Archive for February 3rd, 2006
— Furniture Today, 2/2/2006 8:24:00 AM
Overall retail sales growth forecast at 4.7%
NEW YORK – Home furnishings and furniture retail sales are expected to be less robust this year than they were last year, according to the National Retail Federation’s chief economist.
Rosalind Wells did not offer a specific projection for the category, or an estimate for the full year 2005. But she said the 2006 pace would be slower than the monthly gain in December 2005, when the category posted a 5.6% increase over the same month of 2004.
With energy costs higher, housing sales softening and interest rates rising, the home furnishings and building supply sectors will be affected the most, she said.
Wells, who presented her 2006 outlook at the NRF’s annual convention here, projected overall U.S. retail sales growth for this year at 4.7%, compared with the 2005 gain of 6.1%.
She predicts increases of 5.6% in the first half, 4.7% in the third quarter and 4% in the fourth quarter.
Yet to be completely factored into the statistics, she added, is the effect of lower prices because of the surge in offshore sourcing.
Looking at U.S. gross domestic product, Wells projects a 3.3% increase this year, a slight slowdown from last year’s 3.5% gain.
“It’s not a bad outlook at all — nothing dire and not a recession,” she said.
Consumers will need to look for new sources of spending power other than cashing out their real estate gains, she said — housing prices “are topping out in some markets” and the pace of refinancings is waning.
In retailing, the luxury market is expected to perform best, while mid-tier department stores will have the most difficulty.
February 3rd, 2006
By: Furniture World Magazine
Latest Furniture Industry News
Stanley Furniture Company, Inc. reported record sales and earnings for 2005. Sales were at the low end and earnings exceeded management’s previous guidance range provided in mid October 2005.
Net sales of $333.6 million rose 9.1% over the prior year. Earnings per share grew 11.3% to $1.77 in 2005 from $1.59 in 2004.
Fourth quarter sales of $81.4 million decreased 2.2% from record fourth quarter sales in 2004. However, earnings per share grew 7.0% to $.46 compared to $.43 in the fourth quarter of 2004.
Operating income for 2005 improved to $37.4 million, or 11.2% of net sales, from $34.7 million, or 11.3% of net sales, for the prior year. The favorable impact of higher sales in 2005 was mitigated by higher raw material costs, compensation costs, energy costs, freight costs, increased warehouse expense and tariffs imposed on wooden bedroom furniture imported from China.
Strong cash flow from operations for 2005 was used to purchase $23.0 million of the Company’s common stock (including $13.0 million in the fourth quarter), pay cash dividends of $3.1 million, repay $4.3 million of debt, and increase cash on hand $4.9 million. Working capital, excluding cash and current maturities of long-term debt, decreased $3.7 million in 2005 primarily due to lower inventories. Approximately $17.2 million is currently authorized by the Company’s Board of Directors to repurchase shares of the Company’s common stock. At December 31, 2005, the Company was in anet cash position with total debt outstanding of $$12.6 million.
Business Outlook “We are pleased to report a record year of sales and earnings”, commented Jeffrey R. Scheffer, President and Chief Executive Officer. “While industry sales trends were positive in 2005, we believe the consistent execution of our strategy has resulted in market share gains that drove most of our sales growth. Fourth quarter sales declined 2.2% ending a string of fourteen consecutive quarters of year over year sales growth, punctuating an industry slow down that began during the third quarter. As a result, we enter 2006 cautiously, mindful of an uncertain demand environment yet confident in our ability to continue to gain market share and anticipate another good year.”
Management offers the following guidance for total year 2006.
• Net sales are expected to be in the range of $340 million to $350 million, an increase of 2% to 5% over the prior year.
• Operating income is expected to be in the range of $37.3 million to $38.3 million.
• The Company’s effective tax rate is expected to be in the range of 35.0% to 35.3% in 2006.
• Earnings per share are expected to be in the range of $1.84 to $1.90 compared to $1.77 for 2005.
Management offers the following guidance for the quarter ending April 1, 2006.
• Net sales are expected to be in the range of $81 million to $84 million, ranging from a decrease of 2% to an increase of 1% over the first quarter of 2005.
• Operating income is expected to be in the range of $8.7 million to $9.3 million.
• Earnings per share are expected to be in the range of $.43 to $.46 compared to $.43 in the year-ago quarter.
Other Information All earnings per share amounts are on a diluted basis and adjusted for the two-for-one stock split distributed on June 6, 2005.
Established in 1924, Stanley Furniture Company, Inc. is a leading manufacturer of wood furniture targeted at the upper-medium price range of the residential market. Manufacturing facilities are located in Stanleytown and Martinsville, Va. and Robbinsville and Lexington, N.C. Its common stock is traded on the Nasdaq stock market under the symbol STLY.
February 3rd, 2006
BY.KOMPAS,
PASAR untuk sofa bisa dikatakan tak pernah ada habisnya. Walaupun tubuh orang Indonesia tak sebesar orang Amerika, misalnya, namun toh ada saja peminat sofa berukuran besar. Alasannya, sofa berukuran besar itu nyaman diduduki karena sebagian orang suka duduk di sofa sambil bersila atau mengangkat kaki.
Sebaliknya, untuk menyesuaikan dengan ruangan di rumah mungil sekalipun, seperti kata Hardjono, pemimpin Softy, pembuat sofa berlapis bahan tenun Pekalongan, banyak pula orang yang memesan sofa dengan ukuran khusus sesuai dengan luas ruangannya.
Erwin Firmansyah, desainer interior dari Vivere yang memproduksi mebel minimalis juga mengatakan, perusahaan tersebut membuat dua macam ukuran sofa. Artinya, untuk satu jenis desain sofa, misalnya, dibuat dua ukuran, satu ukuran besar sesuai dengan standar internasional dan satu lagi diperkecil sesuai dengan bentuk tubuh umumnya orang Indonesia.
“Meskipun ukuran sofanya diperkecil, kami membuatnya tetap proporsional dan ergonomis agar bisa memenuhi kenyamanan dan keamanan orang yang duduk di atas kursi itu,” kata Erwin menambahkan.
Roland Adam, desainer interior, mengamati bahwa popularitas sofa juga membuat jenis mebel ini relatif menjadi salah satu mebel yang banyak diminati desainer interior untuk mengembangkannya. Walaupun bentuknya cenderung tetap kotak, warna, corak kain, dan kenyamanan sofa bisa dikatakan tak ada habisnya.
“Sampai sekitar tahun 1980-an kita masih bisa lihat banyak rumah yang menggunakan sofa terbuat dari rotan. Kalau di dalam rumah, sofa rotan itu diberi pengempuk berpelapis kain, tetapi untuk luar ruang ada yang memakai pelapis kulit atau kain kanvas untuk di beranda,” tutur Roland.
Selain rotan, pada masa-masa itu pun banyak dipakai sofa dari kayu dengan ukiran di bagian kepala dan sandaran tangannya. Sebagian sofa masa ini pun bagian kakinya dibentuk sedemikian rupa hingga tampak lebih luwes.
“Sofa model ini bahan pelapisnya juga beragam, ada yang menggunakan kulit sampai yang memakai semacam kain beludru. Sebagian lagi merasa tak cukup hanya menghiasi sofanya dengan ukiran, maka masih ditambahkan lagi dengan sentuhan warna keemasan di sana-sini,” kata Roland lebih lanjut.
Sofa seperti itu termasuk salah satu desain yang populer, dan disukai sebagian orang dari kalangan atas sampai lapisan masyarakat bawah sekalipun. Bahkan sampai sekarang pun, dengan finishing dan bahan pelapis yang lebih beragam, desain sofa seperti itu masih ada penggemarnya.
KALAU sofa dengan ukiran seperti tersebut di atas mendapat pengaruh Eropa, sekitar tahun 1975-an desain sofa lain yang juga disukai orang adalah sofa gaya Amerika. Meski ukuran besarnya tak berbeda dengan sofa gaya Eropa, desain sofa gaya Amerika lebih sederhana daripada Eropa.
Selain pada desain bentuknya yang lebih sederhana-tidak banyak menggunakan ukiran- ukiran yang rumit-corak kain pelapisnya juga berbeda. Kalau pada sofa gaya Eropa biasanya digunakan corak kain bermotif, kain pelapis sofa Amerika lebih sederhana bahkan cenderung polos dengan warna netral seperti cokelat dengan berbagai gradasinya.
“Sekitar tahun 1990-an desain sofa yang banyak disukai orang sudah berubah lagi. Umumnya pasangan muda lebih memilih sofa bergaya modern yang bentuknya cenderung ramping dan tidak banyak pernak-perniknya,” kata Roland.
Untuk sofa modern, orang biasanya bermain dengan bahan dan rangkanya. Ada yang memilih menggunakan rangka kayu yang tampak alami, tetapi ada pula yang lebih menyukai rangka besi atau stainless steel. Bentuk sofa modern juga lebih beragam, tak hanya cenderung kotak, tetapi lebih luwes.
“Kain pelapis sofa juga mengenal tren. Mereka yang menyukai sofa gaya klasik biasanya suka pelapis bermotif garis, kotak, bunga, sampai polkadot. Tren kain pelapis itu banyak dipakai pada tahun 1980-an sampai awal 1990-an. Menuju tahun 2000, orang lebih banyak memilih kain pelapis sofa tanpa motif atau polos. Permainan aksen muncul lewat tekstur kainnya,” ujar Roland Adam.
Sementara Erwin melihat perkembangan sofa lebih mengarah kepada pemakaian bahan baku yang bisa membuat orang semakin nyaman duduk di sofa.
“Mungkin karena konsep kami adalah modern minimalis, jadi kain pelapisnya pun cenderung polos tanpa corak. Kalaupun ada coraknya, lebih merupakan sulur atau garis-garis yang tidak ramai. Kami bermain dengan bantal-bantal untuk memberi kesan tidak monoton pada sofa,” katanya.
SEMENTARA itu, pada sofa berlapis tenun Pekalongan, Hardjono melihat perubahan desain bentuknya relatif tak berarti. Kalaupun ada perubahan, hanya pada bagian sandaran tangannya. Kalau sekitar 10 tahun lalu orang menyukai sandaran tangan berbentuk agak bulat, belakangan ini orang lebih banyak memilih sandaran tangan kotak saja, tanpa lengkungan sama sekali.
“Perubahan lainnya, kalau dulu duduk sofa itu menyambung seluruhnya, belakangan ini banyak permintaan untuk membuatnya menjadi dua bagian. Bagian bawah yang keras, lalu bagian atasnya diberi busa yang lebih empuk,” ujar Hardjono.
Dari pengamatannya, pernah pada suatu masa orang menyukai sofa yang menggunakan lapisan kain tenun dipadankan, misalnya, bagian bawah menggunakan kain tanpa corak, maka bagian atasnya bercorak kotak-kotak. Namun perpaduan itu, menurut Hardjono, tak bertahan lama. Belakangan ini orang kembali menyukai sofa dengan satu corak kain satu macam saja.
Baik Hardjono maupun Erwin mengatakan perubahan lain pada sofa adalah pada sandarannya. Kalau dulu sandaran punggung dibuat “mati” atau menyatu dengan keseluruhan sofa, belakangan ini sandarannya dibuat “lepas” dari sofa hingga menyerupai bantal biasa yang berukuran besar.
Soal warna, kata Hardjono, sekitar dua tahun lalu orang masih suka memakai kain tenun berwarna cerah, seperti merah, hijau, atau biru menyala, kini selera pasar tampaknya kembali ke motif sederhana (polos dan garis) dengan warna lebih netral seperti cokelat susu, biru muda, atau krem.
“Warna terang masih disukai orang untuk memberi efek dekoratif pada ruangan, seperti kain tenun untuk korden atau bantal-bantal,” kata Hardjono, yang membuat kain tenun untuk sofa lebih tebal daripada yang digunakan untuk membuat korden.
Hardjono yang kini mempekerjakan sekitar 50 orang di ruang kerja (workshop)-nya di kawasan Serpong, Tangerang, itu juga membuat slip cover atau kain penutup sofa. Kain penutup sofa ini, menurut dia, banyak diminati para ibu yang mempunyai anak balita (bawah umur lima tahun).
“Slip cover itu bisa dicuci, jadi mereka tak perlu repot-repot harus sering ganti kain pelapis sofanya. Kalau slip cover- nya sudah jelek, mereka tinggal membeli slip cover yang lain lagi. Ini lebih praktis,” kata Hardjono, yang menjual slip cover untuk sofa dua dudukan seharga Rp 400.000-Rp 450.000 itu. (CP)
February 3rd, 2006
By: Furniture World Magazine
AMERICAN LEATHER, design leader and manufacturer of custom upholstered premium leather furniture, announced the promotion of three Vice Presidents this week, a move which strengthens the executive leadership of the company.
Matthew Hayward has been named Vice President of Marketing. In this capacity, Hayward will be responsible for managing the company’s marketing team as well as implementing the strategic direction of all marketing initiatives for American Leather and au (American Upholstery), the fabric division Hayward helped found in 2004. He will continue to be based in Dallas at the American Leather headquarters, and reports to Cary Benson, president and Chief Marketing Officer.
Hayward, who has worked in various sales and marketing capacities for American Leather for 11 years, was named National Sales Manager of the new au division in the spring of 2004. In this role, he has been responsible for establishing new accounts and managing the national sales of this new division for American Leather. Hayward will continue to support this function in his new position as well.
“Matthew has been with American Leather for more than a decade, and therefore brings tremendous internal experience and a continued enthusiasm for the growth of the company,” said Benson. “From the earliest days of the company to the established consumer brand that we are today, Matthew has been instrumental is helping American Leather and au achieve their marketing and sales objectives. He has earned the opportunity to take the national marketing program to a new level, both with consumers and with our retail customers.”
Martin Gibson has been promoted to Vice President of Operations, following his previous role as Operations Manager. Having joined the company in October 2004, Gibson brought more than 12 years experience in the semi-conductor industry, which included the startup and initial staffing of two production facilities, and operations management experience in Europe and California. He was involved in the production of highly customized equipment used to manufacture semi-conductor chips for such companies as Intel and AMD.
In his position for American Leather, Gibson is responsible for overseeing all factory operations and maintaining quality standards throughout the manufacturing process. He reports to CEO Bob Duncan. Under Gibson’s leadership, American Leather experienced record shipment levels in 2005 while achieving the highest efficiencies and quality levels in the company’s history, according to Duncan.
“Martin has brought tremendous operational efficiency to the manufacturing operations of American Leather,” said Duncan. “His strong background in mass customization and range of manufacturing experience has allowed him to introduce new systems and processes that have helped us improve our production capacity and also continue to improve the quality of product that we provide to our customers worldwide.”
Kelly Montgomery has been named Vice President of Finance and Administration for the company. As former Controller, Montgomery has been with American Leather for more than seven years. Montgomery will continue to have responsibility for accounting including accounts receivable and credit, accounts payable, financial reporting and oversight of human resources and benefits. He also manages the company’s banking relationships, insurance, tax filings and treasury functions. He reports to Sanjay Chandra, President and Chief Financial Officer.
Prior to American Leather, Montgomery was with Price Waterhouse in public accounting and in the building materials industry with Standard Gypsum, a subsidiary of Temple-Inland and Caraustar. He holds a BBA in Finance and a Masters in Professional Accountancy both from the University of Texas at Austin and has been a CPA since 1984. Montgomery represents the company as a director for the American Home Furnishings Alliance’s finance division.
“Our company has enjoyed steady growth each year through the use of prudent financial management and successful utilization of our balance sheet,” said Chandra. “Kelly has been instrumental in managing the financial and administrative parts of the company through an extended period of tremendous growth, and will continue to play a critical role in the future growth of both American Leather and au.”
Founded in 1990, AMERICAN LEATHER is a manufacturer of custom upholstered premium leather furniture, and is recognized as one of the leaders of high quality, custom designed and innovative leather furniture. Its fabric division, au (American Upholstery) was founded in 2003 with the purpose of tapping into the enormous fabric upholstery furniture market, while focusing on the durability and longevity of producing made-to-order furniture that meets the lifestyle demands of today’s busy consumer. The company manufactures and ships its line of contemporary, transitional and traditional leather, Ultrasuede® and fabric upholstery worldwide. AMERICAN LEATHER and au showcase its line in Dallas and at the International Home Furnishings Market in High Point, NC
February 3rd, 2006
By: Furniture World Magazine
IKEA, a leading home furnishings retailer, today announced the appointment of Mark McCaslin as store manager for the IKEA store opening this summer in Canton, MI. The store will be the Swedish company’s first in Michigan and 28th in the U.S. (The closest IKEA stores are in the Chicago area and in greater Toronto.)
“We are very excited about opening a store in Canton, where the location will attract customers from throughout the state and region,” noted IKEA North America president Pernille Lopez. “Mark McCaslin’s experience as a store manager, and Midwestern roots, have prepared him for managing our store in the Detroit area, where there are customers who already are IKEA fans as well as consumers who may not know us yet.”
“IKEA recognizes the strong customer base that exists for us in Michigan, so I am very pleased about the opportunity to provide these customers with a store right here in Canton,” explained McCaslin. “I also look forward to introducing new customers to our unique family-friendly shopping experience and wide selection of stylish, functional and affordable home furnishings.”
McCaslin, who has relocated recently to the Detroit area from Long Island, New York, has served in several key retail positions prior to becoming store manager of IKEA Canton. A native of Illinois, he started his IKEA career in Summer 1998 as the logistics manager of IKEA Schaumburg (IL), that opened in November of that year, and in 2001 became assistant store manager of sales at that store.
The following year, McCaslin was named store manager of IKEA Hicksville (NY), on New York’s Long Island. Previous to joining IKEA, McCaslin began his post-college career for 10 years at a Chicago branch of a national retail chain, ultimately becoming store manager.
Under construction on 21 acres at Ford and Haggerty Roads off I-275 in Canton, MI, the 311,000 square-foot IKEA store will create 500 construction jobs and welcome 400 coworkers into the IKEA family when IKEA Canton opens. Besides 10,000 exclusively designed items, IKEA Canton will present 50 different room settings, three model homes, a supervised children’s play area, and a 300-seat restaurant serving Swedish specialties such as meatballs with lingonberries and salmon plates, as well as American dishes. Other family-friendly features will include a Children’s IKEA area in the showroom, baby care rooms, preferred parking and play areas throughout the store.
IKEA has more than 225 stores in 33 countries, including 26 in the U.S., where the company aims to open five new stores a year. Other U.S. stores being planned will be located in: Brooklyn, NY; Draper, UT; Dublin, CA; Portland, OR; Round Rock, TX; Somerville, MA; and West Sacramento, CA. Since its 1943 founding in Sweden, IKEA has offered a wide range of home furnishings and accessories of good design and function, at low prices so the majority of the people can afford them. IKEA has been ranked in FORTUNE’s annual “100 Best Companies to Work For” List (two years in a row), Working Mother magazine’s annual list of “100 Best Companies for Working Mothers” (three years in a row) and Training magazine’s annual “Top 100″ ranking of companies that excel at human capital development (three years in a row). IKEA is recognized as a socially responsible company, and continuously supports initiatives that benefit causes such as children and the environment. To visit the IKEA Web site, please go to http://www.IKEA-usa.com. For information about working at IKEA, please
visit http://JobsAt.IKEA-usa.com.
February 3rd, 2006