HFN The Weekly Newspaper for the Home Furnishing Network back issues from February 2001:
ASSET-BASED LENDING SWELLS.
Feb 05, 2001 ... Many companies, including retailers, are turning to asset-based lenders to fund their growth due to the increasingly competitive nature of the macro business environment. Stepping back and looking across all industries, it becomes clear that loan volume has been steadily ...
FINANCIAL BRIEFS.
Feb 05, 2001 ... Positive Sign for Same-Store Sales Several retailers reported same-store sales for January last week that were near or slightly above expectations. Sales were fueled by heavy clearances across several channels, as well as colder weather. Most retailers will be posting same-store ...
WHEN THE GOING GETS TOUGH, THE FACTORS GET GOING.
Feb 05, 2001; ... NEW YORK-More tough times ahead is the forecast from the factoring community, who see the impact of the Federal Reserve's two recent interest-rate cuts on the retail industry not taking effect until at least the second half. Asset-based lenders and factors aren't complaining ....
STUDY: E-TAILERS ARE ALIVE AND WELL -- AND IGNORING MOST COMPLAINTS.
Feb 05, 2001; ... NEW YORK-Despite the washout of "pure-play" dot-coms last year, online retailing in the United States and 11 other countries is winning over increasing numbers of consumers, who are also "spending more on a greater range of merchandising categories," according to a newly issued global ...
WHO LET THE JOBS OUT?
Feb 05, 2001; ... All of sudden, there are layoffs. Lots and lots of layoffs. As if anyone needed any more proof that things have changed, ever since around the holidays, there has been a steady -- indeed, relentless -- stream of news from some major American corporations making some major ...
DECEMBER WEB SPENDING RISES.
Feb 05, 2001; ... NEW YORK-Consumers increased their online spending for home products in December by more than a fifth, even as they cut down on total Web-based purchases. A monthly survey conducted by Forrester Research, Greenfield Online and the National Retail Federation of shoppers' buying ...
FURNITURE BRANDS EARNINGS DOWN IN Q4.
Feb 05, 2001 ... ST. LOUIS-Furniture Brands International reported fourth-quarter earnings of $24.3 million, down 16.6 percent from a year ago, on net sales of $519.4 million, off 0.3 percent. For the year, net sales were $2.1 billion, up 1.3 percent from the previous year. Net earnings for the ...
HEILIG-MEYERS TO CLOSE 116 MORE STORES.
Feb 05, 2001; ... RICHMOND, Va.-Heilig-Meyers, the beleaguered furniture retail giant operating under Chapter 11, said it will close an additional 116 stores over the next three months. The closings will leave Heilig-Meyers with about 400 stores, less than half the 814 it operated when the ...
Q4 SHEETS COME UP SHORT AT SPRINGS AND WESTPOINT.
Feb 05, 2001; ... NEW YORK-Slow consumer demand that spawned a higher level of inventory and high operating costs have significantly pulled down fourth-quarter sales and earnings of Springs Industries and WestPoint Stevens. Both mills said they were not expecting to reap solid gains until the back half of ...
NEW BRIEFS.
Feb 05, 2001 ... Selby, Mann Divvy Up Cohen's Duties at Sears Alan Lacy, chairman and chief executive officer of Sears, moved swiftly to fill the post left vacant by Mark Cohen, the former president of soft lines and chief marketing officer, with two senior executives. David Selby ...
SAKS NAMES JONES TO HEAD DEPARTMENT STORE GROUP.
Feb 05, 2001; ... Putting an end to a seven-month search, Saks Inc. named George Jones, a former Warner Bros. executive, to the newly created position of chief executive officer of its ailing Department Store Group (DSG), effective March 1. Jones' first order of business in his new role is to ...
SAKS, DIVESTING 9 STORES, INSISTS DSG NOT FOR SALE.
Feb 05, 2001; ... BIRMINGHAM, Ala.- Saks Inc. will sell nine of its traditional department stores in three Southern states to St. Louis-based May Department Stores Co. for an estimated $310 million in cash. Asked if the news feeds ongoing speculation that Saks is exploring the divestiture of its ...
SHOPKO JOINS THE RANKS OF DOWNSIZING CHAINS.
Feb 05, 2001; ... GREEN BAY, Wis.-Regional discounter ShopKo Stores will close 23 ShopKo units, cut 2,500 jobs and shutter its distribution center in Quincy, Ill. The news marks the latest in a string of retail store closings over the past few weeks at such chains as J.C. Penney, Sears and ...
PIER 1 TO BUY CARGO FURNITURE.
Feb 05, 2001; ... FORT WORTH, Texas-Pier 1 Imports has agreed to buy furniture wholesaler and retailer Cargo Furniture from its parent company, Tandycrafts. The transaction is expected to close within 30 days. The acquisition price was not disclosed. "We've been looking for something with real ...
EX-STROUDS CEO CHINNI TO BE PENNEY'S NEW HOME CHIEF.
Feb 05, 2001; ... PLANO, Texas-Charles Chinni, the former chief executive officer of Strouds -- the bankrupt bed and bath chain -- is stepping into the top home spot at J.C. Penney as senior vice president and general merchandise manager for home and fine jewelry. As GMM, a new title for the $33 ...
NEW HIGH POINT GROUP PLANS SHOWROOM, HOTEL TAXES.
Feb 05, 2001; ... HIGH POINT, N.C.-High Point has a new agency in charge of the International Home Furnishings Market that proposes new taxes -- including a showroom tax -- that would raise about $1 million a year to provide more parking and improve market services. A group of industry and city ...
THE STATE OF THE HOME; HOW THE CHANGING SHAPE OF THE AMERICAN HOUSE IS IMPACTING THE HOME FURNISHINGS PRODUCTS THAT GO INSIDE.
Feb 05, 2001; ... Inner Space: A Decade of Growth In Homes In housing, too, size matters. Or so one might conclude from the changes in single-family home construction over the past decade. The average size of a newly built single-family home reached 2,250 square feet in ...
NEW FORUMS OF FASHION.
Feb 05, 2001; ... Some of the most innovative ideas and products at last month's home furnishings shows in Europe were not at the exhibitors' booths, but in the conceptual spaces of the trend forums at many of the shows. An abundance of new concepts for designers and retailers were on display in these ...
PERGAMENT MAKES CUTBACKS.
Feb 05, 2001; ... MELVILLE, N.Y.-Pergament Home Centers laid off nearly all of its buying staff last week, according to a source within the company. Meanwhile, the company began a chainwide sale, marking down merchandise up to 30 percent. Depleted shelves are not being re-stocked, and all sales are final. ...
MCILQUHAM MOVES UP AT SEALY.
Feb 05, 2001; ... HIGH POINT, N.C.-Dave McIlquham has been named president and chief operating officer of Sealy. McIlquham will assume the duties of president, a position that had been filled by Ron Jones. Jones continues his duties as chairman and chief executive officer. The office of chief ...
FORESIGHT IS `20/20' IN IFDA'S LOOK AT HOMES OF THE FUTURE.
Feb 05, 2001; ... Some people would have you believe the future is now. But one group of forward-thinkers who gazed into a crystal ball to take a peek at the American home, circa 2020, have a different opinion. Their verdict? You ain't seen nothing yet. According to the findings of the ...
TRADE SHOW CALENDAR.
Feb 05, 2001 ... february 3-7 San Francisco International Gift Fair The Moscone Center, The Concourse Exhibition Hall San Francisco (800) 272-SHOW or (415) 346-6666 4-7 Washington Gift Show Capital Expo Center Chantilly, Va. ...
CONFIDENCE DROP MEANS LESS SPENDING.
Feb 05, 2001; ... NEW YORK-January's drop in consumer confidence to its lowest point since December, 1996, foretells a coming shortfall in spending for several categories of home furnishings, including floor coverings and major appliances, as well as for new and used housing. Whether compared to ...
EDGECRAFT, LIFETIME SETTLE PATENT SUIT.
Feb 05, 2001; ... AVONDALE, Pa.-The EdgeCraft Corp. has settled a suit it filed against Lifetime Hoan Corp. In the suit, EdgeCraft alleged Lifetime Hoan infringed on four patents covering the method, apparatus and design for certain manual knife sharpeners. In papers filed in U.S ....
LIFETIME NAMES 2 UNIT PRESIDENTS.
Feb 05, 2001; ... WESTBURY, N.Y.-Lifetime Hoan has added to its growing executive roster with appointments in two newly created positions. The company has named Robert Reichenbach president of its cutlery division and Larry Sklute president of its tools and gadgets business. Until ...
HOME DEPOT WOOING WOMEN WITH JENNINGS DESIGNER GROUP.
Feb 05, 2001; ... NEW YORK-Looking to strengthen its appeal with female shoppers, The Home Depot has teamed up with television host Lynette Jennings for a new line of wallpaper, borders, area rugs and a paint palette. "Home Depot is priced right, but we want people to know we are in the design ...
TEXTILES BRIEFS.
Feb 05, 2001 ... CMG Elects de Sibour President The board of directors of Color Marketing Group (CMG) elected Jay de Sibour, senior director of sales and marketing services for Pantone Inc., president to serve this year and next. In his new role, de Sibour, recognized by CMG for his achievement ...
WARM GOODS TO HEAT UP N.Y. MARKET.
Feb 05, 2001; ... New York-Manufacturers of warm goods are not resting on their laurels of higher fourth-quarter sales. They're going for more gold with extensive collections of throws, blankets, down products and flannel sheets in high-fashion and holiday looks at the New York Home Textiles Market. ...
RINGING IN THE OLD; NOSTALGIA WILL BE DRIVING TABLE AND PILLOW INTRODUCTIONS FOR THE HOLIDAYS THIS YEAR.
Feb 05, 2001; ... NEW YORK-Holiday 2001 will hark back to earlier times, judging by introductions at this week's New York Home Textiles Market. "There are two themes emerging, but throughout both, there's a movement backward," said Chris Mooney, vice president of marketing and design at Avon Home ...
RTA READY TO ASSEMBLE A REBOUND AFTER TOUGH 2ND HALF.
Feb 05, 2001; ... HIGH POINT, N.C.-The year 2000 was a boom-and-bust period for ready-to-assemble furniture, with 20 percent sales increases in the first half offset by flat and then declining sales growth in the second half. According to NPD HomeTrak, total sales of RTA in mass merchants, ...
A SALON APPOINTMENT; PARIS' WINTER SHOW SALON DU MEUBLE IS BECOMING FOR U.S PLAYERS; PARIS' WINTER SHOW SALON DU MEUBLE IS BECOMING DE RIGUEUR FOR U.S. PLAYERS.
Feb 05, 2001; ... PARIS-Designers and merchants on the lookout for the next big thing can add another stop to their list of winter shows to visit: Salon du Meuble de Paris. The annual French furniture show is becoming increasingly important in the global market. At this year's show, there were ...
FLOOR COVERING BRIEFS.
Feb 05, 2001 ... Anso Nylon to Launch Web Site Anso Nylon has announced plans to launch a new Web site, Anso.com, in the first quarter. Anso.com will be an online resource allowing retailers and consumers to keep apprised of the latest industry news, download advertising materials, order ...
SCOTIA AIMS TO COVER FULL SPECTRUM IN HOME FURNISHINGS.
Feb 05, 2001; ... La Grange, Ga.-Scotia Design Group's design philosophy mirrors its business strategy. Both have grown "from the floor up." The company started as a jacquard woven rug supplier in 1997. Now every jacquard rug comes with coordinating pillows, a throw, tabletop items, furniture and ...
CHAIRMAN RE-ELECTED; ORIENTAL WEAVERS' RELAUNCHED COLLECTION IS FAR FROM THE SAME OLD YARN.
Feb 05, 2001; ... ATLANTA-Oriental Weavers of America combined high-tech fiber technology, careful design and color science to relaunch its Chairman Collection at the International Area Rug Market. Previously a woven heatset polypropylene construction, Chairman is now woven with a 12-color creel ...
U.S. OFFICIAL CALLS HEIMTEXTIL A MUST FOR GLOBAL PLAYERS.
Feb 05, 2001; ... FRANKFURT, Germany-"I've seen all kinds of shows -- terrific, mediocre, terrible -- but if a company wants to be in the international home textiles business, they must come to Heimtextil. If not as an exhibitor, then as a visitor," said Lawrence J. Brill, director of the market expansion ...
FURNITURE & HOME DECOR BRIEFS.
Feb 05, 2001 ... November Shipments Increase 6 Percent Manufacturers' shipments of residential furniture in November 2000 rose 6 percent over November 1999, an increase attributable in part to a decline in backlogs, according to the monthly survey by BDO Seidman. Year-to-date 2000 shipments were ...
CRI TRANSITION IN FULL SWING.
Feb 05, 2001 ... DALTON, Ga.-After 20 years of Ron Van Gelderen's leadership as president, the Carpet & Rug Institute (CRI) has been taking great care to make its transition to a new president as smooth and seamless as possible. Werner Braun, the new president, had been working closely with Van Gelderen ...
WHITFIELD UNRETIRES TO HELP OTHERS SUCCEED.
Feb 05, 2001; ... CHATTANOOGA, Tenn.-Once a rug merchant, always a rug merchant. "When I retired from Shaw, I thought I'd spend time on the river in my boat and travel," said Don Whitfield. "But then I discovered I really wasn't ready to totally retire." Now running a consulting ...
KAS ADDS RUG LINE, DOUBLES SALES FORCE.
Feb 05, 2001; ... SOMERSET, N.J.-Kas Oriental Rugs is expanding its product line and internal operations for growth this year. Founded 20 years ago by Rao Yarlaggada, owner and president, the importer had an excellent market last month in Atlanta and has signed for a permanent showroom at the ...
STUDY: TABLETOP HAS PLENTY OF ROOM FOR GROWTH.
Feb 05, 2001; ... NEW YORK-Tabletop is far from being staid and mature, according to a recent survey done by Unity Marketing. It is a dynamic category to which consumers are willing to devote their discretionary dollars -- provided manufacturers look beyond the bride, and retailers change the way they ...
THE IMPORT OF IMPORTERS; FIRMS THAT SOURCE FOREIGN PRODUCTS DIRECTLY ARE STILL A BIG VALUE TO RETAILERS.
Feb 05, 2001; ... NEW YORK-Encouraged by the strength of their private-label programs, yet reluctant in certain incidences to incur the cost of doing business themselves, many retailers continue to rely on direct importers to fuel tabletop growth. "We do a lot of importing directly for seasonal ...
NEW DEPTH EXPLORED IN THE WALL DECOR.
Feb 05, 2001; ... NEW YORK-Some really off-the-wall introductions were made at recent trade shows in the art and wall decor categories. To add drama, whimsy and function to their art, suppliers have given greater depth to their products and enhanced them with technology and new combinations of ...
'TWAS THE SEASON FOR HOLIDAY SPLURGES HOLIDAY-THEMED DINNERWARE TOPS SALES UPSTAIRS IN SECOND HALF OF 2000.
Feb 05, 2001; ... NEW YORK-Consumers imbued with the holiday spirit hit the upstairs tabletop department during the second half of last year. According to NPD HomeTrak's list of the top-selling fine dinnerware patterns sold at department and specialty stores during that time, the usual favorites (such as ...
LENOX CRYSTAL MAKES HISTORY AT INAUGURATION.
Feb 05, 2001 ... Louisville, Ky.-When President George W. Bush and Vice President Dick Cheney were sworn into office last month, Lenox Crystal was part of the official Inauguration Day ceremonies. Lenox produced engraved crystal bowls that were the official gifts from Congress to Bush and ...
DECEMBER SIMMER; COOKWARE SHIPMENTS WERE WAY DOWN FOR THE MONTH, BUT RETAIL SALES WERE UP.
Feb 05, 2001; ... NEW YORK-The blaze of cookware and bakeware introductions during the International Housewares Show last month belied a significant slowdown of product shipments in December. While cookware and bakeware shipments rose 3 percent during 2000 to $1.04 billion, shipments declined in ...
ROMANCE COMES TO THE TABLE WITH VALENTINE'S DAY OFFERINGS.
Feb 05, 2001; ... NEW YORK-As Valentine's Day approaches, hearts and the like show up on many retailer's shelves, even in tabletop. The holiday creates yet another opportunity for manufacturers to highlight their more romantic merchandise, which can also be used for such year-round occasions as ...
A CHANCE TO NETWORK AT NEW YORK GIFT FAIR.
Feb 05, 2001 ... New York-The fourth annual Network New York cocktail reception was held at The Lighthouse at the Chelsea Piers during the New York International Gift Fair here last month. The reception provided key ...
SUPER BOWL AD TACKLES NEW FOREMAN CUSTOMERS.
Feb 05, 2001; ... MOUNT PROSPECT, Ill.-Salton has brought its George Foreman grills from the informercial circuit to mainstream television commercials, beginning with a holiday spot at year's end and making a second, more colorful run during the Super Bowl last week. "George is a fairly ...
HOUSEWARES BRIEF.
Feb 05, 2001 ... Posey Resigns From Hamilton Beach Richard Posey has resigned from his position as president and chief executive officer of Hamilton Beach/Proctor-Silex to pursue other interests. He is replaced by Michael Morecroft. Morecroft came to Hamilton Beach in 1990 and has led ...
HOUSEWARE BRIEFS.
Feb 05, 2001 ... Fisher & Paykel Names National Sales Manager Fisher & Paykel has named Laurence Mawhinney as its national sales manager, a newly created position reflecting the growth of the company's North American white-goods business. He was succeeded as Central regional manager by Richard ...
COLD FRONT DESCENDS UPON BUILDERS' SHOW.
Feb 05, 2001; ... ATLANTA-Refrigerators are being thrust into the spotlight as the International Builders' Show gets under way here Friday. Most shows displaying major appliances feature cooking products, and there will be no shortage here. But federal energy standards for home refrigeration will ...
AIR APPARENT.
Feb 05, 2001 ... For those looking for inspiration or just curious about the history and glamour of the airline industry, "Airline: Identity, Design and Culture" is just the ticket. The book by Keith ...
AN ELITE CIRCLE.
Feb 05, 2001; ... A who's who of the home furnishings industry turned out for the biannual International Furnishings and Design Association's Circle of Excellence Awards presentation at the Hudson Theater in the Millennium Hotel in Manhattan. The winners were: Warren Shoulberg, ...
MAKING KMART MATTER.
Feb 05, 2001; ... NEW YORK-Relevant and contemporary. Apart from the retailer's Martha Stewart franchise, these are terms not typically associated with Kmart. But that will soon change. That's the hope of Carl Johnson, president and chief executive officer of TBWA/Chiat/Day, the ...
COPY TALK.
Feb 05, 2001 ... A Casualty in Time-AOL Deal Today's Homeowner is being affected by the cuts and changes in the newly approved Time Warner-America Online merger. The magazine, which was acquired in Time Warner's Times Mirror deal last year, is being folded into This Old House magazine. In ...
MILLENNIUM CITED AS LIBBEY POSTS HIGHER NET FOR 2000.
Feb 05, 2001; ... TOLEDO, Ohio-Although faced with higher energy costs and the effects of a slowed economy, management at tableware maker Libbey Inc. said it was aiming for 6 percent sales growth in 2001. In reporting results last week for the fourth quarter and year-end period, the company said ...
LINENS 'N THINGS PROJECTS 20% HIKE IN 2001 SALES, LOOKS TO GROW PROFIT.
Feb 05, 2001; ... CLIFTON, N.J.-Although Linens 'n Things missed Wall Street's best guess on earnings per share for the fourth quarter by a penny, the specialty retailer posted robust sales gains for the year and expects similar results this year. The specialty retailer said sales are targeted to ...
SALTON TO TAKE A PASS ON GOURMET PRODUCTS SHOW.
Feb 05, 2001; ... MOUNT PROSPECT, Ill.-Salton has dropped out of the 2001 Gourmet Products Show. The company, which had previously leased 5,000 square feet of exhibition space, was not available for comment. According to Susan Corwin, Gourmet Show manager and vice president of George ...
HOME GROWN.
Feb 05, 2001 ... How is the changing shape of the house Americans live in impacting the home furnishings ...
SUNBEAM CHAPTER 11: LIFE AFTER DEBT?
Feb 12, 2001; ... BOCA RATON, Fla.-Sunbeam Corp.'s Chapter 11 filing is being seen as a way for the chronically troubled company to dump its debt and return to a profitable operating basis within six to nine months. The company filed voluntary petitions last week for itself and its domestic ...
RETAILING'S ALTERED STATES.
Feb 12, 2001 ... Store closings across the country in the first 45 days of the new year are both destoring America and ...
LECHTERS BITES BULLET TO CLOSE 166 STORES.
Feb 12, 2001; ... HARRISON, N.J.-In a dramatic attempt to return the company to profitability, Lechters, based here, is closing 166 stores, including all of its Cost Less Home Stores, representing about one-third of the company's 490 retail units. Plans are to eliminate 128 Lechters units, 27 Famous Brands ...
DEVELOPERS TO ANTE UP PLANS FOR LAS VEGAS FURNITURE MARKET.
Feb 12, 2001; ... LAS VEGAS-Although no furniture manufacturer has publicly announced its support, the proposed International Furniture Trade Center being developed here by a private investor group is inching forward. The planned 5 million-square-foot exhibition complex has been the talk of the ...
SETTING THE TONE.
Feb 12, 2001; ... It wasn't exactly breakfast, but Tiffany's hosted a starred event to salute the Juilliard School. This was the prelude to "My Favorite Things," a concert slated for April 24 that is part of the school's ...
SIMON REPORTS HIGHER REVENUE, OCCUPANCY RATES.
Feb 12, 2001; ... INDIANAPOLIS-Despite a sluggish retail environment, the Simon Property Group posted higher total revenue for 2000 than in the prior year while also reporting higher occupancy rates. For the year, total revenue jumped 6.9 percent to $2.02 billion from $1.89 billion in 1999. For ...