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Furniture Brands International Inc. Message Board

  • rwcva rwcva May 31, 2000 1:09 PM Flag

    observation from a guy in the industry

    I sell furniture for a retailer in the metro
    Washington, d.c area.

    There is a mild slowdown in
    furniture sales, but from my opinion and most of my
    coworkers, when times get tight it's the very customer that
    these brands appeal to: Broyhiil, Thomasville, and Lane
    that slows down their spending.

    When times get
    rough and the consumer is looking for value...Broyhill
    is NOT where I take them! There are other
    manufacturer's that make a better product for just a few dollars
    more and others that make a far better product within
    afforability.

    During a recession, customers are looking for long term
    lasting value. Only Lane under the FBN umbrella offers
    that.

    You guys had better worry. Because salespeople in
    stores that offer a range of furniture DO NOT guide
    customers to Broyhill. I only sell it if customers ask for
    it.

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    • So employees are nervous about losing their jobs?
      Or do they not feel comfortable with the new
      management and reorganization of Thomasville? Have there
      been layoffs at the plants? To answer your question
      about the future price of FBN. Over time I expect them
      to control a large majority of the furniture
      industry. Assuming they get 20% of the market, the stock
      should be worth anywhere between 60-120 depending on the
      type of market we are in. If the market is crazy like
      it has been we could see a 15-20X multiple in the
      heat of some future bull market. Or a 10X multiple
      would still put it at 60. I assume the company will
      earn 6/share if it gains 20% mkt share.

      jim

    • I am currently working for TFI and I was curious
      of your thoughts on last years stock increase. Do
      you think that we will ever reach the $28 margin
      again? I am aware of all the new management and I have
      seen the downslide of production since. I blame low
      moral of the employess for a major part. With all the
      changes made here in the past year or two, it has turned
      alot of heads which are scared of change. If there was
      anyway to bring back that positive company attitude I
      think that we could all benefit. Hopefully, in the
      future we will get out of this rutt we are in and get
      back on the highway like a scalded dog.

    • I worked for HCC for about 6 years. They had a
      change in Presidents and a steady decline in profits for
      the past 5 years. In the last two quarters of 99 they
      posted no profits. They were paying for past sins and
      mismanagement.

      Too much finished goods and furniture
      wood parts inventory to write off. They did not have a
      complete catalog in the market place until shortly before
      I left in October.

      They are leaning up the
      operation and began making money again in the first quarter
      of 00. They need to concentrate on making profitable
      furniture and not offering so many different products to
      the market place.

      This is based on my
      observations as an employee.

      I like Hooker furniture
      because the plant I work at is only concerned with making
      quality furniture. There is little of the polotics(sic)
      involved in the last places I worked.

      Hooker has
      made a profit for 75 of their 76 years. Something must
      have happened in 1929 to slow business down. It is a
      closely held company.

    • I thought you said you sell furniture? Your
      profile says your a financial ANALyis? That would explain
      your view of FBN. Seems you guys are always making
      fools of yourself. Come back in 10 years and tell us to
      worry. We've done the leg work and know the truth about
      this company! Perhaps your post is to produce fear and
      selling to make a purchase, no need, it most likely will
      go lower or do nothing for the next 1-2,3 years.
      Just gives us more time to buy:)

      Jim

      • 2 Replies to japmyers
      • the opinion from our analyst: japmyers


        FBN will "most likely go lower or do nothing for the
        next 1-2, 3 years."

        Sounds just like the kind
        of investment we all all looking for.

        Thanks
        for that candid opinion.

        sounds like a
        downgrade to

        L O N G - T E R M Hold.

      • I do sell furniture!

        my avocation is a
        financial analyst.

        I do my leg work, every day
        selling furniture, boy you can sure bash someone fast
        enough that you don't even know!

        If you don't
        believe me, go into a furniture store that sells multiple
        brands and ask the salesperson which procucts he or she
        would recommend!

        I gave you an honest post, and
        I know furntiture retailing, stocks, and retail
        trends.

        Guys like you make me sick...do you fire a letter to
        the letter of Barron's, Money magazine, Investor's
        Business Daily whenever they write a story that rattles
        your feathers?

        Read what I say, go out and
        verify the information..visit a local furniture retailer
        in your area...and verify what I say about the
        quality of Broyhill is true.

    • Ok, where do you steer your customers during slower growth sales periods? (I would hesitate to use the recession word.) LZB? ROW? Others?

      • 2 Replies to austinman830
      • * In entertainment centers

        -
        Hooker

        * In Bedrooms

        - Crawford of Jamestown New
        York

        - Stanley

        - Pennsylvania House

        -
        Crescent

        * In Dining Rooms

        - American Drew

        -
        Pennsylvania House

        - Crescent

        * In fully
        upholstered

        - Clayton Marcus

        - Clyde Pearson


        - Sherrill

        - Lee

        * In exposed wood
        upholstered

        - Fairfield

        - Hickory Chair Company


        * Occasional Tables

        - Hooker

        -
        Leister

        - Riverside

        - Lane (yes a FBN
        product!)

        * Home Office

        - Hooker

        -
        Riverside

        You asked about LZB and ROW, thay also make products
        that are overpriced for the value.

        In case
        goods Lexington is overpriced for the value, but the
        quality IS THERE; just overpriced.

        In Broyhill's
        case, the quality just isn't there for the most part.
        Thomasville is not bad quality, but over priced for what it
        represents.

      • Getting some kickbacks?

        I'll be visiting
        my local retailers this weekend. Oh, so Thomasville
        offers no lasting value? Shit, I'd better worry and sell
        all my stock, I'm going to my hole to hide
        now:)

        Jim

        I've got 100,000 waiting to go in at $10/share some
        time over the next 2 years:) Recession here we
        come!!!!