Archive for April, 2009

La-Z-Boy furnishes entire Ronald McDonald House

EDMONTON, Alberta — La-Z-Boy has for the first time furnished an entire house operated by Ronald McDonald House Charities, which provides lodging to families of ill and injured children.

Volunteers from two La-Z-Boy Furniture Galleries stores here delivered more than 260 pieces of donated furniture to the remodeled Ronald McDonald House Northern Alberta. Late last year, La-Z-Boy became the official furniture provider to the charity.

More than 30 store associates and employees, led by owner Mohammed Moussa, helped deliver sofas, chairs, recliners, beds, armoires, desks, nightstands and more, helping transform the newly expanded House into a comfortable home for those in need.

“The Ronald McDonald House Northern Alberta has shown an incredible commitment to serving and providing families of ill and injured children with comfort in every sense of the word,” said Moussa. “We hope that this new furniture can contribute in a small way to the sense of comfort and tranquility that Ronald McDonald House provides to families every day.”

La-Z-Boy donates furniture to all Ronald McDonald House and Ronald McDonald Family Room programs in Canada and the United States and also contributes cash.

“We are thrilled to have a House filled with comfortable furniture that will make our families feel at home the moment they arrive,” said Larry Mathieson, executive director of the 42,000-square-foot house. “We felt so lucky to have everyone at La-Z-Boy take time out to help make families and their sick children feel comfortable, safe and supported during their stay at the House.”

Sealy Posts Profit Despite 20.9% Sales Decline

Net income down more than 70%

ARCHDALE, N.C. — Bedding major Sealy reported a profit of $4.75 million for the quarter ended March 1 as worldwide sales fell 20.9%.

The company, which produces the Sealy, Stearns & Foster and Bassett brands, said domestic sales were off 16.5% in units and dollars amid continued weak demand at retail.

“We maintained a tight focus on positively affecting the areas of our business that we can control, including further reducing expenses, providing customers with value-oriented Sealy products to address their current needs, and unveiling our new Stearns & Foster line,” said Larry Rogers, president and CEO.

Worldwide sales in the period, the first quarter of Sealy’s fiscal year, totaled $310 million. That’s down from $392 million in the quarter ended March 2, 2008.

Domestic sales of $231 million in the most recent quarter were down from $276.7 million a year earlier.

Rogers said Sealy “generated significant cash flow” during the quarter and was able pay down $64 million in debt.

“While we expect market conditions to remain difficult, we intend to continue to capitalize on our industry-leading position,” he said. “We are confident that we are well positioned with the most diversified range of product technologies and price points in the industry.”