In Modern 200011-007 This simple-lined, modern bookcase is constructed of just twelve pieces of Forest Stewardship Council(FSC) Certified and environmentally friendly SmartWood. Sliding doors on the top and bottom of this piece provide for large areas of concealed storage, while the extra-wide open shelves between allow ample room for books, CDs, DVDs, and any other accessories. accessories. Read more »
In Modern 200010-009 Four pieces of Forect Stewardship Council (FSC) Certified and environmentally friendly SmartWood come together perfectly to form a simple and clean-lined desk. Flexible enough to be used as either a small dining table or office desk, this piece can be used in either a living area or office space. Or both, since this this Read more »
In Modern 200011-009 This simple-lined, modern bookcase is constructed of just twelve pieces of Forest Stewardship Council(FSC) Certified and environmentally friendly SmartWood. Sliding doors on the top and bottom of this piece provide for large areas of concealed storage, while the extra-wide open shelves between allow ample room for books, CDs, DVDs, and any other accessories. accessories. Read more »
Fortune Brands, Inc. (NYSE: FO – News) today announced that Tom Flocco, president and chief executive officer of its Beam Global Spirits & Wine business, will leave the company to pursue other interests. The Beam Global senior executive team will report to Bruce Carbonari, chairman and chief executive officer of Fortune Brands, on an interim basis while a search is conducted for a successor.
“Tom and the Beam Global team have accomplished a great deal over the past several years to build our spirits business into one of the top four premium spirits companies in the world,” Carbonari said. “Notably, our spirits business doubled in size and elevated its portfolio with the acquisition of the Allied Domecq brands in 2005, and has begun simplifying and building its routes to market in the U.S. and globally. We’re confident Beam Global is on the path to a future of promising opportunities and stronger performance, and we’re committed to taking our spirits business to the next level. We appreciate Tom’s many contributions to Beam Global’s success and wish him all the best in the future.”
“The people of Beam Global can be proud of the significant progress we’ve made together,” said Flocco. “Now that we’ve successfully unwound our former partnership with V&S Group and defined the business’s new routes to market, I’ll step aside after six years with Beam Global and pursue new challenges. I leave Beam Global with the utmost confidence in the company’s brands, people and future possibilities.”
Flocco joined Fortune Brands in 1999 as senior vice president of strategy and corporate development, moved to the spirits unit in 2003 as chief operating officer, and became president and CEO of the spirits business in January of 2004.
About Fortune Brands
Fortune Brands, Inc. is a leading consumer brands company with annual sales exceeding $8 billion. Its operating companies have premier brands and leading market positions in distilled spirits, home and hardware, and golf products. Beam Global Spirits & Wine, Inc. is the company’s premium spirits business. Major spirits brands include Jim Beam and Maker’s Mark bourbon, Sauza tequila, Canadian Club whisky, Courvoisier cognac, Cruzan rum, Teacher’s and Laphroaig Scotch, and DeKuyper cordials. Home and hardware brands include Moen faucets, Aristokraft, Omega, Diamond and Kitchen Craft cabinetry, Therma-Tru door systems, Simonton windows, Master Lock padlocks and Waterloo tool storage sold by units of Fortune Brands Home & Hardware LLC. Acushnet Company’s golf brands include Titleist, Cobra and FootJoy. Fortune Brands, headquartered in Deerfield, Illinois, is traded on the New York Stock Exchange under the ticker symbol FO and is included in the S&P 500 Index, the MSCI World Index and the Ocean Tomo 300™ Patent Index.
To receive company news releases by e-mail, please visit www.fortunebrands.com.
Tags: Acushnet Company, Alliance, Allied Domecq, Bruce, Bruce Carbonari, Canadian Club, Deerfield, door systems, Fortune Brands Inc., golf, golf products, Illinois, January, Jim Beam, Management Change, MSCI World, New York, New York Stock Exchange, products, Today, Tom Flocco, United States, Waterloo
On April 16, 2008, Hooker Furniture’s (NasdaqGS:HOFT – News) Board of Directors approved a $10 million increase in its authorization for repurchases of the Company’s common stock. On December 5, 2007, the Company announced that the Board had approved the repurchase of up to $10 million of the Company’s common stock. Through April 16, 2008, the Company had used $6.8 million of that authorization to purchase approximately 352,000 shares of the Company’s common stock, with $3.2 million remaining available for future purchases. As a result of the Board’s action, the Company has a total of $13.2 million available for future purchases.
Since February 2007, the Company’s Board has approved a total of $50 million (including yesterday’s increase) for repurchases of the Company’s common stock. The Company has utilized $36.8 million under these authorizations to repurchase nearly 1.8 million shares in open market transactions at an average price of $20.96 per share, excluding commissions.
Repurchases may be made from time to time in the open market, in privately negotiated transactions, or otherwise, at prices that the Company deems appropriate.
“The Board’s action demonstrates our continuing confidence in the Company’s strategy, growth opportunities and financial strength,” said Paul B. Toms, Jr., chairman and chief executive officer. “We believe that the purchase of Hooker’s shares is a wise use of the Company’s cash and enhances shareholder value.”
Ranked among the nation’s top 10 largest publicly traded furniture sources based on 2006 shipments to U.S. retailers, Hooker Furniture Corporation is an 84-year old residential wood, metal and upholstered furniture resource. Major wood furniture product categories include home entertainment, home office, accent, dining, bedroom and bath furniture under the Hooker Furniture brand and youth bedroom furniture sold under the Opus Designs brand. Hooker’s residential upholstered seating companies include Cherryville, N.C.-based Bradington-Young LLC, a specialist in upscale motion and stationary leather furniture, and Bedford, Va.-based Sam Moore Furniture LLC, a specialist in upscale occasional chairs with an emphasis on cover-to-frame customization. Please visit our websites at http://www.hookerfurniture.com, http://www.bradington-young.com, http://www.sammoore.com and http://www.opusdesigns.net.
The Hooker Furniture Corporation logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=4305
Statements made in this release, other than those concerning historical financial information, may be considered forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including but not limited to: general economic or business conditions, both domestically and internationally; price competition in the furniture industry; adverse political acts or developments in, or affecting, the international markets from which the Company imports products, including duties or tariffs imposed on products imported by the Company; changes in domestic and international monetary policies and fluctuations in foreign currency exchange rates affecting the price of the Company’s imported products; the cyclical nature of the furniture industry; risks associated with the cost of imported goods, including fluctuation in the prices of purchased finished goods and transportation and warehousing costs; supply, transportation and distribution disruptions, particularly those affecting imported products; risks associated with domestic manufacturing operations, including fluctuations in the prices of key raw materials, transportation and warehousing costs, domestic labor costs and environmental compliance and remediation costs; the Company’s ability to successfully implement its business plan to increase Sam Moore Furniture’s and Opus Design’s sales and improve their financial performance; achieving and managing growth and change, and the risks associated with acquisitions, restructurings, strategic alliances and international operations; higher than expected costs associated with product quality and safety, including regulatory compliance costs related to the sale of consumer products and costs related to defective products; risks associated with distribution through retailers, such as non-binding dealership arrangements; capital requirements and costs; competition from non-traditional outlets, such as catalogs, internet and home improvement centers; and changes in consumer preferences, including increased demand for lower quality, lower priced furniture due to declines in consumer confidence and/or discretionary income available for furniture purchases. Any forward looking statement that the Company makes speaks only as of the date of that statement, and the Company undertakes no obligation to update any forward-looking statements whether as a result of new information, future events, or otherwise.
Paul B. Toms Jr., Chairman, Chief Executive
Officer and President
E. Larry Ryder, Executive Vice President &
Chief Financial Officer
Kim D. Shaver, Vice President, Marketing Communications
Source: Hooker Furniture Corporation
Tags: Alliance, Bath, bath furniture, Bedroom Furniture, Bradington-Young, Cherry, Common Stock, Design, Ford, Furniture, Furniture Industry, furniture product, Hook, Hooker, Hooker Furniture, Hooker Furniture Corporation, imported product, Internet, Kim, Leather Furniture, Liga, metal, Paul B. Toms, Paul B. Toms Jr., Price, products, retail, room furniture, Sam Moore, youth bedroom furniture
It’s a modest goal Lauren Russell has set for herself and her family’s handcrafted furniture business.
“One day I want Russell and Mackenna to be to Severna Park what L.L. Bean is to Portland, (Maine),” she said. “It’s a great little town.”
From Lauren Russell and her husband Kevin’s Severna Park garage three years ago, the couple has grown a multimillion-dollar custom cottage-style furniture firm, Russell and Mackenna, with 30 dealers up and down the East Coast.
This summer the factory doubled its space by moving to a 6,000-square-foot production facility in Jessup, and the Russells opened their first showroom in Severna Park, which is already outselling the other licensed dealers.
The burgeoning furniture empire was born of vanity. Or at least one vanity. Read more »
Tags: Alliance, America, American Home Furnishings Alliance, Anna, Anne Arundel County, Bath, Design, East Coast, Ford, Furniture, furniture builder, Furniture Store, hardwood furniture, HIGH POINT, Hometown, Hook, Jacksonville, Larry Strassner, Las Vegas, Lauren Russell, Maine, new furniture, Portland, power tools, Price, products, Set, Severna Park, South, T. Rowe Price, trade group
THE growth of Malaysia’s wood-based exports may be stunted if measures to curtail the shortage of raw materials to the furniture and panel board (F&P) industries are not implemented, said Wood Resource Task Force (WRTF) chairman Peter Fitch.
â€œUnfortunately, the supply of rubberwood is in sharp decline. Unless new sources are found, this (decline) will be a threat to the furniture, medium-density fibreboard (MDF) and particle board industries,â€ he said.
WRTF is an alliance comprising companies within the F&P industries in Peninsular Malaysia. Its members include the Malaysian Furniture Industrial Council, the Malaysian MDF Manufacturers Association, Mieco Chipboard Bhd and Heveaboard Sdn Bhd.
Fitch, who is also managing director of Segamat Panel Boards Sdn Bhd, said that although the demand for wood products and furniture was increasing, F&P players were not able to keep pace due to the decline in raw material supply.
â€œAs a result, a few public-listed companies in the wood panel business have had to venture to Thailand and Indonesia due to insufficient supply of rubberwood locally. This industry is very capital intensive, especially for the wood panel business. Hence any investments abroad would benefit markets like Indonesia and Thailand,â€ he told StarBiz, adding that Malaysia was facing increased competition from low-cost countries which had good supply of raw materials. Read more »
Tags: Alliance, Area, bank, Furniture, Indonesia, Malaysia, Ministry of Plantation Industries and Commodities, palm oil, Peter, Plantation, Price, products, rubber, Set, state government, Table, Thailand, wood products
Cell phone chargers are scattered across the kitchen counter (one for each phone in the family). The computer sits on the dining room table, cords snaking around the ankles of anyone who sits down to work. No matter how tidy the bedroom, it still looks cluttered with electronics and personal papers overflowing the dresser.
Most home offices aren’t offices. We’ve carved out corners of space in dining rooms, dens and bedrooms, then filled the space with hand-me-down furniture — the cast-off desk from the kids’ room when their computer desk was installed, a spare kitchen chair, an old bureau-turned-filing cabinet — not to mention climbing over the treadmill to get to the computer workstation. Even if you’ve gone wireless, you still need a place to dock.
“Consumers are looking for home furnishings that make their lives easier,” says Jackie Hirschhaut, vice president of the American Home Furnishings Alliance. “Hidden storage, connectivity, charging stations … these are all important innovations to the category shoppers are embracing. As long as their are new electronics and technology devices, there will be a demand for multifunctional home office solutions.”
Function, storage and organization are key elements needed in home office furnishings — without looking like “office furniture.”
The same is true in modular home office furnishings, such as Techline. “When people come in, they have a certain look in mind, but functionality usually wins out. People want wood veneers, they want nice-looking pieces, and they want the printer that fits in a cabinet with a pull-out shelf, the desk where they can shut down the laptop and slide it under and out of the way. They don’t want any stuff showing when they’re not working,” says Brian Nichols of Techline Studio in Waterloo. Read more »
Tags: AED, Alliance, America, American Home Furnishings Alliance, Antique, Barrel, Broyhill, Cherry, Cocktail, Design, electronics, Furniture, Garden, HIGH POINT, Hook, Hooker, Jackie Hirschhaut, Lane, Office Furniture, office solution, Riverside, riverside furniture, Set, Table, Waterloo, Works
Furniture makers are jumping on the ‘green’ bandwagon
Furniture makers are jumping on the “green” bandwagon with new lines of eco-friendly home furnishings this summer and fall.
Pieces made from natural, renewable resources were the hottest trend at this spring’s High Point Market in North Carolina, according to the American Home Furnishings Alliance.
Among the offerings were funky recycled furniture from Groovystuff (indoor and outdoor items crafted from salvaged farm plows, rice barrels and antique wagon wheels); dye-light “Natural Grounds” wool rugs from Company C; and The Natural Light lighting collections, made of sustainable materials and packed in recyclable materials instead of packing “peanuts.” Read more »
Channel Logic, Sustainable Furniture Council And Las Vegas Market Center Create Living Green Pavillion
In a move to establish a significant presence of sustainability, Channel Logic and Sustainable Furniture Council join with World Market Center to create the inaugural Living Green Pavilion. As part of the Design and Living section at the Sands Convention Center, Living Green will showcase stylish and functional home furnishing designs available from several manufacturers. Channel Logic Inc, has positioned themselves as the leading sustainable products resource and representation firm, and is working hard to establish a viable presence in the marketplace for eco-conscious purchasers.
Channel Logic, Inc. is a sustainable furniture manufacturer representation firm, founded in March, 2007, by Tim Loveday and Mark Gruman. With the sustainability movement rapidly gaining momentum, Loveday and Gruman recognized an opportunity to advance the presence of sustainability within the furniture industry. Read more »
Tags: Alliance, Department of Commerce, Design, Furniture, Furniture Industry, furniture manufacturer, furniture manufacturers, furniture product, furniture products, Green, HIGH POINT, Internet, Las Vegas, Mary, Mike, North Carolina, of Commerce, products, Project, Reading, retail, Set, Table, U.S. Department of Commerce, World Magazine, World Market Center