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Brought to you by Home Furnishings Business
January 25,
2011 by in UnCategorized 
By Home Furnishings Business in Las Vegas on January 26, 2011
Las Vegas Furniture Market reported stronger-than-expected opening day attendance and order writing.
By Monday's close, market officials said buyer attendance was up 19 percent over the Summer Market and 7 percent higher than Winter Market a year ago. The also reported significant increases in international buyers, designers and gift retailers.
"We are off to a rip-roaring start," said Robert Maricich, president and chief executive officer of World Market Center Las Vegas. "We are seeing optimism and I hope that continues with days of order writing."
Maricich said the mood of the day was "let's play to win."
"Manufacturers and importers have cut their costs to the point that if they have survived thus far in the great recession, they are positioned to grow," Maricich said. "I am especially encouraged by the amount of new product introductions in Las Vegas this week."
Jeff Hiller, owner of Proaction Marketing Group and president of the Sustainable Furnishings Council, said retailer confidence is up, and that can only bode well for Market. Hiller discussed the economic outlook during his opening day seminar, stating that the industry will continue to see moderate sales gains through the first half of 2011 due to the lag effect on home sales gains the year before. Hiller quoted a recent Forbes report that said 49 percent of retailers see recovery as an opportunity to grab market share.
Smart businesses see stabilization in the economy as an opportunity to get ahead, he said. Hiller went on to offer retailers a road map to a successful year. The single most important thing to do to improve sales is instill confidence throughout your organization by your actions not just words. It affects the ability of your staff to perform at their best and also influences your customers decision. People are drawn to optimism; we all want to do business with winners. Attending markets, flooring new products, and communicating the news with excitement are all part of it. ¨
Several buyers and exhibitors also expressed enthusiasm.
"World Market Center Las Vegas is a fantastic forum for retailers," said Gene Lunger, vice president of sales with South Florida-based City Furniture-Ashley HomeStores. "There is no market I am able to visit where it is possible to accomplish more with such great time efficiency."
Edward Nader, a buyer and owner of Nader's Gallery in Shreveport, La., said that his store had an impressive year last year and he was looking forward to finding new and different products to add to his current lines.
"We had a great year and we are looking to expand our business. We are here looking for furniture and accessories," he said. "From the moment we got off the elevator we started seeing great new stuff."
For more retailer and exhibitor comments on market, read the full release here.
January 24,
2011 by in UnCategorized
By Home Furnishings Business in Bedding on January 25, 2011
Uncovered innersprings from China shipped to the U.S. market from Aug. 6, 2008 through Jan. 31, 2010, are subject to a 234.5 percent duty.
That's according to a final determination announcement from in the U.S. Department of Commerce in the first administrative review of an antidumping order on Chinese innersprings.
DOC issued the orginal antidumping order in February 2009. The International Trade Commission instituted the investigation effective Dec. 31, 2007, following receipt of a petition filed with the Commission and the Department of Commerce by Leggett & Platt Inc., Carthage, Mo.
January 24,
2011 by in UnCategorized
By Home Furnishings Business in Executive Changes on January 25, 2011
Mattress specialty retailer Mattress Firm has promoted Jason Goodman to director of multi-channel business development, a new role.
In addition, founder Paul Stork has returned to the company as manager of franchising.
Goodman oversees the multi-channel sales department, as well as maintain oversight and overall responsibility of the franchising department. His added focus includes expanding and growing the company into new revenue channels that provide untapped or underdeveloped opportunities. Most recently, Goodman served as manager of franchising and in two years grew the department from 52 franchise locations to 78 locations. He strengthened the franchise foundation with a keen focus on growth, consistency and clear standard operating procedures to prepare for more aggressive expansion in 2011.
"Jason has been a key player in expanding the Mattress Firm brand and, as we continue our strategy for growth, his role in the niche markets of franchise and external revenue streams will prove to be instrumental in establishing Mattress Firm as the number one specialty mattress retailer in the nation," said Steve Stagner, CEO of Mattress Firm, Houston.
Stork, one of Mattress Firm's three founders, returns as manager of franchising and will work closely with Goodman on the growth of the department. Stork has day-to-day responsibility for assisting the current franchise owners in the growth and development of their businesses. He has a long-standing relationship with many franchise partners and vendors, which allows for a seamless transition into the role. Additionally, Stork will pursue new franchise markets and implement best practices across the network.
"I am excited to be back and see how much Mattress Firm has grown since it started in 1986. I am particularly excited to be part of the franchising department because it gives me a chance to re-connect with old friends and business partners and interact with all functions of the company," said Stork. "Additionally, it provides an opportunity for entrepreneurs to grow a successful, profitable business from a model that has continued to evolve since Harry Roberts, Steve Fendrich and I started the company 25 years ago."
Stork co-founded Mattress Firm with Roberts and Fendrich in Houston. He served as president for 15 years and led the sales, merchandising and operations functions. His return to the organization completes the homecoming for all three founders: Roberts rejoined in January 2010 in a franchise development role and Fendrich recently returned as chief strategy officer in September 2010.
"We are thrilled to have all three founders of Mattress Firm back with us in roles that are centered on our growth," said Stagner. "You can feel their passion for Mattress Firm when they enter a room and they have a tremendous amount of industry knowledge that will help propel future growth."
Mattress Firm has more than 600 stores across 22 states.
January 24,
2011 by in UnCategorized
By Home Furnishings Business in Retail Closings on January 25, 2011
J. C. Penney Co. (NYSE: JCP) announced Monday that it will close underperforming store locations and wind down its catalog and outlet operations.
The company also will streamline its Call Center operations and Custom Decorating business.
JCPenney, Plano, Texas, is taking the actions to focus on its highest potential growth opportunities by reducing investment in areas of the business that no longer contribute meaningfully to its financial performance.
"We are focused on increasing profitability and accelerating our growth," said Chairman and CEO Myron E. Ullman III. "To achieve this, we undertook a thorough evaluation of our operations to ensure we are managing costs and allocating our resources to the strategies that will best drive both our top and bottom line, with the objective of delivering enhanced returns to shareholders."
The actions the Company is taking include the following:
* Closing five JCPenney department stores located in Morrow, Ga.; West Dundee, Ill.; Des Moines, Iowa; High Point, N.C.; and Culpeper, Va.; and one JCPenney Home Store located in Duluth, Ga. These six locations no longer meet the Company's profitability threshold.
* Completion of the wind down of the company's legacy catalog business, including exiting its catalog outlets. This business includes a total of 19 outlet stores, which carry a significant amount of catalog merchandise. This will occur over the course of 2011 and 2012.
* Consolidation of its furniture outlet business, closing one store located in Rancho Cucamonga, Calif. Upon the closing of this store, the company will have two remaining furniture outlet stores to handle the disposition of surplus furniture from its retail store operations.
* Realignment of JCPEnney's Call Center operations through closing its facilities in Grand Rapids, Mich., and Albuquerque, N.M., and consolidating all activity supporting its department store and online customers into three existing facilities in Columbus, Ohio, Pittsburgh and Milwaukee.
* Reorganization of the company's Custom Decorating business to redeploy resources that drive productivity and profitability while creating a more compelling offer for customers. As part of this process, JCPenney will close its Sacramento, Calif., Custom Decorating Fabrication facility, leaving one remaining facility in Statesville, N.C., where it will increase its staffing to support customer demand. Additionally, the Company will move from managing 525 individual, in-store custom decorating studios to supporting 300 studios in key markets.
The company will initiate these actions over the course of 2011 and expects that they will result in a positive impact to earnings in 2012, the first full year of implementation, of approximately $25 million to $30 million, or approximately $0.07 per share. Additionally, there will be estimated one-time charges of approximately $30 million, or $0.08 per share, in the fourth quarter of fiscal 2010 and approximately $20 million, or $.05 per share during 2011 to reflect the transition.ailable for up to 90 days after the event.
January 24,
2011 by in UnCategorized
By Aggregated Content in Las Vegas on January 25, 2011
from http://c.moreover.com/click/here.pl?z3973978132&z=1250249027
The old retailing adage, "you can't sell from an empty cart," was clearly the apparent motivator for buyers attending opening day of the Las Vegas Market at the World Market Center on Monday.
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