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From Home Furnishing Business

Ikea Plans to Expand Retail Footprint

Swedish furniture retailer Ikea plans to accelerate store expansion, a part of its strategy to double sales to around $66 billion by 2020.

The announcement came from Ikea veteran Peter Agnefjall, who became CEO last week. Agnefjall aims to generate 5 percent annual sales growth in existing stores, while another 5 percent sales will come from new store openings.


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Source: Retail Business Review

'Mattress Mack' Recovering from Heart Procedure

Houston's furniture king Jim McIngvale , known to his fans as "Mattress Mack," tweeted on Thursday after undergoing a heart procedure at St. Luke's Hospital.

Well wishes flooded his Twitter page after he tweeted, "I had a procedure on my heart today @ the TX Heart Ins. @ St. Luke's for a condition called PFO. Looking fwd to getting back to work soon."

McIngvale has more than 3,000 followers on the social networking site.


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Source: Houston Chronicle

Consumer Spending Increases for a Third Month

Consumer purchases, which account for about 70 percent of the economy, rose 0.1 percent after a revised 0.6 percent increase the prior month that was larger than previously estimated, the Commerce Department reported today in Washington.

The median forecast in a Bloomberg survey of economists called for a 0.3 percent rise. Incomes increased 0.1 percent, down from 0.3 percent the previous month.


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Source: BusinessWeek

Ameriwood Fined $50,000 by OSHA

Tiffin, Ohio-based Ameriwood Inds. has been fined $50,000 by the Occupational Safety and Health Adminisration for unsafe equipment.

OSHA said the company failed to use energy-control procedures on foam cutting machines, putting workers at risk.

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Furniture Brands Board Member Resigns

A Furniture Brands Internatinoal board member has resigned after a 15-month stint on the furniture maker's board. Kent J. Hussey has resigned as a director.

Furniture Brands said in a regulatory filing today that Hussey resigned last Friday. His decision to leave the board was not a result of disagreements with the company or with matters related to company operations, the filing said.


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BDI Names VP Marketing, Sales

BDI has named Jim Lahren  vice president of marketing and sales.

La-Z-Boy Honored by Ronald McDonald Charities

The Ronald McDonald House Charities has honored furniture supplier La-Z-Boy as the recipient of the 2013 of the RMHC Outstanding Stewardship Award.

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