Monday, August 20, 2012
THE BUSINESS AND FASHION NEWSPAPER OF THE HOME TEXTILES INDUSTRY
Dec Pillow Suppliers Seize the Day
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| Vol. 33, No. 18 | $8.00
WestPoint Comes off the Reef WestPoint’s plants in Pakistan and Bahrain are running at close to capacity and should be runNEW YORK — WestPoint Home reported its first ning at full capacity later in the year, said Dan positive EBIDA in years earlier this Ninivaggi, president of parent compamonth by narrowing its scope to key ny Icahn Enterprises, which acquired accounts and working to layer on the WestPoint assets out of bankruptcy fashion programs to the basic busiin 2005. ness it does with them. Norm Savaria — who became ceo Granted, the business is a far cry in June 2011, a leadership change that from the predecessor company’s heyalso brought aboard retail veteran Taran day – when as the publicly traded U.S. Chernin as executive vp and chief mermill WestPoint Stevens generated anchandising officer — told HTT: “It took NORM SAVARIA nual sales of nearly $1.7 billion in us three quarters, but we got there.” WestPoint 2003. But its second quarter EBIDA Icahn Enterprises president Dan Niniof $2 million for the period ended vaggi praised the sense of focus Savaria June 30 marked a sharp turn from the EBIDA loss brought to the operation. “When he came in, we of $3 million in the year-ago quarter. were going in 16 different directions.” Sales fell nearly 22% to $64 million. ExecuWestPoint streamlined operations with an emtives said the company walked away from unprof- ployee purge in January and licensed with the Poritable business to concentrate on building busi- tico Brand Group the following month. Although SEE WESTPOINT PAGE 23 ness with core customers. BY JENNIFER MARKS
Newport Layton
BY CECILE B. CORRAL NEW YORK — It’s a good time to be in the decorative pillow business. While some larger-ticket home textiles categories are still climbing back, the decorative pillow business continues to enjoy growth in sales thanks to what suppliers call its “recession-proof” status. “Decorative pillows have been our strongest category, and we feel it’s because of the whole recession — it’s easier and more affordable to redecorate a room with a less expensive item like a dec pillow than it is to buy a new sofa,” said Joy Stewart, president, N. Spencer Enterprises. But price and convenience aren’t the only things keeping dec pillows afloat. SEE DEC PILLOWS PAGE 6
Inside This Issue Mytex Inks Deal to Access Springs Archives ...................................................................................page 2 Three Weeks to Go ...............................................................................page 4 Sunny and Share ..................................................................................page 4 Restoration Hardware Shifts Execs to Create New Businesses .........................................................page 6 New Ikea Catalog Packed with Interactivity .....................................page 6
Home Gives Stein Mart a Second-Quarter Boost J AC K S O N V I L L E , F L A . — The home category led Stein Mart’s second quarter, with linens performing the best and home décor also buoying business. “Soft home has been tremendous,” said Jay Stein, interim ceo, during the 263-unit chain’s earnings call last week. “The numbers that we’ve seen in soft home are just clearly way beyond our expectations.” Also strong within home during the second quarter was tableSEE RESULTS PAGE 23
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August 20, 2012
News ADVERTISEMENT
Mytex Inks Deal to Access Springs Archives ROCK HILL, S.C. — Springs Creative Products Group — which retained Springs Industries’ archives after the U.S. mill operation was acquired by Brazilian manufacturer Coteminas in 2005 — has entered a partnership with Mytex, which now has access to more than 400,000 designs ranging from the 1800’s to the present day. The archives include fabric swatches, artwork and designs. In addition, Springs Creative Products Group will also provide third party distribution and logistics for Mytex’s East Coast accounts. “We are very excited to utilize the extensive collection of prints from the Springs Creative Archives to expand our bedding offerings and continue to rapidly grow our business with both existing customers and new ones,” said Bob Goldman, Mytex vp of global sales. Mytex produces sheets, bedding and other home textiles for volume retailers, with operation
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Target Meets Modest Q2 Expectations, Readies Home for Updates M INNEAPOLIS — Target Corp.’s second-quarter earnings were flat at $704 million thanks to startup expenses for its Canadian expansion as well as modest sales and comp increases.The retailer will enter the Canadian market in 2013 with 25 store openings in 18 communities in Ontario in March and April, followed by dozens of others throughout Canada into 2014. Target’s second quarter sales in the U.S. increased 3.5% to $16.5 billion from $15.9 billion last year, with comps up 3.1%.Although shoppers stuck largely to less consumables, apparel had a strong quarter and domestics and seasonal led in the home department, according to evp of merchandising Kathryn Tesija.Target.com reported flat sales for the quarter, and the retailer is making improvements to speed, capability and product assortment. Tesija said the plan is to “make sure that what we carry
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in store is also carried online.” A large part of that effort focuses on home and apparel.Other in-store and online initiatives include: • The September rollout of Target’s next installment of The Shops at Target, which is focused on home and apparel, “and we’ve partnered with four distinctive boutiques to co-create exclusive collections prices to range from $3 to $120,” Tesija said. • The October launch of the Nate Berkus collection across home. The exclusive assortment will span 150 home products with prices ranging from $6 to $150. • The third quarter introduction of Target’s new private label home brand, Threshold. The initial offering will include a small assortment of entertaining essentials, accents and decorative accessories. The rollout is expected to be completed across all of Target’s SEE RESULTS PAGE 16
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Bardwil Forges Licensing Partnership With Isaac Mizrahi N EW YORK — Bardwil Linens is bringing haute couture to table linens through its newly signed exclusive licensing partnership with Xcel Brands Inc. to manufacture table linens under the Isaac Mizrahi New York brand. The collection will be available at retail in spring 2013. Mizrahi has been a leader in the fashion industry for almost 30 years. More recently, in DeISAAC MIZRAHI cember 2009 he launched his exclusive lifestyle collection, “IsaacMizrahiLive” on multi-channel retailer QVC. He has also been involved with “Project Runway All Stars” for Lifetime, “The Fashion Show” for Bravo and his own series for both Oxygen and the Style Network. The new license alliance “is a great addition to our home business,” said Robert D’Loren, chairman and ceo of Xcel Brands, which in 2011 acquired the designer apparel brand Isaac Mizrahi New York. “I am very excited to partner with Bardwil Industries.” Added Alan Kennedy, Bardwil’s president: “Isaac Mizrahi has been a powerful, iconic brand in the home textile arena for many years. We at Bardwil are excited to be able to extend Isaac’s influence into the table linens classification.” The Mizrahi brand is the latest to join Bardwil’s roster of blue chip licenses, which include: Lenox, Tommy Bahama, Food Network and Bobby Flay. HTT
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OPINIONTodaY Three Weeks To Go
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E W YOR K HOM E FA SH IONS M A R K E T is now just three weeks away, which means companies are starting to talk about what they’ve been up to since the spring market. Based on preliminary conversations with several execs in recent days, a few trend lines are beginning to emerge. Expansion: During the recession, many companies retrenched to focus on core competencies. Increasing numbers of suppliers are starting to push into new product categories — primarily to bulk up business with existing accounts. And they’re adding staff — modestly — to support those efforts in sales EDITOR-IN-CHIEF and, usually, design. Often when they’re adding to staff here in the United States there’s also some mirror hiring in the country where they have their manufacturing base. Branding: Manufacturers whose bread and butter has long been private label are looking for ways to distinguish themselves. A number of new licensing agreements will be unveiled in the next 20 days or so. Several suppliers are also crafting in-house brands. And brands that already have a footprint one category of home textiles are expanding into other product areas. Distribution: Some offshore manufacturers are establishing distribution in the United States, frequently with a third party partner. I’m hearing more companies talking about holding inventory state-side to improve replenishment response. Cut & sew: There’s also a small movement toward bringing back (a measure) of cut & sew to the United States. I’ve yet to talk to a company that plans to do any significant cut & sew here, but with China costs up and the need to be as responsive as possible to major accounts, we’ll see how far this goes. For those of you who haven’t yet shared your market-oriented news with us, get a move on! The window is closing rapidly for inclusion in our pre-market, market and market daily issues. HTT
Jennifer Marks
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Sunny and Share
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EPOR T S OF T H E DE AT H of the American economy have been exaggerated. By a lot. Don’t look now, but it’s quite possible that the next year will be a time of business growth and development in the home business that we haven’t seen in a very long time. And any company that Warren isn’t poised to take advanof these conditions is Shoulberg tage not only going to miss the PUBLISHER/ boat, they are probably EDITORIAL DIRECTOR going to sink into oblivion. First, let’s talk about the overall economy. Yes, we all know unemployment is way too high and that’s a fundamental problem that is devastating. Job recovery is going to take a long time no matter who wins the election in November. But take a look at the housing market. In the most toxic states in the country – Florida, Nevada, California – where foreclosures and empty houses have been epidemic, the tide is starting to turn. The bottom-feeders, the folks with all the cash, have decided that bottom has been hit and they are starting to buy up excess inventory in numbers unseen since the 2008 meltdown. These guys can smell a bargain and they sense one in the housing market. In the meantime, refinancing rates are up – way up in places like Las Vegas – which means prices are starting to stabilize and the credit market is beginning to thaw out a bit.
Look too at the big home improvement retailers, Home Depot and Lowe’s. They are putting up pretty good numbers on a fairly consistent basis, which means consumers are feeling better about their homes and their prospects for staying employed. These are all positive signs. But it’s not just growth in the overall home marketplace that makes you want to get aggressive. There are some huge imbalances in retailing right now that are causing several very substantial vacuums. And everyone knows retailers abhor a vacuum. In the middle of the market JC Penney is hemorrhaging customers and that is not likely to subside anytime soon. Kohl’s has been unable to right itself and can’t seem to take advantage of Penney’s problems. Sears and Kmart are gradually becoming irrelevant to many shoppers who have stopped thinking of either store as a place to go buy things. This vast sweet spot in the middle is in play and retailers from above – Macy’s, Bed Bath & Beyond, Dillard’s – and below – Target, Walmart, the dollar stores – are all lusting after this piece of the pie. The same thing is happening on the vendor side. Suppliers who have traditionally been strong resources for stores like Penney and Sears are now going after other accounts as they’ve seen their business dwindle. Put all of this together and you have a marketplace where the opportunities are enormous – if you’re positioned to take advantage of these factors. The home business is about to be sunny. Share is up for grabs. And the beat goes on. HTT
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Retail Briefs
Restoration Hardware Shifts Execs to Create New Businesses CORTE MADERA , C ALIF. — Resto-
individual shareholder, will serve as ration Hardware is reorganizing an advisor to the nameplate with an its business, creating emphasis on strategy, crea new corporation that ative and design direction. will develop businesses Officially, he will become in apparel, accessories, RH’s creator and curator footwear and jewelry. and will act as a non-direcRH chairman and tor advisor to the board as co-ceo Gary Friedman chairman emeritus. will become foundCarlos Alberini, co-ceo er, chairman and ceo GARY FRIEDMAN of Restoration Hardware, Hierarchy of the new company, will become sole ceo and which is titled Hierarwill lead all major funcchy. RH will own a minority stake tions of the business. He joined in the company and has the ex- the company in 2010 after holdclusive right to acquire each of ing senior roles in Guess Inc. as the new businesses developed by well as Footstar, Melville CorpoHierarchy. ration, The Bon-Ton Stores and Friedman, who is RH’s largest PriceWaterhouseCoopers.
J. Michael Chu, a managing partner of Catterton Partners — which jointly controls RH along with Tower Three Partners — will become chairman of the board. “The new structure provides a creative and efficient way to develop new businesses,” said Chu. “Gary Friedman, who transformed Restoration Hardware into an admired lifestyle brand in the luxury home market, has demonstrated the ability to reconceptualize and build some of the most successful brands in the industry, and his continued efforts to drive innovation at Restoration Hardware will be invaluable.” HTT
New Ikea Catalog Packed with Interactivity
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Macy’s Stores Filling More Online Orders
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acy’s is aligning its online business more closely with physical stores. By the end of August, 290 Macy’s stores will be fulfilling online orders versus distribution centers, cfo Karen Hoguet said during in the company’s quarterly conference call earlier this month. While the process is still being fine-tuned, “what we’ve learned in many situations is that our inventory was often too tight in dot-com [at the distribution centers] to satisfy more demand.” She added that Macy’s online order fulfillments “coming out of the stores is getting very close in accuracy to the distribution centers.” Online sales — for macys.com and bloomingdales. com combined — climbed 36.1% in the second quarter and 34.8% in the first half of 2012.
Dillard’s Profit Nearly Doubles
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illard’s net income ballooned during the second quarter on improved margins and lower operating costs. Net income for the quarter ended July 28 jumped 97% to $31.0 million, or 63 cents per share. Sales rose 3.0% to $1.488 billion. Home was cited as one of the weakest performing categories during the quarter. Overall comp also increased 3%.
Burlington Coat Factory Boosts 2Q Sales
C O N S H O H O C K E N , PA . — Ikea’s
2013 catalog is rich with content — and not just what’s on its printed pages. By downloading the Ikea app to a smart phone or tablet, one can roll over pages to view products in 3D, watch video demonstrations and change the look of some items. An X-ray feature allows users to peer insider cabinets, drawers and armoires. “It works like a QR code, but it’s an IR code that scans the whole page,” said advertising specialist Cara Cordry during a demonstration in New York recently. The catalog, which drops at the end of this month, has also been reorganized by activity — organizing, sleeping, me-time, cooking, business, etc. — rather than by room. Ikea is also celebrating textiles in the 2013 book under four themes: New Life (inexpensive décor makeovers), New Comfort (“making hard things feel soft and personal”), New Creativity (using textiles to express one’s personality) and Sustainable Living. “As the ‘life improvement store,’ we recognize how textiles can make a big difference in every home and for everyone living there,” said Mary Marston, product public relations manag-
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urlington Coat Factory grew second quarter sales 8.9% to $864.2 million. Comps rose 2.9%. Top-performing categories included ladies apparel, accessories and ladies shoes, according to the company. For the six months ended July 28, sales climbed 7.2% to $1.8 billion, with comps up 1.7%.
Etailing Continues Double-Digit Growth
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nline spending rose 15% year-over-year during the second quarter to $43.2 billion, according to comScore. First-quarter growth was 17%. “While the second quarter’s 15% growth rate couldn’t quite match the especially high growth rate from the first quarter, it was nevertheless almost four times higher than the growth in overall consumer spending, a sign of continued strength in the e-commerce channel,” said comScore chairman Gian Fulgoni. “ During the quarter, 42% of e-commerce transactions included free shipping. The most recent peak took place during fourth quarter of 2011, when 52% of transactions included free shipping.
NRF Launches Mobile Retailing Info Source
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Ikea advertising specialists Katy Lee, left, and Cara Cordry demonstrate the new technology.
er for Ikea U.S. “From the first soft blanket that kept your newborn warm to the favorite pillow
that you can’t sleep without, textiles transform a living space into a home.” HTT
he National Retail Federation’s describes its new Integrated Mobile Initiative (IMI) as a source for information about the challenges and opportunities that exist within mobile retailing. Drawing from NRF’s cross-sector membership base of more than 9,000 companies and industry experts, the IMI is set to explore the scope of issues that mobile impacts and offer best practices, case studies, educational content, thought leadership, and more.
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August 20, 2012
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Dec Pillow Suppliers Seize the Day DEC PILLOWS FROM PAGE 1
As Loren Sweet, president of Brentwood Originals, noted: “There are a lot of exciting things going on in dec pillows right now that are making the business fun again.” And by that, he means color and pattern. “Four or five years ago, this business was dominated by solids,” Sweet explained. “But now colors, interesting colors, and different patterns and textures are all working so well, and the customer is really responding. There is more going on in dec pillows than I’ve ever seen in my 20 years in business. This has been the best year we’ve had in memory.” A spectrum of colors, a plethora of pattern, and printed designs in particular, are grabbing the spotlight, observed Newport/ Layton Home Fashions president Corey Faul. “Our print business is really exploding,” he said. “For the spring 2013 season, we see prints playing a major role. People are really reacting to pattern and to prints.” Home Fashions International evp Neil Zuber echoed those sentiments, predicting “a big difference in dec pillows for spring.” Whereas the printed pillow business has been “non-existent” for the past decade, “it’s coming back with a vengeance,” Zuber said. “We have 23 new styles, amounting to about 190 skus in cotton, for introduction at [New York Home Fashions] market [in September].” Indoor/outdoor pillows and cushions are another area fueling growth in the category as consumers extend their livings spaces to patios, lanais and pool sides. “We are getting great play on our embroidered and woven jacquard styles for the outdoors, and now we’re going into make a new printed collection for the line,” Zuber added. As the breadth of design, fabrication and fashion expands, so do price points, most suppliers agreed. “Retailers are happy to sell better-value and better-construction products at better price points and consumers are happy to pay better prices if they think it’s worth it,” Sean Frankel, executive vp of Arlee
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Arlee
Home Fashions, said. “If you look at our mix of dec pillows, we are certainly selling more products at higher price points than have in past.” Arlee serves all levels of retail, from discount to department stores, with its various categories, including dec pillows. For example, he went on, Arlee has always offered dec pillows that retail for $19.99 to $29.99. But more recently, the upper price point “is making up a bigger part of our mix.” Newport has also seen that “the willingness to push to higher retails is definitely out there,” Faul said. “People are willing to step up by a price point or even two these days more than ever, and this [attitude] goes all the way through the retail train.” N. Spencer Enterprises, too, has seen “everybody stepped up in prices, and we’re going for better price strategy. Even the lower-end guys are asking us for better assortments [that can carry higher retails],” Stewart said. And the added-value quotient comes at no added expense to dec pillow suppliers, making higher-price trends all the more welcome. “You put the same amount of labor into a $20 pillow as you do in a $10,” Stewart said. “In fact, it’s probably harder now to
HFI
find the really cheap fabrics [for cheaper pillows].” By better prices, Sweet offered this breakdown: “The opening price point a retail customer might have been selling at $7.99 has now gone up to $9.99, a $9.99 is now $12.99, a $14.99 is now $19.99, a $19.99 is now a $24.99, and so on, up the ladder.” By distribution channel, the segments proving to be the most successful with higherpriced goods include off-pricers and closeout chains, suggested
some suppliers. “It’s about fashion versus basics,” Stewart explained. “The strongest stores are the more fashion based, and the stores that can have broader assortments and can change their assortments more quickly.” She continued, “The key is to buy smaller quantities but more breadth of looks.” Zuber said off-price chains’ decorative pillow businesses are “up substantially not just overall but also by category.” The reason for that, he said,
is by sheer nature of these retailers. “They’ve got a good concept,” he said. “They are always buying fresh merchandise and their customers know that what they see today in the store won’t be there in three or four weeks because they are constantly bringing in newness. They have educated their customers to understand that they offer department store product at lower prices. And they continue to trade up in dec pillows and in everything else.” HTT
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High Point Market’s New Campaign Connects Fashion & Home Design HIGH POINT, N.C. — The High
Point Market is debuting a new fashion-focused marketing campaign this fall. The “Fashion Focus” campaign is designed to promote the market to the retail and design communities, to highlight the close relationship between fashion design and home design, and to showcase the High Point Market’s role as “the most exciting fashion event in home furnishings.” “The High Point Market is our industry’s Fashion Week, defining style, trends, and innovation for the home,” said Cheminne Taylor-Smith, vice president of marketing for the
High Point Market. “The Fashion Focus campaign showcases that by delivering an experience that is fresh, vibrant, and fashion-oriented through every marketing and advertising piece for the Market.” At the April High Point Market, fashion shoots with models were held in showrooms and locations throughout the market buildings to develop the creative for the new campaign. The images feature a full clothing collection by Stephanie Teague, a Greensboro, N.C.based designer who has shown her line at New York’s Mercedes-Benz Fashion Week.
“Stephanie’s clothing is fun and fresh, but with an edge to it,” said Taylor-Smith. “Her line has a lot of depth, which allowed us to pair pieces with different styles of furnishings. An added bonus is that the collection was created with ecofriendly and recycled materials.” The integrated Fashion Focus campaign — including print, direct mail, and other channels — was conceived in partnership with Emisare, the High Point Market’s agency. The Fall High Point Market will take place Oct. 13-18, 2012. HTT
HGTV’s John Gidding to Speak in Dallas in January DALLAS — HGTV’s John Gid“The ART community is ding is the first headliner to be engaging and dynamic, and it’s announced for the Dallas Total an honor and a thrill to be preHome & Gift Market, Jan. 16- senting to my fellow designers 22, 2013. On Jan. 19, 2013, at market,” Gidding said. “I’m Gidding will speak in the World looking forward to meeting the Trade Center Hall buyers and designers, talkof Nations and, later ing with them about projthat day, present ects and trends as well as at the 24th Annual celebrating the achieveARTS Awards gala ments in the industry at at the Hilton Anathe ARTS Awards gala.” tole Hotel. Born in Istanbul, Gid“We’re elated to ding attended AmeriJOHN GIDDING welcome John Gidcan schools in Turkey HGTV ding to market in and Switzerland before January,” said Cindy attending Yale University, Morris, coo, Dallas Market Cen- where he received a bachelor of ter. “His breadth of experience in arts degree in architecture. He interior design is impressive, and also earned a master’s degree we can’t wait for John to share his in architecture from Harvard’s insights with our buyers.” Graduate School of Design. His
design projects range from residential and institutional architecture to landscape and urban design. On HGTV’s “Curb Appeal: The Block,” Gidding and other experts overhaul one home’s exterior with a makeover making it the envy of the block. Then, they make their way up and down the street to repaint front doors, add window boxes, and provide smaller-scale makeovers that increase the value of the entire block. “Curb Appeal: The Block” airs on HGTV on Saturdays at 5:30 p.m. EDT and 4:30 p.m. CDT. Market attendees can book their travel by contacting Market Travel at (214)744-7444 or markettravel@mcmcmail.com. HTT
> hometextilestoday.com
IMC Announces Keynote Speakers for First Gift + Home CEO Summit LAS VEGAS — International Mar-
ket Centers (IMC) has announced the keynote speakers for its inaugural Gift + Home CEO Summit: Former Ambassador to China, Jon Huntsman Jr., and former U.S. Secretary of Labor, Robert Reich. Huntsman and Reich will draw upon their extensive experience to address issues such as geopolitics, labor and currency — all of which are impacting and influencing gift and home industry businesses today. Following each keynote session, Bob Maricich, ceo of IMC, will moderate a Q&A session. The two-day conference, geared to ceos, presidents and owners of gift and home businesses, will also present a series of breakout sessions, panel discussions and other topical presentations meaningful to industry leaders. Co-produced by International Market Centers (IMC) and Eller Enterprises, the event will take place Jan. 31Feb.1, 2013, during the Winter 2013 market. “No other industry conference or marketplace offers industry leaders exposure to U.S. economic strategists and thought leaders of this caliber,” said conference organizer Randy Eller, president of Eller Enterprises. “These men, who have served presidents and influenced international policy, will offer exclusive insights into the issues and opportunities our industry faces today and into the future.” On Thursday, Jan. 31, 2013, former U.S. Secretary of Labor Robert Reich will address international currency and geopolitical
issues — including the Euro crisis and China’s economy — impacting the gift and home industry. Reich, an economic analyst, CNBC contributor and author of 14 books, has served under three national administrations, most recently as Secretary of Labor under Bill Clinton. He also served on President Barack Obama’s economic transition board. On Friday, Feb. 1, former U.S. Ambassador to China, Jon Huntsman Jr., will speak about China, one the world’s largest product manufacturers. His remarks will focus on how issues affecting that country, such as labor and currency, presently impact the gift and home industry. Huntsman, who served as U.S. Ambassador to China from 2009-2011 and U.S. Ambassador to Singapore from 1992-1993, was also the Governor of Utah from 2005-2009. Huntsman’s public service career has also included appointments as Deputy Assistant Secretary of Commerce for Asia and Deputy U.S. Trade Representative. “The launch of this top-level conference is an important part of our transformation and differentiation of Gift + Home at Las Vegas Market,” said Dorothy Belshaw, president, Gift + Home Decor. “As the first-of-itskind executive-level conference for the gift and home industry, the Gift and Home CEO Summit is an important element of our three-phase plan to transform Las Vegas into the preeminent gift and home marketplace for the Western United States.” HTT
LuxeYard Unveils De La Fashion Flash Sale Site for Latinos L O S A N G E L E S — Luxeyard, a
fashion and home flash sales site, announced the soft-launch of De La Fashion, a site designed to offer Latino and Hispanic shoppers access to curated luxury apparel and home décor online at discounted prices. The new division and website, which includes Spanish and Portuguese translations, is led by
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De La Fashion President and site director Christian Vega, the former chief of business development for LuxeYard. “De La Fashion is the ideal luxury style destination for savvy Latin American and Hispanic shoppers who enjoy living a lavish lifestyle, who fill their homes with distinct furniture and decor and fill their closets with on-trend
fashions that epitomize luxury and a life well-lived,” Vega said. According to a company release, the members-only site is a reconceptualization of its predecessor, Eopulence.com, and offers consumers access to curated merchandise at 20% to 70% off retail prices. A members’ incentive program will be implemented the first few
weeks following initial launch, rewarding members who invite their friends to join the site with cash payments once their friend makes an initial purchase. De La Fashion will also feature a Media section, curated through media partner Latin Connoisseur Magazine, with interviews and articles on Latin celebrities and news, and home/living do-it-your-
self tips and videos. “We’ve experienced considerable success with the social ecommerce model that has pushed LuxeYard to the forefront of the flash sales market and we look forward to replicating that success with De La Fashion, expanding our reach and making luxury truly accessible for all,” said LuxeYard ceo Braden Richter. HTT
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The Bombay Company to Launch Ecommerce N E W YO R K — The Bombay “Bombay truly is a lifestyle Company – a brand now brand,” he told HTT. owned by Hermes-Otto “People really relate to International USA and the sense of style.” licensed out in numerThe company ous product categories decided to move for– will launch an ecomward with ecommerce merce site in Septembased on feedback ber. from its social media Initially, the site will WIL HOLLANDS interactions with concarry about 300 items, The Bombay Co. sumers. “The No. 1 according to Wil Holresponse was “When lands, president. will you have it online?’” said
Hollands. Bombay signed a home textiles license last October with JLA International, which includes bedding, curtains and bath accessories. The collection is exclusive to Bed Bath & Beyond. Last month, Bombay announced its latest licensing agreement, which covers youth, occasional, dining and accent furniture to be produced by The Powell Company. HTT
Protect a Bed Crosses the Pond with Underground Ad Campaign
> hometextilestoday.com
Las Vegas Market Targets Textiles for 2014 LAS VEGAS — As part of a sweeping physical and strategic repositioning of its market activities, International Market Centers’ World Market Center unit here will actively go after home textiles exhibitors and tenants for 2014, targeting better top-ofthe-bed and decorative pillow resources initially. The appeal to the textiles industry is one element of a three-phase plan to group gift and home decor companies into Building C at the market complex, an effort that will start to happen in January 2013. Furniture and decor companies that cater more to the furniture market will be grouped together in Buildings A and B at the same time. Textiles products are utlimately planned to be shown on floors 4 and 5 of Building C. Rugs and floor coverings will continue to be shown throughout the market complex with those suppliers being positioned depending on their customer bases. “This plan re-imagines and re-aligns the presentation of gift and home decor here,” said Dorothy Belshaw, president of Gift +
Home Decor, who joined IMC four months ago from her position running the New York Gift Show for George Little Management. “By strengthening existing resources, launching new categories and enriching the presentation of better goods, we will create an unparalleled marketplace for gift and home products in the western United States,” she added. When the World Market Center first opened about seven years ago, it made an initial attempt to pull the home textiles market out of New York and host it at the facility. That effort did not succeed, and while the building has a robust base of rug, furniture and home decor exhibitors, the home textiles representation has been sparse. This current effort is focused more on better textiles companies that appeal to gift and home decor stores and not necessarily to core sheet and towel suppliers for larger big-box stores. The market center also announced its dates for the next two years: Jan. 28-Feb. 1 and July 29-Aug. 2 for 2013 and Jan. 27-31 and July 28-Aug. 1 for 2014. HTT
HFPA Plans Market Week Events
London calling! Protect-A-Bed, which distributes its products in 35 countries, took out ads in more than 2,000 train carriages for the duration of the Olympics in London. The London underground ad featured Protect-A-Bed’s sleep solutions as well as a QR code, directing people to a television ad.
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NEW YORK — The Home Fashion Products Association will host three events during New York Home Fashions Market Week, which takes place Sept. 10-13 in supplier showrooms. On Sunday, Sept. 9, the association’s Young Professionals group — known as the YoPros — will host a panel discussion featuring top industry executives. Topics will range from from retail strategy to multinational manufacturing. The event takes place from 4 to 5 p.m. at the 230 Fifth Avenue rooftop lounge, on the 20th floor. Admission is free. To RSVP contact Emoses@kellencompany.com. Afterward in the same space, the HFPA will hold a membership drive from 5:00-5:30 p.m. Keith Sorgeloos, president/ceo of Home Source International
and president of HFPA, and Nancy Golden, svp marketing for Welspun USA and HFPA”s membership chair, will discuss the features and benefits for companies interested in learning more about membership to HFPA. HTT’s market kick-off party will follow from 5:30-7:30 p.m. On Tuesday, Sept. 11, the HFPA will host its 2nd Annual Market Jam party from 9:00 p.m. to midnight at Legends, 6 W 33rd Street, at 5th Ave. Live music will be provided by blues legend, Jr. Mack. Admission is $20, and proceeds will benefit the HFPA’s scholarship fund. For information or to register, contact Denise Matlack at Denise.Matlack@gmail.com or 310-5039805. HTT
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Home Textiles Today
August 20, 2012
> hometextilestoday.com
PEOPLETodaY MSLO Taps Patricia DiPette as Senior Veep, Licensing N E W YO R K — Martha Stew-
art Living Omnimedia Inc. has named Patricia DiPette svp, licensing. Described by MSLO as a “talented licensing and marketing executive...with significant experience and a successful track record in strategic business development in the licensing arena,” DiPette’s career experience includes working with many
major brands. Most recently, she was with Elie Tahari Ltd. as vp, licensing. Prior to that, she was vp of licensing and new business development at Perry Ellis, and earlier served as director of corporate licensing at Liz Claiborne Inc. In her new position, DiPette is responsible for developing and negotiating new domestic merchandising opportunities for the
company. She reports to Ann Bukawyn, evp, global licensing. “Trish has a proven record as a brand builder, as well a keen understanding and respect for the imaging and positioning of the brands she represents,” Bukawyn said. “She will be an incredible asset to MSLO and I’m delighted to have her on the team.” HTT
C & F Enterprises/Gallerie II Partner with Jenny Hammons Co. N EWPORT N EWS , VA . — C &
F Enterprises has joined forces with the Jenny Hammons Company for sales representation in the Northwest. The Jenny Hammons Co. will represent C & F Enterprise’s home linens and Gallerie
II’s home accessories to retailers in the Pacific Northwest states as well as in Northern California. C & F/Gallerie II national sales manager Jennifer Sheridan said the Jenny Hammons Company “has a strong sales team, incredible relationships, and great
experience in the industry.” Added Hammons, whose company has been in business for more than 30 years old: “We welcome this great fit and a look forward to an outstanding partnership with these two powerhouse companies.” HTT
ACS Heads For New York With New Executive est technology machinery,” said ACS Textiles has hired Rahul Singh, who is senior vp for towSingh to head its towel opera- els. “We are a ISO 1400 comtion and will be showpany certified to haning towels as well as its dle organic cotton bedding line at the New products, and we have York Home Fashions a license for Egyptian Market in September. cotton. Weaving has ACS, a company all Air Jet looms with owned by British invesDornier dobby and jactors, launched its towel quard as well as Tsudaproduction eight months koma dobby looms.” RAHUL SINGH ago. The company was ACS Textiles “The production set est ablished in 2005 up is vertical, with latas a vertical bedding NARAYANGONJ, BANGLADESH —
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producer and now manufactures three million meters of fabric per month. Its finished towel capacity is 300 tons per month, and the mill uses dyes and chemicals certified by Oeko Tex, said Singh. ACS Textiles generated $90 million US in sales last year and expects to add another $10 million US this year, he added. At the New York market, the company will show at 295 Fifth Ave. in Suite 104, Stand No. 2. HTT
Surtex Names John Erich Sales Manager W HITE P L AINS , N.Y. — Trade s h ow o r g a ni z e r G L M h a s appointed John Erich to sales manager for Surtex, the annual trade fair for the surface design industry. Previously, he served as tradeshow marketing manager for the Craft & Hobby Association. From 1998-2005, he held several sales and management positions for GLM-managed gift shows. Prior to that, he served
as sales manager for Spinergy, a sporting goods manufacturer. Erich reports to vp Penny Sikalis. “I look forward to working with Penny and the Surtex team, building on the positive energy of the 2012 edition as we prepare for next year,” said Erich. “My priorities include working with new and existing exhibitors to identify goals and maximize their tradeshow experience.” HTT
Momeni Hires Alford C ARLSTADT , N.J. — Area rug will be part of Momeni’s design design house Momeni Inc. team, and active in creating, has created a new position — refining and promoting the comdesign and marketpany’s design vision. In ing associate — and addition, she will help has appointed Ashley in the branding and Alford to fill it. marketing of the comAlford hails from pany. John Robshaw Textiles She reports to Reza in New York, where Momeni, president. she worked on design. ASHLEY ALFORD “Momeni prides She is also a recent itself on design innovaMomeni graduate of the Fashtion and that starts with ion Institute of Techthe right people. Ashnology, earning various honors ley brings a rare combination of and showcase awards during her vision, talent and work ethic,” studies. he said. HTT In her new position, Alford
Natco Adds Hill as vp, Sales WEST WARWICK , R.I. — Natco
Home Fashions has hired William “Larry” Hill as its new vp of sales. Hill brings more than 28 years of career experience in the rug and home textiles industry. Most recently, he served as the U.S. director of sales for Abhitex International of Panipat, India. Earlier, he held executive and
management sales positions with Bon Motif and Mohawk Home. He was also a founding partner of American Weavers and partner of American Rug Craftsmen, both of which were bought by Mohawk Industries. In his new post, he reports to Natco president Michael Litner and evp Bryan Bogas. HTT
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Home Textiles Today
Events
August 20, 2012
> hometextilestoday.com
Midwest Textiles and Home Product Association Hosts Charity Golf Outing D UBLIN , O HIO — The Annual Midwest Textiles and Home Prod-
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uct Association Charity Gold Outing was held in late June at The Country Club of Muirfield Village here. Over 150 guests attended this year’s event to honor Holly Archer, Charles Schlang, Marco Giovengo, Jim Schaiper, Ron Schor, Michal Motskin and Seymour Garfinkel. Contributions have been made to the specified charities for those honored. Proceeds from this year’s outing will benefit HFPA Foundation- FIT Scholarship Fund, Honor Flight Network, Columbus Blue Jackets FoundationPediatric Cancer, Big Hearts Event, Mid Ohio Food Bank and the Marco Giovengo Memorial Scholarship Fund at Robert Morris College. HTT 2
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1.From left to right: Doug Wurl, Big Lots; John Gurley, MVP Group International; John Martin, Big Lots; and Matt Parker, MVP Group International 2. From left to right: Paul Romer, Tempo; Eric Bell, JoAnne Fabrics; Roger Smit, independent rep; and Spencer Smith 3. From left to right: Michael Lichtenberg, S. Lichtenberg & Sons; Steve Fishman, Big Lots;
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Carl Goldstein, S. Lichtenberg & Sons; and Tim Johnson, Big Lots. 4. From left to right: Bill Davidge, Columbus Blue Jackets; Todd Bork, Arlee; Frank Bork, Natco; and Todd Richards,Columbus Blue Jackets. 5. From left to right: Natalie Gellman, Beatrice Home Fashions; Chuck Weiss, Beatrice Home Fashions; Cindy Hughes, Big Lots; and Dale Hughes, Sam Salem & Sons.
8/15/2012 12:45:18 PM
> hometextilestoday.com
Events
Home Textiles Today
August 20, 2012
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6. From left to right: Jeff Chilton, Soft-Tex; Keith Bolton, SoftTex; C J Gibson, Big Lots; and Aaron Croysdale, Big Lots. 7. From left to right: Kyle Ruddy, independent rep; Larry Wernick, Elrene; and Paul Ruddy, independent rep. 8. Larry Wernick, Elrene 9. From left to right: Jerry Tuchband, Ellery Home Fashions; Dan Torchia, independent rep; Mike Doherty, Ellery Home Fashions teeing off of Bruce Garfinkel, Ellery Home Fashions.
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Home Textiles Today
> hometextilestoday.com
August 20, 2012
BUSINESS TodaY TJX Cos. Ends Second Quarter on a High Note FRAMINGHAM, MASS. — TJX Companies has a lot
to celebrate upon wrapping up its first half of fiscal 2013 as the retailer is marking its seventh consecutive year of robust second quarter operating performance – companywide and by segment. “We believe [this] demonstrates the sustainability of our sales and profit growth in both strong and weak economies,” said Carol Meyrowitz, ceo, during the company’s earnings call last week. TJX Cos.’ results “significantly exceeded our original expectations, with every business posting excellent results,” she added. Net income for the quarter, ended July 28, was $421 million and diluted earnings per share were 56 cents, a 24% increase over the same period last year. Sales rose 9% to $5.9 billion, and consolidated comps were up by 7%. The U.S. and Canadian segments of the company also had much to boast about. Domestically, Marmxx reported an 8.8% sales increase to $3.9 billion, with comps up 7.0%. HomeGoods’s sales rose 16.1% to $598 million, with comps up 9.0%. TJX Canada, which includes Winners and HomeSense, saw a 3.6% sales increase to $661 million, and a 5.0% comps jump. For the first half of fiscal 2013, net income soared by 37% to $840 million, or EPS of $1.11
compared. Sales moved up 10% to $11.7 billion over last year, and comp sales increased 8%. A highlight in the quarter was customer traffic, which grew both in count and variety. Meyrowitz said the company is “convinced that we will continue to attract more new and loyal customers in the U.S. and internationally with the power of our values, brand and fashion content, and wide customer demographic appeal.” A younger customer in particular has become a bigger focus for the company, as teens are frequenting the Marmaxx chains more often “without a doubt.” While HomeGoods, by nature, “doesn’t have a young teen customer” yet, she continued, “don’t put it past us to have something up our sleeve.” Meyrowitz said that while the company’s average shoppers’ ages have “always run in high 40s … our goal is to have customers of all ages and keep them over time. And we are working on that.” Encouraged by its recent performance, TJX Companies raised fiscal year guidance earnings per share by 1 cent to a range of $2.39 to $2.45. That represents a 20% to 23% increase over the prior year’s adjusted earnings per share from continuing operations of $1.99 and is based upon estimated consolidated comparable store sales growth of 4% to 5%. HTT
Same-store sales
Comps in pre-BTS Lull NEW YORK — Same-store sales
Johnson Redbook Index rose 1.8% during the second Second week of August, year-over-year % change week of August following a 2.0% increase the previous WEEK ENDED 8/4 8/11 8/18 8/25 MONTH TARGET week, according to the JohnDepartment stores* 0.7 0.5 0.6 (0.1) son Redbook Retail Sales InDiscounters 2.7 2.5 2.6 2.6 Redbook Index 2.0 1.8 1.9 1.7 dex. *Including chain stores and traditional department stores Comp in the discount store Source: Johnson Redbook Index channel was up 2.5% while the increase in the department activity. Shoppers are still buying closer to need, store segment was 0.5%. “Clearance activity is expected to decline rap- she added. “Meanwhile, with some markets that have idly over the next few weeks depending on individual transition programs,” said Catlin Levis, gone back-to-school, stores reported a positive response to the new merchandise and tradiRedbook analyst. She noted differing school calendars across tional back-to-school apparel categories,” said the country affects the timing of back-to-school Levis. HTT
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Crown Crafts Profit Jumps in 1Q G ONZALES , L A . — Exiting an unprofitable bedding program helped propel Crown Crafts’s first quarter profits ahead 70% to $897,000, or 8 cents per share. Sales were essentially flat — down 0.2% to $17.45 million for the quarter ended July 1. Company chairman, president and ceo Randall Chestnut said the company also benefited from its “quick re-
sponse to increases in raw material prices in early fiscal 2012 when cotton prices were at alltime highs. Since that time, we have strategically reduced our dependence on cotton by successfully redesigning some of our product lines. We also selectively increased prices where appropriate, which positively impacted our bottom line.” HTT
Sears Canada’s Loss Widens TORONTO — Slowed weekend
business contributed to a second quarter net loss at Sears Canada of C$9.8 million – versus a net loss of C$200,000 in the year-ago period. Sales for the quarter ended July 28 fell 8.5% to C$1.050 billion, with comps down 7.1%. President and ceo Calvin McDonald said Sears Canada did experience continued sales increases of regularly priced merchandise on weekdays. He noted: “Sales following the opening of our new Sears Home location in Ottawa, the largest Sears Home store in the country, exceeded our expectations
Target RESULTS FROM PAGE 2
home categories by summer 2013. Target’s fourth quarter collaboration with luxury department store Neiman Marcus on Dec. 1. The joint holiday program will span 50 products across several categories, including home décor. Year to date, net earnings were up a slight 0.6% to $1.401
and the Sears Home format experienced year over year sales increases.” The company tested special promotions to boost business on Saturday and Sunday business, but “our weekend business is still underperforming and we will be executing new approaches as we proceed through the third quarter,” said McDonald. For the first half of the year, net earnings jumped 76% to C$83.2 million, which included was a pre-tax gain of C$164.3 million on the early surrender and return of leases on three properties. Sales dropped 8.2% to C$1.965 billion, with comps down 6.7%. HTT
billion. Sales increased 4.8% to $32.989 billion, and comps were up 4.2%. Target also raised its guidance for the fiscal year and now expects adjusted EPS of $4.65 to $4.85 and GAAP EPS of $4.20 to $4.40.The company noted “the difference between the GAAP and adjusted EPS range of 14 cents in the third quarter reflects the expected EPS impact of expenses related to the company’s Canadian market entry. HTT
8/15/2012 3:58:08 PM
Don’t forget to ask your Account Manager for great package rates for the Show Issue. Don Wingate ............ 336.605.1035 • dwingate@kidstodayonline.com Jason Blalock ............. 336.605.1052 • jblalock@furnituretoday.com Kara Dunlay .............. 336.605.1022 • kdunlay@furnituretoday.com Susan Jones................ 336.605.1023 • sjones@furnituretoday.com Robin Martinez ........ 336.605.1024 • rmartinez@furnituretoday.com
Mary McLoughlin ..... 646.805.0227 • mmcloughlin@hometextilestoday.com Jeff Reeves ................. 336.605.1009 • jreeves@hometextilestoday.com Janice Lassiter ........... 336.605.1026 • jlassiter@homeaccentstoday.com Michaela Haberer .... 336.605.1016 • mhaberer@homeaccentstoday.com Susan Prevatte .......... 336.605.1051 • sprevatte@homeaccentstoday.com
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Home Textiles Today
August 20, 2012
Business
HTT Global Home Show Market Kick-Off Party Sponsors:
Retailer Container Traffic Upswing Suggests Stores Increasing 4Q Offerings WASHINGTON — It looks like merchants
are planning to be bountiful in their holiday assortments, as import cargo volume at the nation’s major retail container ports is expected to increase 6.3% in August compared with the same month last year. In addition, import volume in 2012 should show an increase of 4.8% over last year, according to the monthly Global Port Tracker report released last week by the National Retail Federation and Hackett Associates. “These numbers all show significant increases for the months when retailers will be bringing merchandise into the country for the crucial holiday season, and we’re also expecting an increase for
the full year,” said Jonathan Gold, NRF vp for supply chain and customs policy. “Actual sales will depend on how consumers react to employment levels and other indicators, but retailers are clearly stocking up and hoping for a stronger fall and winter than they saw last year.” U.S. ports followed by Global Port Tracker include: Long Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Hampton Roads, Charleston, Savannah and Miami on the East Coast, and Houston on the Gulf Coast. Together, these ports handled 1.41 million Twenty-foot Equivalent Units (TEUs) in June, the latest month for which after-
the-fact numbers are available. That was up 4.7% from May and 10.7% from June 2011. One TEU is one 20-foot cargo container or its equivalent. July was estimated at 1.39 million TEU, up 2.6% from last year. August is forecast at 1.44 million TEU, up 6.3%; September at 1.46 million TEU, up 7.3%; October at 1.47 million TEU, up 13.2%; November at 1.3 million TEU, up 2.4%; and December at 1.23 million TEU, up 2.4%. The first half of 2012 totaled 7.6 million TEU, up 3.8% from the same period last year. For the full year, 2012 is expected to total 15.9 million TEU, up 4.8% from 2011. HTT
NRF: Retail Sales Made Turnaround In July WASHINGTON — Retail sales in July edged higher, ending three consecutive months of declining growth and demonstrating that consumers are gaining some semblance of confidence this summer, noted the National Retail Federation. July retail sales, excluding automobile, gas stations and restaurants, increased 0.8% seasonally adjusted from June and 1.2% unadjusted year-over-year. Sales at furniture and home furnishing stores increased 1.1% seasonally-adjusted month-to-month and 9.0% unadjusted year-over-year; “Halfway through the back-to-school season retailers are seeing positive signs that consumers are spending,” said Matthew Shay, NRF president and ceo. “However, sustained retail growth hinges on Congress’ and the administration’s ability to make smart decisions about the economy and Americans’ confidence in
our long-term recovery.” July ret ail sales released today by the U.S. Department of Commerce showed total retail and food services sales – which include non-general merchandise categories such as automobiles, gasoline stations, and restaurants – increased 0.8% seasonally adjusted month-to-month and 4.1% adjusted yearover-year. If it were unadjusted, it would be 3.4%. “Despite high unemployment, and political and fiscal uncertainty, consumers are spending again, albeit cautiously,” said Jack Kleinhenz, NRF chief economist. “Retail sales continue to remain resilient in the face of bleak international news, with retailers on track with sustained sales growth year-over-year and year to date. Retail sales will continue to see modest growth in the fall and winter.”
Other findings from the July retail sales report include: • General merchandise stores’ sales increased 0.7% seasonally-adjusted month-to-month yet decreased 1.4% unadjusted year-over-year; • Clothing and clothing accessories stores’ sales increased 0.8% seasonally-adjusted month-to-month and 2.6% unadjusted year-over-year; • Electronics and appliance stores’ sales increased 0.9% seasonally-adjusted month-to-month yet decreased 1.1% unadjusted year-over-year; • Health and personal care stores’ sales increased 1.1% seasonally-adjusted month-to-month and 0.7% unadjusted year-over-year; • Sporting goods, hobby, book and music stores’ sales increased 1.6% seasonally-adjusted month-to-month and 8.0% unadjusted year-over-year. HTT
Home Depot Raises Outlook After Solid Second Quarter ATLANTA — Home Depot beat analysts’
estimates in the second quarter, reporting a 17% jump in earnings per share to $1.01. Net income for the quarter ended July 29 increased 7% to $1.5 billion. Sales were up 1.7% to $20.6 billion. Consolidated comp
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was up 2.1%, with U.S. comp up 2.6%. “As expected, second-quarter sales reflected the pull forward of seasonal activity into the first quarter. But we saw continued demand for core products and delivered second-quarter earnings above our
expectations,” said Frank Blake, chairman and ceo. Home Depot now expects fiscal year earnings per share to be up approximately 19% to $2.95. It previously forecast FY EPS of $2.90. HTT
8/15/2012 12:42:00 PM
IT’S BACK! THE BIG HTT MARKET KICK-OFF PARTY IS BACK AT THE 230 FIFTH AVENUE ROOFTOP Sunday, September 9, 2012 5:30pm – 7:30pm
Sponsored by:
For sponsorship opportunities, contact Warren Shoulberg at wshoulberg@hometextilestoday.com or 646-805-0226.
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Featured Exhibitors at
Home Textiles Today’s Global Home Show
AL KARAM T
O
W
E
L
S
BAC
I N T E R N AT I O N A L C O R P
See these and other exhibitors at 295 5th Avenue and 7 West 34th Street.
September 9-13, 2012 Untitled-59 HTT_GHS122fall sprd.indd 2-3
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Pradip
Ahmad
Makroteks
ACS Textiles
United Weavers
Chortex Mills
Contour Products
Al Karam
September 9-13 ,2012 Fall NY Home Fashions Market Week Major Showroom Buildings Throughout Market
OBAC
For exhibition space, please contact: Joe Carena, Show Manager, jvcarena@gmail.com (203) 329-9553 Warren Shoulberg, Publisher, Home Textiles Today, wshoulberg@hometextilestoday.com (646) 805-0226
Make appointments now with these leading suppliers: AL KARAM T O W E L S
BAC
I N T E R N AT I O N A L C O R P
Exhibitor Space Now Open! Reserve Your Space Today! Untitled-59 3
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Home Textiles Today
August 20, 2012
Business
Wal-Mart Profit up 5.7% B E N T O N V I L L E , A R K . — The home department at Walmart U.S. stores generated a low single-digit comp gain during the second quarter, with basic leading the way. Back-to-College shopping is helping growth in the depart-
ment early in the third quarter, Walmart U.S. president and ceo Bill Simon said during last week’s quarterly commentary. “Our stores were ready to serve shoppers early in the season, and we’re pleased with the results. Season to date, key
back-to-school apparel categories are up 7.0%. Within home, we’re seeing strong performance in college essentials like bedding and bath,” said Simon. Operating income at Walmart U.S. climbed 5.3% to $5.25 billion during the quar-
ter ended July 31. Total sales rose 3.8% to $ 67.3 billion, with comps up 2.2%. At Sam’s Club, operating income jumped 10.1% to $536 million. Sales – excluding the impact of fuel – increased 3.8% to $14.16 billion. Comps, again
excluding fuel, rose 4.2%. Wal-Mart Stores Inc. reported consolidated income from continuing operations of $4.0 billion, up 5.7%, and earnings per share of $1.18. Total sales were up 4.5% to $113.5 billion. HTT
Heimtextil 2013 to Spotlight Textiles Design FRANKFURT, G ERMANY — Next year’s edition of Heimtextil, the largest trade show in the world for home textiles, will increase its focus on textiles design by revamping the design area in
Hall 4.2. “By giving our design area a makeover, we are looking to highlight Heimtextil’s position as the world’s largest platform for textile design. Our visitors
will be offered a new contemporary showcase for firstclass design work,” says Ulrike Wechsung, Heimtextil director. The exhibit will feature the work of approximately 150 in-
ternational exhibitors, including a number of studios that will show at the fair for the first time. The presentation will also include applications of CAD/
CAM and ink jet. Heimtextil exhibitors will be allowed to preview the design area Jan. 8 from 10 a.m. to 6 p.m. The fair will run from Jan. 9-12. HTT
CLASSIFIEDS HELP WANTED PEKING LINEN INC Home textiles distributor directly supported by its factory in China, seeks: Sales with established accounts in home fashions, and Designers experienced in home fashions. Please send resumes to:
info@pekinglinen.com Or call: 201-293-4418
One of the most successful online home textile brands in China, Racy’s Home, is seeking cooperative opportunities with home textile studios or designers from Europe and the U.S. • Do you want to show your face on the biggest B to C website in Asia? • Do you want to share your designs and ideas with the most popularity and with more than 10 million from the most exciting market of the world? • The candidate who is interested in this co-operation should have a minimum of 5 years experience in design and/or art or a related field. Candidates will be asked to show their pictures and comments on their own designs to our consumers.
small space BIG RESULTS !
THEY’RE LOOKING FOR YOU
LINES OFFERED Home Textile + Fashion Handbag/Accessories Company Hiring Sales Persons VHC, Inc. is a multi-line home textile and handbag design, import, and distribution company seeking full time, salary + commission sales persons to engage larger accounts within the US. Offices in Missouri and New Delhi, with branded and private label/custom programs. Major lines include patchwork bedding, window treatment, table textiles, wovens, braided rugs, and Bella Taylor handbags. Min. 5 years selling experience in the wholesale home textile and/or fashion import/distribution industry. Email inquiries/resumes only to: kkline@victorianheart.com
SALES PROFESSIONALS WANTED Commission based Sales Rep needed for promotionally priced Home Textile Importer. USA Warehouse, 20 years in business. Excellent reputation. Only those with real Home textile experience need apply. All territories available. E-mail resume to Andy@pamarketing.net or fax to 516-621-9125
• We will introduce your designs together to millions of our consumers in China. • We will offer market prices for your artwork if chosen by our product team.
SPENCER WHITTLE: swhittle@sandowmedia.com ph 336.605.1027 fax 336.605.1143
KAREN HANCOCK: khancock@sandowmedia.com ph 336.605.1047 fax 336.605.1143
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News 360 Park Avenue South, New York, N.Y. 10010 Tel: (646) 805-0227; Fax: (646) 365-2307 www.hometextilestoday.com www.facebook.com/httmag EDITOR-IN-CHIEF Jennifer Marks 10 Ocean Blvd #8B Atlantic Highlands, N.J. 07716 (732) 204-2012 | jnegley@hometextilestoday.com PUBLISHER/EDITORIAL DIRECTOR Warren Shoulberg (646) 805-0226 | wshoulberg@hometextilestoday.com SENIOR EDITOR Cecile B. Corral 428 Bianca Ave. Coral Gables, FL 33146 (305) 661-7493 | cbcorral@aol.com MANAGING EDITOR Julie Murphy (646) 805-0224 | jmurphy@hometextilestoday.com CONTRIBUTING GRAPHIC ARTIST Desiree Nunez (646) 805-0233 | dnunez@giftsanddec.com DIRECTOR OF MARKET RESEARCH Dana French (336) 605-1091 | dfrench@sandowmedia.com ASSOCIATE PUBLISHER, ACCOUNT MANAGER CHINA Jeff Reeves (336) 605-1009 | jreeves@hometextilestoday.com ACCOUNT MANAGER NORTHEAST/MIDWEST/ WEST COAST/CANADA Mary McLoughlin (646) 805-0227 | mmcloughlin@hometextilestoday.com CLASSIFIED AD SALES Spencer Whittle (336) 605-1027 swhittle@sandowmedia.com Karen Hancock (336) 605-1047 khancock@sandowmedia.com MANAGER, EUROPE Mirek Kraczkowski Tel: 48 22 401 70 01; Fax: 48 22 401 70 16 | kraczko@aol.com MANAGER, INDIA Kaushal Shah Cell: 91-9821715431; Tel: 91-22-6663 4597 / 24988658 Fax: 91-22-66634596 | Kaushal@kaushals.com PRODUCTION MANAGER Rich Lamb Tel: (336) 605-1074; Fax: (336) 605-1143 | rlamb@ sandowmedia.com DIRECTOR, WEB OPERATIONS Chris Schultz | (336) 605-1076 | cschultz@sandowmedia.com MANAGER, CLIENT SERVICES, WEB ADVERTISING Dan Sage | (336) 605-1080 | dsage@sandowmedia.com E-MEDIA PROJECT MANAGER Missy Axe | (336) 605-1005 | maxe@sandowmedia.com DIRECTOR OF AUDIENCE MARKETING Allison Ternes (704) 573-9007 | aternes@sandowmedia.com PRESIDENT, FURNITURE TODAY GROUP Kevin Castellani (336) 605-1034 | kcastellani@sandowmedia.com FOUNDING EDITOR-IN-CHIEF Carole Sloan 1979-2011
August 20, 2012
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Sears Cost Cutting Narrows Loss, Sales Slide Continues HOFFMAN ESTATES, ILL. — Sears Holdings pared inventories and hacked away at costs to trim its second quarter net loss to $132 million, or $1.25 per share, compared to a net loss of $146 million, or $1.37 per share in the year-ago quarter. Total sales dropped 6.6% to $9.47 billion for the quarter ended July 30.
Comps fell 2.9% at U.S. Sears stores and 4.7% at Kmart stores. Same-store sales at Sears Canada were down 7.1%. U.S. inventories were cut 6.0% to $7.9 billion year-over-year – driven by a combination of improved productivity and a smaller store base. “While we drive operational discipline, we are also investing in our cus-
tomer experience, particularly through our ShopYourWay membership program and Integrated Retail. Our focus is on providing clear benefits to our members and customers, and delivering an excellent and seamless experience across the store, online, mobile and in the home,” said company president and ceo Lou D’Ambrosio. HTT
BTS/BTC Shoppers Taking Longer to Finish Lists WASHINGTON – Back-to-school and back-to-college shoppers may have gotten an earlier start tackling their lists this year than in the past, but they are far from done, the National Retail Federation discovered. As of Aug. 7, they still had more than half of their shopping to complete, according to NRF’s 2012 Backto-School and College Surveys conducted by BigInsight. The average person with children in grades K-12 has completed 40.1% of their shopping, while college shoppers and their families have completed only slightly more, at 45.3%. Overall, school and college shoppers this year are expected to spend a total of $83.8 billion. “Given how much of an impact the economy is having on consumers’ buying decisions, retailers will remain competitive up through the final
sale after Labor Day, rolling out web, in-store and even mobile promotions to entice children and their parents,” said Matthew Shay, NRF president and ceo. The survey found that more college students and their families have already finished their shopping (16.4%), than school shoppers (7.8%). Additionally, there are fewer school and college shoppers who say they have not started their shopping yet (28.5% versus 31.1% of college shoppers last year, and 26.9% compared to 28.3% of K12 shoppers last year.) To wrap up their shopping lists, school and college shoppers will continue to look for bargains as they comparison shop in stores and online. College students and their families will head to discount (47.6%), department (41.1%) and clothing stores (30.1%). More than one-third (34.6%) of col-
lege shoppers will do the remainder of their shopping online. The survey found debit/check cards are the preferred payment method this summer for 39.4% of college students and their families. College shoppers are more likely to use their credit cards (29.4%) over cash (26.7%). “With eight in 10 Americans saying the economy will impact their school and college spending plans, it’s no surprise promotions and coupons are popular with families this summer,” NRF noted. Two in five college shoppers (38.6%) said at least half of their purchases were influenced by sales and promotions, up from 34.2% last year. When it comes to technology, 68.9% of college students and their parents shop using tablets and 51.6% of those who own smart phones plan to use them for shopping. HTT
WestPoint
ness in-house was not as crippling as advertised. What WestPoint had been outsourcing for the brand predominantly consisted of accessories, which the Lauren team now fields. What was being produced in WestPoint’s plants in Bahrain and Pakistan continues to roll through, said Savaria. “We have gotten focused, and it’s finally starting to grow,” he added. Icahn announced earlier this month that it will not renew WestPoint’s credit revolver when it expires this month.
Ninivaggi noted the company has $63 million in cash on the books and can fund itself. “We may be the best-capitalized textiles company in the country,’ he told HTT. For the first six months of the fiscal year, WestPoint’s EBIDA loss was $2 million — but Savaria said it is possible WestPoint could turn a profit for the year. “We feel good about the third and fourth quarters,” he said. HTT
quarters, as well as at least one quarter in 2011 — although he said he could not recall in which period exactly. Even so, Stein Mart is still on a road to recovery. For the quarter, ended July 28, net income sank 44.5% to $730,000, or 2
cents per share. Sales were up 2.3% to $276.4 million, with comps up 1.6%. For the first six months period, net income dropped 27% to $12.6 million, or 29 cents per share. Sales inched up 1.1% to $579.8 million, with comps up 0.5%. HTT
SANDOW MEDIA PRESIDENT AND CEO Adam I. Sandow CFO/COO Christopher Fabian VP CREATIVE AND EDITORIAL Yolanda E. Yoh
WESTPOINT FROM PAGE 1
EVP, GROUP PUBLISHER James N. Dimonekas
the Caribbean Joe license recently relocated to Alok, WestPoint still retains the Izod brand for home textiles. “We’re evaluating [other] licensed brands that we think are significantly valued,” Savaria told HTT. The death knell many foresaw in the 2011 decision by Ralph Lauren Home to take development and distribution of the Lauren Ralph Lauren Home busi-
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Stein Mart RESULTS FROM PAGE 1
top, including summer entertaining. Stein said the department has seen “a really good resurgence,” generating positive comps in the first and second
8/16/2012 2:53:50 PM
The Butterfly Meadow Blue Collection Table and Bath
ŠLenox Corporation
Bardwil Linens 1071 Sixth Avenue New York, NY 10018 646-368-6852
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