Top Furniture Stores Post Another Strong Year
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46 May 22-28, 2017 FurnitureToday.com Top furniture stores post another strong year By Clint Engel Senior Retail Editor @ClintEngel Top 100 growth in sales and units, 2015-2016 The Top 100’s 2016 share of HIGH POINT — The nation’s Sales in billions* Units 2016 2015 %change 2016 2015 %change largest furniture stores racked Sales through up another good year, com- All Top 100 $43.5 $40.6 7.2% 12,781 11,277 13.3% U.S. furniture stores bining for a 7.2% sales gain Top 10 $23.3 $21.2 9.8% 7,159 5,823 22.9% in 2016 as furniture, bedding and accessory sales increased Top 100 conventional to $43.51 billion. furniture stores $23.4 $22.0 6.4% 3,300 3,151 4.7% Top 100 It wasn’t nearly as strong 81% Top 100 All other furniture as the 11% gain for last year’s specialty stores $20.1 $18.6 8.0% 9,481 8,126 16.7% list of top stores in 2015, but stores *Sales of furniture, bedding and accessories 19% the growth far outpaced that of the overall furniture store Source: PBM Strategic Insights, 2017 Furniture Today Survey of Top 100 U.S. Furniture Stores channel and gave the Top 100 yet another bump in market spot to No. 2, and Ikea moved Estimated furniture, bedding and share as the big kept getting Share of Top 100 down one spot to No. 3. Also, accessory sales through U.S. furniture stores were $53.9 billion bigger. Big Lots gained ground, mov- in 2016, up 2% from $52.8 billion The $43.51 billion sales Sales Units ing to No. 8 from No. 9. in 2015. Total U.S. furniture store sales from billion for the same stores in Three on, three off all product categories were $58.6 2015figure — was the seventhup from consecu $40.61- There are three newcomers billion in 2016 and $57.4 billion in Specialty stores 2015. tive sales increase for the list Specialty to the list this year, including stores 74% — and beat the $41.87 billion one retailer who has been here 46% Sales through all in 2015 sales for last year’s Conventional before. Brand new to the Top furniture distribution channels Top 100 companies. The 7.2% stores 100 is No. 93 Matter Broth- gain also easily topped the es- Conventional ers Furniture, the Fort Myers, 54% furniture stores timated 2% increase to $53.88 All other retail 26% billion for all furniture stores. line stores featuring primarily outlets** In Furniture Today’s 34th upscaleFla.-based coastal chain tropical of five styles full- 60% Sales of furniture, bedding and accessories annual ranking of the coun- and six leather upholstery try’s largest furniture chains, Source: PBM Strategic Insights, 2017 Furniture Today Survey of Top 100 * Top 100 U.S. Furniture Stores specialty stores. Matter Broth- this year’s Top 100 took an ers’ furniture, bedding and ac- 40% 81% share of that overall fur- cessory sales grew 1.8% this niture store sales pie. That’s mer No. 12, Sleepy’s, at the be- while U.S. store growth eased past year to an estimated $58 up from the 80% share for last - slightly, as the company added million. Estimated furniture and bedding year’s Top 100 and was the ing period last year. With that a net 43 units for a total of 558 No. 97 The Original Mat- sales through all distribution fourth consecutive year the move,ginning it of added a new fiscalabout report 1,050 stores at year end. (Add inter- tress Factory is another ap- channels were $104.8 billion in 2016. group captured 75% or more stores to its count and the Top national stores, and the store *Top 100 sales of furniture and of the market. 100 lost Sleepy’s in the pro- network is now up to more time. The Cleveland, Ohio- bedding only, excluding decorative Compared with all distri- cess. However, comparing this than 700 showrooms.) basedpearing bedding on the list retailer for the firstand accessories. bution channels, the Top 100 year’s Top 100 and its com- Furniture Today adjusts manufacturer ended the year **Includes furniture stores not bined 12,781 stores with last combined sales and store within the Top 100, as well as took 40% of the estimated with 109 stores in nine states sales through department stores, $104.8 billion overall sales year’s list yields a much more count data for the HomeStore and retail sales of about $55 warehouse membership clubs, modest 440-store increase. network and other multi- online retailers, discount department pie vs. the 39% share for last million, according to an es- stores, catalog merchants, television year’s top companies. Still, the biggest of the big dealer dedicated store net- timate by PBM Strategic In- sellers, designers, office supply continue to grow at the fastest works to eliminate double stores, rental stores, used outlets, sights, a division Furniture To- home accent/gift specialty stores, Record store growth rate. The Top 10 on this year’s counting in cases in which the day’s parent company. appliance/ electronics stores, military list saw a 9.8% sales increase licensed dealers show up in- exchanges, home improvement While sales growth didn’t Dulles, Va.-based Belfort centers, garden centers, sponsored by Genesis Credit sponsored match the success of the for- to $23.27 billion, the best dependently on the Top 100. Furniture returned to the list supermarkets and drug stores, mer Top 100, this year’s stores gain of any subcategory. Store at No. 100 and after a two-year among others. made up for it with the great- count for the group grew fast- in Ashley’s case, as 16 Top 100 absence, as 2016 sales for the Source: PBM Strategic Insights, est store count growth since est, too — by 22.9%, or 1,336 retailersThat’s particularly operate HomeStores significant 2017 Furniture Today Survey of Top 100 U.S. Furniture Stores and the Furniture Today began track- units, to end the year with a either exclusively or in addi- slightly to an estimated $46.7 U.S. Dept. of Commerce. ing the measure. The group combined 7,159 stores. But tion to their multi-line stores. million.five-store And retailer that turnedincreased out added a whopping 1,504 again, thank Mattress Firm for There was a little change to be the sales cutoff this year, stores for a 13.3% increase. most of that. in the Top 10 this year as Fort down from the $48.1 million The other missing retailer This could suggest that Worth, Texas-based Pier 1 Im- cutoff last year. is Phoenix-based The Room- the retail apocalypse so many Ashley is king … again. ports slipped off the list from Three on means three from Store, the 12-store chain that have reported has not had Ashley HomeStore, the the No. 8 spot last year to No. the previous year are gone, and - much of an impact on large dedicated network of compa- 11 this year. That made room two of them dropped off via cy in December 2015 and sub- furniture store operators as ny-owned and licensed Ashley for a new name — No. 9 Ray- consolidation. Sleepy’s, as not- sequentlyfiled for Chapter closed 11down. bankrupt It was other retailer channels, but stores, continued its domi- mour & Flanigan, returning ed earlier, was acquired by Mat- there’s one big caveat to that nance, taking the No. 1 slot for after a one-year drop to No. 11 tress Firm, and Warminster, Pa.- fall from the list since the 2014 called Mattress Firm. the 11th year in a row. Ash- last year. based Mealey’s Furniture was report,the first when bankruptcy-related the former Cali- The No. 2 company on the ley grew its U.S. HomeStore In other Top 10 moves, acquired by No. 44 Regency fornia retailer Easy Life Furni- Top 100 gobbled up the for- sales 8.8% to $3.84 billion, Mattress Firm moved up a Furniture of Brandywine, Md. ture shut down. 54 2017 TOP 100 U.S. FURNITURE STORES 50 May 22-28, 2017 FurnitureToday.com Specialty stores dominate in growth By Clint Engel in store count. Miscellaneous Senior Retail Editor @ClintEngel Top 10 conventional furniture stores specialists No. 8 Big Lots and Ranked by sales of furniture, bedding and accessories No. 60 Chair King/Fortunoff HIGH POINT — As usual, the Backyard Stores grew sales by specialty retailers on the Top Estimated furniture, bedding, Percent change Number of units 5% for a combined $1.49 bil- 100 thoroughly dominated accessory sales in $ millions lion in furniture, bedding and their larger conventional store Rank Company 2016 2015 2015 to 2016 2016 2015 accessory sales. Store count counterparts. And as usual, 1 Ashley HomeStore $3,835.1 $3,524.4 8.8% 558 515 went down by 17 units at Big they owed that domination to 5 Rooms To Go $2,350.0 $2,200.0 6.8% 135 134 Lots and up by three at Chair the bedding specialist subset. 6 Berkshire Hathaway King/Fortunoff. Without them, the conven- furniture division $2,003.2 $1,832.6 9.3% 33 33 The conventional stores tional stores would have ruled 9 Raymour & Flanigan $1,307.2 $1,177.2 11.0% 115 111 accounted for 54% of the both in terms of sales and 12 Bob’s Discount Furniture $1,157.6 $1,008.8 14.8% 76 64 Top 100’s total sales volume 14 American Signature $1,026.4 $1,032.3 -0.6% 117 119 store growth.