TOP 100 - Broad River Furniture

Transcription

FURNITURE |TODAY
www.furnituretoday.com
MAY 23, 2011
XX
Top 100 U.S. Furniture Stores
T H E B U S I N E SS N E W S PA P E R O F T H E F U R N I T U R E I N D U S T RY
TOP 100
20
12
Sponsored by
FT025i36 25
Top 100 growth in sales and units .................. 28
Single-source networks ................................... 34
Top 100 share of furniture store sales .............. 28
Stores on expansion track ............................... 36
Top 10 conventional furniture stores ............... 30
How the list was compiled .............................. 36
Top 10 specialty stores .................................... 30
Who’s who among the leading stores ............. 64
Top bedding specialists ................................... 32
Top 100 ranking ............................................. 38
5/16/2012 2:32:17 PM
28
FURNITURE |TODAY
MAY 21, 2012
Top 100 get cracking with 6.4% sales gain
Growth in bedding, lifestyle
segments lead way to growth
By Clint Engel
HIGH POINT — It took a while
to get here, but 2011 was the
year big retail survivors of the
credit crunch and a drawn-out
industry recession saw sales
momentum building, thanks in
part to a vital bedding segment
and a group of lifestyle retailers
on the march.
Furniture, bedding and accessories sales for Furniture/
Today’s Top 100 U.S. Furniture
Stores increased for the second
year in a row — this time by
6.4% to $28.4 billion.
What’s more, the store count
for the Top 100 registered its
first increase since a small gain
in the 2009 report. The combined store count for this year’s
companies grew by 1.3%, or
115 units, to 8,684 stores.
Sales growth in 2011 topped
the 5.7% increase for the Top
100 companies on last year’s
list, which was the first gain
since the anemic 0.5% growth
in 2008 (based on 2007 sales).
Indeed, the 6.4% gain far
outpaced the estimated 1.7%
increase in furniture, bedding
and accessories sales for all U.S.
furniture stores, which grew to
$42.7 billion. The difference
The Top 100’s share of total U.S.
furniture store sales
of furniture, bedding & accessories, 2011
All other
furniture
stores
33%
■ The Top 10 stores
accounted for 32% of total
furniture store sales.
Top 100
67%
■ Estimated furniture,
bedding and accessory sales
through furniture stores in
the U.S. were $42.7 billion
in 2011, up 1.7% from
$42.0 billion in 2010.
■ Total U.S. furniture store sales from all product categories were $48.0 billion in 2011 and $47.2 billion in
2010. The 2010 sales figure was revised from $47.7 billion in last year’s report.
Source: Furniture/Today’s Survey of Top 100 U.S. Furniture
Stores and the U.S. Dept. of Commerce
Share of total Top 100, 2011
Sales
Specialty stores
41%
Conventional
furniture stores
59%
Units
Specialty stores
65%
Conventional
furniture stores
35%
Sales of furniture, bedding and accessories
Source: Furniture/Today’s Survey of Top 100 U.S. Furniture Stores
FT028-036,064i36.indd 28
Growth in sales and units, 2010-2011
Sales in billions
2010 % change
2011
All Top 100 $28.4
$26.7
6.4%
8,684
8,569
Top 10 $13.8
$12.8
7.4%
4,053
3,750
Top 100 conventional $16.9
furniture stores
$16.3
3,010
2,976
1.1%
Top 100
specialty stores $11.6
$10.4
5,674
5,593
1.4%
2011
3.4%
11.1%
Units
2010 % change
1.3%
8.1%
Sales of furniture, bedding and accessories
helped the Top 100 grow its
market share for all furniture
stores to 67%, compared with
62% for the companies on the
previous year’s list.
Last year’s Top 100 companies were on the rebound from
a massive consumer pullback
and depressed housing market.
This year’s group, however, appears to have found a recipe for
sustained success — or at least
growth. That broad scale increase does not surprise industry analyst Jerry Epperson.
“It reflects what was happening during the recession,
when we lost so many of our
smaller stores, especially at the
higher end,” said the managing
director of Richmond, Va.-based
Mann, Armistead & Epperson.
“They couldn’t continue to
hang on so it just caught up
with them.”
Meanwhile, larger stores in
almost every market — Top
100 types — saw an opportunity to gain market while the
going was tough and because
of the loss of so many smaller
players. When the opportunity
arose to “gain share of mind,”
they pounced.
“A lot of orphans” — consumers who used to prefer the
fallen stores — “were now available,” Epperson said.
More than three quarters of
the retailers on this year’s list,
76, posted sales increases in
2011, slightly better that the 71
gainers on last year’s list and a
huge turnaround from the 18
increases the year before. This
time, only 18 companies posted
sales decreases.
More Top 100 companies
were in growth mode, too, as
41 reported net gains in store
count, including three that grew
store count by double digits and
two — No. 9 Sleepy’s and No.
10 Mattress Firm — who grew
by triple digits. Most of the others on the list grew cautiously,
by two or three stores, while 23
companies this year trimmed
their store counts.
For the second consecutive
year, the cutoff for making the
Top 100 ticked up, this time to
$38.6 million from $38.4 million for last year’s list. No. 100
Marlo Furniture made the cut
despite a small sales decrease
for the four-store, greater Washington, D.C.-area retailer.
For the sixth consecutive
year, the Ashley Furniture
HomeStores dedicated network
of licensed and company-owned
Ashley stores took the No. 1 spot
on the list as sales grew 12.2%
to $2.6 billion and U.S. store
count grew by a dozen units
to 434 stores. Its net sales gain
of $292 million also topped all
Top 100 companies.
The HomeStores’ sales increase was just a tick smaller
than the network’s 12.4% increase the previous year despite
opening a net nine fewer stores.
That speaks to the strength of
many of the Top 100 companies
that operate HomeStores. Seven
of them had sales increases that
rank among the top 15 on the
list, including No. 78 Broad
River Furniture, with sales up
nearly 25% last year to $66.4
million.
Other HomeStore operators
with leading percentage sales
increase are No. 98 Wellsville
Carpet Town (up 22.9%); No.
60 Crest Furniture (up 21.8%);
No. 61 The Spencer Group (up
19.2%); No. 63 Jennifer Con-
vertibles (up 18.4%); No. 57
Regency Furniture (up 18.3%);
and No. 35 Hill Country Holdings (up 17.2%).
Furniture/Today adjusts
combined sales and store count
information for Ashley Furniture HomeStores and other dedicated store networks to avoid
double counting in cases where
both the overall networks and
their licensees make the list.
The Top 10 on this year’s list
again outgrew the Top 100 as
a whole, increasing sales 7.4%
to $13.8 billion, while growing store count 8.1% to 4,053
units. That store-count gain
was thanks largely to the two
bedding specialty retailers on
the Top 10.
No. 10 Mattress Firm
bumped No. 11 La-Z-Boy Furniture Galleries from the Top
10 and posted the greatest percentage sales increase and the
greatest net store growth of any
Top 100 company.
Houston-based Mattress
Firm, which went public late
last year but remains majority
owned by a private equity firm
and senior management, grew
sales 39.2% to $831.2 million.
It added a net 181 stores for a
total of 855 units by the Jan. 31
end of its fiscal year. This is the
second year in a row Mattress
Firm led all companies for increase in net store count.
Part of the growth came
from new franchised stores but
also through the acquisition
of 55 Mattress Giant stores in
Atlanta, St. Louis and Minneapolis. (This year, the retailer
acquired the rest of Mattress Giant’s assets on May 2, including
about 180 more stores in Texas
and Florida.)
see Overview, p32
5/17/2012 10:14:47 AM
30
FURNITURE |TODAY
MAY 21, 2012
Specialty stores lead way in sales growth
By Clint Engel
HIGH POINT — Specialty stores
on the Top 100 outshone their
conventional store counterparts
and the Top 100 as a whole in
just about every imaginable
way. More have joined the list
this year, and they’ve gained
market share in both sales and
units.
They can thank the bedding
specialist subcategory for most
of this lift, but that’s another
story (see page 32).
Furniture, bedding and accessories sales for the 25 specialty retailers on this year’s list,
increased by 11.1% to $11.6
billion — as the specialists walloped the remaining conventional stores and their combined
3.4% sales gain to $16.9 billion.
The specialists bested the 6.4%
sales gain for the combined Top
100, the 7.4% gain for the Top
10 and the 10.9% sales gain for
the single-source store networks
in the Top 100.
The specialists’ 1.4% gain
in store count (a net 81 stores)
also beat out the conventional
stores, which grew their store
base by 1.1% or 34 units.
The Top 10 furniture stores
on the Top 100, meanwhile,
grew their unit count even more
— 8.1% — but even here they
had the specialists to thank. If it
weren’t for the nearly 300 stores
gained by No. 9 Sleepy’s and
No. 10 Mattress Firm combined,
the Top 10’s store count increase
would have been just 0.3%.
Among the specialists, two
bedding retailers are new additions to Top 100 — No. 80
American Mattress, part of
the No. 25 America’s Mattress
dealer network, and No. 68 Innovative Mattress Solutions. In
addition, the Top 100 specialists
reversed a recent trend of declining store count, adding just
over 80 stores for a combined
5,674 at year end.
The 3.4% sales gain for the
75 conventional furniture stores
in the Top 100 fell short of the
4.6% gain for conventional
stores on last year’s list, while
the 1.1% rate of store growth
was just slightly better than the
previous 1% gain.
Again, No. 1 Ashley Furniture HomeStores took up
much of the slack from several
other conventional retailers
still struggling to regain sales
or expansion momentum. The
HomeStores network added 12
FT026-036i36 30
stores last year. More importantly, combined furniture,
bedding and accessories sales
jumped by $292 million to
$2.69 billion — the greatest
net dollar gain for any Top 100
company.
On the expansion front, the
conventional stores were helped
by No. 18 Art Van, which added
32 stores — nearly doubling its
store count — although most
of that growth was the result
of bedding store expansion
with the acquisition of Mattress World stores in Michigan
and Indiana and the opening
of additional Art Van PureSleep
shops. For now, Furniture/Today
is categorizing Art Van strictly
as a conventional furniture retailer, though this is subject to
change.
These types of gains helped
make up for some decreases
among the conventional stores,
including the $134.8 million decline in sales for No. 7
American Signature to $965.8
million and the $83.4 million
sales drop (down 25.8%) for
No. 30 RoomStore. Richmond,
Va.-based RoomStore slashed
its store count from 145 units
at the end of the year to 111
now (including its Mattress Discounters bedding chain). Since
late last year, RoomStore has
exited Alabama, Pennsylvania,
Florida and Texas.
The top performers among
the specialists were the bedding
retailers, which grew sales 18%
to $3.5 billion and grew store
count by a net 114 units.
No. 67 Chair King/Fortunoff Backyard Store is the only
retailer in a “casual specialty”
subcategory, but it’s worth noting for its 15.7% sales increase
to $81 million and the addition
of a net three stores for a total
of 28 at year end.
Three living room specialists on the Top 100 also had an
impressive year, combining for
an 11.7% sales gain to $872.9
million, even though they lost
a net 11 stores. No. 63 Jennifer Convertibles appears to be
back on track with an 18.4%
sales gain to $90 million despite trimming its store count
by 14 showrooms last year. No.
11 La-Z-Boy Furniture Galleries
managed a 10.9% sales gain
to $820 million while La-Z-Boy
licensee EBCO grew 8.2% to
$52.8 million.
No. 2 Ikea, the largest of
the so-called lifestyle specialty
Top 10 conventional furniture stores
Ranked by sales of furniture, bedding and accessories
Estimated furniture, bedding, Percent
accessory sales in $ millions
change
2011
2010
2010 to 2011
Rank Company
1
Ashley Furniture
HomeStores
3
Rooms To Go
5
Berkshire Hathaway
furniture division
6
Raymour & Flanigan
7
American Signature
14
Ethan Allen
15
Bob’s Discount
Furniture
16
Havertys
18
Art Van
19
Slumberland
Number of units
2011
2010
$2,686.0
$1,500.0
$2,394.0
$1,410.0
12.2%
6.4%
434
125
422
123
$1,208.2
$1,008.8
$965.8
$695.1
$1,145.7
$972.3
$1,100.6
$657.2
5.5%
3.8%
-12.2%
5.8%
34
99
128
210
33
96
128
215
$638.8
$620.9
$470.0
$383.7
$584.6
$620.3
$430.0
$370.1
9.3%
0.1%
9.3%
3.7%
43
119
68
123
40
118
36
117
Top 10 specialty stores
Rank Company
2
Ikea
4
8
9
10
11
12
13
17
20
Estimated furniture, bedding, Percent
change
2011
2010
2010 to 2011
$2,280.0
$2,095.0
8.8%
Williams-Sonoma
$1,480.0
Pier 1 Imports
$956.8
Sleepy’s
$846.0
Mattress Firm
$831.2
La-Z-Boy Furniture
Galleries
$820.0
Crate & Barrel
$717.6
Select Comfort
$713.5
Restoration Hardware $515.0
Sleep Train
$371.8
Number of units
2011
2010
38
37
$1,400.0
$938.6
$765.0
$597.3
5.7%
1.9%
10.6%
39.2%
560
971
809
855
576
967
694
674
$739.6
$717.6
$572.1
$410.0
$313.4
10.9%
0.0%
24.7%
25.6%
18.6%
281
108
381
92
251
278
105
386
104
231
retailers, grew U.S. furniture,
8.8% to $2.28 billion during
a good year for nearly all the
lifestyle specialists on the list.
None posted a sales decrease
and only one — No. 12 Crate
& Barrel — had estimated flat
sales in 2011.
No. 40 Arhaus Furniture
had the greatest percentage
sales increase among retailers
in the subcategory, with sales
growing 26.9% to $165 million.
The Walton Hills, Ohio-based
upper-midpriced to high-end
retailer opened three store last
year and has four more on tap
this year including one in Raleigh, N.C., and one in Edina,
Minn., in greater Minneapolis
— both new markets for the
company.
No. 17 Restoration Hardware was another top lifestyle
performer with sales up 25.6%
to $515 million from a revised
estimate of $410 million in furniture, bedding and accessories
sales in 2010.
The 11 lifestyle specialists
in the Top 100 combined for
a nearly 8% sales increase to
$7.12 billion, while they lost
a combined 25 stores as a result of cutbacks at Restoration
Hardware, No. 4 Williams-Sonoma, No. 22 Cost Plus World
Market and No. 41 Design
Within Reach.
Last year the specialists outperformed their conventional
store counterparts in three other
performance measures — sales
per square foot, stock turns
and gross margin — although
very few specialists reported estimates for the measures. The
median sales per square foot
for specialty retailers was $262
for seven companies reporting
compared with $218 for 35
conventional stores reporting
and $225 for the Top 100 combined.
The specialists also edged
out conventional stores with
median stock turns of 6.5 times
for four companies reporting vs.
6.3 times for 19 conventional
stores. Median gross margin
also was better for the specialists — 56% with four companies
reporting, compared to 47%
for conventional stores with 18
companies reporting.
5/16/2012 1:07:55 PM
32
FURNITURE |TODAY
MAY 21, 2012
Bedding stores wake up to 18% increase
By Clint Engel
HIGH POINT — For a Top 100
subcategory dedicated to sleep,
the bedding specialists never
seem to rest.
After a stumble in 2009 and
a rebound in 2010, retailers in
this specialist subcategory were
at the top of their game again
last year. They are top sales
performers. They are among
the top store-count gainers.
Two of the four newcomers to
the Top 100 are bedding specialists, and the bedding retailers gained another spot among
the Top 10.
The 10 bedding specialists
on this year’s Top 100 combined
for an 18% increase in sales to
$3.5 billion, besting every other
subcategory of the Top 100 —
other specialty stores, conventional retailers, the Top 10 and
the single-source or dedicated
store networks.
Bedding retailers also had
the largest net store count gain
(adding 114 stores) with the
exception of the Top 10, which
added 303 stores. However, 296
of those new stores came from
bedding specialists in the Top
10 — No. 9 Sleepy’s and No. 10
Mattress Firm — so you could
say the bedding specialists were
tops in store-count growth in
the Top 10 as well.
Only one bedding specialist
on the list experienced a sales
decline last year — No. 36
Mattress Giant, which fell by
an estimated 7.2% to $190.3
million. The former retailer
started the year with 360 stores
and ended with 194 stores as
X Overview
from p28
No. 9 Sleepy’s was no slouch
either, growing its store count
by a net 115 units to 809. The
Hicksville, N.Y.-based chain
also acquired some Mattress
Giant stores last year, 67 units
in New England. Sleepy’s net
store growth was not only second best among the Top 10, it
was second best among all Top
100 companies.
There was only a little more
movement in the Top 10. No.
6 Raymour & Flanigan traded
places with No. 7 American
Signature, as Raymour grew
sales 3.8%, breaking $1 billion
for the first time, while Ameri-
FT026-036i36 32
whole chunks were gobbled up
by acquisition-minded Mattress
Firm and Sleepy’s. Earlier this
month, Mattress Firm bought
most of the remaining Mattress
Giant stores, with plans to convert them to the Mattress Firm
name.
Industry analyst Jerry Epperson, managing director of
Richmond, Va.-based Mann,
Armistead & Epperson, said
the dominance of the bedding
specialty category is predictable given the growth of the
wholesale mattress business
compared with overall furniture shipments.
“It only makes sense if
(bedding) manufacturers rebounded more, that it had to
go somewhere,” Epperson said.
“And growth in mattresses last
year was almost four times that
of furniture.”
Consumers, while more
careful than ever in their discretionary spending, continue to
trade up to higher priced bedding with “all the new features
and benefits and new technology,” Epperson said.
Unfortunately, that knack
for innovation is something
the rest of the home furnishings industry largely seems to
lack with the exception of the
power motion category. Epperson recalled watching a movie
the other night from 1953, one
that perhaps illustrates why
bedding retailers seem to be
making more headway than
typical furniture stores. He
couldn’t remember the names
of the actors in the picture, but
he did recognize the furniture
in one of the scenes.
“Every piece … could be
bought at the High Point Market today,” he said.
Instead of more innovation in the furniture category,
the industry seems to be seeing more and more expansion
into the sleep shop category by
companies that used to be pure
conventional retailers, such
as No. 18 Art Van and No. 39
Levin Furniture, moves that
may soon change breakdowns
in the Top 100, though these retailers are currently categorized
as conventional stores.
Sleepy’s, the largest of the
bedding retailers for now, grew
sales 10.6% to $846 million,
while Mattress Firm grew 39.2%
to $831.2 million, the greatest
percentage increase of any Top
100 company. With 181 net
new stores, Houston-based Mattress Firm also had the greatest
net store count gain among the
Top 100.
The two, however, weren’t
the only top bedding retailers on the move. No. 13 Select
Comfort managed a 24.7%
sales increase to $713.5 million, despite trimming its store
count by five units, and No. 20
Sleep Train grew 18.6% t $371.8
million.
No. 25 America’s Mattress
cut its store count by 34 units
to 351 stores, but still increased
sales 10.6% to $275.5 million.
No. 56 Back To Bed/Bedding
Experts/Mattress Barn acquired
the Mattress Barn stores in November, giving the Itasca, Ill.based retailer a total of 120
stores at year end and estimated sales of $100 million.
New to the Top 100 are No.
68 Innovative Mattress Solutions, with estimated sales of
$80 million, and No. 80 American Mattress, an America’s
Mattress dealer based in Elmhurst, Ill., with 82 stores and
estimated sales of $63 million,
up 14.5% from 2010.
can Signature’s sales decreased
12.2% to an estimated $965.8
million — dropping under the
$1 billion mark.
Another standout on this
year’s list is No. 18 Art Van,
which slipped one spot in the
ranking but posted the best percentage gain in store growth.
The Warren, Mich.-based
retailer’s store count nearly
doubled to 68 stores, thanks
in part to the opening of three
more Art Van PureSleep bedding stores, the acquisition of
the 29-store Mattress World of
Howell, Mich., and Art Van’s
first, full-line mall store in Auburn Hills, Mich.
If all goes as planned, Art
Van may be leading the pack
again next year, with plans to
franchise PureSleep nationally
and the full-line Art Van in
smaller Michigan markets.
Just last week, the retailer
also said it will open its first
Ohio store next spring in Toledo, and confirmed that it is
looking at other cities including Chicago and Cincinnati
for further expansion outside
its home state.
Just like last year, there are
four newcomers to the list, including Winfield, W.Va.-based
Innovative Mattress Solutions.
The bedding specialty retailer
— doing business as Sleep Outfitters, Mattress Warehouse and
Mattresses Unlimited — debuts
at No. 68 with estimated sales
of $80 million at 120 stores.
Innovative Mattress, which
operated stores in West Virginia, Ohio, Indiana and
Kentucky, acquired Nashville,
Tenn.-based Mattress Unlimited this past October, boosting
its Louisville, Ky., presence and
giving it entry into Tennessee.
And this April, the retailer
moved into Alabama with the
acquisition of 19-store Mattress
King.
Entering at No. 80 is yet another bedding retailer — American Mattress of Elmhurst, Ill.,
with stores in Chicago and
elsewhere in Illinois, Indiana
and Wisconsin. The Serta and
Tempur-Pedic retailer added a
net four stores and generated
2011 sales of $63 million last
year, up 14.5% from the year
before.
At No. 97, Knoxville, Tenn.based Knoxville Wholesale
Furniture made the Top 100
for the first time on a 9.4%
sales increase to $39.6 million. The four-store retailer,
which operates two Knoxville
Wholesale Furniture stores,
a clearance center and an
Ashley Furniture HomeStore,
more than doubled the size of
its clearance center in 2011
by moving into a 112,000square-foot former Kmart
building, where, among other
things, it added Ashley’s Furnish 123 retail concept to the
space.
The final newcomer is No.
98 Wellsville Carpet Town of
Weston Mills, N.Y. The 10-store
Top bedding specialists
Rank Company
9
Estimated furniture, bedding,
Percent
change
2011
2010
2010 to 2011
Number of units
2011
2010
Sleepy’s
$846.0
$765.0
10.6%
809
694
10
Mattress Firm
$831.2
$597.3
39.2%
855
674
13
Select Comfort
$713.5
$572.1
24.7%
381
386
20
Sleep Train
$371.8
$313.4
18.6%
251
231
25
America’s Mattress
$275.5
$249.0
10.6%
351
385
36
Mattress Giant
$190.3
$205.0
-7.2%
194
360
56
Back To Bed/Bedding Experts/
Mattress Barn
$100.0
NA
NA
120
NA
27
24
62
Sit ‘n Sleep
$90.6
$82.8
68
Innovative Mattress
Solutions
$80.0
NA
NA
120
NA
American Mattress
$63.0
$55.0
14.5%
82
78
80
9.4%
see Overview, p34
5/16/2012 1:07:56 PM
34
FURNITURE |TODAY
MAY 21, 2012
Single-source networks achieve 10% gain
By Clint Engel
HIGH POINT — With just a
couple of exceptions, the single-source store networks on
the Top 100 continued on the
road to recovery last year, posting healthy sales increases even
though most cut back their store
counts.
The seven dedicated stores
networks — the same number
that were on last year’s Top
100 — combined for a 10.9%
sales increase to $5.7 billion,
up from an adjusted $5.14
billion in 2010. The growth
was better than the 6.4%
sales increase for the Top 100,
the 7.4% increase for the Top
10 and the 3.4% increase for
the 75 conventional furniture
store retailers on the list.
Only the 25 specialty retailers on the Top 100, which
combined for an 11.1% sales
Top 100 single-source networks
Growth in sales and units, 2010-2011
Sales
Units
10.9%
-2.6%
Share of total
U.S. furniture
store sales,
2011
13%
The top single-source
networks accounted for 13%
of total sales of furniture, bedding
and accessories in furniture stores in 2011.
Total U.S. furniture store sales from all product categories in
2011 was $48.0 billion; of that, an estimated $42.7 billion
was for furniture, bedding and accessories.
and the U.S. Dept. of Commerce
increase, topped the results
of the dedicated stores this
time. The store networks also
grew their share of furniture,
of all U.S. furniture stores to
13% from 12% the previous
year.
Single-source store networks are the companyowned, licensed or franchised
stores in the Top 100 dedicated to single home furnishings brands and operating
under a single retail banner.
No. 1 Ashley Furniture
HomeStores again led the
dedicated networks — as well
as the entire Top 100 — with
the greatest net volume increase with sales up $292
million to $2.69 billion. No.
13 Select Comfort repeated
as the single-source network
with the greatest percentage
sales gain as volume jumped
24.7% to $713.5 million.
Ashley had the second
best sales increase among the
networks, up 12.2%, followed
by No. 11 La-Z-Boy Furniture
Galleries, which rebounded
with a 10.9% increase to $820
million, from a sales decrease
the year before.
Only two networks posted
sales decreases this year —
No. 26 Bassett Home Furnishings, down 3.5% to $267.9
million; and No. 29 Thomasville Home Furnishings, down
3.2% to an estimated $240
million. In both cases, the declines were less than the year
before and also were less than
Top single-source store networks
Rank Company
1
Ashley Furniture
HomeStores
Percent
change
2011
2010
2010 to 2011
Number of units
2011
2010
$2,686.0
$2,394.0
12.2%
434
422
La-Z-Boy Furniture
Galleries
$820.0
$739.6
10.9%
281
278
13
Select Comfort
$713.5
$572.1
24.7%
381
386
14
Ethan Allen
$695.1
$657.2
5.8%
210
215
25
$275.5
$249.0
10.6%
351
385
26
Bassett Home
Furnishings
$267.9
$277.6
-3.5%
86
99
Thomasville Home
Furnishings Stores
$240.0
$248.0
-3.2%
101
108
11
29
FT026-036i36 34
the percentage drops in their
store counts this past year.
Ashley HomeStores and
La-Z-Boy added stores to
their networks this year, but
it wasn’t enough to overcome the cuts by the other
dedicated store networks.
Combined, the single-source
networks cut 49 stores for a
total of 1,844 units at year
end. That was a bigger cut
than the net 24-store loss for
the networks a year ago.
X Overview
ing eight spots with double-digit
sales increases despite only a
handful of store openings between them. Charlotte, N.C.based Broad River, operating
Ashley Furniture HomeStores
and a Savvy Spaces multi-line
format, was the most active of
the lot on the expansion front,
opening three stores this past
year.
Perhaps another sign of
improving business conditions
is better results in two of three
store performance categories.
Median sales per square foot
for the Top 100 was $225 based
on 42 company estimates. That
ended a multi-year drought in
sales-per-square-foot improvements and easily bested the
$210 median for last year’s Top
100. Indeed, it was the best performance since the $233 median for the Top 100 companies
reporting on the 2009 list.
No. 13 Select Comfort repeated as the sales-per-squarefoot champion, averaging
$1,135. However, No. 50 Gallery Furniture wasn’t far behind
with average sales per square
foot of $1,103. No. 27 Room &
Board had the third best performance in the category ($731)
followed by No. 3 Rooms To Go
($700).
Median stock turns also
edged up based on 23 estimates — jumping to 6.3 times
from 5 times for last year’s Top
100. Broad River was the champion in the category this time,
turning stock an average of 16
times. Select Comfort had the
second best turn rate (13 times)
followed by Phoenix-based The
RoomStore (12.5 times).
Median gross margin held
steady at 47%, with 22 companies reporting. Select Comfort
was tops again with a 63.3%
gross margin, followed by No.
8 Pier 1 Imports at 59.3% and a
La-Z-Boy Furniture Galleries licensee, No. 85 EBCO, at 52.3%.
No. 16 Havertys and Gallery
Furniture also were well above
the median for the performance
category at 51.7% and 50.7%,
respectively.
from p32
promotional to midpriced retailer added two stores this past
year with the acquisition of the
Ashley Furniture HomeStores
in Altoona and Johnstown,
Pa., previously operated by
R.H. Kuhn’s Roomful Express
Furniture.
Pittsburgh, Pa.-based Roomful Express was placed in receivership in December 2010
and subsequently shut down.
It’s one of the four retailers that
fell off the Top 100 this year.
The others were Lack’s of
Victoria, Texas, which filed for
bankruptcy and liquidated;
Fort Myers, Fla.-based Robb &
Stucky, which filed for bankruptcy, closed down, and then
was reincarnated as Robb &
Stucky International; and Pilgrim Furniture City, the Southington, Conn.-based retailer
that was No. 97 on last year’s
Top 100 and just missed the cut
for this year’s list.
Bedding Experts, No. 99 on
last year’s list, is now part of
No. 56 Back To Bed/Bedding
Experts/Mattress Barn. In November, the Itasca, Ill.-based
company’s acquired Mattress
Barn — the retail subsidiary of
manufacturer Advanced Sleep
Concepts — with stores in central Florida and along Florida’s
east coast.
Outside of newcomer Innovative Mattress Solutions, upscale Design Within Reach was
the biggest jumper up the Top
100 ranks, climbing 32 spots
this year to No. 41. The Stamford, Conn.-based contemporary retailer (relocated from
San Francisco) grew furniture,
12.7% to $160 million from a
revised $142 million, despite
a five-store decrease in store
count to 44 units.
Other notable jumpers are
No. 50 Gallery Furniture, No.
60 Crest Furniture, No. 61 The
Spencer Group, No. 78 Broad
River Furniture and No. 86
Walker Furniture — each climb-
5/16/2012 1:07:57 PM
36 FURNITURE |TODAY
MAY 21, 2012
Acquisitions, expansions make news in 2011
By Clint Engel
HIGH POINT — Despite an occasional blowup, Top 100 companies are continuing to pick
up their expansion pace.
Roughly half of the retailers
on this year’s list have opened
new stores this year or plan to
open stores this year or early
next year.
A couple — Ashley Furniture
HomeStores and Crate & Barrel
— are banking on international
expansion in Asia and Canada,
respectively, and a few more
expect to expand their selling
space, though their store count
may stay the same.
The 48 or so stores that say
they will expand their footprint
compares to about 40 retailers who said they would open
new stores this past year. And
indeed, 41 Top 100 companies
managed to grow their store
counts in 2011.
If these new plans hold up,
they will again be diverse — a
mix of new and existing markets for retailers, and in some
cases, new formats with new
partners.
Here are a few of the highlights:
X No. 10 Mattress Firm is
positioning itself to become the
largest bedding specialty retailer on the Top 100. The Houston-based retailer broke into
the Top 10 this year, opened
a net 181 stores including 44
franchised units and 55 former
Mattress Giant stores, growing
sales to an estimated $831.2
million this past year. In April
it announced plans to acquire
the remaining Mattress Giant
locations — about 180 stores in
Florida and Texas, completing
the deal on May 2 — and expects to open another 100 new
stores on top of that.
X No. 9 Sleepy’s remains active, too. The bedding specialist opened a net 115 stores last
year including 67 in New England through the acquisition of
former Mattress Giant stores.
This year it plans to add a net
66 stores. With less than $15
million in sales volume separating Sleepy’s from Mattress
Firm in 2011, Sleepy’s could lose
that No. 1 bedding store ranking to its competitor this year,
although we’ll have to wait and
see how this plays out.
X No. 18 Art Van is branching out and seeking franchise
partners. With five Art Van
PureSleep bedding stores under its belt and PureSleep departments now in its full-line
stores, the Michigan powerhouse announced plans last
year to expand the PureSleep
format nationally through
franchise and licensing agreements. What’s more, it later
announced plans to franchise
the Art Van full-line format
in small markets throughout
Michigan. Late last year, the
retailer let slip that it was considering expansion into the
Chicago market with multiple
How the Top 100 report is compiled
Furniture/Today’s exclusive Top 100 ranks
furniture stores by 2011 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 the stores. A store’s mix may
also include electronics, appliances 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 Top
100 listing with the sales from the freestanding home stores only. Macy’s is ranked on the
Top 100 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 Furniture Factory Outlet, but
not primarily sell furniture that is rented or
has been previously owned. Furniture/Today
will include retailers who 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 Berkshire Hathaway,
which operates Nebraska Furniture Mart, Star
Furniture, R.C. Willey, Jordan’s and Homemakers, and American Signature, which operates
Value City Furniture and American Signature
Furniture.
Single-source networks such as Ethan Allen
and Thomasville are also included with the
FT026-036i36 36
sales for the manufacturers’ dedicated store
networks’ dedicated stores only and not from
in-store galleries.
All sales figures are Furniture/Today estimates, unless these figures are reported
specifically to the Securities and Exchange
Commission. 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.
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 Broad River Furniture, which operates Ashley Furniture HomeStores, and EBCO, which
operates La-Z-Boy Furniture Galleries.
For conventional and specialty store breakouts, among conventional retailers that also
own bedding stores, the bedding sales and
store counts are included with the conventional stores data. For example, sales and
store count for Mattress Discounters is reported
with RoomStore which acquired the bedding
retailer in 2008.
Year-to-year comparisons are made to the
same group of Top 100 companies ranked in
both years. Sales and store counts were assumed flat for those retailers where 2010 data
was not available when comparing total 2011
and 2010 data for the Top 100.
In cases of stores with identical 2011 sales,
the company with the faster sales growth earns
the higher rank.
stores, and finally this month,
it said it will open an Art Van
store in Toledo, Ohio.
X Also in the Detroit area,
No. 59 Gardner-White has big
plans. Late last year, the sevenstore, Warren, Mich.-based retailer purchased a facility in
Auburn Hills, Mich., for what
will be a 300,000-square-foot
home office, distribution center
and 75,000-square-foot retail
outlet.
X No. 20 Sleep Train was
another bedding specialist on
the go last year and promising
more growth this year. The Citrus Heights, Calif.-based company, operating as Sleep Train,
Mattress Discounters and Sleep
Country USA, grew organically
in addition to acquiring stores
from three other bedding
chains last year — Christians
Mattress Xpress, Mattress Outlet and America’s Mattress.
Now it’s eyeing expansion of
its Mattress Discounters brand
in Portland, Ore., planning to
open up to 18 stores over the
next year or two.
X Publicly held Havertys will
kick expansion into a higher
gear this year. The Atlantabased retailer, No. 16 on the Top
100, plans to open two stores in
new markets in Midland, Texas,
and the Towson area of metro
Baltimore in the second half.
It also plans to fill out its existing Dallas market with a store
in Allen, Texas, and relocate a
metro Atlanta store.
X No. 30 RoomStore
swooned, but other Top 100
companies rushed in to save a
few stores. The Richmond, Va.based retailer filed for Chapter
11 bankruptcy protection in December and has since dramatically pared back its full-line
RoomStore business, exiting Alabama, Pennsylvania, Florida
and, most recently, Texas. But
at least in Texas, some of these
stores are winding up in the
hands of other Top 100 retailers. No. 61 The Spencer Group
acquired the lease on RoomStore’s former Tyler store for an
Ashley Furniture HomeStore it’s
opening this month, and No. 3
Rooms To Go paid for rights to
10 Texas leases, including eight
in greater Dallas.
X No. 11 La-Z-Boy Furniture
Galleries appears set to return
to expansion mode this year
after six years of modest store
count declines. The manufacturer’s dedicated store network
of dealer-owned and companyowned stores expects to grow by
net four to nine showrooms this
year for a total of 285 to 290
U.S. stores by year end.
X With two years of backto-back double-digit sales
increases, No. 40 Arhaus Furniture has been climbing the
Top 100 ranks and is primed to
do the same this year, too. The
upscale Walton Hills, Ohiobased retailer plans four new
stores including two in new
markets, one already opened
in Raleigh, N.C., and another
in greater Minneapolis/St. Paul
this fall. That’s on top of three
stores opened last year in North
Bethesda, Md., Manhattan and
Atlanta. If all goes as planned,
Arhaus should end the year
with 43 showrooms.
X No. 42 El Dorado Furniture is taking its popular Boulevard store format to the Florida
Gulf Coast, with plans to open
a 70,000-square-foot showroom
— part of a 179,000-square-foot
shopping plaza — in Fort Myers
in the second quarter of 2013.
In the meantime it is adding
35,000 square feet to its Pembroke Pines, Fla., store this year,
boosting the total size there to
145,000 square feet.
X No. 68 Innovative Mattress Solutions is a newcomer
to the Top 100, but with 120
stores and estimated sales of
$80 million, it’s likely to be
sticking around. Earlier this
year, the Winfield, W.Va.-based
company pushed into Alabama
with the acquisition of 19-store
Mattress King.
X No. 70 Morris Furniture of
Dayton, Ohio is planning only
one new retail facility this year,
but it’s a big one — a 100,000square-foot Morris Home Center with five store formats in
Florence, Ky., in the Cincinnati
area.
Bankruptcies continued to
have an impact on the Top 100
this past year, claiming Lack’s
of Victoria, Texas, Roomful Express Furniture in Pittsburgh
and Robb & Stucky.
But in each case, some of
these stores have been picked up
by Top 100 and other retailers.
Some Robb & Stucky stores, for
instance, have gone to the new
Robb & Stucky International in
Fort Myers, Fla., Clive Daniel
Home in Naples, Fla., Bacon’s
Furniture & Design in Sarasota,
Fla., and Stacy Furniture and
Design in Plano, Texas.
5/16/2012 1:07:57 PM
38
FURNITURE |TODAY
MAY 21, 2012
Furniture/Today’s 2012 Exclusive Survey
of Top 100 U.S. Furniture Stores
Rank
(last year) Company, home base and notes
2011
2010
1
Ashley Furniture HomeStores $2,686.0
(1)
Arcadia, Wis.
$2,394.0
Percent
change
2010 to 2011
12.2%
Number
of units
2011
2010
434
422
Selling space
all stores
sq. ft. 1000s
NA
Furniture, bedding, accessories
percent of
average sales
selling space
per sq. ft.
100%
NA
$2,715.0 total revenues
Manufacturer’s dedicated store network of licensed and company-owned promotional to midpriced stores throughout the United States and other world markets. Sales and store counts for U.S.
only. Figures exclude those from the Furnish 123 stores, a separate concept licensed by Ashley. Sales from other merchandise areas, about $29 million. In November 2011, opened the first of at
least two licensee-operated stores to open in Vietnam, in Hanoi. The second store is planned for Ho Chi Minh City in mid-2012. Has a social media presence through Facebook, Twitter, Pinterest, YouTube and Flickr. Ashley HomeStore owners on the Top 100 are City Furniture, Hill Country Holdings, Furniture Mart USA, Regency Furniture, Crest Furniture, The Spencer Group, Jennifer Convertibles, Morris Furniture, Sam Levitz Furniture, Broad River Furniture, C.S. Wo & Sons, Turner Furniture Holding Corp., KHF Holdings, Knoxville Wholesale Furniture and Wellsville
Carpet Town.
2
Ikea
(2)
Conshohocken, Pa.
$2,280.0
$2,095.0
8.8%
38
37
NA
NA
NA
Fiscal years end Aug. 31. Founded in 1943, the Sweden-based specialist with a large ready-to-assemble furniture business has some 335 stores in 40 countries. Operates 38 stores in the United
States — eight in California; three each in Florida, Pennsylvania and Texas; two each in Illinois, Maryland, New Jersey, and New York; and one each in Arizona, Colorado, Connecticut, Georgia,
Massachusetts, Michigan, Minnesota, North Carolina, Ohio, Oregon, Utah, Virginia and Washington. Phone-order sales from a Baltimore call center and online sales are included. Late July 2011,
opened its first store in Colorado, a 415,000-square-foot Denver-area store in Centennial. Has rolled out Ikea Family, a customer loyalty program in all its U.S. stores, offering consumers discounts
and other perks after they sign up. Plans to expand its store in the Austin, Texas, area in Round Rock, by 54,000 square feet, making more room for its self-service furniture area and adding a
three-level parking garage. The project is expected to be completed by summer. Is in the process of installing solar panels atop 85% of its U.S. locations. Has a social media presence through Facebook and Twitter.
3
Rooms To Go
(3)
Seffner, Fla.
$1,500.0
$1,410.0
6.4%
125
123
NA
100%
$700
Privately owned, midpriced chain with stores in Florida, Georgia, the Carolinas, Louisiana, Mississippi, Tennessee, Texas and Alabama as well as three franchise units in Puerto Rico. Operations
include Rooms To Go, Rooms To Go Kids & Teens and clearance centers. Also sells online. In March 2011, opened showrooms in Corpus Christi and Midland, Texas, in former Lack’s Stores locations, and in June, opened a 30,000-square-foot showroom in Destin, Fla. Also closed a unit in Atlanta last year. In January of this year, opened showrooms in Lafayette, La.; Lubbock, Texas; and
Asheville, N.C. In April, RTG agreed to pay for 10 Texas stores being shuttered by bankrupt RoomStore of Richmond, Va. Eight of the stores are in the greater Dallas market and the others are in
Waco and Temple, Texas. Other plans for 2012 include adding 300,000 square feet to the Houston distribution center.
4
Williams-Sonoma
(4)
San Francisco
$1,480.0
$1,400.0
5.7%
560
576
NA
NA
NA
Fiscal years ended Jan. 29 and Jan. 30. Publicly held, multi-channel specialty retailer of high-quality products for the home through Pottery Barn, Pottery Barn Kids, PBteen, West Elm, WilliamsSonoma and Rejuvenation. Operates 576 stores in 44 states, Washington, D.C., Canada and Puerto Rico as well as e-commerce websites available to customers in more than 75 countries, and
direct-mail catalogs available to consumers throughout the U.S. Also operates 13 stores in the Middle East through a franchise agreement. Sales and store counts for U.S. only, excluding the 16
stores in Canada as well as revenues related to its foreign operations. 2010 sales revised. In 2011, launched its global e-commerce to more than 75 countries, completed the transition to its new
upholstered furniture manufacturing and furniture delivery operations in Claremont, N.C., and acquired Portland, Ore.-based Rejuvenation, a manufacturer and multi-channel retailer of lighting
and high-end door and cabinet hardware. The company also opened its first pop-up stores last year — West Elm in the D.C. area and PBteen in the Boston area. The pop-up stores are temporary,
opened for a limited time only. For 2012, plans to expand its global e-commerce shipping capabilities to 99 countries and its franchise presence in the Middle East to 18 stores. Has a social media
presence through Facebook, Twitter, Pinterest, YouTube and Google +.
5
(5)
Berkshire Hathaway
furniture division
Omaha, Neb.
$1,208.2
$1,145.7
5.5%
34
33
NA
NA
NA
Owns Nebraska Furniture Mart, R.C. Willey, Star Furniture and Jordan’s Furniture. NFM operates a 475,000-square-foot complex in Omaha, with a main furniture showroom, a Mrs. B’s Clearance
and Factory Outlet store and an Appliance, Electronics and Computer Store. NFM also operates a 450,000-square-foot store in Kansas City, Kan., a 30,000-square-foot store specializing in flooring, appliances and electronics in Clive, Iowa, and a Homemakers Furniture in Des Moines, Iowa. 2010 store count revised to include the store in Clive. R.C. Willey operates 13 stores, eight in
northern Utah, including two clearance centers, three in Nevada and one each in Idaho and California. Star operates 12 stores in Houston, Austin, San Antonio and Bryan/College Station, Texas,
including two clearance centers in Houston and a Thomasville Home Furnishings Store. Jordan’s operates five Boston-area stores in Avon, Reading and Natick, Mass.; Nashua, N.H.; and Warwick,
R.I. Revenues from other merchandise area, $748.6 million. Revenues other than sales, $70.9 million. In 2011, NFM completed a home office, entertainment and dining room remodeling project
at its Omaha store and Star relocated a showroom in the greater Houston area. Jordan’s opened its fifth store and its first in Rhode Island, in Warwick. The 115,000-square-foot showroom opened
in December. NFM recently announced its plan for a store in The Colony, a north Dallas suburb. The 546,000-square-foot showroom is scheduled to open in 2015. Retailers have a social media
presence through Facebook, Twitter, YouTube and Pinterest.
6
Raymour & Flanigan
(7)
Liverpool, N.Y.
$1,008.8
$972.3
3.8%
99
96
NA
100%
NA
Midpriced Northeastern chain with stores in New York, Massachusetts, Pennsylvania, New Jersey, Connecticut, Rhode Island and Delaware, including 11 Clearance Centers. Also accepts orders over
the Internet. Showrooms range in size from 15,000 to 75,000 square feet. In 2011, opened showrooms in Patchogue and White Plains, N.Y.; and a Clearance Center in Manchester, Conn. Plans to
open three stores in 2012, including the showroom opened earlier this year in Long Island City, N.Y. Has a social media presence through Facebook, Twitter, Pinterest, Google + and YouTube.
Notes: X All sales information, except for that supplied by publicly held companies that break out furniture sales, are Furniture/Today market research estimates. X In cases where companies have identical sales of furniture, bedding and accessories, the
one with the fastest sales growth is ranked first. X In the notes, stock turns and average gross margin are for furniture, bedding and decorative accessories, including lamps and area rugs. X Estimated sales for manufacturer gallery store networks reflect
NR = Not ranked
NA = Not available/not applicable
their dedicated-store sales only and exclude sales from in-store galleries. X All data for calendar 2011 and 2010 unless otherwise noted. Average unit size in notes refers to selling space.
FT038-064i36 38
5/16/2012 10:18:17 AM
40
FURNITURE |TODAY
MAY 21, 2012
Rank
7
American Signature
(6)
Columbus, Ohio
2011
2010
$965.8
$1,100.6
Percent
change
2010 to 2011
Number
of units
2011
2010
-12.2%
128
128
Selling space
all stores
sq. ft. 1000s
NA
percent of
average sales
selling space
per sq. ft.
100%
NA
Fiscal years ended July 30 and July 31. Owned by Schottenstein Stores Corp. Not affiliated with Dayton, N.J.-based Crest Furniture (No. 60). Operates 128 stores in 19 states and 45 markets
primarily in the Midwest and East Coast. The stores operate under the names Value City Furniture, the company’s promotional to midpriced brand and American Signature, the company’s midpriced to high-end brand. Owns the factories where the majority of its merchandise is made. Has a social media presence through Facebook and Twitter.
8
Pier 1 Imports
$956.8
(8)
Fort Worth, Texas
$938.6
1.9%
971
967
7,634
NA
$183
Fiscal years ended Feb. 25 and Feb. 26. Founded in 1962. Publicly held specialist of imported midpriced decorative home furnishings, gifts and related items throughout North America. Sales
and store counts for U.S. only. Sales from other merchandise areas, $436.2 million. Revenues other than merchandise sales, $3.8 million. Units average 7,900 square feet and sell a wide variety of
furniture, decorative home furnishings, dining and kitchen goods, candles, gifts and other specialty items for the home. Furniture accounted for about 32% of sales in 2011. Average stock turns,
1.9 times. Average gross margin, 59.3%. Pier 1 is continuing to evolve into a multi-channel retailer with plans to launch Pier 1 To-You in late July 2012. The company first launched a site-to-store
initiative called Pier1.2Go last June. During the next three years, Pier 1 will continue improving its stores through new store openings, store remodels, new merchandise fixtures and lighting upgrades. In 2012, will fully remodel six to eight locations, refurbish about 100 existing stores and integrate new merchandise fixture elements into all stores. Has a social media presence through
Facebook and Twitter.
9
Sleepy’s
(9)
Hicksville, N.Y.
$846.0
$765.0
10.6%
809
694
3,800
100%
$223
Privately owned bedding specialty chain in the Northeast and Mid-Atlantic states of Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina,
Pennsylvania, Rhode Island, Vermont, Virginia and West Virginia. Sales include revenues from 1800mattress.com and sleepys.com, and from its toll-free telemarketing division. Units average
5,000 square feet and carry more than a dozen major brands. In 2011, netted 115 new stores, including 67 stores in New England acquired in December from No. 36 Mattress Giant. Plans to end
2012 with 875 units. Has a social media presence through Facebook, Twitter, YouTube and a company blog.
10
Mattress Firm
(14)
Houston
$831.2
$597.3
39.2%
855
674
NA
100%
NA
Fiscal years ended Jan. 31 and Feb. 1. Completed an initial public offering in Nov. 2011, but remains majority owned by J.W. Childs, a Boston-based private equity firm, and senior management.
Bedding specialty chain with 126 franchised stores and 729 company-owned units in 27 states. Also sells online. Stores operate under two formats — a smaller 4,000-square-foot unit and a larger
7,000-square-foot Supercenter that includes a clearance center. Both formats carry a full line of mattresses including Sealy, Serta, Simmons, Stearns & Foster, Tempur-Pedic and YuMe, as well as a
private-label line, Hampton & Rhodes. Netted 181 stores in 2011 including 44 franchised stores and the acquisition of 55 Mattress Giant stores in Atlanta, St. Louis, and Minneapolis in November. The Mattress Giant stores will be re-branded as Mattress Firm during 2012. In April, announced its plan to acquire the remaining assets of Mattress Giant, which includes about 180 stores in
Florida and Texas. They too will be re-branded as Mattress Firm and merchandised with Mattress Firm’s product offerings. Completed the deal on May 2. The retailer also expects to open about
100 new stores this year. Has a social media presence through Facebook, Twitter and a company blog.
11
La-Z-Boy Furniture Galleries
(10)
Monroe, Mich.
$820.0
$739.6
10.9%
281
278
4,133
100%
$200
Manufacturer’s dedicated store network of dealer-owned and company-owned units. Figures exclude revenues from the 28 La-Z-Boy Furniture Galleries in Canada. Units average 14,708 square
feet. Average stock turns, 5 times. Same-store sales increased 10.7%. In 2011, opened Galleries in San Antonio and Austin, Texas; Grand Junction, Colo.; Attleboro, Mass.; Groton, Conn.; McDonough, Ga.; and Fleming Island, Fla. Also, closed four showrooms. Introduced a new concept store with the Attleboro opening. The company’s new look is primarily an interior update to the
New Generation format the company rolled out about 10 years ago. Furniture is now displayed largely by lifestyle, leaving only recliners as a category display. Plans to end 2012 with 285 to 290
U.S. stores. Has a social media presence through Facebook, Twitter and YouTube. La-Z-Boy store owner on the Top 100 is EBCO.
12
Crate & Barrel
$717.6
(11)
Northbrook, Ill.
$717.6
0.0%
108
105
NA
NA
NA
Fiscal years ended Jan. 29 and Jan. 30. Founded in 1962. Owned by Otto Group, a privately held German retailer. Lifestyle multi-channel specialty retailer operating Crate & Barrel, CB2 and
The Land of Nod. Crate & Barrel offers midpriced to high-end furniture as well as housewares and home accessories throughout the U.S. and Canada. CB2, Crate & Barrel’s “affordable modern”
concept store, for apartment, loft and home, has stores in California, Florida, Georgia, Illinois, Minnesota, New York, District of Columbia and Canada. The Land of Nod offers children’s home
furnishings in Illinois and Washington. The company also operates two franchised Crate & Barrel stores in the United Arab Emirates in Dubai. Sales and store counts for U.S. only. Sales from
other merchandise areas, about $582.4 million. Expanded into Canada with its CB2 store earlier this year in Toronto and Vancouver. President and CEO Barbara Turf, who retired this spring, is
succeeded by company executives Sascha Bopp as CEO and Marta Calle as president. Crate & Barrel will celebrate its 50th anniversary in 2012. Has a social media presence through Facebook,
Twitter, Pinterest and a company blog.
NR = Not ranked
FT038-064i36 40
5/16/2012 4:35:48 PM
42
FURNITURE |TODAY
MAY 21, 2012
Rank
13
Select Comfort
(16)
Minneapolis
2011
2010
$713.5
$572.1
Percent
change
2010 to 2011
Number
of units
2011
2010
24.7%
381
386
Selling space
all stores
sq. ft. 1000s
610
percent of
average sales
selling space
per sq. ft.
100%
$1,135
$741.7 total revenues
Publicly held, vertically integrated maker of the Sleep Number bed, a premium quality, adjustable-firmness mattress, and other sleep-related products. Founded in 1987. Select Comfort is a
multi-channel business marketing its products through company-owned stores, direct marketing operations and e-commerce. E-commerce and direct marketing call center accounted for
about 9% of total sales. Its wholesale channel, which sells to the QVC shopping channel and wholesale customers in Alaska, Hawaii and Australia, is not included in the results. Sales and
store count for U.S. only. Units average 1,526 square feet. Average stock turns, 13 times. Average gross margin, 63.3%. Comp store sales increased 26%. In 2011, introduced its first ever pillow
that adjusts to an individual’s size, shape and sleeping position, the AirFit Pillow. Shelly Ibach, the company’s chief operating officer, will succeed Bill McLaughlin as president and CEO when
he retires June 1 of this year. Select Comfort expects to end the year with between 400 and 410 locations. Has a social media presence through Facebook, Twitter and YouTube.
14
Ethan Allen
(12)
Danbury, Conn.
$695.1
$657.2
5.8%
210
215
3,360
NA
NA
Oldest manufacturer’s dedicated store network, with 142 company-owned and 68 dealer-owned design centers offering home furnishings and accessories grouped into five distinct product
lifestyles: Elegance, Modern, Romance, Explorer and Vintage. Also sells its full range of furniture products and decorative accessories over the Internet. Sales and store count for U.S. only. Sales
from other merchandise areas, $32.5 million. Revenues other than sales, $10.3 million. Design centers average 16,000 square feet and range in size from 3,000 square feet to 35,000 square feet.
Launched a major product program focused on its five signature lifestyles in September, with other new products rolling out from January to June of 2012. Has a social media presence through
Facebook and YouTube.
15
Bob’s Discount Furniture
(15)
Manchester, Conn.
$638.8
$584.6
9.3%
43
40
NA
100%
NA
Privately owned, promotional to midpriced chain operating stores in New England, New Jersey, New York, Maryland and Virginia. Also sells online. Entered the metro Washington, D.C., market last
year opening stores in Falls Church, Va., Hyattsville, Md., and Rockville, Md. Will open one store in the fourth quarter of this year. Has a social media presence through Facebook, Twitter and YouTube.
16
Havertys
(13)
Atlanta
$620.9
$620.3
0.1%
119
118
4,246
100%
$148
Publicly held, midpriced to upper-midpriced chain operating 119 stores in 17 states in the Southern and Midwestern regions. Also accepts orders over the Internet. Credit income, $460,000.
Stores average 35,680 square feet of selling space. Major lines include Havertys Collections, Sealy, Serta and Tempur-Pedic. Average gross margin, 51.7%. Same-store sales increased 0.3%. In 2011,
relocated stores in Austin, Texas, and Asheville, N.C., and opened in a new market in a former Carls Furniture store in Boca Raton, Fla. Plans for the second half of 2012 include opening two
stores in new markets in Midland, Texas, and in the Towson area of metro Baltimore; opening one store in an existing market in the Dallas area in Allen, Texas; and relocating one store in metro
Atlanta. Will continue through early 2013 with Bright Inspirations, a company-wide remodeling and merchandising program the retailer began in late 2010. Has a social media presence through
Facebook, Twitter and YouTube.
17
Restoration Hardware
(25)
Corte Madera, Calif.
$515.0
$410.0
25.6%
92
104
NA
NA
NA
Luxury brand in the home furnishings marketplace, offering product assortments across a number of categories, including furniture, lighting, textiles, bathware, decor, outdoor and garden, as
well as baby and child products. Restoration Hardware operates an integrated business across multiple channels of distribution including galleries, catalogs and websites. Sales and store counts
based on 12-months ending July 30, 2011 and excludes the stores in Canada. 2010 sales revised. In 2011, RH developed its full line Design Gallery format, offering approximately three times the
selling square footage of its average Gallery store. Opened its first Design Gallery in Los Angeles in June and its second one in Houston in November. Has signed leases for a number of Design
Galleries to open over the next few years and will also look to expand select existing Galleries to the new format. Began a number of initiatives to its product offerings in late 2011, including
furniture where it is broadening the assortments in upholstery, dining and occasional, and in baby and child products, where the retailer is expanding assortments in furniture and decor. Restoration Hardware filed to go public last year.
18
Art Van
(17)
Warren, Mich.
$470.0
$430.0
9.3%
68
36
NA
100%
NA
Family-owned, midpriced to high-end retailer operating 34 Art Van Furniture stores, including one Art Van Rooms, and five Art Van PureSleep stores in Michigan, and 29 Mattress World stores in Michigan and Indiana. Also sells online. In 2011, opened its first mall store at Great Lakes Crossing Outlets in Auburn Hills, Mich.; reopened the former
Brewbaker’s in Petoskey and Onaway, Mich., as Art Van full-line stores; opened three PureSleep stores in Ann Arbor, Troy and Brighton, Mich.; and acquired 29-store Mattress
World of Howell, Mich. Also converted the Clearance Center in Bloomfield Hills to Art Van Rooms in June. The company has announced plans to franchise its full-line Art Van
store format in small markets throughout Michigan and expand its PureSleep chain nationally through franchise and licensing agreements in both freestanding and in-store
formats. Art Van is also looking at expanding its full-line and mattress only stores throughout the Chicago market. Has a social media presence through Facebook and Twitter.
NR = Not ranked
FT038-064i36 42
5/17/2012 10:15:55 AM
44
FURNITURE |TODAY
MAY 21, 2012
Rank
19
(18)
Slumberland
2011
2010
$383.7
$370.1
Percent
change
2010 to 2011
3.7%
Number
of units
2011
2010
123
117
Selling space
all stores
sq. ft. 1000s
NA
percent of
average sales
selling space
per sq. ft.
100%
NA
Little Canada, Minn.
Family-owned, midpriced retailer with 40 corporate stores and 83 franchised stores in Minnesota, Wisconsin, Illinois, Iowa, Kansas, Nebraska, Michigan, Missouri, Montana, North Dakota, South
Dakota and Wyoming. Operations include five corporate clearance centers, two corporate outlet stores and one franchise clearance center. Also accepts orders over the Internet. In 2011, entered
a new state — Wyoming, with a franchise store in Casper. Has a social media presence through Facebook, Twitter, YouTube, Pinterest and a company blog.
20
Sleep Train
(22)
Citrus Heights, Calif.
$371.8
$313.4
18.6%
251
231
NA
100%
NA
Promotional to high-end bedding specialist operating in California, Oregon, Washington, western Nevada and western Idaho as Sleep Train, Mattress Discounters and Sleep Country USA. Moved
into new markets towards the end of last year through three acquisitions, including expanding the Mattress Discounters brand into Seattle and Portland to complement its Sleep Country USA
brand in those markets. Acquired three units from Christians Mattress Xpress in the Fresno-Visalia, Calif., market, converting those to Sleep Train in October; 14 units from Mattress Outlet in
eastern Washington and western Idaho, converting those to Sleep Country USA in December; and seven units from America’s Mattress in Seattle, converting those to either Sleep Country USA
or Mattress Discounters in December. Opened another five units through organic growth in existing markets and closed nine. Is looking to further expand the Mattress Discounters brand in the
Portland, Ore., area, opening 15 to 18 more stores over the next year or two. Has a social media presence through Facebook, Twitter and YouTube.
21
Mathis Brothers
(20)
Oklahoma City
$344.7
$320.7
7.5%
8
8
663
100%
$520
Family-owned, in business since 1960. Promotional to high-end retailer operating Mathis Brothers, promotional Factory Direct Furniture & Beds, Rooms Today and Mathis Village, with Thomasville, Drexel Heritage and a Sleep Studio, in Oklahoma City; a Mathis Brothers and Rooms Today in Tulsa, Okla.; and Mathis Brothers in Indio and Ontario, Calif. Also sells online. Has an ownership stake in the Factory Direct bedding factory; revenues not included. Sales from electronics, $4.3 million. Has a social media presence through Facebook, Twitter and YouTube.
22
Cost Plus World Market
(23)
Oakland, Calif.
$332.0
$310.0
7.1%
258
263
NA
NA
NA
Fiscal years ended Jan. 28 and Jan. 29. Publicly held specialist in casual home furnishings and entertaining products. At year’s end, operated 258 stores in 30 states under the names World Market
and Cost Plus World Market. Also sells online. The stores, averaging 15,700 square feet of selling space, have products imported from more than 50 countries and often hand-made by local artisans.
Furniture products include ready-to-assemble living and dining room pieces; sofas, chairs; case goods and occasional pieces; as well as outdoor furniture made from a variety of materials. In 2011,
relocated the Stockton store in Oakland, Calif., and closed five others. Home furnishings as a percent of the company’s total sales increased one percentage point and the average ticket increased
1.3%, the first annual increase since 2007, primarily due to the strong performance in the furniture business. Plans to open five to 10 new stores, including two relocations in 2012. Union, N.J.based Bed Bath & Beyond announced earlier this month that it will acquire Cost Plus. Has a social media presence through Facebook, Twitter, Pinterest, YouTube and Google +.
23
(24)
American Furniture
Warehouse
Englewood, Colo.
$323.0
$300.0
7.7%
12
11
1,400
97%
$234
Family-owned, founded in 1975. Primarily promotional to midpriced chain operating 12 Colorado units — six in metro Denver and one each in Glenwood Springs, Firestone-Longmont, Fort
Collins, Grand Junction, Pueblo and Colorado Springs. Also accepts orders over the Internet with approximately 1.75% of total sales from online. Sales from other merchandise areas, $3 million. Revenues other than sales, $1 million. Units average 120,000 square feet. Average stock turns, 8.5 times. Average gross margin, 38%. Key vendors are Affordable, Ashley, Healthcare, Jackson,
Lane, Sealy, Serta, Simmons, Standard and Trendwood. In 2011, installed 10,000-square-foot Lane Furniture Galleries in all locations. In November, opened a 100,000-square-foot showroom with
attached 50,000-square-foot warehouse in Grand Junction. Has a social media presence through Facebook, Twitter, MySpace, YouTube and a company blog.
24
(21)
Badcock Home
Furniture & more
Mulberry, Fla.
$304.9
$314.9
-3.2%
315
315
NA
NA
$70
Fiscal years ended June 30. Family-owned, in business since 1904. Southeastern chain of promotional to midpriced, credit-oriented stores, both company-owned and dealer-owned, operating primarily as Badcock Home Furniture & more. A few still operate under the older format, Badcock Home Furnishings Centers. Has two rent-to-own Home Now stores in Largo and Tampa, Fla. Also
accepts orders over the Internet. Showrooms offer carpeting, electronics and appliances as well. Has a social media presence through Facebook, Twitter and YouTube.
25
(28)
Hoffman Estates, Ill.
$275.5
$249.0
10.6%
351
385
NA
100%
NA
Largest network of independently owned, dealer-operated sleep shops in the United States, the majority of which operate under the America’s Mattress name. The America’s Mattress program
combines the brand strength and buying power of a national network with local ownership. It provides dealers with site selection assistance, construction specifications, grand opening, marketing, training, operations and business management support. Comp store sales were up 13.8%. Had a net loss of 34 stores in 2011, primarily because of multiple business sales outside the network,
including 14 Mattress Outlet stores in eastern Washington and western Idaho and seven America’s Mattress units in Seattle to Sleep Country USA, a unit of No. 20 Sleep Train. America’s Mattress
dealer on the Top 100 is American Mattress.
26
Bassett Home Furnishings
(27)
Bassett, Va.
$267.9
$277.6
-3.5%
86
99
NA
100%
NA
Fiscal years ended Nov. 26 and Nov. 27. Manufacturer’s dedicated store network of 39 licensee-owned stores and 49 company-owned midpriced stores in the United States and Canada at fiscal
year end. Sales and store counts for U.S. only. Also accepts orders over the Internet. In December 2010, opened a new company-owned store in Torrance, Calif., the company’s first store opening
since April of 2010. Has plans to open two more stores by the end of this year in Paramus, N.J., and Dallas. Also in 2012, will begin to market a line of HGTV-branded custom upholstery and accent furniture in its BHF network. Has a social media presence through Facebook, Twitter, LinkedIn, Pinterest and YouTube.
27
Room & Board
(31)
Minneapolis
$263.0
$227.0
15.9%
12
12
360
100%
$731
Midpriced, classic contemporary specialty chain with two stores in Minneapolis/St. Paul (one of which is an outlet store open only on weekends); three in the Chicago area; and one each in Denver; New York; Atlanta; San Francisco, Culver City and Santa Ana, Calif.; and Washington, D.C. Sales include their Shop from Home phone-order channel and website. Same-store sales increased
13%. This fall, will open a 27,500-square-foot store in Seattle at University Village. Has a social media presence through Facebook and Twitter.
28
Haynes Furniture
(26)
Virginia Beach, Va.
$262.0
$285.0
-8.1%
15
15
NA
NA
NA
Privately owned, promotional to midpriced chain operating five Haynes and 10 The Dump stores selling overstocked items, factory closeouts, one-of-a-kinds, and showroom models, Fridays
through Sundays only. Operations include two Haynes showrooms in Richmond, one Haynes each in Virginia Beach and Newport News, and one small Haynes store in Kitty Hawk, N.C. The
Dump stores are located in Hampton, Norfolk and Richmond, Va.; Langhorne and Oaks, Pa.; Turnersville, N.J.; Dallas; Houston; Atlanta; and Tempe, Ariz. Floor coverings and credit income,
about $23 million. Has a social media presence through Facebook and Twitter.
NR = Not ranked
FT038-064i36 44
5/17/2012 10:15:58 AM
46
FURNITURE |TODAY
MAY 21, 2012
Rank
29
Thomasville Home
Furnishings Stores
(29)
Thomasville, N.C.
2011
2010
$240.0
$248.0
Percent
change
2010 to 2011
-3.2%
Number
of units
2011
2010
101
108
Selling space
all stores
sq. ft. 1000s
NA
percent of
average sales
selling space
per sq. ft.
100%
NA
Owned by Furniture Brands International. Manufacturer’s dedicated store network of 62 dealer-owned and 48 company-owned midpriced to high-end stores. Sales and store counts for U.S. and
Puerto Rico only. Accepts orders over the Internet in company-store markets. In 2011, opened its first company-owned stores in more than two years — in Dallas in April; in Lincoln Park, Ill.,
in the Chicagoland area, in May; and in the western suburbs of Chicago in Oak Brook, Ill., during the summer. Has a social media presence through Facebook, Twitter, Pinterest and Google +.
Thomasville store owners on the Top 100 are Berkshire Hathaway’s Star Furniture and Mathis Brothers.
30
RoomStore
(19)
Richmond, Va.
$240.0
$323.4
-25.8%
145
145
NA
100%
NA
Fiscal years ended Feb. 29 and Feb. 28. Publicly held home furnishings retailer currently operating 28 midpriced RoomStores in Maryland, including a clearance center, Virginia, and the Carolinas and 83 promotional to high-end Mattress Discounters in Maryland; Richmond, Virginia; northern Virginia; Washington, D.C.; and Delaware. RoomStore is not affiliated with Phoenix-based
The RoomStore (No. 73). Steve Giordano, former CEO at The RoomPlace, was named CEO and a board member in November, replacing Curtis Kimbrell, who retired. RoomStore filed for Chapter
11 bankruptcy protection on Dec. 12, with plans to reorganize around a smaller, geographically concentrated core of stores. The company has exited Alabama, Pennsylvania, Florida and Texas,
closing some 24 underperforming stores and selling the 10 remaining stores in Texas to No. 3 Rooms To Go. Mattress Discounters is not included in the bankruptcy proceedings. Has a social
media presence through Facebook, Twitter and YouTube.
31
Mor Furniture for Less
(30)
San Diego
$238.4
$230.9
3.3%
21
20
NA
100%
NA
Fiscal years ended Sept. 28 and Sept. 29. Owned and operated by Rick Haux Jr. At fiscal year end, operated six stores in the San Diego area; five stores in Phoenix; three stores in Portland, Ore.; and one store each in Fresno and Bakersfield, Calif.; Seattle and Spokane, Wash.; Boise, Idaho; Albuquerque, N.M.; and Reno, Nev. Also sells online. In May 2011, opened a
new showroom in the San Diego area in National City, Calif. In November, opened its 22nd store and first in the Tri-Cities area of Washington, in Richland. In March 2012, the retailer
opened two more stores, one in Rancho Cucamonga, Calif., and one in the northern Seattle suburb of Lynnwood. Has a social media presence through Facebook, Twitter, Google +, and
a company blog.
32
City Furniture
(32)
Fort Lauderdale, Fla.
$229.8
$216.7
6.0%
23
24
NA
100%
NA
Midpriced chain in South Florida operating 14 City Furniture stores and nine Ashley Furniture HomeStores at year’s end. In 2011, opened a City and Ashley Furniture HomeStore
complex in Boca Raton, replacing three smaller City stores in the area. The retailer is investing in a multi-store expansion and renovation that will net the company two more Ashley
HomeStores and nearly 100,000 square feet of additional space. The first project is its Dadeland City showroom in the Miami area, adding a second floor and doubling the size to
about 30,000 square feet. It is scheduled to reopen this spring. In Cutler Bay, Fla., City is building a new 56,000-square-foot showroom on property adjacent to its existing store. The
store will open in the first quarter of 2013, at which time the retailer will renovate and convert the existing store into a HomeStore. In the Fort Lauderdale area, City is demolishing a
former Modernage furniture store in Oakland Park and building a 25,000-square-foot HomeStore, to be completed in the first quarter of 2013. In West Palm Beach, the company will
build a HomeStore next to its City location, connecting them for another superstore. The project is scheduled to be completed in early 2013. at which time City will close an existing
leased HomeStore nearby.
33
HOM Furniture
(35)
Coon Rapids, Minn.
$205.5
$193.4
6.3%
18
15
NA
NA
NA
Privately owned, midpriced to high-end chain currently operating 13 HOM Furniture stores, three Gabberts Design Studio & Fine Furniture stores, one Dock 86 and one Abbey Carpet. HOM
has six stores in greater Minneapolis/St. Paul, including a HOM Furniture and World Rugs Superstore in Plymouth, and one store each in Hermantown/Duluth, Rochester, and St. Cloud, Minn.;
Sioux City, Iowa; Sioux Falls, S.D.; Eau Claire, Wis.; and Fargo, N.D. Gabberts has stores in Edina, Minn.; Sioux Falls, S.D.; and Sioux City, Iowa. Dock 86 is in Little Canada, Minn., and Abbey
Carpet is in greater Minneapolis/St. Paul. Also sells online. In-store gallery: Stickley. In March 2011, opened Gabberts in Sioux City next to an existing HOM store, and in Sioux Falls as part of a
larger complex that also features a new HOM store, replacing the smaller HOM store in the area. In fall 2011, HOM entered the flooring category with the opening of Abbey Carpet and the addition of flooring in three of the metro Minneapolis/St. Paul HOM locations. Is adding flooring to the remaining three locations in May 2012. Other plans for 2012 include adding a Gabberts gallery to HOM’s Fargo location. Has a social media presence through Facebook and Twitter.
34
Macy’s Furniture Gallery
(34)
New York
$202.0
$195.0
3.6%
64
67
NA
100%
NA
Fiscal years ended Jan. 28 and Jan. 29. Part of publicly held Macy’s. Operates 62 Macy’s Furniture Gallery stores in the United States, including seven furniture clearance centers, and a Bloomingdale’s Furniture Gallery and a Bloomingdale’s Furniture Clearance in New York. Also accepts furniture orders over the Internet. Gallery stores average 35,000 square feet and offer furniture
collections by Brown Jordan, Lauren Ralph Lauren, Martha Stewart and Paula Deen and as well as mattresses by manufacturers such as Sealy, Serta, Simmons, Stearns & Foster, Tempur-Pedic
and its own private-label Hotel Collection by Aireloom. Furniture was listed among the strongest merchandise categories for Macy’s in 2011. Last year, closed the Macy’s Furniture Gallery
in San Antonio and the Macy’s Furniture Clearance Center in Naperville, Ill., moving the furniture businesses into nearby Macy’s stores, and closed the Bloomingdale’s Home and Furniture
Store in Oak Brook, Ill. Sales estimates exclude figures from the furniture departments of Macy’s main department stores. Has a social media presence through Facebook, Twitter and a company blog.
35
Hill Country Holdings
(37)
New Braunfels, Texas
$196.6
$167.7
17.2%
21
21
783
100%
$251
Privately owned group in business since 2002. Operates promotional to midpriced Ashley Furniture HomeStores in Texas and Washington. Operates 16 in Texas — nine in Houston, three in San
Antonio, two in Austin, one each in McAllen and Brownsville; and three in the Seattle area. Also operates outlets attached to warehouses in New Braunfels and Houston, Texas. Sales from appliances and electronics, $1.6 million. Revenues other than sales, $0.3 million. Units average 37,290 square feet. Average gross margin, 47%. Also carries bedding by Simmons. Plans to open two
new stores in 2012, one in a Texas location not yet announced and one in Tacoma, Wash.
36
Mattress Giant
(33)
Addison, Texas
$190.3
$205.0
-7.2%
194
360
NA
100%
NA
Bedding specialist that once had more than 300 stores in a dozen states sold most of its remaining stores this year to No. 10 Mattress Firm, ending its presence as a bedding retailer. The
transaction involving approximately 180 stores in Florida and Texas was completed May 2. The stores will be converted to the Mattress Firm name and product offerings. In 2011, Mattress
Giant sold 55 stores to Mattress Firm in November, and another 67 stores to No. 9 Sleepy’s, in December. The 2011 sales estimate includes sales from the sold stores up through the respective transaction dates.
NR = Not ranked
FT038-064i36 46
5/16/2012 10:18:26 AM
50
FURNITURE |TODAY
MAY 21, 2012
Rank
37
Living Spaces
(38)
Rancho Cucamonga, Calif.
2011
2010
$185.0
$164.0
Percent
change
2010 to 2011
12.8%
Number
of units
2011
2010
8
7
Selling space
all stores
sq. ft. 1000s
NA
percent of
average sales
selling space
per sq. ft.
100%
NA
Owned by Grover Geiselman and Sharm Scheuerman. Promotional to midpriced southern California chain operating stores in Irvine, La Mirada, Menifee, Monrovia, Rancho Cucamonga,
Redondo Beach, Van Nuys and Vista. Units average over 100,000 square feet and carry merchandise from a number of suppliers, including Ashley, Best, Circadian, Crown Mark, Flexsteel, GuildCraft, Hooker, Pulaski, Sealy, Serta, Simmons, Tempur-Pedic and Trendwood. In September 2011, opened its eighth store and first in San Diego County in Vista. The 130,000-square-foot store
opened in a former Sam’s Club location. Has a social media presence through Facebook, Twitter and YouTube.
38
Farmers Home Furniture
(36)
Dublin, Ga.
$177.0
$170.0
4.1%
174
168
NA
NA
NA
Fiscal years ended Jan. 31. Founded in 1949. Family-owned, promotional to midpriced Southeast chain with stores in Georgia, South Carolina, North Carolina, Alabama and Florida. Farmers
also sells electronics, computers and gaming, outdoor equipment and toys; revenues not included. In 2011, opened stores in Athens, Clanton, Scottsboro and Greenville, Ala.; Elberton, Ga.; and
Rockingham, N.C. Has plans to open stores this fiscal year, including ones in Eufaula and Brewton, Ala.
39
Levin Furniture
(40)
Smithton, Pa.
$175.0
$149.8
16.8%
16
14
835
100%
$209
Family-owned, founded in 1935. Midpriced chain operates in Pennsylvania and Ohio with eight stores in the Pittsburgh area, including a Sleep Center, seven in the greater Cleveland, Akron
and Canton, Ohio area and an outlet in St. Clairsville, Ohio. Units average 52,194 square feet. In 2011, opened a 37,000-square-foot store in Avon, Ohio, in July and a 53,000-square-foot store in
Greensburg, Pa., over the Labor Day weekend. Levin is opening four to 10 new Levin Mattress locations in 2012. The stores will open in the Ohio and Pennsylvania markets, ranging in size from
4,000 to 5,000 square feet. Has a social media presence through Facebook and Twitter.
40
Arhaus Furniture
(43)
Walton Hills, Ohio
$165.0
$130.0
26.9%
39
36
NA
100%
NA
Owned by Homeworks Inc. Upper-midpriced to upscale retailer of primarily exclusive home furnishings from around the world, with the retailer involved in the development of
much of its furniture. Stores are highly accessorized and filled with architectural and artistic elements. Founded in 1986, the company is known for its commitment to the Earth’s
resources, developing functional pieces from recycled natural resources. At year’s end, operated Arhaus stores in 15 states in Ohio, Colorado, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, Pennsylvania and Virginia. Operations include one clearance center in Cleveland. Also sells online. In
2011, opened stores in North Bethesda, Md.,; Manhattan; and Atlanta, its first in Georgia. In 2012, will open four stores entering two new states, North Carolina and Minnesota. The
North Carolina store opened in Raleigh in March, the Minnesota store will open in the Twin Cities area in Edina this fall. Will open its second store in New Jersey, in Hackensack in
July. The fourth location has not been announced. Has a social media presence through Facebook.
41
Design Within Reach
(73)
Stamford, Conn.
$160.0
$142.0
12.7%
44
49
NA
NA
NA
Multi-channel retailer of authentic modern furnishings and accessories to residential and commercial customers through its catalog, studios and website. Operates 44 Studios in the
U.S., including one outlet, and one Studio in Canada. Studios range in size from 1,200 to 11,000 square feet and offer chairs and tables, workspace and outdoor furniture, lighting, floor
coverings, bedroom furnishings and related accessories. 2010 sales revised. Publishes a monthly catalog showing the breadth of assortment, new introductions and customer service
highlights. Merchandise offerings include new, original designs the company is known for. In 2011, relocated its headquarters from San Francisco to Stamford, Conn. The headquarters
include a new Design Within Reach Studio with offices upstairs. Has a social media presence through Facebook, Twitter and YouTube as well as a company blog called Design Notes,
which began in 2005.
42
El Dorado Furniture
(42)
Miami Gardens, Fla.
$159.1
$137.1
16.0%
12
12
861
100%
$185
Owned by the Capo family. Midpriced to high-end retailer with 12 stores in South Florida, including two outlets. El Dorado operates seven stores in Miami-Dade County, including
the outlets; three in Broward County in Pembroke Pines, Plantation and Coconut Creek; and two in Palm Beach County, in West Palm Beach. Also sells online. Revenues other than
sales, $0.2 million. Units average 74,290 square feet. In December, began an expansion and remodeling project at its Pembroke Pines store. The project, which is scheduled to be completed by October or November, will add 35,000 square feet for a total of 145,000 square feet, making it the retailer’s largest showroom. Plans are also underway to open its first store
on Florida’s Gulf Coast, in Fort Myers, in the second quarter of 2013. El Dorado is celebrating its 45th anniversary this year. Has a social media presence through Facebook, Twitter
and YouTube.
43
The RoomPlace
(39)
Lombard, Ill.
$151.0
$160.0
-5.6%
22
24
NA
100%
NA
Owned by Bruce Berman. Midpriced stores serving Illinois and Indiana markets. Operates 18 stores in Chicago metro, including one clearance center; three in Indianapolis; and one in Rockford,
Ill. 2010 store count revised to include two clearance centers. Also sells online. In 2011, closed two stores — the Hillside, Ill., outlet center in July when the lease expired, and the store in Mishawaka, Ind., in December. Berman, the former owner and CEO, recently purchased the material business assets from the private equity investors who had bought the company from the Berman
family in 2004. Has a social media presence through Facebook and Twitter.
44
Kane’s Furniture
(47)
Pinellas Park, Fla.
$133.0
$120.0
10.8%
17
17
1,020
100%
$130
Midpriced stores located primarily on Florida’s west coast. Founded in 1948, the retailer operates 14 Kane’s Furniture stores and three Savon Furniture stores. Kane’s has two stores each in Orlando, Tampa and St. Petersburg, including a clearance center, and one each in Brandon, Casselberry, Clearwater, Lakeland, Melbourne, New Port Richey, Ocala and Ocoee. Savon Furniture stores are
in Fort Myers, Port Charlotte and Sarasota. Units average 60,000 square feet. Carries mattresses by King Koil, Sealy, Serta, Stearns & Foster and Tempur-Pedic. Has a social media presence through
Facebook and Twitter.
45
Baer’s
(49)
Pompano Beach, Fla.
$132.0
$114.0
15.8%
15
14
NA
100%
NA
Third-generation, family-owned, midpriced to high-end South Florida chain with 11 stores on the Atlantic coast from Orlando south to Kendall, including two Design Centers, one in Dania
and one in Miami, and four stores on the Gulf Coast in Naples, Fort Myers, Port Charlotte and Sarasota. Also runs an outlet out of its warehouse once every quarter for a three-day period. Units
average 50,000 square feet. In-store galleries: Bernhardt, Better Homes & Gardens, Broyhill and Natuzzi. Other key suppliers include Hooker, Kingsdown, Lexington, Stanley, Theodore Alexander
and Universal. Converted its Miami showroom to a Design Center open to the design trade and public. Baer’s opened a 38,000-square-foot showroom in Pinecrest last summer, in a former Carls
Furniture store. Has a social media presence through Facebook, Pinterest and Tumblr.
NR = Not ranked
FT038-064i36 50
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52
FURNITURE |TODAY
MAY 21, 2012
Rank
46
ABC Carpet & Home
(44)
New York
2011
2010
$130.0
$125.0
Percent
change
2010 to 2011
4.0%
Number
of units
2011
2010
4
4
Selling space
all stores
sq. ft. 1000s
NA
percent of
average sales
selling space
per sq. ft.
NA
NA
Privately owned, high-end specialty home furnishings retailer with four stores in the United States. Operates its flagship store in Manhattan with 10 floors of rugs, furniture, antiques, home
textiles, accessories and sustainable furnishings and a carpet store across the street; one store each in South Hackensack, N.J., and Delray Beach, Fla.; and a warehouse outlet in the Bronx. Also
accepts orders over the Internet. Sales include a significant business in high-end Oriental rugs. Known for its commitment to the environment, ABC sells a number of pieces of furniture made
entirely from sustainable, recycled, reclaimed and salvaged wood. Has a social media presence through Facebook and Twitter.
47
Furnitureland South
(45)
High Point
$129.4
$123.5
4.8%
1
1
1,160
100%
$106
Owned by Darrell Harris and family. Founded in 1969. Midpriced to high-end discount retailer operating a 1.7 million-square-foot complex, including a 400,000-square-foot showroom and a
500,000-square-foot Mart connected by an indoor skylink, a 300,000-square-foot clearance center, a Furnitureland South Cafe and a Starbucks Cafe on a 135-acre site. 2010 store count revised.
Manufacturer galleries include Stanley, Bernhardt, Century, Fine Furniture, Henredon, Huntington House, Kincaid, Lexington Home Brands, Marge Carson, Natuzzi and Ralph Lauren. Average
stock turns, 8 times. Planning a new design center and a new merchandising plan with new style galleries and easier navigation through the showroom. Is launching a new ambassador rewards
program this year as well. Has a social media presence through Facebook, Twitter, YouTube and a company blog. Also, offers free WiFi for its customers.
48
Furniture Mart USA
(50)
Sioux Falls, S.D.
$124.3
$113.6
9.4%
32
31
NA
NA
NA
Formerly Furniture Outlets USA, recently changed its corporate name to Furniture Mart USA. Privately held, promotional to midpriced chain operating stores within the upper Midwest in the
Dakotas, Minnesota and Iowa under the names of Furniture Mart, Unclaimed Freight Furniture, Ashley Furniture HomeStores, Furnish 123 and Carpet One. Carpeting sales, about $5.6 million.
Completed the conversion of its former liquidation center in Elk River, Minn., into a home furnishings complex featuring a 32,000-square-foot Ashley Furniture HomeStore, a 42,000-square-foot
multi-line Furniture Mart and a Jo-Ann Fabrics and Crafts store last year. The formal grand opening and ribbon cutting was held Feb. 7. Has a social media presence through Facebook, Twitter,
YouTube and Pinterest.
49
Z Gallerie
(46)
Gardena, Calif.
$119.3
$105.3
13.3%
56
54
NA
NA
NA
Privately owned, founded in 1979. Midpriced lifestyle specialty chain offering a variety of high-quality home furnishings including furniture, artwork, lighting, tabletop items, textiles
and decorative accessories from around the world. Operates 55 units in 20 states, plus one outlet in Gardena. Also accepts orders over the Internet. 2010 sales and store count revised.
Units average 8,000 square feet. In 2011, opened stores in Hallandale, Fla.; Redmond, Wash.; San Antonio; Atlanta; and Highland Park, Ill., and closed stores in Santa Monica and Sacramento, Calif., and Oakbrook, Ill. Earlier this year, closed the store in Charlotte, N.C., and in April, opened a store in Plano, Texas. Has a social media presence through Facebook, Twitter
and Pinterest.
50
Gallery Furniture
(58)
Houston
$115.7
$91.5
26.4%
2
2
112
NA
$1,103
Privately owned, promotional to high-end retailer serving the greater Houston area with its main showroom and a satellite store in the Galleria mall area. The satellite store, with 22,000 square
feet of selling space, includes a dedicated gallery of high-end special order and other goods from the top tier of price points at Gallery’s main showroom. Sales from electronics, $3.9 million. Revenues other than sales, $3.9 million. Average stock turns, 8 times. Average gross margin, 50.7%. In-store galleries: Tempur-Pedic and Flexsteel, one each. Other key vendors include Ashley, Franklin, Home Trends & Design, Jonathan Lewis, Lane, Sealy and United Leather. Has a social media presence through Facebook and Twitter. Offers free WiFi for customers.
51
Grand Home Furnishings
(52)
Roanoke, Va.
$110.2
$105.6
4.4%
17
17
NA
100%
NA
Fiscal years ended Oct. 31. Privately owned, founded in 1911. Midpriced chain with stores throughout western and central Virginia, east Tennessee and the eastern part of West Virginia. Operations include 13 stores in Virginia — three in Roanoke and one store each in Bristol, Charlottesville, Christiansburg, Harrisonburg, Lexington, Lynchburg, Smith Mountain Lake, Waynesboro,
Winchester and Wise; two stores in Tennessee, in Johnson City and Kingsport; and two stores in West Virginia, in Beckley and Lewisburg. The Smith Mountain Lake store and one of the stores in
Roanoke are outlet stores. Has a social media presence through Facebook and Twitter.
52
Steinhafels
(55)
Waukesha, Wis.
$109.3
$99.1
10.3%
17
14
565
100%
$210
Third-generation, family-owned business founded in 1934. Midpriced chain serves southeastern Wisconsin and northern Illinois with Steinhafels Furniture Superstores and Steinhafels Mattress
stores. At year’s end, operated 11 stores in the Milwaukee area, including seven mattress stores; four in the Madison. Wis., area, including two mattress stores; and stores in Kenosha, Wis., and
Vernon Hills, Ill. Also accepts orders over the Internet. Owns MidAmerica Bedding, a factory-direct bedding business; revenues not included. Furniture Superstores average 75,000 square feet;
mattress stores average 5,000 square feet. Average stock turns, 5 times. Same-store sales increased 3.5%. In-store galleries: Stickley, two, averaging 4,000 square feet. In 2011, opened mattress
stores in the Madison market in Janesville and Madison, and a 101,000-square-foot superstore in the northern Illinois market in Vernon Hills. Earlier this year, closed a Milwaukee-area Mattress
Store. Will continue to look for expansion opportunities in 2012. Has a social media presence through Facebook, Twitter and Google +.
53
Famsa
(51)
Santa Fe Springs, Calif.
$108.8
$110.2
-1.3%
49
51
1,262
NA
NA
Owned by Grupo Famsa, S.A.B. de C.V. Midpriced, credit-oriented retailer focused on serving the U.S. Hispanic population through a 49-store chain in California, Texas, Illinois, Arizona and Nevada. Sales and store counts for the U.S. only. Merchandise mix includes appliances and electronics. Offers a program called Famsa-to-Famsa through which customers
purchase goods at its stores and have them delivered to relatives in Mexico and some Central American countries. Closed two stores in 2011 in California and Arizona. Recently announced it will close all 24 of its stores in California, Nevada and Arizona later this year, leaving 22 stores in Texas and three in Illinois. Has a social media presence through Facebook
and Twitter.
54
Bernie & Phyl’s Furniture
(53)
Norton, Mass.
$102.4
$103.4
-1.0%
7
7
317
100%
$323
Parent corporation is Convertible Castle. Family-owned and operated, in business since 1983. Midpriced chain serving eastern Massachusetts, southern New Hampshire and the Rhode Island
market with stores in Braintree, Saugus, Westboro, Raynham, and Hyannis, Mass.; Nashua, N.H.; and Warwick, R.I., at year’s end. Also accepts orders over the Internet with approximately 2% of
total sales from online. Units average 45,000 square feet. Key vendors include Ashley, England, Sealy and Vaughan. Average stock turns, 10.6 times. In February 2012, opened a 35,000-square-foot
main showroom and a 5,000-square-foot new concept Metro Living specialty store in Natick, Mass. Metro Living, located next door, features higher end but still value-priced fabric and leather
upholstery and occasional tables in contemporary, transitional and casual lifestyle looks. Has a social media presence through Facebook, Twitter and YouTube.
NR = Not ranked
FT038-064i36 52
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54
FURNITURE |TODAY
MAY 21, 2012
Rank
55
Jerome’s
(56)
San Diego
2011
2010
$101.9
$95.5
Percent
change
2010 to 2011
6.7%
Number
of units
2011
2010
8
8
Selling space
all stores
sq. ft. 1000s
427
percent of
average sales
selling space
per sq. ft.
100%
$236
Family-owned, promotional to midpriced chain serving southern California. At year’s end, operated six stores in San Diego County, in San Diego, San Marcos, Chula Vista, El Cajon, and Scripps Ranch,
including a clearance center within its distribution center in Rancho Bernardo and two in Riverside County, in Murrieta and Corona. Accepts orders over the Internet with approximately 2% of total
sales from online. Units average 61,000 square feet. Key vendors include Diamond Mattress, Robert Michael, Serta and Simmons. Same-store sales increased 4%. In April 2012, opened a 40,000-squarefoot showroom in Rancho Cucamonga, Calif., in San Bernardino County in a former Linder’s Furniture location. Has a social media presence through Facebook and Twitter. Offers free WiFi for customers.
56
(NR)
Back To Bed/Bedding Experts/
Mattress Barn
$100.0
NA
NA
120
NA
NA
100%
NA
Itasca, Ill.
Privately owned bedding specialty retailer operating in the Chicagoland area under the names Back To Bed, Bedding Experts and Mattress World and in Florida under the name Mattress Barn.
Back To Bed, with 45 stores that average 3,600 square feet in Illinois and one in Kenosha, Wis., carries Beautyrest, ComforPedic, Tempur-Pedic, Stearns & Foster, MiForma, Technogel, Mattress
Via, FBG and massage chairs by Human Touch. Bedding Experts, with 39 stores that average 3,200 square feet in Illinois and eight in Indiana, carries Sealy, Stearns & Foster, Tempur-Pedic, Mattress Via and FBG. Mattress World has two stores in Indiana and two stores in Illinois. Mattress Barn, with 23 stores that average 4,500 square feet serving central Florida, the Space Coast and the
Treasure Coast, offers its customers Englander by Advanced Sleep Concepts, Beautyrest, ComforPedic, Tempur-Pedic, Sealy, Stearns & Foster, MiForma, Technogel, Mattress Via and furniture from
Harden Mfg. and Standard. Acquired Mattress Barn, the retail subsidiary of Advanced Sleep Concepts based in Rome, Ga., in November 2011. Plans to open 16 new locations in Illinois, Indiana
and Wisconsin in 2012. Sells online, has a social media presence through Facebook, Twitter and YouTube, as well as a company blog.
57
Regency Furniture
(62)
Brandywine, Md.
$97.0
$82.0
18.3%
14
12
NA
100%
NA
Family-owned, in business since 1999. Promotional to midpriced retailer operating seven Regency Furniture stores in Brandywine, Largo and Hyattsville, Md., and Alexandria, Fairfax, Fredericksburg and Woodbridge, Va., where it operates a clearance center. Also operates seven Ashley Furniture HomeStores in Maryland, with two in Hagerstown, including a clearance center, and one
each in Bel Air, Easton, Catonsville, Frederick and Rosedale. Also sells online. Key suppliers include AICO, Ashley, Delta Furniture, Fusion, Homelegance, Jackson, Lifestyle, Najarian, Simmons
Bedding and World Imports. In 2011, opened an Ashley store in Bel Air and a second Ashley store in Hagerstown. Plans to open six stores in 2012. Has a social media presence through Facebook.
58
Stickley, Audi & Co.
(57)
Manlius, N.Y.
$95.5
$94.0
1.6%
14
14
383
100%
NA
Owned by the Audi family, which owns high-end manufacturer L.&J.G. Stickley. Revenues from manufacturing operations not included. Operates 14 high-end stores dedicated to Stickley
merchandise and other high-end lines — two each in Charlotte, N.C.; Denver; and Pittsburgh; and one each in Albany, Fayetteville, Manhattan, Rochester and White Plains, N.Y.; High Point;
Enfield, Conn.; and Natick, Mass. Units average 27,000 square feet. Other key vendors are Baker, Bradington Young, Century, E. J. Victor, Fine Furniture Design, Hancock & Moore, Hickory Chair,
Lexington and Southwood. In 2011, closed the showroom in Scottsdale, Ariz., when its lease expired in May, and opened a second store in Charlotte, N.C., in September, in a former Boyles Furniture showroom. The south Charlotte store location will close this May when its lease expires. Purchased a 22,000-square-foot facility in Paramus, N.J., earlier this year that it plans to convert
into a retail showroom by Labor Day. Has a social media presence through Facebook.
59
Gardner-White
(59)
Warren, Mich.
$95.0
$89.0
6.7%
7
7
225
100%
$422
Promotional to midpriced stores in metro Detroit — two in Warren and one each in Canton, Macomb, Southfield, Taylor and Waterford. Units average 32,000 square feet and carry product from
key vendors Albany, Ashley, Corinthian, Cheers, Fairmont, Futura Leather, Genesis, Lifestyle Enterprise, Natuzzi, Restonic, Serta, Simmons and Tempur-Pedic. In December 2011, purchased a
facility in Auburn Hills, Mich., that will become the retailer’s new headquarters, distribution center and retail outlet later this year. The facility has approximately 300,000 more square feet than
the facility the company now occupies in Warren. The new distribution center will also house a 75,000-square-foot retail outlet. Gardner-White is celebrating its 100th anniversary this year. Has
a social media presence through Facebook and Twitter.
60
Crest Furniture
(68)
Dayton, N.J.
$94.3
$77.4
21.8%
13
12
NA
100%
NA
Family-owned, promotional to midpriced retailer operating Value City Furniture stores in New Jersey and Ashley Furniture HomeStores in New Jersey and Pennsylvania. Value City stores are not
affiliated with Columbus, Ohio-based American Signature (No. 7). In February 2011, opened its sixth Ashley store and second one in Pennsylvania, in Plymouth Meeting. Plans to open another
Ashley store in Pennsylvania this summer.
61
The Spencer Group
(69)
Saltillo, Miss.
$91.0
$76.4
19.2%
13
12
364
100%
$250
Family-owned group, in business since 2002. Operates 11 promotional to midpriced Ashley Furniture HomeStores in Tennessee, Kentucky, Mississippi, Arkansas and Alabama, and two Stash
stores of eclectic midpriced to upper-end goods in Memphis, Tenn., and Oxford, Miss. Operations include an outlet store in Memphis. Units average 37,500 square feet. Other key vendors
include Montage and Sealy. Average stock turns, 4.55 times. Bought the Prattville, Ala., HomeStore last year from a single-store operator. In April 2012, acquired the lease on Richmond-based
RoomStore’s showroom in Tyler, Texas. Spencer Group will use the space for a 35,000- to 36,000-square-foot Ashley Furniture HomeStore to open in May before Memorial Day. Additional plans
for 2012 include expanding Stash to a new market. Has a social media presence through Facebook.
62
Sit ‘n Sleep
(61)
Gardena, Calif.
$90.6
$82.8
9.4%
27
24
332
100%
$262
Promotional to high-end Southern California bedding specialist with stores in the greater Los Angeles area, including one clearance center in Anaheim. Also accepts orders over the Internet with
approximately .03% of total sales from online. Units average 12,000 square feet. Average gross margin, 45%. Key vendors include Aireloom, E.S. Kluft, Kingsdown, Sealy, Serta, Sherwood, Simmons and Tempur-Pedic. In 2011, opened units in Costa Mesa, Agoura Hills and Studio City. Plans to open another three units in 2012, including one in West Hollywood that opened earlier this
year. Has a social media presence through Facebook, Twitter and YouTube.
63
Jennifer Convertibles
(67)
Woodbury, N.Y.
$90.0
$76.0
18.4%
81
95
NA
100%
NA
Fiscal years ended Aug. 27 and Aug. 28. Owned by Chinese upholstery producer Haining Mengnu. Sofa-sleeper and leather specialist currently operates 70 Jennifer Convertibles and
Jennifer Leather stores in California, Connecticut, Maryland, New Jersey, New York, Virginia and Washington, D.C. Also operates six promotional to midpriced Ashley Furniture
HomeStores in greater New York. Emerged from Chapter 11 bankruptcy protection in February 2011 controlled by its largest supplier, Haining Mengnu Group, with 90% of the company’s stock. In October, terminated the registration of its common stock with the Securities and Exchange Commission. Has a social media presence through Facebook, Twitter and
a company blog.
NR = Not ranked
FT038-064i36 54
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56
FURNITURE |TODAY
MAY 21, 2012
Rank
64
Walter E. Smithe Furniture
(60)
Itasca, Ill.
2011
2010
$85.4
$85.4
Percent
change
2010 to 2011
0.0%
Number
of units
2011
2010
11
11
Selling space
all stores
sq. ft. 1000s
NA
percent of
average sales
selling space
per sq. ft.
100%
NA
Third-generation, family-owned, founded in 1945. Midpriced to high-end special-order chain with stores throughout the Chicago suburbs and northwest Indiana, including Drexel Heritage
stores in Lincolnshire and Arlington Heights, Ill. Has a social media presence through Facebook, Twitter, YouTube and a company blog.
65
Wolf Furniture
(65)
Bellwood, Pa.
$84.6
$76.7
10.2%
12
12
518
NA
NA
Family-owned, in business since 1902. Midpriced retailer with stores in Altoona, Johnstown, State College, Hanover, Chambersburg, Harrisburg, Mechanicsburg, York and Lancaster, Pa.;
Frederick and Hagerstown, Md.; and a Clearance Center in Altoona. Carpeting sales and revenues other than sales, $853,269. Units average 43,135 square feet. In-store galleries: La-Z-Boy,
five; Kingsdown Sleep to Live, one. Wolf Furniture’s owners and executives teamed with outside investors to open Allegheny Furniture Consignment to provide customers with an outlet to
sell their unwanted furniture. The new concept store with 30,000 square feet opened in Harrisburg, Pa., last fall. Allegheny Furniture Consignment sales are not included in Wolf’s reported
revenue. Will open a 46,000-square-foot Wolf Furniture store in Leesburg, Va., late summer 2012 — the retailer’s first showroom in Virginia. Has a social media presence through Facebook
and Twitter.
66
Lacks Valley Stores
$83.3
(63)
Pharr, Texas
$79.7
4.5%
12
11
NA
NA
NA
Family-owned, founded in 1935. Midpriced to high-end chain serving South Texas from Laredo to Port Isabel, with two stores in McAllen and one store each in Alice, Brownsville, Edinburgh,
Harlingen, Laredo, Mission, Pharr, Rio Grande City, San Benito and South Padre Island/Port Isabel. Sales from electronics and major appliances, $13 million. Revenues other than sales, $12 million. In-store galleries: Lane, AICO, Bernhardt and Natuzzi. Purchased a former Lack’s Stores’ 35,000-square-foot unit in Alice, reopened the location as Lacks Valley Store in May 2011. Has a
social media presence through Facebook.
67
(72)
Chair King/
Fortunoff Backyard Store
$81.0
$70.0
15.7%
28
25
NA
NA
NA
Houston
Midpriced to high-end retailer operating Chair King Backyard Store in Texas and Fortunoff Backyard Store in New York and New Jersey. Also operates Leisure Collections, a design showroom in
Houston, serving designers, builders and the contract and hospitality industry. At year’s end, operated 17 Chair King stores with seven in Houston, five in Dallas/Fort Worth, three in Austin and
two in San Antonio; and 10 Fortunoff stores with four in New York in Westbury, Lake Grove, Melville and Yonkers, and six in New Jersey in Paramus, Totowa, Edison, Eatontown, Springfield and
Livingston. In February 2011, Fortunoff Backyard Store opened in Yonkers, Springfield and Livingston. In July, it closed a Chair King Backyard Store in San Antonio. Is opening another three Fortunoff stores in 2012, including one in Staten Island, N.Y., which opened in February and one in Lawrenceville, N.J., which opened in April. The third store will open in Nanuet, N.Y., in mid- to
late spring. Has a social media presence through Facebook, Twitter and Pinterest.
68
Innovative Mattress Solutions
(NR)
Winfield, W.Va.
$80.0
NA
NA
120
NA
NA
100%
NA
Privately held bedding specialty retailer founded in 1983 with the opening of its first store in South Charleston, W.Va. IMS does business as Sleep Outfitters, Mattress Warehouse and Mattresses
Unlimited in West Virginia, Ohio, Indiana, Kentucky and Tennessee. Mattress vendors include Sealy, Simmons, Stearns & Foster and Tempur-Pedic. In October 2011, acquired Nashville, Tenn.based Mattresses Unlimited, boosting its presence in the Louisville, Ky., market and marking its entry into Tennessee. This April, entered Alabama with its acquisition of 19-store retailer Mattress
King. Has a social media presence through Facebook and Twitter.
69
Kittle’s Furniture
(70)
Indianapolis
$78.0
$73.2
6.6%
12
12
578
100%
$135
Family-owned, founded in 1932. Promotional to high-end Indiana and Ohio chain operating seven Kittle’s, three Rooms Express, one outlet and one Ethan Allen store at year’s end. In-store galleries: Bernhardt and Broyhill. Other key vendors include Corinthian, HTL, Kingsdown Sleep to Live, Klaussner, Lane, Legacy, Serta, Simmons and Vaughan-Bassett. The retailer offers a broad
array of price points with a large selection at each. Sold its Ethan Allen store to Ethan Allen corporate on March 30 of this year. Has a social media presence through Facebook.
70
Morris Furniture
(74)
Dayton, Ohio
$75.0
$67.0
11.9%
16
14
480
96%
$165
Privately owned, promotional to midpriced retailer serving central and southwestern Ohio and northern Kentucky with Morris Home Furnishings, Ashley Furniture HomeStore,
Morris Clearance Outlet, Better Sleep Shop and Morris Big HDTV. Operates two Morris Home Furnishings, three Ashley Furniture HomeStores and two clearance outlets in the
Dayton, Ohio, area; three Ashley Furniture HomeStores in the Columbus market; one Ashley and one Morris Home Center, with an Ashley Furniture HomeStore, a Morris Home
Furnishings, Morris Clearance Outlet, Better Sleep Shop and Morris Big HDTV in the Cincinnati market. Electronics and home theater sales, about $3 million. Units average 42,000
square feet. In-store galleries: Lane, four; Better Homes & Gardens, four. Average stock turns, 4 times. Average gross margin, 47%. Same-store sales increased 2%. In January 2011,
opened Better Sleep Shop and Morris Big HDTV, the last two stores in its five-store Morris Home Center complex in Cincinnati. Morris Furniture plans to open its second Cincinnati-area Morris Home Center in Florence, Ky., in early fall 2012. The 100,000-square-foot complex will feature the same stores. Has a social media presence through Facebook and
YouTube.
71
Darvin Furniture
(64)
Orland Park, Ill.
$75.0
$78.0
-3.8%
1
2
120
100%
$625
Family-owned, midpriced to upscale retailer serving Chicago, the surrounding suburbs, northern Illinois and northern Indiana with a Darvin Furniture super store, including a clearance center and mattress store all located on 11 acres. Offers over 80 brand names including Bassett, Bernhardt, Broyhill, Century, Daniel’s Amish, Flexsteel, Karastan, Klaussner, Lane,
La-Z-Boy Kids, Pennsylvania House, Rowe, Sealy, Serta, Simmons, Southern Motion, Stanley, Young America, Stearns & Foster, Tempur-Pedic, Thomasville and Universal. Has a social
media presence through Facebook.
72
Big Sandy Superstore
$75.0
$112.0
(48)
Franklin Furnace, Ohio
-33.0%
22
24
NA
NA
NA
Midpriced chain operating 19 Big Sandy Superstores in Ohio, Kentucky and West Virginia, including four outlet stores, and three Pieratt’s in central Kentucky in the Lexington area. Sales from
appliances and electronics, $55 million. Sales and store count for 2011 do not include those from Great Buys Plus partnership, which were included in 2010. In 2011, Big Sandy entered into a
joint venture with electronics retailer Pieratt’s, selling brand-name home appliances, electronics, furniture and bedding. Also in 2011, Big Sandy opened Big Sandy Xpressions in Barboursville,
W.Va., with a Furnish 123 inside. Has a social media presence through Facebook and Twitter.
NR = Not ranked
FT038-064i36 56
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FURNITURE |TODAY
MAY 21, 2012
Rank
73
The RoomStore
(71)
Phoenix
2011
2010
$74.9
$72.1
Percent
change
2010 to 2011
3.9%
Number
of units
2011
2010
11
11
Selling space
all stores
sq. ft. 1000s
344
percent of
average sales
selling space
per sq. ft.
100%
$218
Owned by Alan and Phillip Levitz and Dan Selznick. Not affiliated with Richmond, Va.-based RoomStore (No. 30). Promotional to midpriced room package specialist operating eight RoomStores
and one clearance center in metro Phoenix in Ahwatukee, Glendale, Goodyear, Mesa, Paradise Valley, Phoenix, Scottsdale, and Superstition Springs and one RoomStore each in Prescott and
Casa Grande. Average stock turns, 12.5 times. Units average 34,400 square feet and carry brands including Broyhill, Sealy, Lane, Natuzzi, Cindy Crawford Home and Stearns & Foster. Has a social
media presence through Facebook and Twitter.
74
JCPenney Home Store
(66)
Plano, Texas
$72.0
$76.0
-5.3%
29
31
NA
NA
NA
Fiscal years ended Jan. 28 and Jan. 29. Part of publicly held J. C. Penney. Operated 27 Home Stores and two furniture outlet stores at fiscal year end. Penney’s Home Stores offer furniture and bedding along with home decor, housewares, bed and bath textiles, and window treatments from the company’s private brands, Linden Street, Chris Madden and Studio as well as its exclusive brand,
Cindy Crawford Style. Mattress brands carried include Sealy, Serta, Simmons and Stearns & Foster. In 2011, the company closed the furniture outlet in Rancho Cucamonga, Calif., and the JCPenney Home Store in Duluth, Ga. The company says it is transforming the way it does business and remaking the customer experience with its straightforward Fair and Square pricing, month-long
promotions, carefully selected merchandise, artful presentation and customer service. Sales estimates exclude figures from the furniture departments of JCPenney’s main department stores. The
retailer is currently operating 25 Home Stores and no furniture outlets. Has a social media presence through Facebook, Twitter and YouTube.
75
Schewel Furniture
$69.0
$66.0
(76)
Lynchburg, Va.
4.5%
51
52
1,000
NA
NA
Family-owned, midpriced, credit-oriented chain in Virginia, West Virginia and North Carolina. Sales from appliances, electronics, carpeting and other non-furniture merchandise, $26 million.
Credit income and other non-merchandise revenues, $17 million. Units average 20,000 square feet. Average stock turns, 3 times. Average gross margin, 43%. Closed the outlet store in Front
Royal, Va., last year. Has a social media presence through Facebook, Twitter and a company blog.
76
Sam Levitz Furniture
(75)
Tucson, Ariz.
$67.9
$66.9
1.5%
5
5
250
100%
$272
Family-owned, founded in 1953. Promotional to midpriced retailer in metro Tucson, operating three Sam Levitz Furniture stores, one Ashley Furniture HomeStore and one Sam’s Furniture Outlet. Stores average 50,000 square feet. Key vendors are Ashley, Bernhardt, Century, Coaster, Hooker, Lane, Robert Michael, Sealy and Tempur-Pedic. Average stock turns, 6 times. Average gross
margin, 41%. Plans to add a second Ashley Furniture HomeStore in the Tucson area. Has a social media presence through Facebook.
77
Louis Shanks of Texas
(80)
Austin, Texas
$67.3
$62.3
8.1%
4
4
351
NA
NA
Family-owned, founded in 1945. Midpriced to high-end retailer operating one store in Austin, two in Houston and one in San Antonio at the end of 2011. Includes off-site estate sales handled
by Louis Shanks and sales from its temporary, off-site outlet stores. Showrooms offer consumers home furnishings from more than 48 suppliers, including window coverings, linens and flooring;
revenues not included. Also offers high-quality decorative oil paintings and custom artwork, which it displays within the furniture vignettes. Average gross margin, 44.5%. Closed its smallest
Houston store earlier this year, a 55,000-square-foot showroom on FM 1960. Has a social media presence through Facebook and a company blog.
78
Broad River Furniture
(86)
Charlotte, N.C.
$66.4
$53.2
24.7%
15
12
405
100%
$164
Privately owned group operating promotional to midpriced Ashley Furniture HomeStores in the Carolinas and Georgia as well as a new concept, medium to upper-midpriced Savvy Spaces in
North Carolina. Operates nine HomeStores in North Carolina in Charlotte, Concord/Kannapolis, Fayetteville, Gastonia, Hickory, Matthews, Mooresville and Pineville; four in South Carolina in
Anderson, Columbia, Greenville and Spartanburg; and one in Augusta, Ga. Also operates an Ashley outlet in Matthews. Savvy Spaces is in Pineville, N.C. Units average 32,000 square feet. Average
stock turns, 16 times. Same-store sales increased 12.9%. Key bedding vendors are Sealy, Tempur-Pedic and Ashley Sleep. In 2011, opened an Ashley store in Fayetteville, N.C., a new market, and
an Ashley outlet in Matthews. During the summer, opened its new multi-line store, Savvy Spaces, in a former Boyles Furniture store in the Charlotte suburb of Pineville. Plans to open four new
stores in 2012. Has multiple Facebook pages, Twitter accounts, YouTube pages and a Pinterest account (for Savvy Spaces).
79
Hudson’s
(82)
Sanford, Fla.
$65.0
$58.0
12.1%
17
18
NA
100%
NA
Privately owned, midpriced to upscale Florida retailer in business since 1981. Currently operates 14 Hudson’s Furniture Showrooms serving much of central Florida from Sarasota to Ormond
Beach, including an outlet center in Sanford. Showrooms carry a number of brands, including Broyhill, Lane, Lexington, Simmons, Tommy Bahama and Paula Deen. In January 2012, announced the closing of its four promotional to midpriced Chloe’s Furniture in North Carolina. The retailer had opened the Chloe’s early in 2011, in four of the five former Ashley Furniture
HomeStores the retailer previously operated. In April, opened its 14th location in New Smyrna Beach.
80
American Mattress
(NR)
Elmhurst, Ill.
$63.0
$55.0
14.5%
82
78
NA
100%
NA
Family-owned business serving the Chicago area for over 20 years. Operates showrooms in Illinois, Indiana and one in Wisconsin. Carries Serta and Tempur-Pedic brands. Has a social media presence through Facebook.
81
C.S. Wo & Sons
(77)
Honolulu
$63.0
$63.0
0.0%
16
16
275
100%
$230
Family-owned, founded in 1909. Promotional to high-end retailer with 16 stores under multiple names on three Hawaiian Islands and California. On Oahu, operates one high-end C.S. Wo Gallery store, two HomeWorld superstores, two Ashley Furniture HomeStores and four SlumberWorld sleep shops. On neighboring islands, operates two midpriced Furnitureland stores on Hilo and
Kona, a midpriced BJ Furniture Mart on Maui, and attached SlumberWorld sleep shops at each location in Hilo, Kona and Maui. In California, the retailer operates a C.S. Wo Gallery in Costa
Mesa. Units average 15,000 square feet. Key vendors include Ashley, Bernhardt, Drexel Heritage, Jonathan Louis, Kinwai, Lexington, McCreary Modern, Natuzzi and Stanley. In May 2011, converted its two Rooms Hawaii stores on Oahu into Ashley Furniture HomeStores. Has a social media presence through Facebook and Twitter.
82
Furniture Factory Outlet
(83)
Muldrow, Okla.
$60.0
$57.0
5.3%
31
29
NA
100%
NA
Privately owned, promotional to midpriced chain with showrooms in five states. Retail operations include 12 units each in Arkansas and Missouri, four in Oklahoma, two in Kansas and one in
Mississippi. Founded in 1984, FFO’s purchasing focuses heavily on factory overruns, closeouts and dealer cancellations. The retailer owns a bed manufacturing operation, which it acquired in
2010. In 2011, opened units in Harrison, Ark., and in Tupelo, Miss., a new state.
NR = Not ranked
FT038-064i36 58
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60
FURNITURE |TODAY
MAY 21, 2012
Rank
83
Home Furniture
(84)
Lafayette, La.
2011
2010
$59.0
$56.5
Percent
change
2010 to 2011
4.4%
Number
of units
2011
2010
8
8
Selling space
all stores
sq. ft. 1000s
208
percent of
average sales
selling space
per sq. ft.
100%
$284
Family-owned, founded in 1945. Midpriced retailer with six stores in Louisiana and two in Texas. In Louisiana, operates two each in Lafayette and Baton Rouge and one each in Lake Charles and
New Iberia. In Texas, operates one each in Beaumont and Port Arthur. Also accepts orders over the Internet with approximately 1% of total sales from online. Units average 26,000 square feet.
Average stock turns, 7 times. Average gross margin, 47.5%. Has a social media presence through Facebook and Twitter.
84
Weekends Only Furniture Outlet $56.3
(90)
St. Louis
$49.2
14.4%
5
4
220
100%
$248
Family-owned, in business since 1996. Promotional to midpriced retailer operating five stores in the St. Louis market area in Fairview Heights, St. Peters, St. Louis, Bridgeton and Manchester.
Stores are only open Fridays, Saturdays and Sundays and carry first quality brand name furniture as well as closeouts, overstocks and one-of-a-kinds. Revenues other than sales, about $80,000.
Units average 44,200 square feet. Key vendors include Ashley, Coaster, Crownmark, Restonic, Serta and Southerland. Average stock turns, 6.26 times. In February 2011, opened a new unit in a
former Home Depot Expo in the St. Louis market, in Manchester. With nearly 70,000 square feet of selling space, the new showroom is the company’s largest store. Has a social media presence
through Facebook, Twitter, YouTube and Pinterest.
85
EBCO
(89)
Phoenix
$52.8
$48.8
8.2%
10
9
160
100%
$330
Privately owned La-Z-Boy licensee group operating in Arizona. Founded in 1982, the group has six La-Z-Boy Furniture Galleries in Phoenix and the surrounding areas of Mesa, Chandler, Glendale, Scottsdale and Goodyear; two in Tucson; one in Flagstaff; and a La-Z-Boy Bedrooms and Dining store in Glendale. Also accepts orders over the Internet. Units average 16,000 square feet.
Average stock turns, 8 times. Average gross margin, 52.3%. Last fall, opened a 9,000-square-foot La-Z-Boy Bedrooms and Dining Rooms store in Glendale in the same complex as one of its existing La-Z-Boy Furniture Galleries. The new concept store carries bedroom and dining room furniture from American Drew and Kincaid, both La-Z-Boy companies. Has a social media presence
through Facebook, Twitter and YouTube.
86
Walker Furniture
(94)
Las Vegas
$52.2
$45.4
14.9%
25
25
261
100%
$194
Fiscal years ended Jan. 31. Owned by principal stockholder Deanne Alterwitz and family. Founded in 1962. Promotional to high-end chain with a nine-acre campus in the northwest Las
Vegas Valley, including Walker Furniture, Walker Discount Desks and Walker Rooms & Outlet. Also operates a Walker Rooms & Outlet at its Warehouse location a few miles from the main
campus. Operates 13 Serta-exclusive Best Mattress satellite bedding specialty shops and eight Sealy-exclusive Mattress Discounters bedding shops throughout Nevada. Revenues other than
sales, $445,206. In-store galleries: Ashley and Serta, one each. Average stock turns, 3.63 times. Average gross margin, 49.5%. Has a social media presence through Facebook, Twitter, YouTube
and a company blog.
87
Kimbrell’s
(87)
Charlotte, N.C.
$52.2
$50.4
3.6%
50
54
NA
NA
NA
Fiscal year ends July 31. Founded in 1915. Promotional, credit-oriented chain operates 49 stores in the Carolinas and one store in Georgia. Credit income, $7 million. In 2011, relocated the
downtown store in Gaffney, S.C., to a better location on Floyd Baker Blvd., in a former Brown Furniture store, and the downtown store in Seneca, S.C., to a better location on Market St., in a
former Goody’s. Also closed Furniture Exchange in Concord, N.C., and one store each in Columbia, S.C., and Belmont, N.C., merging those operations with nearby showrooms. In March 2012,
opened a 45,000-square-foot showroom in Lumberton, N.C., in a fully renovated former Wal-Mart location. Has a social media presence through Facebook and YouTube.
88
Linder’s Furniture
(81)
Garden Grove, Calif.
$51.7
$60.1
-14.0%
11
11
NA
NA
NA
The privately owned, midpriced Southern California retailer began going-out-of-business sales at all 11 locations in November after entering into an alternative to bankruptcy called a general assignment for the benefit of creditors. The GOB sales continued until early this year. The retailer, which was founded more than 30 years ago, cited a lending squeeze and a business climate that
continued to deteriorate as reasons for closing.
89
Conlin’s Furniture
(88)
Billings, Mont.
$50.0
$49.0
2.0%
18
18
NA
100%
NA
Family-owned, midpriced chain serving the Great Plains. Founded in 1937. Operates 16 Conlin’s Furniture stores — six in Montana, including an outlet; six in North Dakota; two in South Dakota; and one each in Minnesota and Wyoming. Also operates two Al’s Furniture stores in Montana in Kalispell and Missoula. Stores offer product from a number of manufacturers including
Broyhill, La-Z-Boy, Palliser, Sealy and Simmons.
90
Easy Life Furniture
(85)
La Mirada, Calif.
$50.0
$55.0
-9.1%
18
19
NA
100%
NA
Privately owned, promotional to midpriced southern California retailer, in business since 1996. Currently operates 17 showrooms in the Los Angeles County, Orange County, San Bernadino County and Inland Empire area in Cerritos, City of Industry, Costa Mesa, Glendale, Laguna Hills, Murrieta, Northridge, Ontario, Oxnard, Palmdale, Pasadena, Riverside, Santa
Clarita, Torrance, Tustin and Victorville, including a clearance center in Bellflower. Stores carry a number of brand names including Broyhill, Coaster, Kathy Ireland Home, Klaussner,
Simmons, Trendwood and United Furniture Inds. In 2011, closed the store in Brea, Calif., in Orange County. Recently closed the store in West Los Angeles. Has a social media presence
through Facebook and Twitter.
91
Mealey’s Furniture
(93)
Warminster, Pa.
$49.9
$47.3
5.6%
6
5
306
100%
$163
Multi-generational, family-owned business, founded in 1970. Offers midpriced home furnishings in five full-serve Philadelphia area stores in Devon, Bensalem, Fairless Hills and Warminster,
Pa., and Moorestown, N.J., and in an outlet center in Morrisville, Pa. Stores offer a Mealey’s Cafe with free snacks, drinks and a play area for kids. Units average 51,000 square feet. Opened a
67,000-square-foot store in Devon, in October 2011. Will open a new store in the Allentown, Pa., area this fall. Has a social media presence through Facebook, Twitter, YouTube and a company blog.
92
Turner Furniture Holding Corp. $47.0
(91)
Thomasville, Ga.
$47.0
0.0%
13
13
416
100%
$120
Family-owned, founded in 1915. Operates 11 Ashley Furniture HomeStores in Thomasville and Columbus, Ga.; Tallahassee and Pensacola, Fla.; Mobile, Spanish Fort and Opelika, Ala.; Biloxi,
Miss.; Greensboro, Winston-Salem and Burlington, N.C.; and two Russell Turner’s Weekend Furniture Bargain Stores in Tallahassee, Fla., and Thomasville, Ga. The Bargain Stores are only open
Fridays through Mondays. Also sells online. Units average 32,000 square feet. Average stock turns, 4 times. Average gross margin, 46%. Other key vendors include Best Home Furnishings, Broyhill, Lane, Liberty and Sealy. Has a social media presence through Facebook.
NR = Not ranked
FT038-064i36 60
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62
FURNITURE |TODAY
MAY 21, 2012
Rank
93
Miskelly Furniture
(92)
Jackson, Miss.
2011
2010
$46.7
$46.7
Percent
change
2010 to 2011
0.1%
Number
of units
2011
2010
6
6
Selling space
all stores
sq. ft. 1000s
208
percent of
average sales
selling space
per sq. ft.
100%
$226
Family-owned, founded in 1978. Midpriced retailer serving central Mississippi with stores in Jackson, Madison, Ridgeland and Flowood. Operates its flagship store with 110,000 square feet of selling space in Jackson, a Miskelly Furniture with 36,000 square feet in Madison, Roomstore by Miskelly with 40,000 square feet in Jackson, a Sleepstore by Miskelly with 4,000 square feet in Ridgeland, a Sleepstore by Miskelly with 5,000 square feet in Flowood and a Clearance Store by Miskelly with 13,000 square feet in Jackson. Key vendors include Ashley, Flexsteel, Simmons, Serta and
Tempur-Pedic. Average stock turns, 7.1 times. Average gross margin, 47.6%. Same-store sales increased .75%. A remodel of the flagship store began in the fall of 2011 with a scheduled completion
by Memorial Day 2012, with a focus on an expanded mattress area, an in-store boutique featuring accent furniture, and the addition of outdoor furniture as a major category. Has a social media
presence through Facebook, Twitter, Pinterest, Instagram and blogs.
94
Belfort Furniture
(95)
Dulles, Va.
$46.6
$45.7
2.0%
5
5
105
100%
$443
Family-owned, promotional to upper-midpriced Washington-area retailer. Founded in 1987. Operates a midpriced Belfort Galleries, a promotional Belfort Basics, a Belfort Mattress, a Belfort Kidz,
and a Belfort Interiors — all on a 13.5-acre tract about 20 miles west of the White House. Average gross margin, 45%. In-store galleries: Kincaid, one, 2,900 square feet; Aspenhome, one, 3,500
square feet. Other key vendors include Bernhardt, Broyhill, Hooker, Huntington House, Legacy, Rowe and Universal. Has a social media presence through Facebook, Twitter and Pinterest.
95
KHF Holdings
(96)
Louisville, Ky.
$43.6
$44.0
-0.9%
5
4
245
100%
$178
Operates five promotional to midpriced Ashley Furniture HomeStores in greater Louisville and Indianapolis. Units average 49,000 square feet. Average gross margin, 47.9%. In March 2011,
opened an Ashley HomeStore in Castleton, Ind. May add one more store in the Louisville market this year. Has a social media presence through Facebook.
96
Gardiners Furniture
(100)
Baltimore
$42.7
$39.6
7.8%
5
5
240
100%
$178
Family-owned, midpriced Maryland retailer with stores in Towson, Catonsville, Westminster, Pasadena and Bel Air. Units average 48,000 square feet. Average stock turns, 4.5 times. Average gross
margin, 43.84%. In-store galleries: Broyhill and Aspenhome, three each. Other key vendors include Ashley, Hooker, Kincaid, Lane, Legacy, Simmons and Universal. Has a social media presence
through Facebook, Twitter and Pinterest.
97
Knoxville Wholesale Furniture
(NR)
Knoxville, Tenn.
$39.6
$36.2
9.4%
4
4
304
100%
$130
Family-owned, founded in 1992. Promotional to high-end retailer operating four stores in the Knoxville, Tenn., area including a clearance center and an Ashley Furniture HomeStore. Units average 76,000 square feet. In-store galleries: Broyhill, two, averaging 6,000 square feet; Lane, two, averaging 4,000 square feet. Other key vendors include Cheers, Corinthian, Cresent, Flexsteel, Jackson, Kincaid, Liberty, Serta and Universal. Last November, relocated its clearance center into a former Kmart building on Kingston Pike, near West Town Mall. With 112,000 square feet of selling
space, the store is more than twice the size of the previous clearance center and has an Ashley’s Furnish 123 within the store. Has a social media presence through Facebook.
98
Wellsville Carpet Town
(NR)
Weston Mills, N.Y.
$39.1
$31.8
22.9%
10
8
NA
85%
NA
Family-owned group with promotional to midpriced Ashley Furniture HomeStores and a Carpet Town Carpet One store in western New York state and Pennsylvania. Operations include six Ashley stores and an outlet in New York in the Buffalo, Rochester, Olean and Corning markets, and two in Pennsylvania in Altoona and Johnstown. The Carpet One store is attached to the Ashley
HomeStore in the Olean market in Weston Mills. Carpeting sales, $855,509. Other key vendors include Sealy and Simmons. Last year, acquired the HomeStores in Altoona and Johnstown, which
previously operated under R.H. Kuhn’s Roomful Express. After extensive renovations the two stores reopened during the summer. Plans to open two more units this year.
99
Carls
(78)
Coconut Creek, Fla.
$39.0
$63.0
-38.1%
3
9
NA
100%
NA
Founded in 1945, the midpriced to high-end South Florida retailer operates three showrooms in Broward County, in Fort Lauderdale, Pompano Beach and Coconut Creek. In October, Carls reached
a deal with unsecured creditors that will enable it to emerge from Chapter 11 protection this year. The retailer had filed for Chapter 11 bankruptcy protection in May 2011. Prior to the filing, Carls
had announced the closing of its two smaller stores in North Palm Beach and Stuart. Two other stores that were in the process of liquidating at the time of the filing were taken over by Top 100 retailers Havertys and Baer’s in Boca Raton and Kendall, respectively. Carls closed the remaining stores, leaving the company with three large showrooms — the 70,000-square-foot headquarters store
in Coconut Creek, the 55,000-square-foot store in Fort Lauderdale and the 60,000-square-foot Carls in Pompano Beach. Has a social media presence through Facebook.
100
Marlo Furniture
(98)
Forestville, Md.
$38.6
$39.1
-1.4%
4
4
320
100%
$121
Family-owned, promotional to midpriced chain serving the Beltway since 1955. Operates four stores in metro Washington in Forestville, Laurel and Rockville, Md., and Alexandria, Va. Units average 80,000 square feet and offer merchandise from a number of key suppliers including Ashley, Bernhardt, Broyhill, Lorenzo, Pulaski and Serta.
NR = Not ranked
FT038-064i36 62
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64 FURNITURE |TODAY
MAY 21, 2012
Who’s who among the leading stores
Company, home base, Web address
Rank
Company, home base, Web address
Rank
ABC Carpet & Home, New York, www.abchome.com................................................. 46
JCPenney Home Store, Plano, Texas, www.jcpenney.com ............................................ 74
American Furniture Warehouse, Englewood, Colo., www.afwonline.com ................ 23
Jennifer Convertibles, Woodbury, N.Y., www.jenniferfurniture.com .............................. 63
American Mattress, Elmhurst, Ill., www.americanmattress.com ..................................... 80
Jerome’s, San Diego, www.jeromes.com.......................................................................... 55
American Signature, Columbus, Ohio, www.vcf.com; www.asfurniture.com .................... 7
Kane’s Furniture, Pinellas Park, Fla., www.kanesfurniture.com ........................................ 44
America’s Mattress, Hoffman Estates, Ill., www.americasmattress.com.......................... 25
KHF Holdings, Louisville, Ky.
Arhaus Furniture, Walton Hills, Ohio, www.arhaus.com ................................................ 40
Kimbrell’s, Charlotte, N.C., www.kimbrells.com................................................................ 87
Art Van, Warren, Mich., www.artvan.com ......................................................................... 18
Kittle’s Furniture, Indianapolis, www.kittles.com ........................................................... 69
Ashley Furniture HomeStores, Arcadia, Wis., www.ashleyfurniturehomestore.com ....... 1
Knoxville Wholesale Furniture, Knoxville, Tenn.,
Back To Bed/Bedding Experts/Mattress Barn, Itasca, Ill.,
....................................................................................... 95
www.knoxvillewholesalefurniture.com ............................................................................... 97
www.backtobed.com; www.beddingexperts.com; www.mattressbarn.com ......................... 56
Lacks Valley Stores, Pharr, Texas, www.lacksvalley.com ................................................. 66
Badcock Home Furniture & more, Mulberry, Fla., www.badcock.com .................... 24
La-Z-Boy Furniture Galleries, Monroe, Mich., www.la-z-boy.com .............................. 11
Baer’s, Pompano Beach, Fla., www.baers.com ................................................................... 45
Levin Furniture, Smithton, Pa., www.levinfurniture.com ................................................. 39
Bassett Home Furnishings, Bassett, Va., www.bassettfurniture.com ............................ 26
Linder’s Furniture, Garden Grove, Calif. ...................................................................... 88
Belfort Furniture, Dulles, Va., www.belfortfurniture.com ................................................. 94
Living Spaces, Rancho Cucamonga, Calif., www.mylivingspaces.com ............................. 37
Berkshire Hathaway furniture division, Omaha, Neb.,
Louis Shanks of Texas, Austin, Texas, www.louisshanksfurniture.com ........................... 77
www.berkshirehathaway.com .............................................................................................. 5
Macy’s Furniture Gallery, New York, www.macys.com; www.bloomingdales.com ........ 34
Bernie & Phyl’s Furniture, Norton, Mass., www.bernieandphyls.com .......................... 54
Marlo Furniture, Forestville, Md., www.marlofurniture.com ......................................... 100
Big Sandy Superstore, Franklin Furnace, Ohio, www.bigsandysuperstore.com ............. 72
Mathis Brothers, Oklahoma City, www.mathisbrothers.com .......................................... 21
Bob’s Discount Furniture, Manchester, Conn., www.mybobs.com ............................. 15
Mattress Firm, Houston, www.mattfirm.com ................................................................. 10
Broad River Furniture, Charlotte, N.C.,
Mattress Giant, Addison, Texas
www.broadriverfurniture.com; www.savvyspaces.com ....................................................... 78
C.S. Wo & Sons, Honolulu, www.cswo.com ................................................................. 81
Carls, Coconut Creek, Fla., www.carls.com ........................................................................ 99
Chair King/Fortunoff Backyard Store, Houston, www.chairking.com ..................... 67
City Furniture, Fort Lauderdale, Fla., www.cityfurniture.com ........................................... 32
Conlin’s Furniture, Billings, Mont., www.conlins.com .................................................... 89
Cost Plus World Market, Oakland, Calif., www.worldmarket.com ............................... 22
Crate & Barrel, Northbrook, Ill., www.crateandbarrel.com ............................................. 12
Crest Furniture, Dayton, N.J., www.valuecitynj.com ....................................................... 60
Darvin Furniture, Orland Park, Ill., www.darvin.com ...................................................... 71
Design Within Reach, Stamford, Conn., www.dwr.com ............................................... 41
Easy Life Furniture, La Mirada, Calif., www.easylifefurniture.com ................................... 90
EBCO, Phoenix, www.lazboyaz.com ................................................................................ 85
El Dorado Furniture, Miami Gardens, Fla., www.eldoradofurniture.com........................ 42
Ethan Allen, Danbury, Conn., www.ethanallen.com......................................................... 14
FAMSA, Santa Fe Springs, Calif., www.famsa-usa.com ...................................................... 53
Farmers Home Furniture, Dublin, Ga., www.farmersfurniture.com.............................. 38
Furniture Factory Outlet, Muldrow, Okla., www.furniturefactoryoutlet.com ................ 82
Furniture Mart USA, Sioux Falls, S.D., www.thefurnituremartusa.com........................... 48
Furnitureland South, High Point, www.furniturelandsouth.com ................................... 47
Gallery Furniture, Houston, www.galleryfurniture.com.................................................. 50
Gardiners Furniture, Baltimore, www.gardiners.com ................................................... 96
Gardner-White, Warren, Mich., www.gardner-white.com ............................................... 59
Grand Home Furnishings, Roanoke, Va., www.grandhomefurnishings.com ................ 51
Havertys, Atlanta, www.havertys.com ............................................................................. 16
Haynes Furniture, Virginia Beach, Va., www.haynesfurniture.com; www.thedump.com ..... 28
Hill Country Holdings, New Braunfels, Texas
........................................................... 35
HOM Furniture, Coon Rapids, Minn., www.homfurniture.com; www.gabberts.com........ 33
Home Furniture, Lafayette, La., www.homefurn.com ..................................................... 83
Hudson’s, Sanford, Fla., www.hudsonsfurniture.com ......................................................... 79
Ikea, Conshohocken, Pa., www.IKEA-USA.com ....................................................................... 2
Innovative Mattress Solutions, Winfield, W. Va.,
www.innovativemattresssolutions.com .............................................................................. 68
FT026-036i36 64
.................................................................................. 36
Mealey’s Furniture, Warminster, Pa., www.mealeysfurniture.com .................................. 91
Miskelly Furniture, Jackson, Miss., www.miskellys.com .................................................. 93
Mor Furniture for Less, San Diego, www.morfurniture.com ........................................ 31
Morris Furniture, Dayton, Ohio, www.morrisathome.com .............................................. 70
Pier 1 Imports, Fort Worth, Texas, www.pier1.com ............................................................ 8
Raymour & Flanigan, Liverpool, N.Y., www.raymourflanigan.com .................................. 6
Regency Furniture, Brandywine, Md., www.myregencyfurniture.com ............................ 57
Restoration Hardware, Corte Madera, Calif., www.restorationhardware.com .............. 17
Room & Board, Minneapolis, www.roomandboard.com................................................ 27
Rooms To Go, Seffner, Fla., www.roomstogo.com .............................................................. 3
RoomStore, Richmond, Va., www.roomstore.com ............................................................ 30
Sam Levitz Furniture, Tucson, Ariz., www.samlevitz.com.............................................. 76
Schewel Furniture, Lynchburg, Va., www.schewels.com ................................................ 75
Select Comfort, Minneapolis, www.sleepnumber.com ................................................... 13
Sit ‘n Sleep, Gardena, Calif., www.sitnsleep.com.............................................................. 62
Sleep Train, Citrus Heights, Calif., www.sleeptrain.com;
www.sleepcountry.com; www.saveatmd.com .................................................................... 20
Sleepy’s, Hicksville, N.Y., www.sleepys.com .......................................................................... 9
Slumberland, Little Canada, Minn., www.slumberland.com ............................................ 19
Steinhafels, Waukesha, Wis., www.steinhafels.com ........................................................... 52
Stickley, Audi & Co., Manlius, N.Y., www.stickley.com .................................................. 58
The RoomPlace, Lombard, Ill., www.theroomplace.com ................................................. 43
The RoomStore, Phoenix, www.arizonaroomstore.com ............................................... 73
The Spencer Group, Saltillo, Miss. ............................................................................ 61
Thomasville Home Furnishings Stores, Thomasville, N.C., www.thomasville.com .... 29
Turner Furniture Holding Corp., Thomasville, Ga., www.turnersfinefurniture.com ..... 92
Walker Furniture, Las Vegas, www.walkerfurniture.com................................................. 86
Walter E. Smithe Furniture, Itasca, Ill., www.smithe.com............................................ 64
Weekends Only Furniture Outlet, St. Louis, www.weekendsonly.com ...................... 84
Wellsville Carpet Town, Weston Mills, N.Y. .............................................................. 98
Williams-Sonoma, San Francisco, www.williams-sonomainc.com .................................... 4
Wolf Furniture, Bellwood, Pa., www.wolffurniture.com ................................................... 65
Z Gallerie, Gardena, Calif., www.zgallerie.com ................................................................. 49
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TOP 100 - Broad River Furniture

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