Archive for July 4th, 2007
VICTORIA THOMSON
COMET owner Kesa Electricals is considering putting its French furniture business up for sale after a number of firms signalled an interest in bidding for the company.
Shares in Kesa jumped 7.25 per cent as the group confirmed it was in “very early stage” evaluations after receiving a “number of indications of interest” to acquire the BUT chain.
But it added that there was no guarantee of a sale.
The confirmation came after French newspaper Les Echos reported that Kesa, which also owns the electricals retailer Darty in France, had appointed investment bank Lazard to examine buyout proposals from private equity groups.
The proposals are understood to value the BUT chain in the range of 500 million (£337m) and 800m.
Kesa owns 101 BUT stores across France, with another 100 sites operated under franchise.
BUT specialises in home furnishings as well as electricals. The group has seen sales slip over the last few years amid increased competition from retailers such as IKEA.
Nick Bubb, retail analyst at Pali International, said the sale of BUT made sense. “BUT has never sat easily within the group,” he said. “Performance has been poor in recent years… though new ranging and store design has resulted in some recovery recently and that may have got buyers interested again.
“We don’t think BUT is a quality business, but it does have £200m of freehold property.”
Evolution Securities analyst Freddie George added that if BUT was sold there would be a strong logic to break up the rest of the company. He said: “Apart from contributing 25 per cent of group sales, it adds little in the way of synergies to the business, needs more capital to buy out the franchisees and is a management distraction.”
BUT reported a 5.6 per cent rise in profits to £36.1m in the year to 31 January, as revenues grew 3.1 per cent to £595.7m out of £180.9m group retail profits, an increase of 9.7 per cent.
July 4th, 2007
KARACHI,Asia Pulse - The export of furniture increased by 0.16 per cent to US$10.029 million in the first eleven months of outgoing fiscal 2006-07 against $10.013 million recorded during the same period of last fiscal year.
According to monthly report of Federal Bureau of Statistic (FBS), in May 2007 the exports of furniture witnessed a rise of 69.27 per cent to $1.220 million compared with $0.939 million in April 2007 and $0.741 million in May 2006.
(PPI)
July 4th, 2007
DENVER–(BUSINESS WIRE)–Furniture Row Racing, #78 in the NASCAR NEXTEL Cup Series, has announced plans to seek additional sponsorship.
Furniture Row Companies, based out of Denver, Colorado, owns and exclusively sponsors Furniture Row Racing. The organization currently operates a full-time, stand-alone Cup team with driver and motor sport personality Kenny Wallace behind the wheel.
Furniture Row Racing is actively seeking sponsorship to fund the #78 team with a new sponsor. The Furniture Row Racing sponsorship will be used to form a second team.
Furniture Row Racing is confident that a second team will provide the additional resources required to continue to grow and develop a competitive program. The benefits of running a second team, even in a part-time capacity, are deemed exceptionally valuable by the organization.
Due to Wallace’s widespread popularity, a new sponsor could garner valuable brand exposure both on and off the track.
The Furniture Row® Companies are one of the largest family-owned specialty home furnishings and bedding retailers in the country. The Companies are comprised of five specialty store brands including: Oak Express®, Sofa Mart®, Bedroom Expressions®, Denver Mattress Company® and Furniture Row Outlet®. Furniture Row® operates over 330 stores in 31 states. More information and locations of stores across the U.S. may be found at www.FurnitureRow.com. Additional information on the race team and driver Kenny Wallace may be found at www.FurnitureRowRacing.com.
Contact:
Furniture Row Racing
Wendy Manning, 303-293-2437
PR Manager Furniture Row
wendy.manning@furniturerow.com
July 4th, 2007
Furniture Brands International Inc. said in a regulatory filing Tuesday that it entered into a commitment letter June 22 for a proposed senior revolving credit facility for $600 million.
Furniture Brands entered the agreement with J.P. Morgan Securities Inc. and JPMorgan Chase Bank NA., according to a Securities and Exchange Commission filing.
The firm was granted a waiver June 29 to gain relief from being out of compliance with two other financial covenants, according to a SEC filing.
The proceeds of the proposed credit facility would help repay notes.
St. Louis-based Furniture Brands International Inc. (NYSE: FBN - News) manufactures furniture under the Thomasville, Henredon, Drexel Heritage, Maitland-Smith, Broyhill and Lane brands.
Published July 3, 2007 by the St. Louis Business Journal
July 4th, 2007
By Heather Summerville, Staff Writer
DURANT - Sleeping Beauty takes a break from moving into her apartment, and when she returned her furniture was being hauled away.
On Saturday, at 5:45 p.m., Ptl. Bryan R. Moore was dispatched to North Third Avenue to investigate a theft.
According to Moore’s report, the new resident of an apartment had been moving in that day, before stopping to take a nap at about 4:45 p.m.
After sleeping for about an hour, the woman returned to the front yard. According to the report, she told officer Moore that she saw a man attempting to load a chest of drawers which belonged to her. She then confronted the man and he stated that he thought that the items were being thrown away since they were left near the curb.
She also told Moore that she had seen a black and white dodge pickup truck driving away with her green antique dresser.
According to the report, the woman told Moore that she had left the items on the lawn of the apartment complex in route to taking the items to her upstairs apartment.
In other Durant Police Department news, Ptl. Rocky McDaniel spoke to two young people who were spotted dropping rocks from the overpass.
According to the report, Ronald Gurnick stated that he was driving under the overpass when a rock struck the top of his 2001 Dodge van. He observed two kids running from the top of the overpass and followed them to a home on Texas Street.
McDaniel located one of the kids at the residence. When asked about the incident, the child stated he knew nothing about it. There was a red and white cap laying next to the front door, which Gurnick had said one of the kids was wearing. When McDaniel asked the owner of the home about the cap, he was told that one of the kids was wearing the hat, and the other kid had just left.
When McDaniel was preparing to leave, the other child returned with his father. The man had heard that McDaniel was looking for his child and wanted to bring him back to speak with the officer. The boy stated he did not throw the rock; it was his cousin. He said that they were on top of the tracks when the other boy kicked the rock off. The boy denied throwing a rock, saying that all he had thrown was a fire cracker.
According to the report, McDaniel then went back to the first boy to confirm this story. The boy said that they were at the tracks but he did not do or know anything.
McDaniel talked to the boys and asked them not to return to the railroad tracks and told them not to throw rocks.
According to the report, Gurnick had no damage to the top of the van as of the time the report was filed.
July 4th, 2007
Comet owner Kesa Electricals said today it was considering putting its French furniture business up for sale after a number of firms signalled an interest in bidding for the company.
Shares in Kesa jumped more than 6% as the group confirmed it was in “very early stage” evaluations after receiving a “number of indications of interest” to acquire the BUT chain.
But it added that there was no guarantee of a sale.
The confirmation came after French newspaper Les Echos reported that Kesa, which also owns the electricals retailer Darty in France, had appointed investment bank Lazard to examine buy-out proposals from private equity groups.
The proposals are understood to value the BUT chain in the range of €500m and €800m.
July 4th, 2007
Gary Evans — Furniture Today,
PISCATAWAY, N.J. — Import warehousing and distribution company BnT Design has launched a program that allows retailers to pick and choose from among 200 products for mixed container shipments from Asia.
BnT says the program, Soho Concept, allows smaller independent retailers to compete with heavy hitters who buy containers direct.
Dealers can select from an array of contemporary upholstery, dining and occasional furniture in mixed containers. Another option is to order in smaller quantities from the company’s stocking warehouses in New Jersey, Toronto and a soon-to-be-opened facility in southern California, according to Gary Carmel, vice president of sales and marketing for the United States.
Carmel said the company consolidates containers of product in China, where 95% is manufactured. It’s 30% to 40% cheaper to buy via mixed container than in smaller amounts from BnT’s North American warehouses, he said.
“That’s the real secret of this,” he said.
BnT Design also provides sales aids and in-store gallery assistance, and has hired Eric E. Kutuck, educated and trained in design in Milan, Italy, as assistant marketing manager. He reports to Carmel, who said merchants can display a selection of BnT’s best sellers in about 800 square feet or more.
The product line includes sofas that retail for $1,800 to $2,000 and sectionals from $2,200 to $2,400, all fully-assembled except for screw-on legs. “It’s a lot of sofa for the money,” Carmel said. One best-seller, called The Boss, includes seating that extends into a chaise or a bed and backs that ratchet into several positions.
To simplify pricing, Carmel said the company quotes in factory-to-the-store wholesale pricing to reduce merchants’ uncertainty over what it really costs to buy offshore.
BnT Design also sells occasional and dining tables, as well as occasional chairs, bar/counter chairs and dining chairs. Retailers taking container shipments can chose from about 75 fabric options, Carmel said, while warehoused upholstery for smaller orders is limited in the number of covers.
The company will show at the Las Vegas Market next month in space B-755 of the World Market Center, and also has space at markets in Istanbul, Toronto and High Point.
July 4th, 2007
By RACHEL HANCE-Extension Agent for Family and Consumer Science
For many of us, gearing up for the summer holidays means pulling out those old lawn chairs and other patio furniture. To restore outdoor furniture to its former luster, follow these simple steps.
Many people forget about those patio umbrellas and hammocks left hidden all winter under other summer memories, but these remnants of summers past are often the easiest to clean.
To start, brush off the excess dirt. Then wash the umbrellas or hammocks in a mild soap and water solution. Once the items have been properly washed, simply leave them out to dry.
You can clean patio or porch awnings on their frames, or remove them if it’s more convenient.
Whether on the frame, or on a flat surface, the first step is to again brush away any excess dirt. The next step is to wet the surface with a garden hose. Once the fabric has been sprayed down, scrub it with a detergent or soap suds using a soft-bristled brush. To remove stubborn stains on your vinyl awnings, try using a car vinyl cleaner or some similar commercial product.
Once your awnings have been completely cleaned, rinse them to remove all of the cleaning product and allow to dry. If you remove awnings from their original frames, be sure to put them back on their frames before they completely dry. This will help maintain their shape.
When dealing with outdoor furniture cushions, be sure to check each manufacture’s instructions.
You can thoroughly clean most synthetic cushions with a solution containing one cup liquid chlorine bleach and one cup granular laundry detergent, added to about two gallons of warm water. Apply the solution to the cushions with a synthetic sponge. If you are dealing with polyester fabrics, use a plastic scrub brush to apply the solution. Stubborn stains caused by suntan lotion can be removed with the use of any cleaner containing pine oil.
When cleaning patio furniture, be sure to check each piece thoroughly for any loose bolts or screws. Attend to these problems before you put the furniture in use. This will protect you and your summer guests from the nasty scrapes and falls that can result.
If you find any rust spots on aluminum outdoor furniture, remove them by rubbing the surface with steel wool dipped in kerosene. Buff the metal surface until the rust is gone and the exterior is shiny once more.
You can remove rust spots and chips found on other types of metal patio furniture by rubbing it down with the steel wool and applying a coat of metal primer followed by two coats of touch up paint. When the paint has dried, you can apply a coat of auto paste wax to protect the new finish.
Following these simple instructions will restore your neglected patio furniture to look like new so you and your summer guests can enjoy it all season.
For more information, contact the Logan County Cooperative Extension Service.
Reviving outdoor furniture
For many of us, gearing up for the summer holidays means pulling out those old lawn chairs and other patio furniture. To restore outdoor furniture to its former luster, follow these simple steps.
July 4th, 2007
By: Furniture World Magazine
After launching the first eco-friendly home furnishings pavilion at a residential tradeshow at the Spring High Point Market, Merchandise Mart Properties, Inc. (MMPI) and the Sustainable Furniture Council are planning for an even greater presence at the upcoming Fall High Point Market, October 1-7, 2007.
“We were thrilled when MMPI approached us before the last High Point Market to build the first eco-friendly home furnishings pavilion for the residential market,” said Gerry Cooklin, founder and CEO of South Cone Trading Company and president of the Sustainable Furniture Council. “The reaction we have had since then has been overwhelming, and we are looking forward to expanding our efforts at the Fall High Point Market.”
“Since the Spring High Point Market, our membership has grown from 43 members to 85 members,” added Susan Inglis, president of From the Mountain and treasurer of the Sustainable Furniture Council. “We truly feel we are reaching the industry in a substantive way and are building awareness for a critical issue facing us all.”
The EcoStyle Pavilion will again be located on the first (top) floor of the Suites at Market Square in the heart of the High Point Market. The pavilion will provide a centralized location for companies to showcase their eco-friendly products to buyers seeking sustainable products. Participants in the pavilion will demonstrate that style and sustainability can and do co-exist and are becoming more readily available to consumers. The Sustainable Furniture Council will have a booth in the pavilion for people to come by and learn more about the organization’s mission and how they can get involved.
“Based on the positive response coming out of last market when we launched our eco-friendly pavilion, we have doubled the space for this upcoming Fall Market,” said Karen Olson, vice president of marketing for Merchandise Mart Properties. “We have no doubt we will fill this space.”
Participants in the pavilion will benefit from a comprehensive marketing program that includes direct mail pieces to more than 60,000 buyers, trade advertising in all key publications, a special section in market directories, telemarketing, and email marketing outreach.
MMPI and the Sustainable Furniture Council will again produce the EcoStyle Map to help buyers find green products at High Point Market. There will also be a party in the Century Courtyard in Market Square on Thursday, October 5 to celebrate the importance of green in the residential home furnishings industry.
Retailers, such as Dennis Rose of Eclectic Home, expressed their excitement about the first program to guide buyers in sourcing eco-friendly products in the home furnishings industry. “I think it is great that Merchandise Mart Properties and the High Point Market are on the forefront of introducing this new category and bringing to light the importance of sustainability in the home furnishings industry,” said Rose. “And, organizing vendors in one area certainly makes it easier for buyers.”
Buyers may shop the EcoStyle pavilion throughout the Fall High Point Market that runs, Monday, October 1 through Sunday, October 7.
“The market for sustainable products is growing quickly,” said Olson. “So, we see our EcoStyle initiative as having greater importance with each subsequent High Point Market. High Point is already the world’s home for home furnishings, and now we’re excited to establish High Point as the home for green home furnishings as well.”
Merchandise Mart Properties, Inc. (MMPI) is a trade show and property management firm, specializing in managing buildings devoted to wholesale showrooms and commercial office space. MMPI produces more than 300 trade shows, market events and conferences each year. MMPI manages The Merchandise Mart and 350 West Mart Center in Chicago; Market Square, the Suites at Market Square, Hamilton Market, Plaza Suites, Furniture Plaza and the National Furniture Mart in High Point, N.C.; the Architects & Designers Building and 7 W New York in New York; the Boston Design Center in Boston; the L.A. Mart in Los Angeles; and the Washington Design Center and Federal Center Southwest in Washington, D.C.
Vornado Realty Trust, owner of MMPI, based in New York City, is a fully integrated equity real estate investment trust. Vornado’s common shares are listed on the New York Stock Exchange and are traded under the symbol VNO.
The Sustainable Furniture Council is a non-profit industry association committed to promoting sustainable practices within the home furnishings industry and raising awareness among consumers and buyers. They believe that sustainable practices are those that are best for the environment, local economies and social equity. The first meeting of the Sustainable Furniture Council was held at the October 2005 High Point Market.
July 4th, 2007
By Ralph and Terry Kovel
The front porch is coming back. In the early 1900s, houses were built with a front porch so the family could sit and talk to the neighbors walking by.
Today, restored old houses and new houses in small community settings are again featuring a front porch. The porch needs special furniture, perhaps a swing or glider and other chairs, all made of weather-resistant material.
The Howell Manufacturing Co. of St. Charles, Ill., hired a German designer in the 1930s to create a modern line of outdoor furniture. The chairs were steel and had a spring to make a comfortable seat. There were chairs, loungers, gliders, rockers and tables. The gliders had upholstered seats and backs or fitted cushions. The other chairs were colored with a baked-on enamel.
About 10 years ago, several dealers began to go through old sections of big American cities buying the old metal furniture still being used on front porches. They offered the furniture at flea markets or stripped the old paint and powder-coated the pieces, giving them a permanent finish.
One very popular style, the pinwheel spring steel chair, is said to have originated in 19th century France. A pair of these chairs in very good condition auctioned recently for $575.
Q: I have been searching for someone to tell me who made my lamb cookie jar. The only mark on the 13-inch jar is “USA.” The lamb, sitting on his hindquarters, is beige with pink accents on his cheeks and ears. The lid is his hat, which is yellow and shaped like an upside-down flower. There’s a brown collar around his neck, and his hooves are black. The jar belonged to my mother, who bought it in North Carolina in the late 1950s or early ’60s. Can you help?
A: Your cookie jar was made by American Bisque Co. of Williamstown, W.Va. Unfortunately for collectors, the company marked most of its jars the way yours is marked. American Bisque was founded in 1919 to make doll heads. It appears to have started making cookie jars in the late 1930s. Until the factory closed in 1983, it made more cookie jars than any American company other than, perhaps, McCoy. Your jar, if in excellent condition, could sell for about $150.
Q: In a 1972 newspaper column, the Kovels wrote about a pressed-glass covered jar with a figure of Jumbo the Elephant on the cover’s finial. You said it was made about 1884. I’m looking for information about this glass.
A: Showman P.T. Barnum bought a huge elephant from the London Zoo in 1882 and brought it to the United States for his circus. He named the 61/2 -ton animal — the largest in captivity — Jumbo. Jumbo-mania swept the country, and souvenirs of all sorts were made. Canton Glass Co. and Brilliant Glass Works of Ohio and Central Glass Co. of West Virginia were among the companies that made Jumbo pressed-glass pieces. Compotes, condiment sets, covered jars and other glass dishes in a Jumbo pattern were made in the 1880s. Jumbo’s time with Barnum was short. He was hit by a train and killed in 1885. He was stuffed and displayed at Tufts University outside of Boston until 1975, when he was destroyed in a fire. Jumbo became a symbol of Barnum’s circus, and his name continues to this day to refer to something very large, from jumbo boxes of popcorn to jumbo jets.
Q: I have my grandmother’s 18-by-9-inch hammered silver tray. It is marked “Farber & Shlevin, Hand Wrought, 1755.”
A: Farber & Shlevin was a 20th century maker of aluminum, sometimes called “the poor man’s silver.” Your tray is aluminum and probably dates from the 1930s or ’40s. Pieces that look hand-hammered, like yours, are the most popular with collectors. Your tray would sell for about $30.
The Kovels answer as many questions as possible through the column. The volume of mail makes personal answers or appraisals impossible. Write to Kovels, The Commercial Appeal, King Features Syndicate, 300 W. 57th St., 15th Floor, New York, NY 10019.
July 4th, 2007
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