Sales and optimism are running high for our industry right now, and the latest HFA/Piper Sandler Furniture Retailer Survey bears this out. When 2021 started, most retailers expected this year to end up right around 8%. After the first quarter of this year, those estimates now sit between 10 and
The economy. If ever we needed someone with a crystal ball to tell us where this economy is going, now would be the time to find that person. We’ve been dealing with such confounding elements. Demand for home furnishings is still up even though supply is still down. While that
A shortage of truck drivers is one of the long-term supply-chain problems impacting the furniture industry. And it’s why the Home Furnishings Association supports a proposed pilot program aimed at bringing younger drivers into the profession. The Federal Motor Carriers Safety Administration recently announced plans to study the feasibility of
HFA members should use the recent rioting and looting across the country to take a second look at their property insurance coverage, says a consultant for Solution Partner Arthur J Gallagher. Nik Levin says retailers sometimes underestimate the value on their property — either unknowingly or to save money on
Bobby Watson, co-owner Hoot Judkins Furniture in Redwood City, Calif., wants to share his loan application experience with other Home Furnishings Association members. Since March 17, the business has been open only for “contactless shopping by appointment. Contactless pickup and delivery available.” On that day, Watson also launched his effort
The Home Furnishings Association and industry allies have written to key lawmakers in Washington, D.C., to thank them for their work in enacting an important tax break. Furniture retailers can utilize the new provision to help them upgrade interior portions of their stores and warehouses. “On behalf of the undersigned
Even when some states allowed the company to remain open, HFA member La-Z-Boy Incorporated dutifully closed all of its stores nationwide last month as the coronavirus spread and COVID-19 cases began to spike. La-Z-Boy Vice President and General Counsel Steve Krull said his company’s decision was a no-brainer: “We wanted
The Home Furnishings Association is asking leaders in Washington to implement the Paycheck Protection Program lending initiative as Congress intended. While Congress wrote the $2.2 trillion CARES Act, an emergency economic relief bill signed into law by President Donald Trump on March 27, implementation was assigned to the U.S. Department
With little money coming in, many furniture retailers have no means to pay their suppliers. And the funds from most Small Business Administration loans can only be used for payroll, mortgage interest or rent and utilities – not for the cost of products just sitting in the warehouse. Retailers need
The Coronavirus Aid, Relief and Economic Security Act delivers strong tax benefits to furniture retail businesses. [HFA webinar: What the $2.2 trillion relief bill means to your business] Employee Retention Tax Credit One benefit is the Employee Retention Tax Credit. This is a credit against applicable employment taxes (Social Security,
Furniture is a big-ticket item, which means there is a long sales cycle, and you need to stay in touch
The High Point Market Authority has opened online registration for the Fall 2020 High Point Market, scheduled for Oct. 13-21.
Liability protection from COVID-related claims was easily won in Alabama. Gov. Kay Ivey granted it for businesses in an executive
When Joseph P. Kennedy III visited Simon’s Furniture Mattresses Appliances in Franklin, Mass., recently, he might have been the most
Home Furnishings Association member Baer’s Furniture will open its newest store Sept. 5 in Jacksonville, Fla. It will be the
Congress and the Trump administration are preparing another Covid-19 relief package. The Home Furnishings Association’s Washington representative, Chris Andresen, and government relations liaison Doug Clark
Everyone is trying to figure out what the “new normal” will look like when your stores reopen. What will recovery look like to you and
