VENDORS/RETAILERS

By Staff -- Home Textiles Today, 11/14/2005

Vendor Salaries
Top and bottom 5 vendors by 2004 salary

Top Five
Jeffrey S. Lorberbaum, Mohawk	$720,000
Larry A. Liebenow, Quaker Fabric	682,200
Thomas M. Duff, Wellman	648,000
M. L. “Chip” Fontenot, WestPoint Stevens	493,319
H. Monte Thorton, Mohawk	435,000
Bottom Five
Arthur S. Birkins, WestPoint Stevens	$265,225
Thomas Muzekari, Quaker Fabric	234,600
Franklin N. Saxon, Culp	232,875
Joseph C. Tucker, Wellman	231,300
Rodney A. Smith, Culp	200,000
* straight salary, excluding bonus, other cash compensation and stock options

Vendor Cash Bonuses
Top and bottom vendors by 2004 bonus
Only slightly more than half, nine of the 17 executives in this year's survey, took home a cash bonus, roughly the same percentage as in the prior two years. As he did last year, Jeffrey S. Lorberbaum, Mohawk CEO, took home the largest bonus, $720,000, easily surpassing his 2004 bonus of $510,725. Holding down second place, for a second straight year, was Robert G. Culp of Culp Industries, with a cash bonus of $353,600.

Top Five
Jeffrey S. Lorberbaum, Mohawk	$756,000
Robert G. Culp, Culp	353,600
H. Monte Thorton, Mohawk	326,250
Robert B. Dale, WestPoint Stevens	156,581
William B. Kilbride, Mohawk Home	143,625
Bottom Four
M. L. “Chip” Fontenot, WestPoint Stevens	$138,610
Arthur S. Birkins, WestPoint Stevens	130,484
Franklin N. Saxon, Culp	98,972
Rodney A. Smith, Culp	85,000

Vendor Stock Options Exercised
2004 stock options exercised
With stock in public home textiles suppliers at depressed and record-low levels, stock options were a virtually worthless perk to most executives at public home textiles companies. As they had in 2003, and in 2002 before that, most executives found their options 'under water,' meaning it would cost them more to exercise the option than to buy the stock on the open market. Indeed, only one executive last year found it worth his while to cash out his options, William B. Kilbride, president of Mohawk Home, who took home $1.5 million. In the past, Kilbride has chosen not to bank the proceeds, but instead used the money to make charitable contributions.

William B. Kilbride, Mohawk	$1,546,758

Retail Salaries
Top and bottom 5 retailers by 2004 salary*

Top Five
Robert L. Nardelli, Home Depot	$2,000,000
Robert J. Ulrich, Target	1,573,925
Eugene S. Kahn, May Dept. Stores	1,500,000
Edmond J. English, TJX	1,267,308
Terry J. Lundgren, Federated Dept. Stores	1,252,917
Bottom Five
Russell Brown, Anna's Linen	$150,000
Ross E. Manning, Tuesday Morning	127,067
Kevin McLain, Anna's Linen	110,000
Carie Doll, Anna's Linen	110,000
James D. Carreker, The Bombay Company	0¹
*straight salary, excluding bonus, other cash compensation and stock options 1 - Elected to take stock instead of cash salary.

Retail Cash Bonuses
Top and bottom 5 retailers by 2004 bonus

Top Five
Robert L. Nardelli, Home Depot	$5,750,000
Robert J. Ulrich, Target	5,000,000
H. Lee Scott, Jr., Wal-Mart	4,124,772
Terry J. Lundgren, Federated Dept. Stores	3,309,400
Robert L. Tillman, Lowe's	2,813,540
Bottom Five
John W. Tate, Restoration Hardware	$25,000
Russell Brown, Anna's Linen	22,500
Larry G. Kirk, Hancock Fabrics	20,621
John F. Reeves, Tuesday Morning	20,000
James A. Austin, Hancock Fabrics	12,526

Retail Stock Options Exercised
Top and bottom 5 retailers by 2004 stock options exercised
Top honors in the category, $64.9 million, went to Allen Questrom, who stepped down at J.C. Penney after engineering a successful turnaround at the retailer. Coming in second, with somewhat more than half of Questrom's take, was Arlene Meier at Kohl's, with her $36 million in options exercised. Robert J. Ulrich at Target, a perennial big winner, took home $31.7 million, while another Target chief, Gregg W. Steinhafel, pocketed $10.3 million in options.

Top Five
Allen Questrom, J.C.Penney	$64,875,809
Arlene Meier, Kohl's	36,008,828
Robert J. Ulrich, Target	31,742,925
Gregg W. Steinhafel, Target	10,268,299
Arthur Stark, Bed Bath & Beyond	9,190,501
Bottom Five
Bruce E. Barkus, Family Dollar	$76,410
John L. Dunham, May Dept. Stores	65,029
Stephen Farley, The Bombay Company	57,495
Michael D. Ray, Stein Mart	34,457
William P. McNamara, May Dept. Stores	31,862

Methodology

Home Textiles Today's Executive Compensation Report is based on data from public documents filed with the Securities and Exchange Commission. All files are for the companies' 2004 fiscal year and the comparable fiscal year two years prior.

For the purpose of comparability, in this report, cash compensation is defined as annual salary plus bonus plus any long-term incentive plan payouts; it excludes other cash compensation and any form of stock options.

In this report, the value of stock options on the main table refers to the value of options exercised in 2004, as stated in the company's proxy statement.

The report was prepared by senior research specialist Janice Chamberlain and database chief operating officerrdinator Cynthia Myers. Business editor Don Hogsett and director of market research Kay Anderson oversaw the project.

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VENDORS/RETAILERS

By Staff -- Home Textiles Today, 11/14/2005

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