes on July 20, 2010
The World Market Center Las Vegas has named a 10-person team to lead its new Gift + Home division.
The Market will be hosting its inaugural Gift + Home market concurrent with the Las Vegas Market Aug. 2-6.
Georgia Davis has been named vice president, Gift + Home. She is the former vice president of the Dallas Market Center where she was for 20 years. Davis has been working with the World Market Center as a new business development consulting position for the last three years. In her new position, Davis is responsible for the strategy, sales and growth of the Gift + Home division.
Randy Eller has been hired as a consultant for the division. Eller operates Eller Enterprises, a consultancy for the home accent, furniture and giftware industries. Eller's background includes a stint as president and part owner of CBK, and prior to that he was with Russ Berrie & Co. Eller will assist the World Market Center with its growth.
Ron Radin will be a consultant for the team. Radin is currently business development for lighting division at the World Market Center. He is also the owner and publisher of Homestyle Publications. Prior to this, Radin held sales/marketing positions with several lighting companies including Adjusta Post Lighting, North Shore Lighting and Casablanca Inds.
The market has named three people as director of business development for Gift + Home. Gerry Seibel, Boyd Tasker and Margaret Powers. Seibel and Tasker are responsible for leasing permanent gift and decorative accessory showrooms, and Powers is responsible for leading the sales team for the Gift + Home temporary space.
Seibel has been with the market center for three years as a director of design-focused events. Prior to World Market Center, Seibel was vice president and general manager and later vice president of show development for the L.A. Mart. Prior to those positions he served as vice president of Chicagos Merchandise Mart for 12 years.
Tasker's background is in media and publishing in the gift and accessory marketplace. He was an executive director of sales and marketing with Whereoware; group publisher with Hoyt Publishing; and associate publisher with Ziff-Davis Publishing.
Prior to her new position, Powers was director of leasing at MMPI for the L.A. Mart, 7W New York and The Chicago Market: Living and Giving. Powers also was director of marketing for Hub Group and director of merchandising for Enesco Group.
Sheri Makransky, Keith Davis and Lindsay Pearson have been named to the position of business development for Gift + Home. Makransky is responsible for leasing permanent gift, rug and decorative accessory showrooms. Davis and Pearson are responsible for sales for the market's temporary space.
Makransky has been with World Market Center for almost four years. Her background also includes directing leasing and marketing for Venture Development Group, a Nevada-based commercial developer, and 18 years in retail management for companies including Polo Ralph Lauren and Ann Taylor.
Davis has previously worked at MMPIs L.A. Mart prior to his arrival at World Market Center. From marketing to leasing, Davis has held positions in procuring exhibitors to the trade show complex.
Pearson was formerly director of sales for Beckmans Handcrafted Show at the Chicago Market Living and Giving before joining World Market Center. Pearson oversaw the development and execution of all sales and marketing initiatives.
Michelle Ovalle has been named brand manager for Gift +home. She was previously director of marketing, gift and home furnishings for the L.A. Mart. She is responsible for developing and executing marketing programs and events, and she leads a team of retail specialists focused on gift buyer acquisition.
It has always been our foremost goal for World Market Center to diversify our base of categories and evolve into a total home market. With the extensive breadth of experience and talent within our new gift team, we are excited to be well on our way, said Robert Maricich, president and CEO, World Market Center. This seasoned team was carefully assembled not just to develop new partnerships through their extensive relationships within this segment, but to successfully establish this division as a natural extension of the Las Vegas Market through their thought leadership and knowledgeable and varied perspectives.
July 19,
2010 by in UnCategorized
By Home Furnishings Business in Internet on July 20, 2010
Info Retail, a retail design agency, will host a free podcast recording service Aug. 2-4 during the upcoming Las Vegas Market.
Available to retailers and exhibitors during the market, the free opportunity is for five-minute interviews, which will then be available to download for free beginning Aug. 17.
Podcasts may be posted to social media communities and a variety of other Web sites, and downloaded to MP3 players, cellphones, smart phones, and other devices. Audiences are increasingly connecting with marketers through these channels.
"Recognizing the importance of marketing through social media, Info Retail is proud to offer this service to marketers attending Las Vegas Market," said Brooks Ballard, director of marketing for Info Retail. Podcasts offer marketers the opportunity to take their voices further, to engage in better and longer conversations with their customers and consumers.
According to research by eMarketer.com, B2B marketers spent the largest portion of their 2009 social media budgets on customer communities and podcasts.
"B2B participation in social media marketing is steadily increasing, and marketers are beginning to see opportunities to generate quality leads and position themselves as thought leaders in their industries," said eMarketerʼs Evelyn Jung. "B2B companies tend to have longer and more complicated messages to convey, and these longer-form tactics enable them to position themselves as thought leaders with their customers."
A new Bridge Ratings study shows that more than 38 million people listen to at least five minutes of streaming audio over the Internet each week, MP3 players are now in the hands of more than 280 million consumers, and cellphone/smart phone users spend an average four hours per week listening to audio content with their phones.
Weʼre offering this service to help capture and share the excitement of Las Vegas Market, Ballard said. Marketers are welcome to use the content for new channels and audiences in their marketplace and business community.
The Info Retail Radio podcast team will be conducting five-minute podcast interviews, Monday through Wednesday (Aug. 2-4) in exhibitor showrooms by appointment, and at the Info Retail showroom in A-939.
Appointments can be scheduled here.
July 19,
2010 by in UnCategorized
By Home Furnishings Business in High Point on July 20, 2010
Registration for the Fall High Point Market is open and buyers will find streamlined registration as well as special travel discounts on the newly redesigned
High Point Market Web site. We continue to work with the area hoteliers to ensure our guests are getting the best possible rates, said Brian D. Casey, president and chief executive officer of the High Point Market Authority. Our site features over 50 area hotels that have partnered with us to offer our Market guests substantial savings on accommodations.
In addition, the Market Authority has added new travel packages to supplement the hotel program and attract new attendees to Market. The Fall Market is set for Oct. 16-21.
We have been busy analyzing all of our Market programs in order to provide money saving options for all of our guests, Casey said. This Fall we have also partnered with
a full-service travel agency, Travel Quest, Inc., to further enhance market concierge services. Through Travel Quest, we now offer a variety of travel packages that include assistance in airline travel and car rental in addition to incentives for extended stay in area hotels.
To take advantage of these savings just go to the Web site http://www.highpointmarket.org under Plan Your Trip Accommodations and follow the prompts or call Dawn Smith, director of market services at (336) 869-1000.
July 18,
2010 by in UnCategorized
By Home Furnishings Business in Bankruptcy on July 19, 2010
Woodbury, N.Y.-based Jennifer Convertibles (OTC BB: JENN.OB) has filed for bankruptcy protection with $46.4 million in debt.
The retailer attributed the filing to a "lack of liquidity which resulted from the substantial losses the company has incurred in recent periods." The release goes on to say that the company was unsuccessful in its efforts to obtain alternative financing that would allow it to continue operating outside of bankruptcy.
In a statement, the retailer said it has reached an agreement with its largest creditor and key foreign supplier Haining Mengnu Co. Ltd. Group under which Mengnu will continue to supply goods to Jennifer and will convert a large portion of its pre-petition debt into company equity. The retailer owes Mengnu $16.7 million. The agreement is contingent upon court approval.
Jennifer's 30 largest unsecured creditors are owed about $26.3 million.
The company listed assets of $25.9 million as of July 16 in Chapter 11 documents filed Sunday in U.S. Bankruptcy Court in Manhattan. Eleven affiliates also sought protection.
The company owns 142 Jennifer Convertibles-branded stores and 12 Jennifer Leather stores, and operates five Ashley Furniture HomeStores in its markets.
"We have negotiated several key agreements with our suppliers and, in order to achieve profitability, are exiting markets in which we previously operated in order to properly realign our business during the reorganization," said Harley Greenfield, CEO and chairman of the board. "Due to the quality of our products and our people, I am confident that we will emerge as a stronger organization that will better satisfy our customers, suppliers and employees. By agreeing with Mengnu in advance of the filing, we will be in a great position to proceed with an expeditious restructuring through bankruptcy which will provide us with a viable capital structure as well as additional financing. This agreement also assures that our obligations to our customers will continue to be met both now and in the future."
July 18,
2010 by in UnCategorized
By Home Furnishings Business in economic news on July 19, 2010
Consumers moved a bit farther back into their caves in June, according to the Deloitte Consumer Spending Index.
The Index, which tracks consumer cash flow as an indicator of future consumer spending, dropped to 4.5 percent from an upwardly revised gain of 4.93 percent a month ago. The Index includes four componentstax burden, initial unemployment claims, real wages and real home prices.
"Real hourly earnings, after experiencing growth in 2009, have deteriorated in 2010 and continue to drag on the Index," said Carl Steidtmann, chief economist with Deloitte Research and author of the monthly Index. Deloitte Research identifies, analyzes, and explains the major issues driving today's business dynamics and shaping tomorrow's global marketplace.
"The other negative contributor appears in real home prices, which resumed their downward trend after a short, two-month upward climb," Steidtmann said. "However, initial unemployment claims remain a bright spot in the Index, with the employment picture slowly improving and initial claims showing a consistent six-month decline. While the tax rate remains at historically low levels, the tax burden may start to edge higher in coming months as new tax legislation goes into effect."
Alison Paul, vice chairman and Deloitte's retail leader in the United States, said the upcoming back-to-school season gives retailers a chance to attract consumers and entice them into buying.
"Consumers may monitor prices and resist impulse buys should they continue to act cautiously," Paul said. "Retailers that can entice shoppers by pulling the right customer conversion levers and provide a helpful and exciting cross-channel shopping experience may be better positioned to lead the pack this back-to-school season."
Highlights of the Index include:
Initial Unemployment Claims: As the employment cycle continues to improve, unemployment claims continue to fall. Although employment gains recently have softened a bit, claims are expected to continue to move downward, though perhaps at a somewhat slower pace.
Real Wages: Real hourly earnings slipped for the fifth consecutive month. With increasing signs that economic growth is softening, real wages could stagnate for a while longer.
Real Home Prices: Home sales quickly fell back with the ending of the homebuyer tax credit. As a result, home prices have also deteriorated and will likely remain soft for several more months. Thus, real home prices may remain a drag on the Index for a while longer.
Tax Burden: The consumer's tax burden declined sharply through most of the recession. In 2010, however, the rate has basically held steady. It remains at a historically low level.
July 18,
2010 by in UnCategorized
By Home Furnishings Business in Business Strategy on July 19, 2010
Dovetail Alliance, a consortium of home furnishings industry service providers, has been selected by buying group Furniture First as a preferred provider to the buying organizations more than 178 members with 385 stores.
As a preferred provider, Longmeadow, Mass.-based Dovetail Alliance and its members will offer a comprehensive set of services to Furniture First members and take part in the organizations annual member symposium, which features seminars and exhibits by a select group of vendors.
The Dovetail Alliance is thrilled to have become a partner with Furniture First and the independent retailers who make up its membership, said Ed Borowsk, Dovetail Alliance CEO. Its a wonderful opportunity for the Dovetail Alliance to showcase our organizations ability to provide very valuable services to Furniture Firsts retailers, who stand out as being among the industrys best operators. Were dedicated to innovating solutions for retailers across disciplines ranging from advertising and marketing to sales training, market research and store design.
Dovetail Alliance is a one-stop resource dedicated to improving the performance of home furnishings retail and manufacturing operations in the U.S. and Canadian markets with service providers in advertising, e-commerce, electronic signage, high impact promotions, media buying, musical logos, sales training, store concepts, store design, transportation, human resources, market research, real estate solutions, traffic counting and turnaround management.
Furniture First, Harrisburg, Pa., was founded in 1994 by a small group of independent furniture retailers who joined together to better compete with national furniture chains. Through collective buying power and the sharing of best business practices, Furniture First members have thrived in increasingly competitive markets. Its 178 members represent more than 385 retail locations nationwide and collectively generate more than $1.3 billion in volume.
July 15,
2010 by in UnCategorized
By Home Furnishings Business in economic news on July 16, 2010
Consumer sentiment weakened in early July to its lowest in 11 months on a resurgence in fears about the economy, a year since the recovery began, according to the Thomson Reuters/
Unversity of Michigan's Surveys of Consumers.
The reversal in sentiment followed the survey's strongest level in more than two years last month on hopes of better job and credit conditions.
The survey's preliminary July reading on the overall index on consumer sentiment dropped to 66.5 from 76.0 in June.
"Income and job prospects were extraordinarily weak and those bleak prospects have made consumers much more cautious spenders," said Richard Curtin, director of the surveys.
The latest survey showed consumers' intention to buy durable items such as cars fell to its lowest in nine months.
"Moreover, consumers reported renewed weakness in the economy and were more likely to anticipate additional problems in the year ahead," Curtin said.
The survey's barometer of current economic conditions tumbled to 75.5 in early July, the lowest since November 2009. This compared with 85.6 in June, which was the highest since March 2008.
The survey's gauge of consumer expectations slid to 60.6, the lowest since March 2009. This compared with 69.8 in June.
The measure on consumers' 12-month economic outlook deteriorated to 65.0 in early July, which was the lowest since April 2009. It stood at 79.0 in June.