TUPELO, Miss. – Lane customers received a bit of good news this past week from the company in the form of price decreases on certain domestically produced items.
The company said Friday that due to the stabilization — in some cases decreases — of raw materials costs, prices have come down on domestic upholstery.
Thus, effective for orders shipped Aug. 1, the company is decreasing the cost of sofa, loveseat, chair and ottoman SKUs $15. In addition, it is dropping prices on sectional pieces by $12.50 and dropping prices on recliners by $8.
Ruff Thomas, president of domestic sales for Lane and company parent United Furniture Industries, shared his thoughts with dealers in a letter obtained by Home News Now dated Friday July 22.
“Rarely do we have the opportunity to communicate a price reduction on our products, but that is precisely what we are pleased to share with you today,” he said. “We thank you for understanding our pricing changes over the past two years as we experienced supply chain delays and saw raw material costs fluctuate drastically.
“In recent weeks, however, raw material prices have stabilized and in many cases, the prices have come down. As a valued partner, we want to pass those savings along to you.”
Lane CEO Todd Evans told Home News Now that the company hopes this will be the first of a couple of rollbacks.
“Some cost inputs have started to fall back into this hemisphere while others such as transportation and labor continue to be challenging,” he said, adding that the company felt it was important to pass these reductions on to retailers “in order to stimulate business even though the on-hand inventories we have now were produced using higher cost materials.”
The company said that no action is required from dealers for the price decrease to take effect, as its systems will account for the change on orders shipped Aug. 1.
“We thank you for your partnership, and we look forward to seeing you at the October High Point Market!,” Thomas said.