HIGH POINT — Upholstery manufacturer Man Wah USA is implementing a 3% increase on the FOB pricing of its products shipping starting July 8.

The increase is meant to help retailers control retail price points and prevent overpricing on products during a period of rising freight rates.

“We believe that this increase will help ensure that sales are not impacted, while also addressing the challenges posed by increased freight factors,” company director Gabriele Natale told dealers in a June 28 letter obtained by Home News Now.

Natale further explained that the increase aims to address current freight rates of up to $9,000 per container shipped from Asia to the West Coast and as high as $10,000 to the East Coast.

“The contracts are not being honored so we end up tending to go and buy outside the contracts,” Natale said. “It is very expensive.”

He added that the company is eating some of these costs to help keep the increase in the low single digits. It is similar to Ashley’s 3% increase on all products except domestic case goods and bedding, which takes effect July 15 on all new orders.

At Man Wah, a 3% increase on a $350 starting priced leather motion sofa with basic function would raise the cost by just over $10. On a $600 sofa with better leathers and expanded function, it would raise the cost by about $18.

“So instead of putting out a surcharge for people we are managing freight for, we put out a 3% price increase which is a very modest increase,” Natale said.

The container pricing situation has resulted because of issues ranging from ships being diverted around the Cape of Good Hope to avoid attacks in the Red Sea, to port congestion in Singapore, not to mention a flurry of shipments of consumer electronics and solar panels in May to avoid additional China tariffs.

But Natale noted that the current demand in the marketplace does not support the return of higher container rates, which industry officials say are three times or more what they were earlier this year.

“There is not enough demand to justify these prices,” Natale said. “There is plenty of capacity out there, and that should tell us that we will see freight rates leveling out soon. That is the general consensus. Now the shippers and steamship lines will try hard to pretend that is not the case, but eventually it is going to level off.”

Natale said the increase also runs counter to surcharges that the company implemented for about three years during the pandemic. This was largely in line with what other importers were doing during this period to address high freight rates, some of which exceeded $20,000 per container.

But some industry resources have said that surcharges — often shown at the bottom of an invoice — were unpopular with retailers who wanted to know the actual cost of landed product. Thus some industry resources say they are looking to avoid surcharges this time around.

“Us not putting out a surcharge is a defensive move because we need to protect the business that we have and possibly expand it,” Natale said, adding of the 3% increase, “This is a very small upcharge. We don’t want to change retail price points.”

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The new store is owned and operated by 3G Ventures, who own two additional Ashley stores in the surrounding region. This is the second Ashley Outlet in the state of Idaho. The Twin Falls Store will employ approximately 25 people.  

“We are thrilled to bring the number one furniture store brand in North America closer to our customers here in Twin Falls and surrounding areas,” said Jared Goody, general manager of 3G Ventures. “We look forward to offering a wide variety of home furnishings and mattresses to this market at exceptional values as well as providing the best customer service in the industry. Our Ashley family is incredibly excited to share this beautiful store with our guests in the area.” 

Ashley Outlet is a new store concept focusing on guest convenience and providing comfortable and quality products. With hundreds of home furnishing products, many of them being ‘grab and go’ so guests can take it home the same day, Ashley Outlet provides an easy shopping experience from start to finish.     

The new Ashley Outlet showroom design features products by category including motion and stationary upholstery, dining, bedroom, outdoor, home office, mattress and accessories. This layout makes the store easy to navigate and help customers quickly find what they are looking for. 

Ashley Outlet hours are Monday through Sunday, 9:00 a.m. – 8:00 p.m. Follow Ashley Pocatello Twin Falls on Facebook and @ashley.idaho on Instagram to stay up to date with products, promotions, and events. 

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“As the key buying destination for outdoor furnishings, Universal is excited to be a part of Casual Market,” said President Sean O’Connor. “It provides us with the opportunity to gain exposure to new potential customers.”

Universal will showcase multiple designs from its Coastal Living Outdoor collection, which includes dining and lounging furnishings in multiple weather-resistant materials such as powder coated aluminum, grade-A teak, cast concrete and all-weather wicker.

The new Saratoga Collection, introduced at spring High Point Market will be featured in the space. This modern Adirondack-inspired collection features outdoor seating, lounging, and dining furniture characterized by its angled seat back and classic wide planking. Crafted from solid teak (with a warm weathered-teak finish) and cast aluminum, accented with cast concrete details, each piece exudes a sense of rustic elegance and simplicity.

The antimicrobial foam cushions in the Coastal Living Outdoor collection can be customized with one of more than 500 fabrics, including both Sunbrella brand fabrics and InsideOut performance fabrics. And customers can opt for COM upholstery to tailor their pieces to specific preferences.

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Schumacher, who left his executive post at HFA at the end of May, recently posted on his LinkedIn page that he had joined the board of the lifestyle retailer.

In his post, he noted, “For years I have admired R&B’s commitment to their team, customers, sustainability and social responsibility. Their recent designation as a B Corp, which means Room & Board meets high standards of social and environmental performance, transparency and accountability, is a testament to the culture they have built.”

He also noted that in April, the company transitioned into a 100% Employee Stock Ownership Plan (ESOP), which gives its 1,100 employees a financial stake in the organization.

“The new board of directors is tasked with providing strategic direction and financial oversight for the company during this time,” Schumacher said. “I can’t express how honored and humbled I am to become part of the Room & Board team.”

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THE WOODLANDS, Texas — The Nasdaq Stock Market has given specialty furniture, bedding and home goods and appliances retailer Conn’s Inc. 60 days to submit a plan to regain compliance with a rule related to the timely filing of its quarterly reports.

On June 11, the company notified the U.S. Securities and Exchange Commission that it was unable to file a timely 10-Q financial report for its fiscal first quarter ended April 30. The company said the delay was because it had been unable to complete disclosures related to possible amendments to, or the refinancing of its revolving credit facility that were required to be included in its 10-Q.

“As a result, the company is unable to file, without reasonable effort or expense, the Form 10-Q on or prior to the prescribed filing date,” the company said in its June 11 disclosure.

On June 20, the company received a delinquency notification letter from Nasdaq stating it was not in compliance with Nasdaq Listing Rule 5250(c)(1) because it had not filed the report by the due date required by the SEC.   

The company said the notice has no immediate effect on its listing  or trading of its common stock on the Nasdaq Global Select Market. However, it said that it has until Aug. 19 to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rule.

Conn’s noted that if Nasdaq accepts its plan to regain compliance, Nasdaq may grant the company up to 180 calendar days from the prescribed mid-June due date for the 10-Q, or until Dec. 16, to file the 10-Q in order to regain compliance.

“However, there can be no assurance that these events will occur,” the company said in a statement issued Wednesday relating to the delinquency notice.

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Loree brings significant consumer durables and retail channel experience, having served in C-suite roles at Stanley Black & Decker, Inc. for almost 25 years, including serving as the company’s CEO from 2016 to June 2022.

During his tenure, Loree led growth strategies to increase revenue from $2 billion to $16 billion. Under Loree’s leadership, the company enhanced its advanced manufacturing capabilities, increased operational excellence and responsible business practices, and was recognized as a best workplace for innovators as well as for diversity and inclusion.

“It’s been a privilege to serve as Interim CEO, and I’m proud of the entire SSB team’s commitment to our turnaround efforts,” says Genender. “Over the last eight months, we have successfully relaunched a large portion of our product portfolio, enhanced critical retail relationships, initiated national advertising campaigns, and improved service levels and operating metrics across our plant network. These accomplishments have only been possible through coordination and teamwork across all functions of the organization. We are beginning to see the success of these efforts through regained market share, and we are well positioned for future growth and success.”

I am honored to have the opportunity to lead the Serta Simmons Bedding team into the next phase of our company’s turnaround, grounded in progress and profitable growth,” says Loree. “Mark and the leadership team have laid a strong foundation for success, and I look forward to building on the turnaround strategy and developing a strong culture of accountability focused on driving financial results.”

“Jim’s appointment follows a thoughtful search for a permanent CEO by our board of directors. We are confident he is the right choice to help us continue accelerating our turnaround efforts and drive financial results,” Genender adds. “He brings deep experience from Stanley Black & Decker and General Electric and a record of delivering operating and financial results, and I look forward to working closely with him as board chairman as we continue to expand our business and drive profitability.”

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This is the first Ashley retail location opening for Goffena Furniture, which is a third-generation-family-owned business. The Troy store will employ about 17 people. Ashley, the largest furniture store brand in North America and one of the world’s bestselling home furnishing brands, has more than 1,100 locations worldwide. 

“We are thrilled to bring Ashley, the largest furniture retailer in North America, to Troy,” said Drew Goffena, Goffena Furniture senior vice president. “It’s amazing that we get to bring quality, stylish home furnishings with the hometown family feel of Goffena Furniture to the Troy community.” 

The new store will feature Ashley’s 7.0 store concept, a design approach that allows customers to experience a simplified, bright and open floor plan. The showroom will feature complete lifestyle vignettes, down to the final detail of lighting, rugs and wall art. Product categories include bedroom, dining room, upholstery, leather, occasional tables, home office, youth bedroom, recliners, mattresses and accessories. The store also has a new Ashley mattress gallery, featuring Ashley Sleep, Tempur-Pedic and Purple mattresses. 

The new store’s hours are Monday through Friday 10 a.m. – 7 p.m., Saturday 10 a.m. – 5 p.m. and Sunday noon – 5 p.m. Follow @ashleyofficial on Facebook and Instagram to stay up to date with promotions and events. 

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HIGH POINT — Universal Furniture has hired industry veteran Rick Lovegrove as vice president of upholstery, a new position devoted to the enhancement and growth of the company’s domestic and import upholstery business.

Lovegrove comes to the company from Four Hands, where he has worked for the past decade, most recently as president of upholstery and before that as vice president, product services group and upholstery.

Before that he worked at upholstery manufacturer G. Romano for more than 18 years, both as vice president of design and creative director and brand manager.

In his new position, he reports to Universal President Sean O’Connor, who started the upholstery business for the company around 2015 and who has since handled the development/merchandising responsibilities alongside Shannon Lookabill, vice president of product development. In addition to its import upholstery line produced in Vietnam, the company expanded into domestic upholstery when it acquired Southern Upholstery in 2019. The company said the acquisition allowed Universal to develop its domestic upholstery operations in 2020.

The company said that Lovegrove will collaborate closely with O’Connor and Lookabill to “drive strategic initiatives and innovation within Universal Furniture’s designs. Together, they aim to capitalize on emerging trends, enhance product offerings and reinforce Universal Furniture’s position as a whole home leader in the furniture marketplace.”

Universal said that Lovegrove’s leadership role at Four Hands expanded the category into the “largest product segment at the company. With a career distinguished by domestic and imported furniture expertise, Lovegrove brings a unique skill set to Universal Furniture, poised to drive innovation and growth within the upholstery segment.”

“The upholstery business at Universal has been a focal point in our growth strategy, aimed at expanding design appeal and growing sales,” O’Connor said. “The rapid expansion of this division necessitated the creation of this role, and Rick’s extensive industry experience positions him perfectly to lead and further accelerate our momentum.”

“Rick’s proven track record in scaling businesses within the furniture sector aligns with our vision for Universal Furniture’s future,” O’Connor added. “His leadership will be instrumental as we continue to innovate and meet the evolving demands of our customers.”

Lovegrove said he looks forward to this next step in his industry career.

“I am truly excited to join the Universal team,” he said. “The growth of the brand over the last couple of years has been exciting to witness, and I can’t wait to build and scale the next generation of the upholstery business.” 

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SEFFNER, Fla. — Another dresser sold exclusively at Rooms To Go has been recalled because it does not comply with the performance requirements of the STURDY (Stop Tip-Overs of Risky Dressers on Youth) Act according to the United States Consumer Product Safety Commission.

On Thursday, the CPSC announced a recall involving 400 Cedona Natural View six-drawer dressers. Although there have been no injuries or incidents reported, the CPSC said that the units are unstable if they are not anchored to the wall, thus posing “serious tip-over and entrapment hazards” that can kill or injure children.

This is the second recall in the past two months for a dresser sold exclusively at Rooms To Go that allegedly does not meet the performance requirements of STURDY.

The recall involves the Cedona Natural View six-drawer dresser with model number 33117082, which is printed in black ink on a label at the back of the unit. The dresser is 68 inches long by 18 inches wide and 36 inches tall and weighs about 238 pounds.

The CPSC said the unit was made in India and sold at Rooms To Go stores nationwide and at www.roomstogo.com from November 2023 through February for about $1,000.  

Consumers have been advised to stop using the recalled dresser immediately and go to their local Rooms To Go for a replacement. The retailer, which also is contacting all known purchasers directly, will schedule a free delivery of the replacement dresser and remove the recalled dresser from their home, the CPSC said.  

For more information, consumers can contact Rooms To Go toll-free at 855-688-0919 from 9 a.m. to 4 p.m. ET Monday through Friday. Or they can email productcare@roomstogo.com or go online at www.cedonadresserrecall.com.

Home News Now has reached out to Rooms To Go and is awaiting a response to this recall and the one involving its Mill Valley Jr. six-drawer dresser announced on May 2.

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STARKVILLE,  Miss. — Miskelly Furniture is headed to Northern Mississippi to open its newest store here on Highway 12 early in August.

The store is set for a soft opening in mid-July with a grand opening set for Aug. 1. When opened, this will represent Miskelly’s seventh location, the retailer said.

According to CEO Oscar Miskelly, the retailer will open a 40,000-square-foot facility in what had formerly been a grocery store previously developed by former Houston Astros pitcher Roy Oswalt.

Starkville, also home of the iconic Mississippi State University, also appealed to the retailer, for a host of reasons, Miskelly told Home News Now. “We’ve always been a fan of college towns, and I especially like the young energy these towns bring. Also, Starkville, being a college town, gives us a wonderful opportunity to introduce young people to our brand and gives us a great pool of resources when it comes to hiring,” Miskelly added.

And while a college town has more than its share of upsides, Miskelly said the entire Starkville area is experiencing strong and sustained growth. 

He explained that Japan-based tire titan, Yokohama Tire Manufacturing, made a recent initial $300 million investment in the area, establishing an operational headquarters in the Thad Cochran Research, Technology and Economic Development Park in Starkville that houses several business functions, including administrative, human resources, information management and planning.

Earlier, Steel Dynamics Inc. announced the selection of Columbus, a short drive from Starkville, for the company’s previously announced greenfield state-of-the-art, recycled aluminum flat rolled mill. 

The combination of an energetic and upbeat college town surrounded and supported by a steadily growing economy made the Starkville location too good to pass up, Miskelly said.

“The Starkville location, which will feature 37,000 square feet of selling space, is about two hours from Jackson, and we’re going to deliver out of the Jackson distribution center. We’ll run up there with next-day delivery, and we will be able to service those customers better than they have ever been serviced,” Miskelly said.

While the product assortments will closely mirror those of the existing store (top brands include Ashley, Vintage and International Furniture Direct in case goods; Ashley, Franklin and Homestretch in upholstery; and Tempur-Pedic, Miskelly’s brand, Diamond, and Sealy in bedding), Miskelly said, “We will have some price points and products that will appeal to college students, including mattresses and futons.”

This week, the company has already set up billboards in Starkville announcing the new store and says it will do “lots of promoting” the first two weeks to celebrate its seventh location and is also working on a host of promotions for Labor Day.

“We are confident that Starkville is the right location for the products and price points we offer and will also provide us with top-line growth,” Miskelly said.

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