Business lending programs are badly flawed, Home Furnishings Association members told an official with the U.S. Treasury Department in a conference call May 5. Howard Haimsohn, owner of Lawrance Furniture in San Diego, said he was anxious while he waited for a Paycheck Protection Program loan and is equally anxious
Businesses have learned many lessons through the coronavirus crisis. One of them, Ashley Furniture Industries CEO Todd Wanek said in a recent Home Furnishings Association webinar, is “that you’ve got to be politically connected.” When states issued orders requiring most businesses to close, they made exceptions for retailers selling “essential”
The ripples from the coronavirus pandemic will change consumer shopping habits for years — perhaps even permanently — as more Americans choose to travel less and stay home more. That will create a more localized economy for all small businesses, and retailers should act now to take advantage of the
With more than 70 percent percent of Americans still under stay-at-home orders from the coronavirus pandemic, most furniture stores are closed or doing limited business. The Home Furnishings Association, the nation’s only trade association dedicated to furniture retailers, is working side by side to help them with a special COVID-19
The Paycheck Protection Program is the primary lending vehicle for small businesses. It was created in the Coronavirus Aid, Recovery and Economic Security Act and originally funded with $350 billion. After that was depleted, another $310 billion was added. Recipients can qualify for loan forgiveness if they meet certain criteria.
Some states are allowing furniture stores to reopen. Others will take that step soon. Still others will wait until the spread of the coronavirus subsides substantially. Many governors plan a gradual approach to relaxing restrictions. Indeed, White House guidelines advise states to proceed in phases determined by public health criteria.
Your furniture store isn’t the only operation about to reopen soon. Your manufacturers are gearing up as well. In the latest Home Furnishings Association Live Webinar, financial analysts Wayne and David McMahon from the accounting firm PerformNow told retailers that now is the time to reevaluate whom they do business
Furniture stores were allowed to reopen in South Carolina this week, with some restrictions. Among them: No more than five customers for every 1,000 square feet of space could be allowed at a time. “I said we have never, never had that many people in our stores,” Rex Maynard laughed.
It’s not a pretty picture to imagine, but let’s face it: There’s very little pretty about our current economy. So forgive Mitchell Stiles when he explains the best way for furniture retailers to reduce their cash-burn rate during this economic shutdown. “It’s like having 10 people in a lifeboat, and
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,
Shaving cost per asset while maximizing revenue is a top priority for home furnishings retailers today. To help achieve this,
A recent California jury verdict has sent a clear message to employers: when it comes to workplace concerns and adverse
Today’s furniture shoppers bounce between browsing sofas on Instagram at midnight and testing fabric swatches in your showroom on the
Why Generative AI Is Becoming a Must on the Sales Floor Retailers today are surrounded by data, but getting clear
The Home Furnishings Association (HFA) has announced that Peter Theran will be its next Chief Executive Officer effective September 1,
Smarter Media Strategies for Furniture Retailers In today’s crowded advertising landscape, every dollar counts—and standing out has never been harder. Are your media channels truly
Winning in the Age of AI for Retail SEO Retail SEO is evolving fast. With AI-driven search and Answer Engine Optimization (AEO) reshaping how consumers
Retailer-to-Retailer Roundtable: Back-End Operations Exclusive for HFA Members Looking for a place to connect with like-minded retailers, share challenges, and
In today’s crowded advertising landscape, every dollar counts—and standing out has never been harder. Are your media channels truly delivering
