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October 21,
2010 by in UnCategorized 
By Home Furnishings Business in Financial Reports on October 22, 2010
Fabric and ticking supplier Culp Inc. (NYSE: CFI), has revised its outlook for its second fiscal quarter of 2011, which ends Oct. 31.
Culp now anticipates pre-tax income for the period to range from $2.9 million to $3.3 million, lower than the company's previously announced expectation of $3.5 million to $4 million. Culp reported pre-tax income of $3.5 million for the second quarter of last year.
Commenting on the announcement, Frank Saxon, president and chief executive officer of Culp, Inc., said, "Our projected financial results for the second quarter reflect lower overall sales than anticipated, driven by weaker consumer demand trends for furniture and bedding," said President and CEO Frank Saxon. "We anticipate overall sales will be relatively flat compared with sales for the same period last year, whereas we previously announced that overall sales were expected to be up 5 to 10 percent. We have also experienced higher raw material costs in both segments and increased pricing pressure in our mattress fabrics business."
The company expects to report financial and operating results for its second fiscal quarter in late November.
Culp Inc. is one of the world's largest marketers of mattress fabrics for bedding and upholstery fabrics for furniture. The company's fabrics are used principally in the production of bedding products and residential and commercial upholstered furniture.
October 20,
2010 by in UnCategorized
By Aggregated Content in Furniture Retailing on October 21, 2010
from http://c.moreover.com/click/here.pl?r3348965482&f=10761
An early morning fire Thursday damaged a storage building that houses furniture and mattresses belonging to Lexington, N.C.-based Shumaker's Furniture & Appliances.
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October 20,
2010 by in UnCategorized
By Home Furnishings Business in Bedding on October 21, 2010
Specialty bedding retailer Select Comfort Corp.
(NASDAQ: SCSS) reported third quarter net income of $10.5 million for the period ended Oct. 2, compared to net income of $6.9 million for the same quarter last year.
Net sales for the quarter were $160 million, a 9 percent increase compared to $147 million in sales posted in the prior-year quarter. Same-store sales grew 16 percent in the quarter.
"We continue to demonstrate strong sales growth and operating margin expansion, despite an uncertain environment," said Bill McLaughlin, president and CEO. "And we are particularly pleased with our same-store growth as we lapped more difficult comparisons from the third quarter a year ago. The consistency of our results in these market conditions, as well as our strong cash position, reinforces our confidence in our ability to leverage our unique advantages, invest opportunistically and grow market share."
McLaughlin said moving forward the company will continue with its growth strategies of investing in advertising, stores and product development.
Based on third-quarter performance, the company has increased its previous guidance and now expects to report full-year 2010 earnings per share of between $0.52 and $0.55. The company's fourth-quarter outlook anticipates year-over-year profit improvement and positive same-store growth, although at a slower pace, as year-over-year comparisons now are more difficult and the company's outlook for the macro-environment anticipates slow growth and continued volatility.
The company concluded the third quarter with 392 stores and expects to end fiscal 2010 with a comparable number of stores after netting planned store openings and closings. The company anticipates 2010 capital expenditures of about $8 million.
Read the entire earnings release on Select Comfort's Web site.
October 20,
2010 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on October 21, 2010
Miss America 2010 Caressa Cameron will visit American Signature's Value City Furniture flagship store to launch the Miss America Youth Furniture Collection.
On Monday beginning at 6 p.m., at the Columbus, Ohio, flagship, Cameron will greet guests, pose for photos and introduce the whimsical suite of girls' bedroom furniture. American Signature COO Jonathan Schottenstein and Miss America Organization Board of Directors representative Phyllis George also will attend the official launch of the new Miss America licensed furniture collection--a series of girls' bedroom furniture dedicated to inspiring the four tenets of the Miss America pageant: service, style, scholarship and success.
American Signature Inc. is one of the countrys largest furniture retailers with more than 125 stores in operation under the American Signature Furniture and Value City Furniture brands.
October 20,
2010 by in UnCategorized
By Home Furnishings Business in Case Goods on October 21, 2010
Englishman's Fine Furnishings, makers of high-quality, European-style antique reproduction furniture, has launched a new furniture-quality, custom kitchen line.
Englishman's introduced Englishman's Kitchens & Fine Custom Cabinetry late last month in its AmericasMart Atlanta showroom, which was expanded to 9,300 square feet to accommodate the new category. The line also is available through Englishman's Fine Furnishings trade showroom in Smyrna, Ga., which also is open to the public.
"We had received many requests for custom kitchens reminiscent of our English- and European-style furnishings," said Mike Howarth, owner and president. "Since other businesses in the Mart were not offering this type of built-in cabinetry, we knew it would be a good opportunity to create custom kitchens for designers and their clients."
With pre-existing design services and customizable kitchen and dining furniture pieces, Howarth and his staff added high-quality countertop options and an appliance source, creating a one-stop shop for new and remodeled kitchen needs.
The kitchen line includes all components of today's kitchens such as made-to-order cabinetry, shelving, wine racks, and islands in nearly any wood. Finishes are available in mahogany, walnut, oak, burl wood, cherry, oak, and solid paints in all colors and shades.
"We can handcraft the pieces in antique and traditional styles as well as transitional or distressed looks," said Anita Vreeland, Englishman's president of marketing and design.
The company's artisans also can do veneering and inlaid work and incise hand-carved details. There are 20 cabinet hardware alternatives on display, and customers can request custom hardware to match their own tastes. Countertop selections encompass a large number of granite and quartzite choices with several types of edging. The showroom's new kitchen display features both a polished and a honed countertop. Almost any kind of decorative oven hood can be fashioned and built.