FT Article part 1
Transcription
FT Article part 1
FURNITURE|TODAY FEB. 23$10 MARCH 1, 2015 VOL.39 NO.26 ® THE BUSINESS NEWSPAPER OF THE FURNITURE INDUSTRY What’s Inside F U R N I T U R E T O DAY.C O M Sales freeze up Snow cuts store traffic, makes deliveries difficult BY CLINT ENGEL American producers finding tailwinds New products in technology Port congestion and rising costs overseas are a problem for importers, and U.S. manufacturers like Legends Furniture, which makes the Avondale bedroom above, are poised to take advantage. Read our five-page report. p12 Clint Engel looks at several new products available to help retailers and others in the industry, ranging from electronic receipts to a new texting program. p25 Hooker Furniture lands Cynthia Rowley The fashion designer will introduce a line of case goods and upholstery from Hooker Furniture’s brands in October. p2 Bedding sales soar in December Maybe retailers were ordering a lot to get volume discounts, but for whatever reason, ISPA reported mattress shipment gains of 15.1% in units and 25.1% in dollars in December. p4 Investor group seeks ouster of Tempur Sealy CEO H Partners, which owns nearly 10% of Tempur Sealy’s stock, sent the company a letter suggesting, among other things, that it fire its CEO. The company’s board issued a response in support of the CEO. p36 Las Vegas change has markets clashing Dallas market officials have objected to Las Vegas Market organizers’ decision to change its winter 2016 dates, meaning the two events will overlap. p36 CONTENTS AMBIENTE REPORT _______ 34 BEDDING TODAY _________ 28 CLASSIFIEDS _____________ 37 INDUSTRY NUMBERS _____ 39 OPINION _________________ 33 OUTDOOR LIVING_______ 8, 10 PEOPLE TODAY___________ 30 STAFF LISTING____________ 33 BOSTON — Record snow and freezing temperatures this month are putting a crimp into sales for some Northeast retailers, not to mention the moods of prospective customers. “It’s snowing right now. I woke up to another blizzard,” Peggy Burns, co-owner of Acton, Mass.-based Circle Fur- niture said early last week. (She added a few words not suitable for publication.) “This is four or five major storms in three weeks. It’s frightening.” So far for the month, Circle’s stores and outlet have closed about five days due to the weather, including the important Sunday of Presidents Day weekend, she said. And when they have opened, sometimes it’s for naught as consumers choose to stay home. “I would be generous if I said we were down 50% for the month of February,” Burns said. She was prepared to go a little higher, but then joked, “I don’t want to be gloomy.” Near Circle’s Boston city location, road crews had yet to clear the parking metered p38 American Furniture booming BY BILL MCLOUGHLIN PONTOTOC, Miss. — American Furniture is adding seven new upholstery lines with plans to have 32 lines onstream by April 1, up from 18 as little as two years ago. Since the beginning of January the company has added 275 employees to keep pace with its rapid growth. The new lines are expected to add $50 million to $60 million in annualized volume and will give the company the ability to ship between 18,000 and 20,000 pieces a week, p38 A worker builds a recliner frame at American Furniture, which now produces between 18,000 and 20,000 pieces a week. Mattress Firm says it’s taking a break from acquisitions BY DAVID PERRY LOS ANGELES — Mattress Firm Holding Corp. CEO Steve Stagner said it’s time for the fast-growing chain to take an acquisition break. Addressing 1,400 employees of the Mattress Firm family of brands here at the company’s largest-ever BEDTalks, its annual leadership conference, Stagner said the company intends to hold off on acquisitions, a key to its rapid growth over the years, for a while. Stagner called that “a welcome surprise.” It was greeted by a loud round of applause. His address, which won him a standing ovation, kicked off BEDTalks, held at the JW Marriott here in downtown Los Angeles. The p36 RECHARGE 2015 IS HERE Contact your Simmons sales rep to learn more. ©2015 Simmons Bedding Company. All rights reserved.