Originally published in the May 12, 2014 print issue of Furniture Today.
A number of top case goods and upholstery resources saw growth in 2013, a sign that economic tailwinds — ranging from lower unemployment to rising housing prices — continue to benefit the furniture industry.
Collectively, sources Furniture/ Today identified on its annual list of Key Sources for the U.S. Market grew to $10.6 billion in sales in 2013, up 4% from $10.2 billion in 2012. While not the double-digit growth that many would prefer, it still marks the fourth straight year of gains since the 2007-2009 recession.
Each of the top six sources identified on the list retained their same ranking from last year, with Ashley again topping the list. It achieved $3.66 billion in sales, up 4.1% from 2012, while number two resource La-Z-Boy had $1.06 billion in sales, up 3.1% from the previous year.
Furniture/Today's listing of the Key Sources for the U.S. Furniture Market ranks companies according to 2013 furniture shipments to the United States.
Sources must sell into the U.S. market, regardless of whether they have manufacturing, assembling operations or corporate offices in the U.S. Non-furniture and non-manufacturing revenues, such as investment income and retail revenues, are excluded for purposes of the ranking. Contract furniture revenues are included in the figures, because many companies do not report them separately from residential revenues.
A total revenue figure is included in the notes for those companies that have revenues outside these categories and for those that sell outside the United States.
All figures are Furniture/Today market research estimates. All figures are for the 12 months ended Dec. 31, 2013 and 2012, unless otherwise indicated. When comparing total 2013 and 2012 figures, shipments were assumed flat for the source where 2012 data was not applicable.
This listing is by no means comprehensive and does not represent the entire industry. More than the 20 furniture sources listed are vital companies within the industry. Furniture/Today chooses not to include some companies due to lack of verification of shipment figures.
This material may not be published, broadcast, rewritten or redistributed in whole or part without the express written permission of Progressive Business Media.
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