December 6,
2010 by in UnCategorized 
By Home Furnishings Business in Financial Reports on December 7, 2010
Hooker Furniture (NASDAQ-GS: HOFT) reported Tuesday that sales rose 6 percent to $55.7 million for fiscal third quarter 2011.
Net income for the period ended Oct. 31 increased $213,000 to $1.2 million, or $0.11 per share, compared to net income of $957,000, or $0.09 per share, for the comparable period last year.
Through fiscal 2010's first nine months of the fiscal year, Martinsville, Va.-based Hooker's net sales increased 6.5 percent to $9.8 million; and the Company reported net income for the first nine months of $3.4 million or $0.32 per share, compared with net income of $38,000, or less than one cent per share, in the fiscal 2010 nine-month period.
"Given weaker than expected consumer demand during the summer and early fall, we're gratified to have achieved our second consecutive quarter of year-over-year sales increases and to have remained consistently profitable throughout the year," said Paul B. Toms Jr., chairman and chief executive officer. "We were successful this quarter in focusing our inventory mix on those best-selling products that drive our business. Consequently, as we've seen demand pick up since early November, we are well-positioned from an inventory availability standpoint to ship customer orders for in-line merchandise immediately."
Hooker credited increased third-quarter sales to higher unit volume across all divisions as the company continued to make progress in shipping an order backlog elevated during the first half of the year from production delays and shipping bottlenecks.
During the quarter, wood furniture sales increased nearly 4 percent, while upholstery sales increased approximately 11 percent. Imported upholstery sales increased nearly 50 percent compared with the prior-year quarter, while domestic upholstery sales were essentially flat for the same period.
Looking ahead, Toms noted that Hooker has developed products and programs to stimulate business and engage the consumer, reduced costs, improved quality and kept best-selling products in-stock.
"We had a solid market in October, and more importantly, the products we have introduced over the last few markets are in the pipeline and performing well at retail," Toms said. "All along, we've said that all we needed to turn the corner was a little help from the economy. We've been encouraged by what we've heard and seen in the last 30 days about improved business as we have visited retailers around the country. As orders trend in a positive direction, we are well-positioned to leverage the current uptick in consumer demand, as well as any sustainable improvement that may materialize."
December 6,
2010 by in UnCategorized
By Home Furnishings Business in Markets on December 7, 2010
AmericasMart has launched HD Home, a juried exhibit set to debut at the January 2011 Atlanta International Gift & Home Furnishings Market, Jan. 14-18.
HD Home (High Design Home) is based on the success of its HIGH DESIGN collection in the Market's temporary spaces. HD Home will feature an exclusive juried lifestyles collection of design-driven home furnishings and home decor manufacturers.
AmericasMart has invited a select group of vendors for the new juried temporary collection, which will be staged in the "Center Hall" in the center of floor 1 in Building 1. Each of the companies will have approximately 900 square feet of space to design and showcase their product offerings.
The chosen designers are:
* Julian Chichester, an eclectic line of high-design furniture and accessories, debuting the Mr. Brown collection in Atlanta at the January show.
* Bourgeoisie 3D, an edited collection of contemporary classical furniture, all made in America using materials made in America.
* Design Legacy by Kelly O'Neal, furniture featuring a twist on vintage-inspired design with all products created by O'Neal or a small group of designers.
* Ann Gish, creator of luxurious fine linens and bedding.
* French Laundry Home, heirloom, quality, U.S.-crafted home furnishings products.
* Tara Shaw, antique reproductions secured and inspired by continuous travel around the globe.
* Modern History, a high-end, design-driven furnishings line that tweaks traditional looks via cleaner lines, scale and proportion.
* Camilla House, a design atelier and manufacturer of garden products.
AmericasMart is hosting an exclusive preview party at the January Market co-hosted by media sponsor Atlanta Homes & Lifestyles to celebrate and introduce HD Home.
December 6,
2010 by in UnCategorized
By Home Furnishings Business in Community/Charitable Support on December 7, 2010
The University of Nebraska at Omaha will honor Nebraska Furniture Mart executive Robert Batt for alumni achievement, Associated Press reported.
Batt a 1976 UNO graduate, is grandson of Nebraska Furniture Mart founder Rose Blumkin. He will receive a citation for alumni achievement at UNO's Dec. 17 graduation ceremonies.
In addition to his work with NBF, Batt serves on the Nebraska Liquor Commission and is a member of the Sarpy County Sports Commission.
Omaha-based Nebraska Furniture Mart is owned by Berkshire Hathaway, also of Omaha.
December 6,
2010 by in UnCategorized
By Aggregated Content in on December 7, 2010
from http://c.moreover.com/click/here.pl?z3809195117&z=1250249029
Ameriwood Industries Inc. has been fined $60,000 by the U.S. Department of Labor's Occupational Safety and Health Administration for two alleged serious and two alleged repeat safety violations. According to an OSHA release, Ameriwood was cited for failing to train employees in safe work practices and not requiring them to wear proper safety equipment when working on electrical panels.
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December 5,
2010 by in UnCategorized
By Home Furnishings Business in Bedding on December 6, 2010
Dow Chemical's polyurethanes business unit is now lead sponsor of the Specialty Sleep Association's environmental and safety program.
Dow's support helps enable the development of a new SSA consumer education section on its Web site, a training module for retail sales associates, and the creation of a social networking platform all designed to give greater guidance and advice to consumers on buying environmentally friendly sleep products.
"Dow Polyurethanes demonstrates its commitment to the bedding industry by offering innovative technologies and supporting leading efforts to develop standards for sustainability and consumer education," said Umberto Torresan, North American market manager for Dow Polyurethanes, Friant, Calif. "The SSA's new environmental program is one of the key initiatives helping consumers better understand the composition of the products they are buying and their impact on our environment."
SSA President Dale Read said the Dow sponsorship is an important step in the consumer education portion of the group's program.
"Over the past several months, we have been working closely with a number of manufacturers who are beginning to use our seals, and retailers who have expressed interest in making sure their suppliers are a part of our program," Read said. "Dow's funding enables us now to focus on the critical part of the program that is directed toward educating the consumer."
Read said the additions to the SSA Web site already are underway, and that the retail sales associate training program and the social networking platforms would be complete in the next 60 days.
SSA's environmental seal program offers three progressive levels of environmental and safe levels that manufacturers can attain. For each level there is a seal affixed to the mattress that explains what standards have been met, and a label in which the manufacturer lists the ingredients inside the mattress.
Boyd Specialty Sleep and Natura World are the first two national manufacturers to join onto the program. Nearly a dozen more manufacturers are in the application process to adopt the new program for their brands.