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New Classic Initiates Pricing Roll Back

by New Classic Furniture |

Press Release

New Classic Initiates Pricing Roll Back

 

Fontana, CA., August 5, 2022:  

 

NEW CLASSIC Home Furnishings, Inc, a distributor of bedroom, dining room and living room furniture, has announced a US Warehouse price roll back in line with the continued reduction in ocean freight and transportation costs. The company, which has warehouses in California, Virginia and New Jersey, already began the roll back with a double-digit discount on all warehouse purchases starting July 22, 2022. New Classic says they will continue that discount until the new price becomes effective on 9/1/2022. “After the price goes into effect, all in house orders will be adjusted to reflect the new lower pricing,” said Scott Hill, President of Sales for New Classic.  “While it is true that our warehouse inventory was brought in at higher freight costs, we have carefully controlled our inventory flow, and are at the point where we can lower prices and help our dealers manage inventory. Our retailers are overstocked. Direct cans of a single product are a burden to bring in right now. This price reduction will assist our retailers by delivering a mix of goods at very competitive pricing from our warehouses in the US.”  Factory direct pricing, which was not impacted for the container price fluctuations, will remain the same.  The company’s new pricing takes into account ocean freight rates that continue to fall. “We are giving our best effort to forecast continuing decreases in freight costs. It is our goal to provide stable pricing for the remainder of the year, so our partners can confidently present product at a fair, profitable and saleable price to their customers,” said Hill.  The average roll back percentage is expected to be in the mid-teens, bringing prices down up to $100 on a motion sofa and $150-$250 down on a 4-pc bedroom set.

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