Furniture News Archives

Masco Corp. reported net income of $2 million or 1 cent a share on net sales of $2.44 million during the quarter ending March 31, compared with net income of $143 million or 37 cents during the same quarter ... via Crain's Detroit Business

Morgan Keegan & Company, Inc. Budd Bugatch - Raymond James & Associates Inc. Presentation Operator Good day, ladies and gentlemen. via Seeking Alpha

“We talked to people from the furniture industry for a long time and they said it never really came back like the economy did after Sept. 11, (2001)”

Mike and Cheryl Wallace have experienced a lifetime's worth of hardships at Wallace Home Furnishings over the last four years. via Oshkosh Northwestern

“Our board and management team are pleased that PROXY Governance has recognized our core messages to stockholders -- great change has been accomplished and the strategic plan is generating positive results”

Calls for Stockholders to Vote the White Proxy Card for the FBN Board Report Acknowledges and Supports Management Turnaround Plan ST. via PrimeNewswire

“Our third quarter is always our weakest due to winter weather conditions and this year sales to our retail accounts were down due to economic conditions”

Lighting company LSI Industries Inc. said Thursday its fiscal third-quarter profit fell 70 percent on a sharp drop in sales and profit margins. via Canadian Business Magazine

“These events are creating a very challenging business climate for the products that we sell”

Furniture maker Flexsteel Industries Inc. said Tuesday that third- quarter profits dropped 44 percent as orders from businesses and recreational vehicle manufacturers fell. via Chicago Tribune

“Declining consumer sentiment and small business confidence appear to be adversely impacting this channel”

Office furniture and fireplace manufacturer HNI Corp. said first quarter profits fell 81 percent as a slumping economy drove down office furniture sales and a poor housing construction market hurt its fireplace ... via Chicago Tribune

Furniture Brands International Inc. expects its first-quarter profits to be above last year's first-quarter earnings, the company reported Thursday in its preliminary financial results. via St. Louis Business Journal

“We believe tapping Albert's talent and experience in these turbulent times for the industry will strengthen the company and better position us for the eventual upturn in business.”

Albert Prillaman has resumed his position as chairman of Stanley Furniture 's board of directors to provide added strategic guidance in the face of slumping business, the company said. via Furniture Today

“Nobody's happy with where the share price is and I can understand their frustration”

Members of the new board of directors at First Calgary Petroleums Ltd. don't deserve any additional compensation until the company's stock price rebounds significantly, a shareholder told the company's annual ... via CBC News

Louis, Missouri 63105 Members of the Board: SCSF Equities, LLC has carefully reviewed all proxy materials Furniture Brands International, Inc. via Earth Times

Quarterly earnings are down for the HNI Corporation. The Muscatine-based office furniture and fireplace maker says first-quarter profits fell 81%. It says the slumping economy drove down office furniture sales ... via WQAD-TV Moline

School Specialty inc., a Greenville provider of supplemental learning products, has named David Vander Ploeg as executive vice president and chief financial officer, Vander Ploeg, 49, most recently served as ... via Business Journal Milwaukee

“The board and I are committed to generating value for FCP shareholders and in that respect we will be moving the Algerian development project forward expeditiously and reviewing all options to maximize value.”

- Richard Anderson is gone as chief executive of First Calgary Petroleums Ltd. (TSX:FCP) after dissident major shareholder Waterford Finance & Investment Ltd. carried the day in its campaign to revamp the company's board and shake up its management.

The two sides ended an acrimonious proxy battle Monday by announcing agreement on a revamped board made up of directors nominated by Waterford but still headed by current chairman Garfield Emerson, while Anderson has resigned effective immediately. Read more

Here's an unfortunate truth: the old Twin County economy is gone, dead and buried. via Galax Gazette

“We are pleased to have reached this settlement with Costa Brava, which we believe is in the best interests of all Bassett shareholders, customers and employees”

Bassett Furniture Inds. and major shareholder Costa Brava Partnership announced this morning that they have settled a proxy contest that could have reached its zenith at Bassett's annual shareholders meeting ... via Furniture Today

Coughlin Stoia Geller Rudman & Robbins LLP today announced that a class action has been commenced in the United States District Court for the District of Massachusetts on behalf of purchasers of the Investor ... via Earth Times

Officials of S&T Bancorp, Inc. announced today that they plan to broadcast the 2008 Annual Meeting of Shareholders live over the Internet. via Imaging Magazine

“We do not think that having hand-picked nominees by a competitor and potential buyer sitting on our board is in our stockholders' best interests”

Furniture Brands International Inc. sent a letter to shareholders Monday urging them to reject private investment firm Sun Capital Securities Group Inc.'s agenda to run a proxy fight to put its nominees on the ... via St. Louis Business Journal

“The proxy vote is an overwhelming endorsement by fellow shareholders that it is time for change at FCP”

Dissident shareholder Waterford Finance & Investment Ltd. says First Calgary Petroleums Ltd. via CBC News

“We have a good idea about what needs to be done and are intensely focused on executing”

Business Review Western Michigan April 02, 2008 11:46AM Steelcase Inc.'s plan to cut 200 to 250 professional positions and close three plants in California this year stems from mounting pressures facing the ... via Business Review Western Michigan - ML...

“I am blown away by the vision, commitment and resources the owners have dedicated to ensure World Market Center exceeds the needs of the industry”

When the World Market Center opened in Las Vegas three years ago, the furniture industry gasped: How could little ol' High Point compete with the bright lights of the Strip? But on Monday, when the High Point ... via Myrtle Beach Online

“Mike has over 27 years of experience in the furniture industry in the Lane and Pearson organizations”

Pearson Co . executive Mike Heath has been named president of the high-end upholstery manufacturer to replace Sam Boyd, who will retire this month. via Furniture Today

A fire scorches part of an old Hooker Furniture plant on Commonwealth Boulevard in Martinsville, just before noon. via WSLS

Cooperating companies in North Carolina and China have announced plans for a furniture supply business in Mississippi. via WAVY-TV Portsmouth

“Despite a sea of red numbers for our other indices, the Burrill Biotech Select Index recorded a credible gain of close to 4% in the month of March”

SAN FRANCISCO, April 1, 2008 /PRNewswire/ -- The biotech industry came through a very turbulent first quarter relatively unscathed with the Burrill Biotech Select Index, a price-weighted index tracking 20 of ... via Earth Times