Archive for the ‘Uncategorized’ Category

Consumers more optimistic in November

Consumers got some of their mojo back in November as the Conference Board’s Consumer Confidence index jumped to 56.0, up from 40.9 in October.

The Present Situation Index increased to 38.3 from 27.1, while the Expectations Index rose to 67.8 from 50.0, the research organization said.

“Confidence has bounced back to levels last seen during the summer,” said Lynn Franco, director of The Conference Board Consumer Research Center, noting that the index hit 59.2 in July (1985=100). “Consumers’ assessment of current conditions finally improved after six months of steady declines. Consumers’ apprehension regarding the short-term outlook for business conditions, jobs and income prospects eased considerably. Consumers appear to be entering the holiday season in better spirits, though overall readings remain historically weak.”

Nov. 15 was the cutoff date for preliminary results from the monthly Consumer Confidence Survey, conducted for The Conference Board by Nielsen.

Consumers’ appraisal of present-day conditions improved in November. Those stating business conditions are “good” increased to 13.3% from 11.2%, while those stating business conditions are “bad” declined to 38.2% from 43.7%.

Consumers’ appraisal of the labor market was also more upbeat. Those claiming jobs are “plentiful” increased to 5.8% from 3.6%, while those saying jobs are “hard to get” decreased to 42.1% from 46.9%.

Consumers’ short-term outlook, which had declined in October, was less negative in November. The proportion of consumers anticipating business conditions to improve over the next six months increased to 13.6% from 10.2%, while those anticipating business conditions will worsen declined to 15.8% from 21.3%.

Consumers’ outlook for the job market also improved. Those expecting more jobs in the months ahead rose to 12.9% from 10.8%, while those expecting fewer jobs decreased to 24.1% from 27.6%. The proportion of consumers anticipating an increase in their incomes rose to 14.9% from 11.1%.

Record Shopping for Black Friday

A record 226 million consumers shopped stores and websites over Black Friday weekend and spent a record $52.4 billion, according a National Retail Federation survey.

The survey, conducted for the NRF by BIGresearch, did not break out the furniture category, but reported that 21.3% of consumers purchased home décor and home-related furnishings over the holiday weekend.

The bigger category winners were clothing or clothing accessories (bought by 51.4% of shoppers), toys, books, CDs, DVDs, videos and video games, sporting goods and consumer electronics.

Black Friday weekend is defined as Thanksgiving through the following Sunday (with Sunday’s results projected). The survey was conducted Thursday through Saturday be the research firm, which polled 3,826 consumers.

The number of shoppers was up from 212 million the year before. Shoppers spent an average of $398.62, according to the survey, up from $365.34 last year.

NRF President and CEO Matthew Shay called the results “a promising sign for the economic recovery.

“After an historic holiday weekend, retailers know the holiday season is far from over and will continue to look for ways to excite holiday shoppers and build on the momentum we’ve seen thus far,” he said.

The survey also found more consumers lining up earlier at stores. Nearly a quarter of the shoppers polled said they were at the stores by midnight on Black Friday, compared to 9.5% lined up by that time last year and 3.3% in 2009.

Consumers also were more apt to do some of their shopping via smartphone or tablet this year, the report said.

Phillips Furniture assists women’s shelter in St. Louis

KIRKWOOD, MO. — Phillips Furniture is offering discounts and other rewards to help The Women’s Safe House, a domestic violence shelter in nearby St. Louis.

The store said it will offer discounts on entire purchases made by customers who bring money, diapers, strollers or undergarments into its stores through Monday.

Representatives from The Women’s Safe House will be available on Sunday to answer questions and spread awareness of the shelter, whose mission is to provide a safe home to battered women and their children and empower them to make informed choices about their futures.

The retailer also said it will host a drawing for $2,500 in free furniture.

“Helping women is our number one priority, whether it be in our stores designing the room of their dreams or working with charities that help them have a better life,” said Michael Phillips, one of the company’s owners. “We are very excited to start this partnership with The Women’s Safe House and help them provide a safe home for women in need. Everyone deserves a good home.”

Store Owner Charged with Theft!

A furniture store owner has been jailed on six counts of taking money for furniture he never delivered, The News Courier in Athens, Alabama reported today.

Scott Connell of Limestone Furniture Mart was charged after the local sheriff’s department received 53 complaints of him taking $60,000 in payments for furniture he didn’t order.

One customer said she received excuses over several months about why her furniture wasn’t delivered and became suspicious when her daughter received a mailing inviting her to the store’s going-out-of-business sale.

Connell remains in jail after the Limestone County Community Corrections Program placed a hold on him for possible violation of probation on a 2007 conviction for leaving the scene of an accident with injury.

More Chinese Junk - 467.000 Bunk Beds Recalled

About 467,000 bunk beds sold by Dorel Asia are being voluntarily recalled because the wooden side rails can split and cause the beds to collapse, the Consumer Product Safety Commission and Health Canada said Thursday.

The agencies said CPSC and Dorel Asia had received 23 reports of the side rails, which run from the headboard to the footboard and hold the bed’s mattress in place, cracking or breaking. That included seven reports of minor bruises or abrasions.

Dorel Asia is voluntarily recalling about 445,000 beds in the United States and 21,700 in Canada, the agencies said.

The beds were sold at Wal-Mart, Kmart and Target stores, and on those retailers’ websites, from September 2004 to September 2009 for about $190. The beds’ labels say “Made in Vietnam,” and some include the name “Dorel Asia SRL.”

Consumers should contact Dorel Asia to receive a free repair kit. Until consumers obtain and install the repair kit, they should take down the bunk beds and only use them as separate twin beds, the CPSC said.

Consumers can contact Dorel Asia at (800) 295-1980 between 8:30 a.m. and 4:30 p.m. Eastern time, Monday through Friday, or visit the company’s website at www.dorelasia.com.