La-Z-Boy Posts Quarterly Loss, Cites Weak Demand
Los Angeles, La-Z-Boy Inc reported a quarterly loss on Tuesday and the company said it would not meet its fiscal 2008 outlook, hurt by a depressed housing market and disappointing sales.
The company cited continued weak overall demand for furniture and said it was delaying plans for new stores in southeastern Florida due to the depressed housing market there.
A net loss in the fiscal second quarter came to $9.9 million on charges related to write-downs, restructuring and discontinued operations, compared with a year-ago profit of $1.95 million.
Jahnke to retire from Newell Rubbermaid
ATLANTA Newell Rubbermaid has announced that Timothy Jahnke, president of the company’s home and family segment, plans to resign on Nov. 30 to take a chief executive position at another company.
“We thank Tim for all of his contributions over a distinguished career at Newell Rubbermaid, and we wish him continued success,” said Mark Ketchum, Newell Rubbermaid’s president and ceo.
The company has a detailed succession planning process and will name a replacement in the near future.
Ensequence names Low as coo
NEW YORK Ensequence, a leading provider of software used to create, manage and distribute interactive television content, today announced the appointment of Peter Low as president and coo. Low will be based in New York City and will work closely with cable and satellite distributors, television programmers and the advertising community. Dalen Harrison will continue in his role as Ensequence ceo, and Low will report directly to Harrison.
“It’s a perfect time to join such a cutting edge company,” said Low. “The industry is more focused than ever on the promise of interactivity, and Ensequence is the company that can help distributors, programmers and advertisers increase their revenues and connect even more powerfully with their customers. I’m thrilled.”
Low was most recently evp of cable distribution and marketing for MTV Networks and BET Networks, where he led cable distribution efforts for all 26 of the MTV and BET branded channels. In addition, Low was responsible for negotiating all large distribution agreements and developed the strategy that resulted in the most extensive digital channel launch in the industry.