NFM growth

[Guest]

This is an unconfirmed rumor so take it with however many grains of salt you want.

I was chatting with an employee of NFM this past weekend and he mentioned that NFM is looking at possibly opening a new store in either Minneapolis, Denver or somewhere in Oklahoma.  

Berkshire Hathaway also owns other furniture retailers, including Star Furniture which has 10 locations in Texas, Jordan's in New Hampshire and Mass., and R.C. Willey, with around 14 stores in Idaho, Utah, Nevada and California.  It would be interesting to see what synergies they have or are planning.

[nebugeater]

Denver or Minneapolis would not surprise me a bit.  I know from friends that , at times, they advertise in those markets on occasion.

[Guest]

This one has legs. The powers that be higher up in NFM have discussed the next expansion for sometime. Twin Cities was the most probable target last I heard. Although, I kind of think an OKC store would fit their model and target market better. It will happen eventually. I know the KC store is way more successful than it was ever anticipated to be at this point.

[Guest]

Wouldn't be surprised to see Omaha's NFM store move south of the border to Sarpy County either, after the Omaha Council implements the Lazyboy recliner inspection program and Ipod use tax.

[Greg S]

All is not rosy in KC with NFM.  Over the summer it came out they had not paid millions in taxes.  They were/are in a dispute over taxes and incentives for their store down there.  They were getting some pretty bad publicity over it.  I know the local government needed the money.  Furniture Mart's stand was they would pay once it was settled.  Many of the locals felt NFM should pay up while the process was ongoing.  I know from hearing from some of them that when they disputed their taxes they still had to pay them in the interim.

Also they are now talking about building the Wizards new soccer complex on NFM property.  NFM was quoted as saying it would help their business in the current business climate.

Greg

[NovakOmaha]

All is not rosy in KC with NFM.  Over the summer it came out they had not paid millions in taxes.  They were/are in a dispute over taxes and incentives for their store down there.  They were getting some pretty bad publicity over it.  I know the local government needed the money.  Furniture Mart's stand was they would pay once it was settled.  Many of the locals felt NFM should pay up while the process was ongoing.  I know from hearing from some of them that when they disputed their taxes they still had to pay them in the interim.

Also they are now talking about building the Wizards new soccer complex on NFM property.  NFM was quoted as saying it would help their business in the current business climate.

Greg

The tax situation is old news & has been settled.  It had nothing to do with business.  It was about valuation.  The publicity was about a week & didn't have any effect on business.

[Greg S]

Last I heard only the taxes going back to 2006 had been settled, but they still owed for 2007 and 2008.

Glad it has not hurt their sales so far.  I do know their reputation took a hit.  Their were a lot of anti-NFM emails flying around down there from parents who's kids were in the school district that was due the money.  Our friends that still live there got one at the time.  I was at a Royals game when this was going on and the people in front of me were complaining about NFM.

Greg

[bargainhunter]

I was there over Labor Day weekend & the parking lot was full & plenty of people coming in & out of the store.

[Asten]

A salesman i talked to a few weeks ago said they had been looking into chicago as well, but they were more or less afraid of meeting the volume that Chicago would bring.

I, for one, would LOVE one in Chicago. There's nothing good here furniturewise at all.