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| Furniture Spending Declines |
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Consumer spending on furniture and bedding fell 1.8 percent from May to June, according to newly released data from the U.S. Department of Commerce (DOC). The annualized rate of furniture spending was $83.2 billion, the lowest spending rate since November of 2006.
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| Furniture Brands International Posts $23.9 Million Loss |
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Furniture Brands International (FBI) officials said the weak economy contributed to a 13 percent decline in sales from continuing operations in its second quarter. Sales from continuing operations totaled $450 million, and FBI reported a net loss of $23.9 million after posting a $5.81 million profit during the same period a year ago.
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| Furnitureland South Announces $15 Million Expansion |
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On Wednesday, Aug. 6, Furnitureland South, Jamestown, N.C., announced the debut of a new $15 million distribution center addition that adds 225,000 square feet to a building that also will house the store’s corporate office. With 1.1 million square feet of showroom space, Furnitureland South is the world’s largest home furnishings store, and the addition expands the distribution center building to 475,000 square feet.
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| Miles Talbott Furniture to Produce Joe Ruggiero Upholstery |
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Miles Talbott Furniture Inc., High Point, N.C., has signed on with Joseph Ruggiero & Associates Inc. to produce the designer’s line of upholstery, with the first introduction set for the October Market in High Point.
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| GE Money Introduces Web-Based Training |
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GE Money, Kettering, Ohio, has launched its Online Training Resource Center to help retail partners better understand and effectively communicate consumer financing to consumers.
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