Originally printed in the May 19, 2014 print issue of Furniture Today
Furniture/Today's Top 100 U.S. Furniture stores posted a 7.8% increase in furniture, bedding and accessories sales in 2013, growing revenue to a combined $34.1 billion, up from $31.7 billion the year before.
That growth wasn't as impressive as the 9.9% gain in 2012 for the previous Top 100, but it blew away the meager increase for all U.S. furniture stores and led to a major capture of additional market share.
It was the fourth consecutive annual sales gain for the Top 100 as the industry and the economy continued on the road of recovery. The nation's largest furniture store chains also experienced decent physical growth, adding a net 321 stores for a 3.5% increase.
Again, that wasn't as great as the 621-store, 7.3% gain for last year’s Top 100, but it continued to move the needle in positive growth territory and away from the dark days of sales slumps and store-count declines occurring during the recession.
Furniture/Today's exclusive Top 100 U.S. Furniture Stores ranks furniture stores by 2013 sales of furniture, bedding and decorative accessories, including fabric and furniture protection, warranties and delivery charges.
To qualify, a store must specialize in home furnishings. Sales from furniture, bedding and accessories must account for 25% or more of total sales and at least 25% of those sales must come from brick-and-mortar stores. A store’s mix may also include electronics, appliances, flooring and other home furnishings.
Retailers with a broad merchandise mix, such as department stores, mass merchants and warehouse clubs that operate separate home furnishings stores are eligible for the Top 100 based on sales from their free-standing home stores only. Macy’s is ranked based on the sales from its dedicated furniture stores only, as is JCPenney.
Stores may primarily sell overstocked items, factory closeouts and one-of-a-kinds, such as The Dump and FFO Home, but not primarily sell furniture that is rented or has been previously owned. Furniture/Today will include retailers that lease or rent furniture on its Top 25 Furniture & Bedding Retailer ranking, printing in August.
Groups of stores with common ownership that operate under separate names qualify for the list. Examples are Sleep Train, which operates Sleep Train, Mattress Discounters, Sleep Country USA and Got Sleep? and American Signature, which operates Value City Furniture and American Signature Furniture.
Single-source networks, such as Ethan Allen and Bassett, are also included based on sales for their manufacturers’ dedicated store networks' dedicated stores only and not from in-store galleries.
For totals and market share calculations, any overlapping or double- counting of sales volume and store counts is eliminated for those Top 100 that operate single-source stores, such as EBCO, which operates La-Z-Boy Furniture Galleries.
Year-to-year comparisons are made to the same group of Top 100 companies ranked in both years.
In cases of stores with identical 2013 sales, the company with the faster sales growth earns the higher rank. If sales growth is also identical, then the retailer with the least number of stores earns the higher rank.
All sales figures are Furniture/Today market research estimates, unless these figures are reported specifically to the Securities and Exchange Commission. All estimates are for the 12 months ended Dec. 31, 2013 and 2012, unless otherwise indicated.
Estimates are based on information collected from surveys sent to retailers and from a variety of other sources, including company filings with the SEC, discussions with industry analysts and suppliers, and published and unpublished reports, including newspaper articles in various retail trading areas.
This ranking is by no means comprehensive and does not represent the entire industry. More than the 100 furniture stores listed are vital companies within the industry. Furniture/Today chooses not to include some companies due to lack of verification of sales 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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