News

AICO Ups Reilly, Moss; Moves to Expand in Textiles

AICO

PICO RIVERA, Calif.-AICO/Amini Innovations Corp. has promoted Chuck Reilly and Jackie Moss, and has stated its intention to enlarge its product line in textiles. Reilly, who was senior vice president of sales and marketing, has been named executive vice president. He retains his responsibilities over the company’s sales and marketing sectors, and has added strategicMore »

Last updated: October 21, 2014

Powers Tabbed as Home Depot EVP, U.S. Stores

Marc Powers

ATLANTA-The Home Depot (NYSE: HD) has named Marc Powers executive vice president of U.S. stores, succeeding Marvin Ellison, who was named president and CEO-designee of J.C. Penney last week. Powers will assume his new role on Nov. 1, the same date on which Ellison will move to his new post. He will be responsible forMore »

Last updated: October 20, 2014

Family Dollar Shareholder Pushes for Dollar General

H09-FamilyDollar3_R1

NEW YORK-Elliott Advisors, a holder of 4.9 percent of Family Dollar’s (NYSE: FDO) outstanding shares, has opened the door for more consideration of the offer by Dollar General (NYSE: DG) to acquire its dollar-store rival. In a letter to the Family Dollar board signed by Mark Levine, senior portfolio manager for Elliott Advisors, the companyMore »

Last updated: October 20, 2014

DwellStudio to Relaunch Furniture Line

DwellStudio

HIGH POINT, N.C.–DwellStudio announced at High Point Market that it will relaunch its furniture collection, shifting its partnership with Precedent to four other companies, whose names will be announced in the next few months. Backed by its owner, online retailer Wayfair, DwellStudio will be able to offer a more affordable line—in some cases, 40-50 percentMore »

Last updated: October 20, 2014

Surya Starts Manufacturing in the U.S.

Surya

HIGH POINT, N.C.–The launch of Surya’s handtufted custom rug program at market signals the beginning of its manufacturing within the U.S., a goal that is important to the company. Its Calhoun, Ga., facility already has four tufting machines, purchased from Shaw, and eventually, “we would like that to be 20,” Satya Tiwari, president, Surya, toldMore »

Last updated: October 21, 2014

Electrolux Net Grows 42 Percent in Q3

Electrolux

STOCKHOLM-Thanks to overall good market conditions throughout the world, Electrolux delivered a 42 percent jump in third-quarter net income, to SEK933 million (about $128.6 million, based on average currency values during the quarter). Net sales in the quarter, which ended on Sept. 30, came in at SEK28.8 billion (about $4 billion), increasing 6 percent. InMore »

Last updated: October 20, 2014

Magnussen to Expand High Point Showroom

Magnussen

HIGH POINT, N.C.–Furniture company Magnussen will expand its showroom space in the IHFC building’s Main Wing here, occupying the entire eighth floor and the majority of the ninth floor. The Ontario, Canada-based company, formerly on the 10th floor in IHFC, is taking over space formerly occupied by Thomasville and Drexel Heritage. The new, approximately 60,000More »

Last updated: October 20, 2014

Sleepy’s Opens 1,000th Store

Sleepy’s logo

HICKSVILLE, N.Y.-Sleepy’s has opened its 1,000th store, a location in Joliet, Ill. Founded in 1957 as a one-store operation, the company now numbers more than 1,000 locations in 16 states, from Maine to North Carolina, along with 11 distribution centers throughout the United States. David Acker, Sleepy’s president, said the retailer is proud of achievingMore »

Last updated: October 20, 2014