Ashley Furniture Expands Colton Distribution Center

While many in the furniture industry are experiencing the effects of the economic downturn, Ashley Furniture has expanded it’s footprint at its Cooley Ranch Industrial Park in Colton, CA.  The company recently announced that it was purchasing 439,000 additional feet of distribution space.  Ashley’s Colton distribution center supplies merchandise to the entire West Coast.

The purchase was described as “one of the largest owner-user deals in the Inland Empire this year.”

Haverty Furniture Plans New Product Launch to Counter Sales Decline

Haverty’s, like many in the furniture industry, saw a decline in Q2 sales.  However, the Atlanta-based company is planning proactive steps to counter the effects of the current economic crunch.

According to president and CEO Clarence H. Smith, the second quarter is typically the slowest quarter for the company and sales declines were on a similar pace as the previous two quarters.  In a statement, Smith seemed confident that Haverty’s has a game plan to turn its prospects around in Qs 3 and 4:

We will be launching attractive new products with a strong value statement in the coming months and highlighting them in television, print and online media. Our Web site, which features product reviews and an easy-to-use room planner, is an important part of our reaching the customer as consumers research potential big-ticket purchases.

National Check Trust is an industry leader in supplying check guarantee and payment processing solutions to the furniture industry.

Ashley Furniture has been leading the pack for a while now and once again ranked #1 of 100 of the nations top furniture stores for the third year in a row. However, Ashley Furniture, a manufacturer and distributer of high quality furniture, hasn’t escaped the decline in sales volume. Although still ranking #1, they decreased by 15% in their sales numbers last year, topping off at 2.1 billion dollars in sales. With the overall downturn of the economy as a whole, the furniture industry has not escaped the fallout. A Furniture Today article outlines the specifics of the Top Furniture Stores and how the economic situation has affected the industry.

Furniture Sales Trends Have Declined, but the Future Looks Bright

March ended with a 21% decline in furniture sales as layoffs in the industry as a whole continued. There have, however, been some encouraging signs of consumer confidence, causing experts to believe that the furniture sales trends of the future may be brighter.

A Lexington, NC online publication reports the following regarding the furniture industry:

“We believe most of the ‘blow out’ of inventories is about over. This should mean that, hopefully, retailers will begin buying more products at more normal prices. While there may still be some discounting, at least we should not have to give the 50-80 percent discounts we have heard about.”

Good News: Economy Predicted to Pick Up at the End of 2009

The credit crunch’s affect on the furniture industry has been significant but it appears that according to the Fed, the tide could be changing as a bottom out the economy is expected soon. The bottom out will intrinsically lead to economic growth by the end of 2009.

Below, you will find the press release announcing our free check guarantee and payment solutions consultation to companies in the furniture industry. The release received wide distribution earlier today thanks in large part to the fact that NCT’s free consultation offer comes at a time when many companies are looking for ways to improve their cash flow situation. In addition to many industry journals and publications, here are a few of the sites publicizing the latest NCT announcement:

• NCT Offers Free Check Guarantee and Payment Solutions Consultation to Furniture Industry – (MarketWatch via Business Wire)
• NCT Offers Free Check Guarantee and Payment Solutions Consultation to Furniture Industry — (EarthTimes.org)
• NCT Offers Free Check Guarantee and Payment Solutions Consultation to Furniture Industry — (Yahoo! Finance)

Here is the complete press release:

NATIONAL CHECK TRUST, INC. OFFERS THE FURNITURE INDUSTRY FREE CONSULTATION GUARANTEED TO DRAMATICALLY IMPROVE CASH FLOW

MIRAMAR, Florida – May 14, 2009 — National Check Trust, Inc. (NCT) has been the premier check guarantee and payment solutions provider to the furniture industry since 1991. Since late 2007, when the industry began its downward trend and faced new economic challenges, NCT’s clients turned again to the company they trust to help them decrease cost and increase cash flow. One of NCT’s immediate responses was to give many of their clients a gifted back credit at the end of 2008.

“In response to the crisis, NCT is also taking things a step further in offering a no-cost, in-depth consultation to the industry at large,” said Jeanine Goodstein, Vice President of Sales & Marketing for NCT. “As the furniture specialist, we’re deeply committed to this industry and recognize that we are all in this together. We want to offer support to every company in the business, not just our own client base,” she continued.

National Check Trust, Inc.’s business model was designed specifically to maximize revenue and minimize risk. “We analyze how payments are processed and at what cost. We review your account and make specific recommendations that will help to cut costs, identify lost revenue and/or increase cash flow,” said Ms. Goodstein.

According to ongoing Nilson Reports, National Check Trust, Inc. is one of the largest check guarantee and payment solution providers in the country and is the only company to create programs to meet the unique demands of the industry.

NCT has a proven track record for a high level of customer service and has demonstrated a commitment to each of its clients.
For further information on the free consultation and to find out how NCT can help impact your bottom line, contact Alan Gartner at 800.858.5256, ext. 438. To learn more about NCT, go to www.nctinc.net.