August 22,
2013 by in Financial Reports, Industry 
Although J.C. Penney reported a wider-than-expected loss in the second quarter on a nearly 12% drop in revenue, small signs suggest that interim CEO Myron Ullman may be starting to turn things around.
The quarter was the first entirely under Ullman's watch. Ullman returned to the retailer in April to undo the strategy put in place by Ron Johnson, who planned to transform J.C. Penney stores into a series of branded in-store shops.
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Source: Retailing Today
August 22,
2013 by in High Point, Market
Simon Li Furniture is making a short move to a larger High Point Furniture Market showroom in time for the Sept. 9-10 Premarket.
August 22,
2013 by in Financial Reports, Industry
La-Z-Boy Inc. (NYSE: LZB) has declared a quarterly cash dividend on the company's common stock of $0.04 per share.
August 22,
2013 by in Industry, Store Openings
Furniture and textile maker Knoll has opened its first corporate run retail store in New York City.
The store occupies a storefront below its relocated showroom on 6th Ave and 54th St., and aims to be a customer friendly place to browse and buy Knoll products while the showroom will service design trade professionals.
Hunter De La Cruz, the Knoll Shop Manager said that the plan is to update the merchandise mix of the store every 6 to 8 weeks to reflect the season.
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Source: PSFK
August 22,
2013 by in Economic News, Industry
The sudden closure of AP Industries in Canada is difficult for the 150 employees licensees and will impact on the region's local economy.
The furniture manufacturing company, which experiencing financial difficulties for several years, closed its doors last week.
The employees learned of the layoff the night before the closing.
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Source: Radio-Canada.ca
August 22,
2013 by in Business Strategy, Furniture Retailing, Industry
Ashley Furniture Industries CEO Todd Wanek is in Ho Chi Minh City to discuss the possibility of opening another factory in the southern province of Binh Duong.
He has met and worked with Pho Xinh CEO Duong Quoc Nam on a new plan for bilateral cooperation. The two companies recently signed in the U.S. a memorandum of understanding (MoU) on joint investment cooperation worth $10 million in July.
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Source: Bao Moi.com
August 21,
2013 by in Industry, Web Retail
West Coast retailer Mor Furniture for Less has revamped its Web site to provide an easier, more enjoyable experience purchasing furniture online.