Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, April 26, 1990 TAG: 9004260216
SECTION: BUSINESS PAGE: C5 EDITION: METRO
SOURCE: Associated Press
DATELINE: HIGH POINT, N.C. LENGTH: Medium
Spokesmen for the Bassett, Lexington, Thomasville and Thayer Coggin companies agreed they have been pleasantly surprised with this year's market.
"I think manufacturers were apprehensive going in," said Don Frail, vice president of marketing for Thayer Coggin. "They were not sure what to expect. The retailing community has evidently accepted the flatness of the last two years and they're more upbeat.
"They're here to position themselves strategically, so that when business breaks and business conditions grow upward, they'll be ready. They're in a much more positive frame of mind."
Frail said his company revamped its showroom for this market, adding another 4,000 square feet of space. Thayer Coggin also added new products for retailers, a move that was designed to help the company round itself out in the high-end contemporary market, Frail said.
The major buyers shopped - and bought - early, Frail said. The "mom and pop" independents have been shopping throughout the market, he said.
At Bassett, Tom Prato, director of advertising, said his company has had a lot of showroom traffic from the smaller independent stores.
"We've upscaled our line for this market," Prato said. "It's a very fresh look for us, which is drawing attention from department stores such as Macy's all to the way down the line to stores like Heilig-Meyers."
The show struck a positive note for Bassett, whose sales have declined for three years although its net income increased 3.8 percent in the past fiscal year. In cost-cutting moves, the Virginia company has closed plants and consolidated operations, and Robert H. Spilman, Bassett chairman, told stockholders at the annual meeting in February that the economic climate of the furniture industry was the worst he'd seen in his 35 years in the business.
Steve Wilson, vice president of sales for Lexington Furniture Industries, said he thought the independents were looking not for new furniture but for traditional sales leaders.
"I feel like they're looking for salability. They don't want to take many chances. They're coming in and asking not `What's new?' but `What's selling?' Buyers are cautiously optimistic in that they're going with what they know."
Fred Staff, chief executive officer and president of Thomasville Furniture Industries, called the spring market "excellent, just outstanding."
Thomasville is different from other manufacturers showing at market because it deals with gallery distribution.
"Our traffic is fairly static," Starr said. "But we can look at the business written and can judge from that, from how long our dealers are with us and [from] their moods. They're extremely positive."
by CNB