October 27,
2010 by in UnCategorized 
By Home Furnishings Business in Financial Reports on October 28, 2010
Ethan Allen Interiors Inc. (NYSE:ETH) reported net income of $3.8 million for the quartered ended Sept. 30, compared to a $13.6 million net loss during the same quarter last year.
Net sales for the quarter were $164.8 million, up 21 percent from the prior year quarter. The company's retail division delivered net sales of $121 million, an increase of 17.3 percent from the prior year quarter. Total written orders booked for the retail division decreased 2.4 percent while comparable design center orders were 3.5 percent higher than the prior year quarter.
"We are pleased with the growth of sales and profitability," said Farooq Kathwari, chairman, president and CEO. "The 'Great Recession' has provided an opportunity to make substantial improvements in most aspects of our vertically integrated enterprise. Written business for the quarter was impacted by the timing of the end of savings events, which ended Oct. 18 this year compared with a Sept. 30 conclusion last year."
The home furnishings retailer maintained strong liquidity and ended the quarter with cash and securities totaling $90.7 million. During the quarter, the company paid $7.7 million to repurchase a portion of its common stock and bonds. An additional $3.0 million of bonds were repurchased in early Oct. 2010.
"While we are faced with an uncertain economic environment, we are cautiously optimistic that due to our many initiatives, we have the opportunity to gain market share and continue to show improvements compared to the prior year in both sales and earnings," Kathwari said. "During the past quarter, we increased our advertising spending and introduced our new campaign, which while maintaining the aspirational value of our brand, also gets the message across about our excellent values, stylish products, quality, and interior design services."
The entire earnings release can be found online.
October 26,
2010 by in UnCategorized
By Aggregated Content in High Point on October 27, 2010
from http://c.moreover.com/click/here.pl?r3510654268&f=10761
The 2010 Fall High Point furniture market concluded on a positive note, said Brian Casey, president and CEO of the High Point Market Authority at a meeting held this morning between the High Point Economic Development Corp.
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October 26,
2010 by in UnCategorized
By Aggregated Content in Green on October 27, 2010
from http://c.moreover.com/click/here.pl?r3512832678&f=10761
When Jaime and Isaac Salm, the brothers who run Mio, a design firm specializing in sustainable home furnishings, moved their studio into an old fortune cookie factory in Philadelphia, passers-by didnt know what to make of it.
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October 26,
2010 by in UnCategorized
By Aggregated Content in Markets on October 27, 2010
from http://c.moreover.com/click/here.pl?r3512720285&f=10761
ATLANTA, GA Four new categories will debut in the Market Temporaries at the January 2011 Atlanta International Gift & Home Furnishings Market, being held January 12-19, 2011 (Temporaries: January 14-18,
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October 26,
2010 by in UnCategorized
By Home Furnishings Business in Customer Service on October 27, 2010
Full-line furniture vendor Abbyson Living has launched its 2011 Drop Ship program from a new 350,000-square-foot distribution center in Plainfield, Ind.
In the last six months, Abbyson Living, Los Angeles, has invested heavily in expanding its logistics, warehousing, distribution and fulfillment. The Midwest warehouse location was selected in order to better access consumers in the region and on the East Coast for its next-day drop-ship program.
Consumers in the region had been accustomed to a six-week wait, but Abbyson's new distribution center has cut shipping times to seven business days from the original order date.
The drop-ship program, which targets e-commerce retailers across the United States, Canada, and South America, offers drop ship of in-stock orders directly to consumers the next day from the day the order is acknowledged.
For more information about our 2011 Drop Ship Program, e-mail Maria Yerukhimova; or visit www.Abbyson.com.