From Home Furnishing Business
Stanley Furniture to Jump Back into Youth, Nursery Furniture
2015 by in Business Strategy, Industry, Product, Youth, Juvenile Furniture
The case goods company announced last April that it would shutter its Young America business because the division couldn’t achieve the needed revenue to be profitable.
The announcement to reenter the category follows this week’s news that the company said it will report a 15 percent increase in fourth quarter sales from continuing operations. Stanley also said it expects to report its fourth consecutive sequential quarter of improved operating results along with profits at the operating level for the fourth quarter of 2014.
“Stanley is now operating profitably,” said Glenn Prillaman, president and CEO. “With the help of our loyal customers and patience of our shareholders, our team has successfully transformed the company into a growing design, sourcing and marketing company with momentum in its business and a brand with a marketable heritage as a style leader and source of quality furniture. The flexibility of our operations model as well as our experience and relationships in the nursery and youth furniture business position the company to now expand and grow profitably through product line extension."
The company said it will work closely with its sales force, customer base and overseas manufacturing partners to develop and execute a unique strategy involving a diversity of styles properly marketed to today's consumer.
"Innovating is never easy, and we know there are challenges to any new product launch. However, we can assure prospective customers that our plan includes each of the components of a modern business model designed to attract this product category's target consumer," Prillaman said. "Our time in the marketplace as a manufacturer, marketer and supplier to the most popular retail brands in the category today uniquely position Stanley to help the industry's traditional channels of distribution that have recently struggled in the segment. These retailers have the assets and ability to serve this consumer well when paired with the right partner. Nursery and youth furniture is thriving in certain channels and it remains one of the most powerful and effective ways a retail store owner can attract and retain younger female consumers in an online age.”
The company closed its Young America factory in Robbinsville, N.C., last year.