Daily News Archive
Brought to you by Home Furnishings Business
January 2,
2011 by in UnCategorized 
By Home Furnishings Business in Business Strategy on January 3, 2011
Furniture sales promotion specialist Profit Management Promotions has details on its "5-year-survival" seminar at Las Vegas Furniture Market's winter show.
The workshop, "Is Your Business Ready for the Next 5 Years?", is set for 1:30-2:30 p.m., Jan. 24, in World Market Center's Building C Retail Resource Center. No registration is required.
The seminar sprang from a two-year review of PMP client assignments, which showed that fewer than 10 percent of furniture retailers have formal strategic plans in place to address changes in the marketplace and potential opportunities.
"Most businesses map out five-year strategic plans to forecast and act upon changing market conditions, yet a shockingly small number of furniture retailers have workable action plans in place," said Ron Cooper, Jamison, Pa.-based PMP's director of sales and marketing. "To keep afloat in today's rocky economy, they need to pull together a five-year survival plan. What's more, they need to do so now."
Cooper noted that such plans needn't be complex, but they do need to address critical financial, operational and marketing-related issues that must be acted upon immediately.
The PMP Las Vegas seminar will study the major marketplace challenges confronting furniture retailers including the multitude of new choices consumers have for purchasing home furnishings such as big box stores, growing national chains, closeout stores, independent outlets, and web retailers; and the changing attitudes of today's value-oriented consumers.
Cooper will present the seminar along with colleagues PMP President Michael J. Egan and Vice President of Operations Hector Mustafa. They will cover a range of considerations tied to retailers' strategic options: staying the course with their current strategies, pursuing restructurings, investing in capital improvements, business expansion, or liquidating.
"The fact is the business models of many furniture retailers may have worked in the past, but they're probably not the right models for today," Cooper said. "One thing is clear: for most retailers, new brand-positioning and marketing strategies are needed to contend with increasing economic pressures and competitive threats. Our seminar will outline the key management questions furniture retailers need to be asking themselves today in order to position themselves for substantive growth tomorrow."
Cooper has more than 25 years' experience as a retail store owner and marketer of bedding and home furnishings products. Cooper and his colleagues at PMP are members of the National Home Furnishings Association, the International Home Furnishings Representatives Association and multiple regional groups serving the home furnishings market.
January 2,
2011 by in UnCategorized
By Home Furnishings Business in Community/Charitable Support on January 3, 2011
WorldBed surpassed the 20,000 mark for total emergency field beds funded and delivered this year to aid in disaster relief areas around the world.
The non-profit organization reached the number as it continued to form new charitable partnerships, the latest of which raised awareness of its Haitian relief effort over the holidays with support from Vision Critical, a Vancouver, British Columbia-based global technology and research firm.
"Reaching this first major milestone for WorldBed could not have been fathomable without the contributions of individuals and dozens of organizations from both within and beyond the home furnishings industry," said Laura Castro, executive director of WorldBed. "Now, we are proud to welcome yet another esteemed organization with a wide global reach as a partner. When Vision Critical came to us with the desire to become a sponsor, we were excited to partner with them on an awareness campaign. Initiatives like theirs go a long way to help us accomplish our goal of providing 200,000 beds to those in need worldwide."
Corporate sponsors of WorldBed have ranged from single-location retail outlets to large retail chains, major furnishings industry suppliers and world-renown philanthropic and disaster relief groups. Earlier this year WorldBed was granted tax-exempt status by the U.S. Internal Revenue Service, establishing WorldBed as an independent, non-for-profit organization
To raise awareness of its progress and seek partners in the home furnishings industry, WorldBed will exhibit at the Jan. 24-28 Las Vegas Furniture Market in the Specialty Sleep Association showroom, WMC-C1350. SSA donated the space.
December 29,
2010 by in UnCategorized
By Home Furnishings Business in economic news on December 30, 2010
Furniture orders from retailers fell in October, according to High Point accounting and consulting firm Smith Leonard's survey of manufacturers and distributors.
It was the second straight month orders fell. October orders were off 5 percent compared with October 2009, and down 4 percent from this year's September levels. Year-to-date, new orders are up 5 percent over the first 10 months of 2009 versus a 6 percent gain through September.
October shipments rose 3 percent over October 2009, but fell 6 percent compared with September 2010. Year-to-date shipments were 8 percent ahead of last year, when they were off 18 percent from 2008.
Backlogs fell slightly from September due to shipments exceeding orders. Backlogs in October were 3 percent higher than a year ago, down from a 7 percent increase reported last month.
Receivables were up 9 percent over October 2009, "and much more in line with year-to-date shipments than they have been over the last couple of months," noted Smith Leonard Managing Partner Ken Smith in the Furniture Insights survey report.
Receivables remained flat compared with September despite decreased shipments.
"There were a couple of pretty large bankruptcies at retail in late November that may have some impact in the results for November and December," Smith said.
Inventories fell slightly but remained 19 percent ahead of last year's levels.
"We continue to believe that most of this relates to better order rates early in the year that created stocking more inventories," Smith said. "As orders fell off, it was not easy to adjust purchases and inventory levels. We expect inventories to come down over the next couple of quarters."
Factory and warehouse employment fell 1 percent from October 2009, the first decline since March 2010; and employment fell 2 percent from September levels. Still, October payrolls were 2 percent higher than the same month last year; and 10 percent higher year to date.
In his summary of survey results, Smith noted that October's decline in new orders in October was not totally
unexpected, based on conversations with manufacturers and distributors.
"As has been the case in the last two months, the results by participant have varied by a great degree, with some posting some reasonable gains, but the majority reporting declining order rates, which will lead to declining shipments in some of the coming months," he said. "With that said, there does seem to be some good news on the horizon. Most reports of holiday retail sales have been good. In spite of the really rough weather in the last two weeks, it appears that a good deal of consumer spending is starting to occur.
"While unemployment remains high and certainly a concern, for the most part, consumers are no longer worried about a double dip recession as the economy seems to be gaining some strength. Job losses have subsided overall. The stock market has returned to mostly 2008 levels. The tax cut extensions finally came through. So at least consumers do not feel the need to hunker down as much as they did even a few months ago. In addition, consumers have been reducing debt and saving more."
December 29,
2010 by in UnCategorized
By Home Furnishings Business in Retail Closings on December 30, 2010
Carls Furniture will close stores in Stuart and North Palm Beach, Fla., the Coconut Creek, Fla.-based furniture retailer announced Wednesday.
Carl's currently operates nine stores plus clearance centers totaling more than 1 million square feet of showroom space. The retailers other locations will continue operation.
Liquidation sales began Wednesday at the Stuart and North Palm Beach stores. All merchandise previously purchased or on order at the stores will be delivered and serviced. The two stores will remain open until all inventory is sold.
Deere Park & Associates, Northbrook, Ill., is consulting with Carls on the store closing sales.
"The proven reputation of Deere Park offers Carls Furniture the expertise and experience to insure these stores are closed with the dignity and service Carl's has established throughout their history," a statement from Carls owners said. "We value Deere Park's advice and support."
December 29,
2010 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on December 30, 2010
Two employees of William C. Franks Furniture in Wayne, Mich., were killed in a Wednesday explosion that destroyed the store, the Detroit Free Press reported.
Store owner Paul Franks was severely burned in the blast, believed to have been caused by a gas leak. He is in serious but stable condition at the University of Michigan's burn trauma center.
The explosion forced an evacuation of nearby businesses and residences. According to the report, Consumers Energy had received two calls in the area about the smell of gas hours before the explosion, and technicians already were nearby when the roof of the store collapsed.