Retail

Elite Leather Acquires Hiatt Furniture

Elite Leather Acquires Hiatt Furniture

LOS ANGELES—Elite Leather Company has acquired upholstered furniture maker Hiatt Furniture.  Hiatt will become a new division of Elite Leather which will keep its name under Elite’s ownership. Like Elite Leather, Hiatt Furniture is a family-run business that has been manufacturing in Southern California for over 50 years. Hans, grandson of founder Hayden H. Hiatt,More »

Uttermost Acquires Inventory of Austin Productions

Uttermost Acquires Inventory of Austin Productions

ROCKY MOUNT, Va.–Uttermost acquired all of the product inventory of Austin Productions last week, as well as a non-exclusive right to reproduce select inventory items.   Uttermost intends to sell the Austin inventory through its long established sales channels. Austin Productions, founded in 1953, is in the later stages of a transaction to sell substantially allMore »

2010 State of the Industry Report Released

2010 State of the Industry Report Released

NEW YORK–HFN’s 2010 State of the Industry Report—the only all-encompassing statistical source on home furnishings data—has been released and is now available for free online at our Web site, hfnmag.com. The 2010 report is presented online by the New York International Gift Fair. The report, also included in the April print edition of HFN, features category-by-category breakdownsMore »

Next Creations, Alok Form Joint Venture

Next Creations, Alok Form Joint Venture

NEW YORK—Next Creations, parent company of Raymond Waites Design, and Alok International have formed a joint venture called Next Creations Holdings. Alok is an India-based manufacturer of finished home textiles, fabric, yarn and polyester.  Under the terms of the agreement, Michael Vidra, president and chief executive officer of Next Creations, will assume those positions withMore »

Weintraub Conference to Focus on Exclusives

Weintraub Conference to Focus on Exclusives

FORT LEE, N.J.—Exclusives at retail will be the subject of the next Issues and Solutions Conference to be held by Emanuel Weintraub Associates. The conference will feature a panel that will include executives from retailers and companies owning “top-tier” brands, according to a statement. Members of the panel have not yet been announced. The conferenceMore »

Warren Shoulberg Column: The Wal-Get Ratio

Warren Shoulberg Column: The Wal-Get Ratio

Ditch the Dow. Have no confidence in Consumer Confidence. And cop out when it comes to comp store sales. If you want to know how’s business, all you need to understand is the Wal-Get Ratio. It’s so simple even somebody in the home furnishings business can figure it out. First look at Walmart’s business. IsMore »

HauteLook Sets Its Site on Home

HauteLook Sets Its Site on Home

LOS ANGELES–The online private sale and auction business—a retail model that virtually didn’t exist just two years ago—continues to grow in home and HauteLook is one of the players making that happen. As with many of its competitors—all of whom feature name brand goods at a discount, available for a limited amount of time toMore »

CIT Net Jumps 46 Percent in Second Quarter

CIT Net Jumps 46 Percent in Second Quarter

NEW YORK–Net income for CIT Group rose a dramatic 46 percent in the second quarter, to a total of $142.1 million. The increase occurred in spite of a 5.3 percent drop in interest income, which was $993.5 million in the second quarter. According to a CIT statement, this decline was offset by a 36 percentMore »