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| FURNITURE, BEDDING, ACCESSORIES SALES IN $ MILLIONS | NUMBER OF UNITS | |||||
| RANK | COMPANY, HOME BASE AND NOTES | 2001 | 2000 | PERCENT CHANGE 2000 TO 2001 | 2001 | 2000 |
| NA = Not available NR – Not ranked R – Revised from updated information All sales information, except for that supplied by publicly held companies that break out furniture and bedding sales, are Furniture/Today market estimates. Source: Furniture/Today market research |
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| (LAST YEAR) | ||||||
| 1 | Rooms To Go | $1,260.0 | $1,050.0 | 20.0% | 90 | 84 |
| (2) | Seffner, Fla. | |||||
| Full-service, midpriced chain with stores throughout Florida and in Georgia, the Carolinas, Tennessee, Texas and Puerto Rico. At year end, operations included 63 regular-format stores, 18 Rooms To Go Kids stores and nine clearance centers. Sales and store count revised for 2000. Rooms To Go stores range from 16,000 to 25,000 square feet. Kids stores are about 8,000 square feet. Average stock turns, nine times. In August, Rooms To Go and Sun Capital Partners, an investment firm based in Boca Raton, Fla., acquired No. 18 Wickes Furniture. RTG is closing Wickes’ five stores in metro Dallas — the only market where the two chains had overlapping operations. RTG has no plans to close any other Wickes but is planning to open one unit in Los Angeles and is looking at opening two more stores in greater Chicago. The retailer plans to open its first bedding specialty store in Florida next spring. Completed work on a 375,000-square-foot distribution center in Charlotte, N.C., this summer, and soon will begin work on an 800,000- to 1 million-square-foot distribution center in Dallas to replace a smaller unit. | ||||||
| 2 | Ethan Allen | $1,170.5 | $1,192.7 | -1.9% | 285 | 281 |
| (1) | Danbury, Conn. | $1,224.3 total revenues | ||||
| Oldest and largest network of manufacturers’ gallery stores, including 93 company-owned and 192 dealer-owned stores in the United States. Also operates 29 stores in Canada, Mexico, Brazil, the United Arab Emirates, South Korea, Japan, Taiwan, the Philippines, Bangladesh, Dominican Republic, Kuwait and Egypt, figures not included. Furniture, bedding and decorative accessories sales from company-owned U.S. stores, approximately $427.7 million in 2001 and $399.9 million in 2000. This fall, as a result of manufacturing efficiencies, Ethan Allen announced it would pass the savings on to its consumers, lowering its prices by up to 20% on many collections. Ethan Allen is looking to attract young families with its lowered pricing and renewed focus on youth. | ||||||
| 3 | Levitz Home Furnishings | $900.0 | $893.0 | 0.8% | 110 | 113 |
| (NA) | Woodbury, N.Y. | $915.0 total revenues | ||||
| Fiscal years ended March 31. Results for 2000 for Levitz were adjusted to reflect the March 31 fiscal year and the deduction of fabric protection revenues from the sales figure. Owned by Levitz Home Furnishings and chaired by James Rubin, co-chairman of Resurgence Asset Management, the largest shareholder in LHFI. Includes 59 promotional to midpriced Levitz stores and 51 promotional to midpriced Seaman’s stores, including nine Seaman’s Kids units, at year-end. Fabric protection revenues, $15 million. Units average 45,000 square feet for Levitz, 23,000 square feet for Seaman’s and 6,000 square feet for Seaman’s Kids. Levitz has three Bassett in-store galleries averaging 4,000 square feet. Average stock turns, 6.5 times for Seaman’s and 3.5 times for Levitz. Average gross margin, 48.6% for Seaman’s and 46.8% for Levitz. Levitz emerged from Chapter 11 bankruptcy protection early in 2001 linked to Seaman’s under the new LHFI company. Since the merger, the company has opened a 1 million-square-foot distribution center in Robbinsville, N.J., and the company is looking to open a 600,000- to 800,000-square-foot central distribution center in Los Angeles to replace five smaller facilities— although that plan is on hold at this time. Late in the fiscal year, Levitz opened a store in Ontario, Calif. Seaman’s opened a store in Harlem, N.Y., and exited Ohio with the sale of its eight Cleveland units and two in northern Ohio to Sofa Express. Also acquired 18 former HomeLife Furniture leases — 10 in California, six in Philadelphia and one each in Washington and Arizona. Sixteen of the stores have since reopened as Levitz and two as Seaman’s. Seaman’s also has opened two Kids stores this year in Fairfield, N.J. and King of Prussia, Pa. LFHI currently operates 55 Seaman’s stores and 73 Levitz stores. | ||||||
| 4 | Pier 1 Imports | $857.9 | $776.9 | 10.4% | 891 | 798 |
| (5) | Fort Worth, Texas | $1,441.5 total revenues | ||||
| Fiscal years ended March 2 and March 3. Publicly held specialist in imported midpriced home furnishings and related merchandise. At fiscal year-end operated 974 stores in total — 884 in the United States, seven in Puerto Rico, 44 stores in Canada, 16 stores in Mexico within Sears de Mexico, and 23 stores outside North America. Includes sales of about $16.2 million in 2001 for 18-unit Cargo. Sales from other merchandise areas, $582.6 million. Delivery income, $1.25 million. Sales outside the United States and Puerto Rico of $107.4 million in 2001 and $96.2 million in 2000 have been excluded. About $934,000 in royalties and sales from the eight franchised stores is not included. Units average 7,544 square feet for Pier 1 stores and 2,828 square feet for Cargo Furniture stores. Average stock turns, 2.3 times for Pier 1 and 3.8 times for Cargo. Average gross margin, 53.8% for Pier 1 and 32.2% for Cargo. In February 2001, purchased the youth-oriented Cargo Furniture chain. Pier 1 has since changed the name to CargoKids!, offering children’s home furnishings. In 2002, Pier 1 is rolling out larger-format stores in major markets as part of aggressive expansion plans this year and in following years. The retailer recently opened 18,000- to 20,000-square-foot stores in Dallas; St. Louis, Mo.; and South Hampton, N.Y., with plans to open approximately 50 across the United States over the next few years. Other larger-format store openings for this year include units in Denver and Houston and possibly two to three others. Pier 1 plans to open 115 to 120 stores and close or relocate 30 units this year. Pier 1 also plans to open about a dozen new CargoKids! stores this fiscal year with several opening in Charlotte, NC, a new market. Next year, will add another 20 units, including its first store in Florida. | ||||||
| 5 | La-Z-Boy Furniture Galleries | $836.2 | $743.7 | 12.4% | 287 | 283 |
| (6) | Monroe, Mich. | $893.8 total revenues | ||||
| Network of independently owned, free-standing units with 21 Showcase Shoppes and 266 Furniture Galleries in the United States. Fabric protection and delivery charges, $57.6 million. Revenues from the 13 La-Z-Boy stores in Canada, $43.2 million in 2001; the 12 La-Z-Boy stores in Canada, $37.8 million in 2000; and the one store outside North America are not included. The company continues to grow its Furniture Galleries business through expansion and relocation of Showcase Shoppes to larger spaces with a broader assortment, incorporating upholstery and occasional furniture from the Kincaid and Hammary divisions. Showcase Shoppes average 7,877 square feet; Furniture Galleries, 13,069 square feet. Average stock turns, 6.3 times. In 2001, opened 12 Furniture Galleries including six using the Store of Tomorrow concept; converted two Showcase Shoppes to Furniture Galleries and closed four Showcase Shoppes and four Furniture Galleries. In June 2001, introduced its Store of Tomorrow concept at its dealer conference. The new concept gallery store features updated interior and exterior signage, higher ceilings, a larger showroom of about 15,500 square feet and a centrally located design center. The new galleries offer an expanded selection of home accents as well as additional accent furniture from Hammary. In October, La-Z-Boy opened its 300th store and the 27th store under the New Generation format — the new name for the Store of Tomorrow concept. La-Z-Boy plans to end the year with a new 39 New Generation stores and about 310 total stores. La-Z-Boy retailers in the Top 100 are C.S. Wo & Sons and McMahan’s. | ||||||
| 6 | Berkshire Hathaway furniture division | $832.7 | $830.6 | 0.3% | 27 | 26 |
| (4) | Omaha, Neb. | $1,307.6 total revenues | ||||
| Owns Nebraska Furniture Mart in Omaha, Neb.; R.C. Willey of Salt Lake City; Star Furniture of Houston; and the entertainment-oriented Jordan’s Furniture of Avon, Mass. NFM operates a 450,000-square-foot complex, including the main furniture showroom, a Mrs. B’s Clearance & Factory Outlet store and an Appliance & Electronics Superstore on a 77-acre site in Omaha. NFM also operates Homemakers Furniture of Iowa with one store each in Des Moines and Urbandale, Iowa. R.C. Willey operates 11 stores — one each in Boise, Idaho, and Henderson, Nev. — and nine stores in the northern part of Utah: five in metro Salt Lake City, including a clearance center and a carpet outlet; and one each in Syracuse, Orem, the Riverdale/Ogden area, and an outlet center in Provo. Star operates nine stores, including a clearance center, in Houston, Austin, San Antonio and Bryan/College Station, Texas. Jordan’s operates four stores — two in metro Boston in Avon and Waltham, and one each in Natick, Mass., and Nashua, N.H. Revenues from other merchandise, $382.8 million. Revenues other than sales, $92.1 million. Unit size varies by retailer with the NFM complex totaling 450,000 square feet, R.C. Willey stores averaging 100,000 square feet with the most recent store at 125,000 square feet, Star stores ranging from 50,000 to 100,000 square feet and Jordan’s ranging from 31,000 square feet in Nashua to 110,000 square feet of display in Natick. In-store galleries: eight Broyhill and eight La-Z-Boy at R.C. Willey; and seven Thomasville and seven Kincaid galleries at Star. In 2001, Star Furniture doubled the size of its outlet store to 85,000 square feet and expanded its warehouse by 100,000 square feet. In September 2001, R.C. Willey opened its first store in Las Vegas — a 162,500-square-foot complex with 125,000 square feet of selling space. NFM has begun construction of a new store in Kansas City to open in 2003 and has completed the first phase of a new warehouse and distribution center to be completed in 2003. Star remodeled and expanded the size of its headquarters store to 135,000 square feet and broke ground on a 100,000-square-foot store outside of Houston, in Sugarland, Texas, expected to open in January. R.C. Willey is planning a new store in Summerlin, Nev., to open in April 2003. Jordan’s expanded its Natick store by 35,000 square feet and added a 262-seat, three-dimensional IMAX theater and a 6,000-square-foot Bose store. Other plans for Jordan’s include a new store location in Reading, Mass., to open in 2004, 3D IMAX theaters in selected stores and a new distribution facility to open in 2003. | ||||||
| 7 | IKEA | $826.0 | $670.0 | 23.3% | 15 | 14 |
| (11) | Plymouth Meeting, Pa. | $1,300.0 total revenues | ||||
| Fiscal years ended Aug. 31. Sweden-based specialist with a large ready-to-assemble business. Fifteen of 23 North American stores at fiscal year-end are in the United States; two full-line stores in metro New York; four in metro Los Angeles; and one each in Houston, metro Philadelphia, Washington, Baltimore, Pittsburgh, Chicago, San Francisco Bay area, Seattle and San Diego. The latter two are franchise operations. Revenues from Canadian stores and units outside North America are not included. Phone order sales from a Baltimore call center are included. Sales from other merchandise areas and the restaurant, $474 million. Units average 200,000 square feet of selling space for furniture and non-furniture products. In September 2000, opened a 200,000-square-foot franchise store in San Diego. In November 2001, relocated its Washington, D.C., area store in Woodbridge, Va., expanding to 300,000 square feet from 160,000 square feet. Beginning in 2003, Ikea plans to open 50 stores over the following 10 years, focusing on serving existing markets and then moving into new markets. To support its expansion plans, Ikea is building two distribution centers in two phases of approximately 850,000 square feet. The first phase of one of the distribution centers opened January 2002 in Tejon Ranch, Calif., north of Los Angeles. The first phase of the second distribution center will be opening in late 2002 in Perryville, Md. Future plans include relocating the Plymouth Meeting store to Philadelphia in January 2003; relocating the Tustin, Calif., store in spring 2003; opening stores in Paramus, N.J., and College Park, Md., in summer 2003; relocating the City of Industry store to Covina, Calif., in the summer 2003; and opening its first store in the Boston area in Somerville, Mass., in the summer of 2004. Effective June 1, 2001, Pernille Spiers-Lopez became the first woman and first non-Swede president of Ikea North America. She replaced Jan Kjellman, who returned to Sweden. | ||||||
| 8 | Havertys | $678.1 | $680.9 | -0.4% | 103 | 106 |
| (7) | Atlanta | $689.2 total revenues | ||||
| Publicly held, full-service, midpriced to upper-end chain with 103 stores in 68 cities in 14 southern and central states at year-end. Credit income, $11.1 million. Stores average 34,200 square feet of selling space. Major lines include Bernhardt, Broyhill, Clayton Marcus, Keller, Lane, La-Z-Boy, Pulaski, Schnadig, Sealy, Serta, Thomasville and Universal. Average stock turns, 3.3 times. Average gross margin, excluding warehousing, occupancy and purchasing department expenses, 47.7%. In 2001, opened three stores, including a newly constructed store in Austin, Texas; a remodeled former furniture store in Port Richey near Tampa, Fla.; and a replacement store in Naples, Fla. The retailer closed six stores, including one clearance center. In 2002, plans to open 11 stores, one of which was an acquired Roberds location, remodeled and opened February 2002 in Atlanta. Three other stores will be replacement stores in existing markets — two will be remodeled former HomeLife Furniture stores in Pensacola, Fla., and Richmond, Va., and the other will be a newly constructed store in Arlington, Texas. The remaining seven will be remodeled former HomeLife stores in four new markets — one each in Clearwater and Daytona Beach, Fla.; three in Orlando, Fla.; and two in Washington, D.C. In August, began operating a 511,000-square-foot regional distribution center in Braselton, Ga., replacing two smaller distribution centers in Atlanta and Charlotte, N.C. | ||||||
| 9 | Value City | $675.0 | $625.3 | 7.9% | 76 | 74 |
| (9) | Columbus, Ohio | |||||
| Owned by Schottenstein Stores Corp. Fiscal years ended July 28 and July 29. Full-service, promotional to midpriced chain in Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, Missouri, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, Washington, D.C., and West Virginia. Owns five factories making product primarily for Value City. Revenues from manufacturing operations are not included. In-store galleries include Englander and Kroehler. For fiscal year ending July 28, 2001, opened two stores in Detroit, one in Columbus, Ohio, and one in St. Louis, Mo. Also closed two stores. In June 2002, opened a 50,000-square-foot American Signature Furniture store in the Nashville, Tenn., suburb of Franklin. The new format takes a more upscale approach to display and features the retailer’s exclusive American Signature line, with prices starting at the high end of Value City’s spectrum and moving up from there. | ||||||
| 10 | Art Van | $575.0 | $575.0 | 0.0% | 28 | 28 |
| (10) | Warren, Mich. | |||||
| Family-owned, full-service, midpriced to high-end Michigan chain with 12 stores in metro Detroit, two each in Flint and Grand Rapids and one each in Saginaw, Bay City, Lansing, Jackson, Kalamazoo, Muskegon, Holland, Ann Arbor, Port Huron, Battle Creek, Howell and Traverse City, Mich. In January 2001, completed the expansion of its distribution center in Warren to 750,000 square feet. The expanded center includes a new 53,000-square-foot automated storage and retrieval system, with racks up to its 100-foot-plus ceilings. Completed the remodel and expansion to 83,000 square feet of its Westland metro Detroit store; and remodeled and expanded its Shelby Township metro Detroit store to 82,500 square feet. This fall, Art Van opened a 75,000-square-foot Port Huron store, replacing a 49,000-square-foot unit. Later this year, will open a former Scott Shuptrine store in Petoskey in northwest Michigan as Art Van. Scott Shuptrine, owned by the Van Elslander family, which also owns Art Van, began liquidation sales at its three stores in late September. The Petoskey store will be Art Van’s 29th store. By the end of 2003, the retailer plans to open its 30th and 31st storesin Chesterfield Township and Rochester, respectively. | ||||||
| 11 | Rhodes | $515.8 | $469.4 | 9.9% | 89 | 86 |
| (13) | Atlanta | $541.5 total revenues | ||||
| Fiscal years ended Feb. 28. Primarily midpriced retailer operating in 13 Southern and Midwestern states. Fabric protection and other non-merchandise revenues, $25.7 million. Units average 36,695 square feet. Last June, Rhodes acquired three-store John M. Smyth’s Homemakers from Heilig-Meyers in Chicago. This year, Rhodes opened three former HomeLife stores in Chicago as Homemakers, doubling its presence in the Chicago area. | ||||||
| 12 | Thomasville Home Furnishings Stores | $475.0 | $468.0 | 1.5% | 130 | 120 |
| (14) | Thomasville, N.C. | |||||
| Owned by Furniture Brands International. Network of independently owned, midpriced to high-end, free-standing gallery stores in or near major metropolitan areas. Figures and store counts exclude 18 international units, including 11 in Canada and stores in Mexico, Japan, the Dominican Republic, Trinidad and Shanghai, China. Store count for 2000 has been revised to exclude Canadian units. In 2001, Thomasville opened 23 stores, including one in Winnipeg, Alberta, Canada. Also closed about 10 stores in a major repositioning of distribution in the metropolitan markets of New Jersey, Philadelphia and San Francisco. Stores will be opened in these markets during 2002–2003. Opened its first company-owned store in San Jose, Calif., earlier this year. Expects to have 165 stores by the end of 2002 and 250 Thomasville stores by the end of 2006. Thomasville store dealers at year-end on the Top 100 include Kittle’s, Mathis Bros., South Dakota Furniture Mart and Wood-Armfield. | ||||||
| 13 | W.S. Badcock | $395.0 | $386.6 | 2.2% | 338 | 341 |
| (16) | Mulberry, Fla. | $503.0 total revenues | ||||
| Southeastern chain of promotional to midpriced, credit-oriented stores, both company owned and dealer owned, operating primarily as Badcock Home Furnishings Centers but changing to the new Badcock Home Furniture & more. Revenues from carpeting, electronics, appliances and other non-furniture merchandise, $108 million. Units average 14,336 square feet. Average stock turns, 5.6 times. Continues to convert its older stores to its new prototype, Badcock Home Furniture & more stores, with a total of about 90 conversions expected by the end of the year. Is on track to convert about 50 or more stores a year or about 60% of its network by the end of 2004, down from original plans. Converted stores have been running average sales increases of 23% to 25% in their first year under the new format. The retailer also plans to open 60 new stores over the next several years. This fall, announced plans to move into Virginia, West Virginia, Kentucky and eastern North Carolina — markets where Heilig-Meyers was once strong. To serve these new markets, the company plans to build a new distribution center in central or southern Virginia to be up and running in early 2004. | ||||||
| 14 | The Bombay Company | $384.0 | $373.4 | 2.8% | 365 | 356 |
| (17) | Fort Worth, Texas | $388.8 total revenues | ||||
| Fiscal years ended Feb. 2 and Feb. 3. Publicly held specialty chain with stores in 41 states and nine Canadian provinces. Figures do not include 54 Canadian units with revenues of $48.7 million in 2001 and 52 Canadian units with revenues of $48 million in 2000. Figures also do not include revenues of about $2 million from Bombay’s wholesale subsidiary, Bailey Street Trading Co. that was launched late in 2000. Delivery and other income, $2.8 million. Occasional furniture, primarily ready-to-assemble, accounts for 44% of sales; lamps and seasonal merchandise account for 9% of sales, and the balance is from wall décor and accessories. Stores average 2,499 square feet. Average stock turns, 2.1 times. Average gross margin, 49%. In 2001, opened 28 stores, closed 19 and converted 15 stores to the larger format. In September 2001, began selling the Bombay KIDS line through its catalog and Internet site. In 2002, the company plans to open approximately 25 new stores, close six and convert four to six stores from the regular to the large format. Included in the store openings will be seven outlet stores as well as six Bombay KIDS stores. The first Bombay KIDS retail store opened in Dallas in March. | ||||||
| 15 | The RoomStore/Heilig-Meyers | $373.0 | $1,000.0 | -62.7% | 67 | 576 |
| (3) | Richmond, Va. | $397.2 total revenues | ||||
| Fiscal years ended Feb. 28. Sales include $319 million from The RoomStore and $54 million in furniture, bedding and accessories sales from the winddown of the flagship Heilig-Meyers division. Estimated sales of $24.2 million from electronics, appliances and other non-furniture goods are not included. Heilig-Meyers filed for Chapter 11 bankruptcy protection in August 2000. In April 2001, with losses mounting, the company said it would close its remaining Heilig-Meyers stores, look to sell its three-store John M. Smyth’s Homemakers chain in Chicago and focus solely on The RoomStore, led by President Curtis Kimbrell. The RoomStore operates 67 stores in greater Baltimore/Washington, D.C., Richmond, Va., Charleston, S.C. and other North Carolina and Virginia markets on the East Coast, and in Dallas, Houston, Austin and San Antonio, Texas, in the West. Atlanta-based Rhodes purchased Homemakers in June. The RoomStore has moved its corporate office and staff out of Heilig-Meyers’ former headquarters to a nearby office park and plans to emerge from the bankruptcy proceeding as a 67-store chain. | ||||||
| 16 | Breuners Home Furnishings Corp. | $367.9 | $406.4 | -9.5% | 48 | 53 |
| (15) | Lancaster, Pa. | $374.6 total revenues | ||||
| Fiscal years ended Jan. 31. Majority shareholder Apollo Management LP with minority interest held by Kamm Theodore. Midpriced to high-end stores operating under four retail brands at fiscal year-end: Breuners on the West Coast and Huffman Koos, Good’s Furniture and Wayside Furniture in the Northeast. Operated 10 stores under Breuners in Northern California; 18 Good’s stores; 12 Huffman Koos in the Northeast; and eight Wayside stores in Connecticut. Delivery income, $6.7 million. Units average 39,022 square feet of selling space. Average stock turns, 2.7 times. Average gross margin, 43.1%. Last year, the company completed the process of moving away from manufacturer’s galleries by closing or converting Thomasville stores to full-line units and eliminating Thomasville in-store galleries as well as Wayside’s Drexel Heritage store. Last summer, opened a Huffman Koos store in Woodbridge, N.J., part of a continuing plan to open new format stores arranged by category and lifestyle and away from manufacturer’s gallery presentations. Combined Wayside’s Designs To Go and Outsville stores into a clearance center. Closed a Breuners in Modesto, Calif. Also closed four Arnolds stores, including a clearance center, in Kearny Mesa, San Marcos and Miramar, Calif. Earlier this year, merged the Wayside Furniture stores into the Huffman Koos chain in a cost-cutting and brand-building move. The Wayside name was changed to Huffman Koos. | ||||||
| 17 | Pottery Barn | $345.0 | $305.0 | 13.1% | 169 | 144 |
| (21) | San Francisco | |||||
| Fiscal years ended Feb. 3 and Jan. 28. Publicly held specialty home furnishings retailer operating 145 Pottery Barn stores, including two in Toronto and 27 Pottery Barn Kids, including one in Toronto at year-end. Figures do not include the three Canadian stores. A division of Williams-Sonoma, Pottery Barn also sells through its catalogs and e-commerce sites. In 2001, opened 15 Pottery Barn stores and 19 Pottery Barn Kids stores, including its first ones in Canada that opened in late October and early November. Also closed six smaller format Pottery Barn stores. Store openings for 2002 include 18 Pottery Barn stores and 29 Potter Barn Kids stores, incluidng one of each in Toronto. Will also close three Pottery Barn stores. The Web site for Pottery Barn Kids was launched in 2001. During the first quarter of this year, the company tested a new catalog called West Elm, which targets the young consumer looking to furnish and accessorize their apartments or first homes. The product categories in the catalog include furniture, decorative accessories, tabletop items and textiles. | ||||||
| 18 | Wickes Furniture | $345.0 | $335.0 | 3.0% | 38 | 38 |
| (19) | Wheeling, Ill. | |||||
| Chain of midpriced warehouse showrooms and satellite stores: 13 in Chicago, eight in the Los Angeles area, six in Dallas/Fort Worth, five in Minneapolis, three in Pittsburgh and three in Portland, Ore. Units average 50,000 square feet. In August of 2002, Wickes was acquired by Rooms To Go and Sun Capital Partners. Wickes’ five stores in metro Dallas are being closed because of the overlap with RTG’s stores. Future Wickes openings include a unit in Los Angeles and possibly two more stores in greater Chicago. A new unit in Pasadena, Calif. — a former HomeLife Furniture store — opened early this year. | ||||||
| 19 | Crate & Barrel | $326.0 | $300.0 | 8.7% | 106 | 94 |
| (22) | Northbrook, Ill. | $744.0 total revenues | ||||
| Fiscal years ended Feb. 3 and Jan. 28. Lifestyle specialty retailer carrying midpriced to high-end furniture, primarily in 30 furniture stores in these metro markets: four in New York, four in Chicago, three each in Boston and San Francisco, two each in Dallas, Denver, Los Angeles, Phoenix and Washington, D.C., and one each in Atlanta, Detroit, Seattle, Philadelphia, Sacramento, Calif., and Houston. Sales from gifts, tabletop and other housewares, $418 million. In 2001, opened 12 stores, including five carrying furniture — two in San Francisco and one each in Phoenix, Sacramento and Houston. Store openings in 2002 included six carrying furniture — one each in San Francisco, Chicago, Washington, D.C., Atlanta, New York and Los Angeles. The retailer is looking to open three more of its CB2 stores — Crate & Barrel currently operates one CB2 in Chicago. The store is geared to the younger consumer offering primarily housewares but also furniture, including chairs and home office. The retailer is looking to open one more site in Chicago and two in New York. | ||||||
| 20 | Raymour & Flanigan | $315.6 | $280.9 | 12.4% | 43 | 39 |
| (23) | Liverpool, N.Y. | $320.8 total revenues | ||||
| Family-owned, full-service, midpriced Northeastern chain with stores in New York, Massachusetts, Connecticut, Pennsylvania and New Jersey. Miscellaneous and credit income, $5.1 million. Showrooms are gallerized, averaging 50,000 square feet. Average stock turns 4.4 times. Average gross margin, 42.8%. In 2001, opened units in Woodlyn, Abington and Allentown, Pa., and reopened the store in Niagara Falls, N.Y., which had closed in 2000 for remodeling. Remodeled stores in Newington, Conn., and Deptford, N.J., to match the retailer’s new prototype facade and interior. Also in 2001, opened a new 320,000-square-foot distribution center in Gibbstown, N.J. In 2002, planned to open five greater Philadelphia stores in Montgomeryville, Philadelphia, King of Prussia and Exton, Pa., and Egg Harbor, N.J., in the Atlantic City area; and five New York and Connecticut stores in Danbury, Orange and Waterbury, Conn.; and Clay and Henrietta, N.Y. The 70,000-square-foot Henrietta store replaces a smaller store. | ||||||
| 21 | American Furniture Warehouse | $286.1 | $275.0 | 4.0% | 9 | 9 |
| (24) | Englewood, Colo. | $286.8 total revenues | ||||
| Full-service, primarily promotional to midpriced chain operating nine Colorado units — five in the Denver area, and one each in Glenwood Springs, Fort Collins, Pueblo, and Colorado Springs. Does not include sales from the Loren Mitchell upholstery manufacturing plant owned by American President Jake Jabs. Credit income and fabric protection revenue, $700,000. Units average 87,000 square feet. In-store galleries: Loren Mitchell, eight, averaging 3,500 square feet; Simmons, nine, averaging 1,500 square feet. Average stock turns, 8.5 times. Average gross margin, 35%. | ||||||
| 22 | Slumberland | $272.1 | $270.3 | 0.7% | 71 | 69 |
| (25) | Little Canada, Minn. | |||||
| Family-owned, midpriced retailer specializing in home furnishing products for the bedroom, great room and kitchen. Operates 30 corporate stores and 41 franchised units throughout Minnesota, Wisconsin, Illinois, Iowa, Nebraska, North Dakota and South Dakota. Units range from 10,000 to 35,000 square feet. In 2001, opened a second corporate store in Madison, Wis., and a third distribution center in Beresford, S.D., with an attached Outlet Center. | ||||||
| 23 | Select Comfort | $251.2 | $270.1 | -7.0% | 328 | 333 |
| (26) | Minneapolis | $261.7 total revenues | ||||
| Publicly held, vertically integrated air bed specialist and direct marketer with 328 retail stores, including 22 leased departments in Bed Bath and Beyond stores. Sales of approximately 4% or $10 million, through its wholesale channel (QVC shopping channel and home furnishings retailers) are excluded. Stores are primarily mall-based locations in 46 states. Units average about 900 square feet. Average gross margin, 65.6%. In 2001, opened 11 stores and closed 16. Expanded its wholesaling relationship with Gabberts to include two stores in Dallas. Also established a wholesaling relationship with Benchmark. Will continue to develop wholesaling relationships with other home furnishings retailers and expand its relationship with QVC. | ||||||
| 24 | The Mattress Firm | $249.4 | $226.0 | 10.4% | 307 | 270 |
| (28) | Houston | |||||
| Fiscal years ended Jan. 29 and Jan. 30. Fast-growing bedding specialty retailer with 129 franchised-owned stores and 178 company-owned units at year-end. Greatest number of stores in Houston, Dallas, Atlanta, Phoenix, Denver and San Antonio. Units average 3,800 square feet. Carries Sealy and Stearns & Foster exclusively. Last year, opened a net 37 stores, including its first franchised units in Fort Wayne, Ind., and Santa Fe, N.M., as well as stores in Phoenix, Salt Lake City; Atlanta, Kansas City; Dallas and Houston, among other markets. Earlier this year, opened stores in Jacksonville, Fla., and Baton Rouge, La., and closed all six stores in Cleveland.. In March of this year, The Mattress Firm swapped stores with Mattress Discounters, purchasing eight store leases in the Tampa, Fla., area and selling all four of its Richmond, Va., area stores. Plans to end the year with 315 stores. In October, The Mattress Firm was sold to an affiliate (Sun Mattress) of Sun Capital Partners, an investment firm that has stakes in several other home furnishings retailers and manufacturers. Under new ownership, the bedding retailer may start offering other vendors’ products in addition to Sealy. | ||||||
| 25 | Mattress Discounters | $242.4 | $260.4 | -6.9% | 300 | 295 |
| (27) | Upper Marlboro, Md. | |||||
| Bedding specialist operating stores in 13 markets. Carries Sealy and Comfort Source brand mattresses manufactured in the company’s two manufacturing facilities exclusively. Includes sales from retail operations only. Units average 4,000 square feet. In August 2001, exited the Denver market, closing all 14 stores and a distribution center. In March of this year, Mattress Discounters swapped stores with The Mattress Firm, purchasing four store leases in the Richmond, Va., area and selling eight store leases in the Tampa, Fla., area. In October, Mattress Discounters filed for Chapter 11 bankruptcy protection with plans to close 99 stores in California, Michigan and Florida and sell an additional 53 stores in California. The 53 stores in California along with two distribution centers would be sold to Sleep Train. Mattress Discounters also has sold its 58-store Chicagoland Bedding Experts chain to Mattress World. | ||||||
| 26 | Bassett Furniture Direct | $241.2 | $206.4 | 16.9% | 68 | 58 |
| (32) | Bassett, Va. | |||||
| Fiscal years ended Nov. 30 and Dec. 3. Network of independently owned and operated dedicated manufacturer gallery stores with midpriced product line. Units average 20,422 square feet. Average gross margin, 46% to 48%. In the past fiscal year, entered the new markets of Mesa, Ariz.; Eugene, Ore.; Omaha, Neb.; Cocoa, Fla.; Frederick, Md.; Rockford, Ill.; Buffalo, N.Y.; Canton, Ohio; and Puerto Rico. Plans to open 15 or more stores in 2002, including ones in the new markets of Rochester, N.Y.; northern New Jersey; Ontario, Calif.; Chicago; Portland, Ore; and the Connecticut/New England area. BFD retailers on the Top 100 include The RoomStore of Phoenix. | ||||||
| 27 | Finger Furniture | $226.0 | $212.0 | 6.6% | 6 | 6 |
| (31) | Houston | |||||
| Six full-service, midpriced stores in metro Houston. Units range from 40,000 to 250,000 square feet. | ||||||
| 28 | Robb & Stucky | $222.0 | $220.0 | 0.9% | 13 | 13 |
| (29) | Fort Myers, Fla. | |||||
| Design-oriented, lifestyle chain of midpriced to high-end stores with three in Fort Myers, including a Robb & Stucky Patio store and a clearance outlet; three in Naples, Fla., including a patio store and a clearance outlet; two in Sarasota, Fla., including a patio store; two in Scottsdale, Ariz., including a patio store; and one each in Orlando and Clearwater, Fla., and Plano, Texas. Also sells carpeting, revenues not included. Units range from 50,000 to 100,000 square feet for the main showrooms and 10,000 square feet for the patio stores. Average stock turns, 3.2 times. In January 2001, remodeled and added 30,000 square feet to the Sarasota, Fla., store. Also in 2001, completed a 180,000-square-foot warehouse in Lincolnton, N.C., replacing a smaller warehouse in Old Fort, N.C. Robb & Stucky will open its first store in Boca Raton, on Florida’s east coast, at the end of the first quarter of 2003. | ||||||
| 29 | Sleepy’s | $221.0 | $206.0 | 7.3% | 234 | 218 |
| (33) | Bethpage, N.Y. | |||||
| Bedding specialty chain in New York, New Jersey, Connecticut, Pennsylvania and Delaware. Figures include 12 Kleinsleep stores in metro New York and from Sleepy’s telemarketing division. Units average 4,000 square feet. In 2001, opened 35 stores and closed 19. Plans to end 2002 with 260 stores. | ||||||
| 30 | Cost Plus | $195.0 | $165.0 | 18.2% | 150 | 127 |
| (38) | Oakland, Calif. | $568.5 total revenues | ||||
| Fiscal years ended Feb. 2 and Feb. 3. Publicly held specialist in imported casual home furnishings and home entertainment. The retailer operates stores in 19 states, primarily in the West but also in the Midwest and in the Southeast, in Virginia, North Carolina, Georgia and Alabama. Sales from other merchandise areas, $373.5 million. Units average 16,000 square feet. During the third and fourth quarters of last year, added bedroom and bathroom furnishings and accessories to its home furnishings assortment. Cost Plus opened a distribution center in Isle of Wight County, Va., near Norfolk, this past April. Plans to open a total of 25 stores by the end of its fiscal year. | ||||||
| 31 | Boyles Furniture | $192.1 | $173.0 | 11.0% | 14 | 14 |
| (36) | Hickory, N.C. | $193.0 total revenues | ||||
| Owned by Larry Hendricks. High-end, discount North Carolina retailer with six stores in Hickory, three in Charlotte including a clearance center, two in High Point and one in Mocksville. Operations include two Drexel Heritage Home Inspirations by Boyles, Hendrick’s Furniture in Mocksville, Boyles Clearance Center and Boyles Country Shop. Also operates two Norris Furniture stores — in Fort Myers and Naples, Fla. Fabric protection revenues, $900,000. Units average 35,200 square feet. Opened Boyles Sleep to Live Center, a 1,400-square-foot sleep shop carrying Kingsdown bedding, this past summer in Winston-Salem, N.C. | ||||||
| 32 | City Furniture | $186.5 | $168.1 | 10.9% | 13 | 12 |
| (37) | Tamarac, Fla. | |||||
| Full-service, primarily midpriced chain in South Florida with four stores in metro Miami, six in the Fort Lauderdale area, and three in the Boca Raton-West Palm Beach market. Units average 38,000 square feet. In November 2001, opened a new 660,000-square-foot warehouse, showroom and headquarters complex in Tamarac, a suburb of Fort Lauderdale. The new center supports additional categories of patio and home office furniture and store expansion, with units planned for Broward County, Palm Beach County and two for west Dade County. The first of the four new stores opened in Broward County in Fort Lauderdale in October of this year. The 56,000-square-foot unit replaces a 10,000-square-foot unit in the market. The other units are scheduled to open in 2003–2004. City Furniture is building a 62,000-square-foot factory in New Albany, Miss., to strengthen its offering of midpriced stationary upholstery. The Kevin Charles Furniture factory is expected to start production this month. | ||||||
| 33 | Mattress Giant | $183.0 | $180.0 | 1.7% | 225 | 200 |
| (34) | Addison, Texas | |||||
| Bedding specialist with 225 stores at year-end in Texas, Florida, Missouri, Minnesota, Illinois, New Hampshire, Pennsylvania, Delaware, Maryland, Massachusetts and New Jersey. Units average 5,000 square feet. Earlier this year, CEO Phil Lang left the company. Barrie Brown succeeds him. | ||||||
| 34 | Mathis Bros. | $169.7 | $144.7 | 17.3% | 6 | 5 |
| (42) | Oklahoma City | |||||
| Full-service, promotional to high-end stores, four in Oklahoma City — a main Mathis Brothers showroom, a Thomasville Home Furnishings store, a Drexel Heritage Home Inspirations store and a promotional Factory Direct Furniture & Beds store — and one each in Tulsa, Okla., and Indio, Calif. Has ownership stake in Factory Direct bedding factory — revenues not included. In-store galleries include Henredon, Ralph Lauren, Century and Bernhardt. Average stock turns, 5.8 times. In September 2001, opened a 16,500-square-foot Drexel Heritage Home Inspirations store, its first, in Oklahoma City. The store is part of a 56,000-square-foot center, which also includes a warehouse and a Bijan Oriental rug gallery — the rug gallery opened in early 2002. In January 2002, Mathis Bros. opened a 205,000-square-foot superstore and warehouse in Tulsa replacing a 50,000-square-foot store and warehouse. The smaller unit has been converted to a Factory Direct Furniture & Beds unit. The new superstore has 100,000 square feet of showroom and offices. This spring, will begin a 100,000-square-foot expansion of its Indio, Calif., unit. The showroom and warehouse will each be 100,000 square feet when the project is completed. Mathis Bros.’ plan for a 312,000-square-foot store and warehouse in Dallas have been pushed back, with an opening now expected in fall 2004. | ||||||
| 35 | Furnitureland South | $165.0 | $178.0 | -7.3% | 1 | 1 |
| (35) | High Point | |||||
| Owned by Darrell Harris and family. Full-service, midpriced to high-end discount retailer operating an 870,000-square-foot complex, including a 350,000-square-foot main store, a 420,000-square-foot FLS Mart, adjacent to the main store, and a 100,000-square-foot clearance center. Also operates a 70,000-square-foot midpriced store in High Point called Furnitureland Too — revenues, square footage and store count not included in the figures. Operations include about 70 manufacturer galleries, including a 30,000-square-foot Drexel Heritage Home Inspirations gallery. Other galleries include Century, 15,000 square feet; Bernhardt, Lexington, Stanley, each 10,000 square feet; Hickory White, 7,000 square feet; Broyhill, 15,000 square feet; Lane and Pennsylvania House, each 8,000 square feet. Average stock turns, nine times. In 2001, opened a 250,000-square-foot distribution center at its main store site consolidating six other warehouses. Also converted 100,000 square feet of the second level of its office and distribution center to a clearance center late last year. In 2002, planned to break ground on a 60,000-square-foot expansion that would connect its main showroom to its FLS Mart. The retailer is also considering eventually opening a 250,000-square-foot store in Wilmington, N.C., its first store outside of the High Point area, though a timetable is not set. | ||||||
| 36 | Kane’s Furniture | $164.0 | $151.5 | 8.3% | 13 | 13 |
| (41) | Pinellas Park, Fla. | |||||
| Full-service, midpriced stores, primarily on Florida’s west coast; three stores in Orlando, two in Tampa and one each in Fort Myers, Port Charlotte, Sarasota, Clearwater, New Port Richey, St. Petersburg, Ocala and Melbourne. Units average 60,000 square feet. Earlier this year, opened a 60,000-square-foot store in Sarasota, replacing an old unit there. Other plans include opening additional stores in the Tampa and Orlando markets. | ||||||
| 37 | ABC Carpet & Home | $160.0 | $140.0 | 14.3% | 3 | 3 |
| (43) | New York | $200.0 total revenues | ||||
| Privately owned, full-service, high-end specialty home furnishings retailer. Sales include a large business in area and handmade rugs. At year-end, operated its flagship store in Manhattan that includes a 250,000-square-foot, 10-level store with three floors of furniture and a rug store located across the street; a 60,000-square-foot ABC full-line store in Delray Beach, Fla.; and an ABC Carpet and Home Warehouse Outlet in the Bronx. ABC also runs the rug department at Harrod’s in London, revenues included. Revenues from carpeting, broadloom, home textiles, electronics, housewares, food items and the restaurant, $40 million. Late last year, remodeled the second floor of the Manhattan store. The remodeled floor features modern furniture and modern classics from the 1950s and ’60s. This summer, opened a 45,000-square-foot warehouse store in Hackensack, N.J., and an ABC On-The-Road in the Tanger Mall on Long Island. In October 2002, opened a 40,000-square-foot ABC Carpet and Home Warehouse in Brooklyn. | ||||||
| 38 | Jennifer Convertibles | $158.0 | $156.0 | 1.3% | 191 | 179 |
| (39) | Woodbury, N.Y. | |||||
| Publicly held leather and sofa-sleeper specialist with 172 Jennifer Convertibles, 17 Jennifer Leather and two Jennifer Living Rooms stores. At year-end, owned 115 and licensed 76 stores in Arizona, California, Connecticut, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Virginia, and Washington, D.C. Units average 3,000 square feet. In 2001, opened 11 Jennifer Convertibles and one Jennifer Leather. In 2002, planned to open a total of seven stores. The company’s expansion strategy is focused on Jennifer Convertibles, featuring Jennifer Leather galleries. | ||||||
| 39 | Ashley Home Stores | $140.0 | NA | NA | 70 | 40 |
| (NR) | Arcadia, Wis. | |||||
| Fast-growing manufacturer’s retail store network of 69 licensed and one company-owned promotional to midpriced stores in the United States. Figures exclude five stores in Canada, three in Japan and one in the Dominican Republic. Stores are located in Alabama, Alaska, Arkansas, Arizona, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Minnesota, Mississippi, Missouri, Montana, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, South Dakota, Texas, Utah and Wisconsin. Units average 30,000 square feet. In 2001, opened 35 stores and closed five. Ashley Home Store retailers on the Top 100 include South Dakota Furniture Mart. | ||||||
| 40 | Bob’s Discount Furniture | $135.0 | $111.0 | 21.6% | 16 | 18 |
| (50) | Manchester, Conn. | |||||
| Owned by Gene Rosenberg, Anja Rosenberg and Bob Kaufman. Promotional to midpriced chain with 12 stores in Connecticut, two in Massachusetts and two in New Hampshire. Units average 32,300 square feet. In the first quarter of 2001, completed the expansion of its distribution center in Taftville, Conn., adding 72,000 square feet. Opened an 87,000- square-foot unit with a clearance center in Norwich Town Mall in Norwich, Conn., in May 2001. Closed its Pittsfield, Mass., store because of a leasing change and two other smaller stores that no longer fit the retailer’s merchandising and display strategy. In 2002, the retailer completed a renovation of its flagship store in Manchester, Conn., expanding the showroom to more than 60,000 square feet from 24,000 square feet. Also acquired three HomeLife Furniture locations in Saugus and Stoughton, Mass., and Nashua, N.H., which it planned to open this summer and fall. Will expand by another 75,000 square feet the distribution center in Taftville, Conn., by March 2003. | ||||||
| 41 | Gallery Furniture | $132.0 | $102.5 | 28.8% | 1 | 1 |
| (56) | Houston | $148.0 total revenues | ||||
| Promotional to midpriced store, known for relentless promoting and its high-energy, colorful president, Jim McIngvale. Sales from electronics, $9 million. Delivery charges, finance income, investment income and other non-merchandise revenues, $7 million. Uses roughly 90,000 square feet of display space including a selling tent. Average stock turns, 45 times. Average gross margin, 50%. | ||||||
| 42 | HOM Furniture | $127.2 | $109.0 | 16.7% | 9 | 9 |
| (52) | Coon Rapids, Minn. | $129.4 total revenues | ||||
| Family-owned, midpriced to high-end chain. At year end, operated eight HOM Furniture stores — five in greater Minneapolis/St. Paul (Bloomington, Crystal, Coon Rapids, Woodbury and Roseville, Minn.), one each in Sioux City, Iowa; Fargo, N.D.; and Duluth, Minn.; and one HOM Bedroom Express in Sioux Falls, S.D. Units range from 10,000 to 82,500 square feet. Average stock turns, 4.5 times. In-store galleries: Kincaid, five, averaging 4,000 square feet. This year, HOM opened stores in Sioux Falls, S.D., in the Minneapolis/St. Paul area in Lakeville and in Plymouth, Minn. Plans to open a 100,000-square-foot unit early next year to replace the Duluth unit. | ||||||
| 43 | Nationwide Warehouse & Storage | $125.0 | $219.1 | -42.9% | 109 | 159 |
| (30) | Norcross, Ga. | |||||
| Privately held, full-service, promotional retailer with 107 stores in the United States, two in Puerto Rico and 11 in Canada at year-end. Figures do not include the Canadian stores. Stores operate as Nationwide Mattress and Furniture Warehouse, Grand Furniture Warehouse and Nationwide Warehouse & Storage. In October, Nationwide filed for Chapter 11 bankruptcy protection, brought in Rick Meiser as chief executive officer and wrapped up the closing of more than 40 stores, exiting the states of Idaho, Illinois, Kansas, Kentucky and Texas in the process. This year, after defaulting on its debtor-in-possession financing, the retailer asked the U.S. Bankruptcy Court for permission to close additional stores, then sell off the remaining 63 units in 20 states at auction along with its Norcross, Ga., headquarters. In May, the U.S. Bankrupcty Court approved the sale of Nationwide Warehouse & Storage to Nationwide Furniture, an affiliate of the private investment firm Sun Capital Partners. | ||||||
| 44 | Drexel Heritage Home Inspirations | $123.0 | $127.0 | -3.1% | 30 | 30 |
| (20) | Drexel, N.C. | |||||
| Owned by Furniture Brands International. Network of independently owned, primarily free-standing stores. Figures reflect dedicated store sales only. The one store in Canada and the one in Saudi Arabia are not included in the figures. Units average 14,500 square feet. Late last year, Furniture Brands International, which also owns Thomasville, acquired Drexel Heritage from LifeStyle Furnishings International. By the end of the year, Drexel Heritage had reclassified two-thirds of its former store dealers as in-store galleries, leaving 30 free-standing, dedicated Drexel Heritage Home Inspirations stores. The 2000 sales figure and store count have been revised to reflect this change. In addition to the reclassification, the company is upgrading its store program with new exterior and interior features. Nine new stores are scheduled to open in 2002 incorporating these new features. This year, stores have opened in Rochester, Minn.; Plano, Texas; and Atlanta. Six others are planned to open this year in Portland, Maine; Denver; Brookfield, Conn.; San Diego and Pleasanton, Calif.; and Lexington, Ky. Drexel Heritage store dealers on the Top 100 include Boyles, Mastercraft Interiors, Mathis Bros. and Furnitureland South. By the end of 2006, the company expects to have 150 stores. | ||||||
| 45 | Haynes Furniture | $122.0 | $108.0 | 13.0% | 9 | 8 |
| (53) | Virginia Beach, Va. | $141.0 total revenues | ||||
| Privately owned, full-service, promotional to high-end chain with three Haynes stores and three Dump clearance centers in the Tidewater area and Richmond, Va.; one Haynes store in North Carolina; and two high-end discount stores operating as The North Carolina Co. in Richmond and Virginia Beach, Va. Carpet sales about $12 million. Credit income about $7 million. Average stock turns, five times. Average gross margin, 42%. In September 2001, opened a smaller format Haynes store — 6,500 square feet — in the Outer Banks of North Carolina in Kitty Hawk. | ||||||
| 46 | Restoration Hardware | $120.0 | $139.1 | -13.7% | 101 | 103 |
| (44) | Corte Madera, Calif. | $366.5 total revenues | ||||
| Fiscal years ended Feb. 2 and Feb. 3. Publicly held, specialty lifestyle-oriented home furnishings retailer with stores in 31 states, Washington, D.C., and in Canada. Figures do not include the three Canadian stores. Other merchandise sales including hardware, housewares, domestics, books, garden items and chandeliers, $246.5 million. Units average 6,000 square feet of selling space. In 2001, opened one store in San Jose, Calif., and closed three — New York, Memphis and Schaumberg, Ill. As part of the retailer’s repositioning strategy, the number of items in the merchandise assortment was reduced by 30% during the second half of last year. Under-performing products were eliminated and new products were introduced, including an expansion of furniture segments such as beds and outdoor. In addition, the company remodeled and refixtured stores. It also completely redesigned its catalog and Web site. In April, Restoration Hardware opened a store in Durham, N.C., incorporating all of these changes. | ||||||
| 47 | El Dorado Furniture | $114.1 | $94.0 | 21.3% | 7 | 7 |
| (61) | Miami Gardens, Fla. | |||||
| Owned by the Capo family. Full-service, midpriced to high-end South Florida chain with five stores in greater Miami and one store each in Pembroke Pines and Plantation. Units average 67,494 square feet. Average stock turns, 4.7 times. Late last summer, opened a superstore in Pembroke Pines, and in October, opened one in Hialeah. Both stores are in the Boulevard format and are approximately 110,000 square feet. Also closed two stores last year. In 2002, will open two units. | ||||||
| 48 | Carls | $113.1 | $122.0 | -7.3% | 14 | 14 |
| (46) | Boca Raton, Fla. | |||||
| Full-service, midpriced to high-end South Florida chain operating nine Carls furniture stores and five Carls Patio shops at year-end. Furniture units average 44,000 square feet; patio shops average 10,000 square feet. In-store galleries: Bernhardt, eight, averaging 6,000 square feet. In November, opened a 70,000-square-foot flagship store and 15,000-square-foot Carls Patio in Coconut Creek. The new stores are part of a 400,000-square-foot showroom, distribution center and office complex. In January 2003, Carls plans to open a 94,000-square-foot store in northern Miami, housing a Carls store and a patio store. In 2003, will add a 12,000-square-foot patio store in Stuart as well as an additional 15,000 square feet to the furniture store there. | ||||||
| 49 | Rockaway Bedding | $110.0 | $107.0 | 2.8% | 156 | 140 |
| (54) | Randolph, N.J. | |||||
| Promotional to high-end bedding specialty chain with 53 stores in New York, 60 in New Jersey, 31 in Pennsylvania, eight in Delaware, and two each in Connecticut and Maryland. Units average 3,000 square feet. Average stock turns, 40 times. Average gross margin, 50%. In 2001, opened 20 stores, including those in the new markets of Maryland and Connecticut, and closed four. Plans to end 2002 with 165 stores. | ||||||
| 50 | Homestead House | $110.0 | $125.0 | -12.0% | 14 | 16 |
| (45) | Broomfield, Colo. | |||||
| Full-service, primarily upper-end chain with dual headquarters in Broomfield, near Denver, and Anaheim, Calif. Operates eight stores in metro Los Angeles; one in San Diego; two in metro Denver; and one each in Fort Collins, Colo.; Albuquerque N.M.; and El Paso, Texas. Manufacturing sales from its Touchstone manufacturing operations are not included. Early in 2001, closed its Riverside and Montclair stores, both in the greater Los Angeles market. In May of this year, opened its first Touchstone Design Studio & Furniture store in Fort Collins, Colo. The retailer converted its former Homestead House unit into the Touchstone store, offering its exclusive brand of product. In September, Homestead House opened its first clearance center in Westminster, Colo., in a former HomeLife location. This summer, Homestead House centralized its management, naming Archie Hall as president. | ||||||
| 51 | Storehouse/Home Elements | $109.7 | $120.5 | -9.0% | 63 | 60 |
| (47) | McLean, Va. | $114.0 total revenues | ||||
| Fiscal year ended Nov. 30. Owned by The Rowe Cos., which also owns upholstery producers Rowe Furniture and The Mitchell Gold Co. Storehouse is a midpriced to upscale, design-oriented chain with 42-company-owned and one franchise store across the Southeast, Southwest and the Mid-Atlantic markets of Washington, D.C., Baltimore, and Philadelphia. At year-end, operated 20 company-owned stores primarily in Virginia, Maryland, Michigan and Florida. 2001 store count includes two Storehouse units that closed on the last day of the fiscal year. Other income, $4.3 million. Units average 10,000 square feet for Storehouse and 6,000 square feet for Home Elements. Last year, opened five stores and closed two. This summer, Rowe completed the merger of its Home Elements and Storehouse chains into one Storehouse division based in Atlanta. Three distribution centers in Laurel, Md., Atlanta and Houston will serve all stores. | ||||||
| 52 | Harlem Furniture | $108.0 | $95.1 | 13.6% | 13 | 12 |
| (59) | Lombard, Ill. | |||||
| Family-owned company operating 13 promotional to midpriced stores in metro Chicago. Units average 25,000 square feet. Average stock turns, 6.5 times. In January 2001, opened one store in Morton Grove, Ill. In September, began rebranding itself as The Room Place at Harlem Furniture. In February 2002, opened a 27,000-square-foot store in Aurora, Ill., with an updated interior and exterior, replacing a smaller unit. In June, will open a 28,000-square-foot store in Orland Park, Ill., at a former HomeLife Furniture location that will be fully renovated. Plans to bring its new look to at least one more store this year and update all remaining stores over the next five years. | ||||||
| 53 | Norwalk – The Furniture Idea | $104.9 | $117.6 | -10.8% | 79 | 82 |
| (48) | Norwalk, Ohio | |||||
| Network of 65 franchised and 14 company-owned midpriced upholstery specialty stores in the United States. Figures exclude eight stores in Canada, with combined sales of $7.1 million in 2001 and $5.1 million in 2000. Units average 4,150 square feet. Average stock turns, 12 to 15 times. Average gross margin, 50%. In 2001, opened stores in Plano, Texas; Brea, Calif.; Shreveport, La.; Melbourne, Fla.; and Columbia, S.C. Also closed eight units. Planned to open six stores in 2002, including units in Palm Desert and Valencia, Calif.; Sterling, Va.; and Myrtle Beach, S.C.. Closed one unit early this year in Littleton, Colo. | ||||||
| 54 | Baer’s | $102.0 | $95.0 | 7.4% | 14 | 13 |
| (60) | Pompano Beach, Fla. | $103.0 total revenues | ||||
| Family-owned, midpriced to high-end full-service South Florida chain with 12 stores on the Atlantic coast side, including a clearance center and two stores on the Gulf Coast side in Naples and Fort Myers. Non-merchandise income, $1 million. Units average 33,000 square feet. In-store galleries: Drexel Heritage, Broyhill, Henredon, Lexington, Berkline and Natuzzi. Average stock turns, two times. In November 2001, Baer’s opened a 65,000-square-foot unit in Fort Myers, Fla., its second on Florida’s Gulf Coast. In 2003, the retailer may open a store in either Sarasota or in Dade County. | ||||||
| 55 | Kittle’s | $100.5 | $104.6 | -3.9% | 17 | 17 |
| (55) | Indianapolis | |||||
| Full-service, promotional to high-end Indiana and Ohio chain with nine stores in Indianapolis — two Kittle’s, four Kittle’s Rooms Express, one Design Studio, one Ethan Allen and one Kittle’s Clearance and Factory Outlet — and one Kittle’s store each in Bloomington, Anderson, Lafayette and Fort Wayne, Ind. Also operates two Kittle’s Superstores, one Thomasville Home Furnishings Store and one Design Studio in Columbus, Ohio. In-store galleries: Thomasville, six, ranging from 7,500 square feet to 12,000 square feet; Drexel-Heritage, three, averaging 8,000 square feet; Henredon, three, averaging 5,000 square feet; Ralph Lauren, three, averaging 2,000 square feet; and Kincaid, eight, averaging 5,000 square feet. Average stock turns, 3.2 times. Average gross margin, 44.5%. In 2001, moved one Rooms Express to a better location and remodeled and expanded the Fort Wayne store by 32,500 square feet, adding high-end goods and promotional room packages to the midpriced store. This is the first time the retailer has brought its high-end Design studio and promotional Rooms Express formats under one roof. In 2002, plans to open one Rooms Express store and one Thomasville Home Furnishings Store in Indianapolis. | ||||||
| 56 | Farmers Furniture | $99.0 | $88.0 | 12.5% | 129 | 114 |
| (65) | Dublin, Ga. | $188.0 total revenues | ||||
| Family-owned, full-service, promotional to midpriced Southeast chain with stores primarily in Georgia but also in Alabama, Florida, North Carolina and South Carolina. Sales of electronics, appliances, lawn mowers and outdoor goods, about $48 million. Revenues other than sales, about $41 million. Units average 14,500 square feet. In 2001, opened 15 stores including eight stores in North Carolina — a new state. | ||||||
| 57 | Gabberts | $98.5 | $115.5 | -14.7% | 4 | 4 |
| (49) | Minneapolis | $111.1 total revenues | ||||
| Full-service, midpriced to high-end retailer with one store in Minneapolis/St. Paul; two in Dallas, including Gabberts Furniture Outlet; and one in Fort Worth, Texas. Sales from custom draperies and other non-furniture items, $9.2 million. Finance charge income, $3.3 million. Units average 91,093 square feet. In 2001, remodeled its Dallas store, adding about 5,000 square feet of display space for a total of about 85,000 square feet. The new interior is divided into four “style realms.” Three of the realms are further broken down into sub-category lifestyles allowing the consumer to move quickly to those sections of the store that interest them. Stores in Fort Worth and Minneapolis also will be remodeled based on the Dallas project — no timetable has been set. | ||||||
| 58 | Super Stores of America | $97.9 | $61.5 | 59.2% | 13 | 12 |
| (85) | San Diego | $101.1 total revenues | ||||
| Fiscal years ended Sept. 27. Licensee of The Bedroom Superstore. Owned and operated by Rick Haux Jr. operating under the names The Bedroom Superstore and Mor Furniture for Less. Thirteen stores: three each in San Diego and Seattle and one each in Fresno and Bakersfield, Calif.; Spokane, Wash.; Portland, Ore.; Boise, Idaho; Albuquerque, N.M.; and Reno, Nev. Revenues other than sales, $3.2 million. Average stock turns, 8.5 times. Average gross margin, 38.1%. In 2001, opened a Mor Furniture for Less in Albuquerque, N.M. Converted the two America’s Sofa Superstores to Mor Furniture for Less. Plans to open about five Mor Furniture for Less stores in 2002–2003 — three in Arizona and two in California. Will also continue to convert The Bedroom Superstores to the Mor Furniture for Less concept until all operate under that one trade name. | ||||||
| 59 | Leath/Modernage | $97.5 | $100.1 | -2.6% | 28 | 27 |
| (57) | Atlanta | |||||
| Full-service, midpriced retailer operates 22 Leath stores in the Midwest and six Modernage stores in Florida. Units average 25,000 square feet. In-store galleries: England Corsair, eight, averaging 4,500 square feet, and La-Z-Boy, two, averaging 5,000 square feet. Average stock turns, three times. In 2001, opened Leath stores in Clinton, Iowa, and Richmond, Ind. Also closed one of two Leath stores in Madison, Wis. | ||||||
| 60 | Rose Furniture | $95.0 | $88.4 | 7.5% | 3 | 3 |
| (64) | High Point | |||||
| Full-service, midpriced to upper-end discount retailer. Operates a 163,000-square-foot main Rose showroom and 40,000- and 15,000-square-foot clearance centers in High Point. In-store galleries: Bernhardt, Broyhill, Carsons, Century, Councill-Craftsmen, Henkel-Harris, Hickory Chair, Hickory White, La Barge, Pennsylvania House, Rowe, Statton, Thomasville, Hooker, Cochrane and Lane. Early in 2001, consolidated five of its six warehouses into a new 300,000-square-foot, racked distribution center in Archdale, N.C. Also remodeled the interior of one of its stores. | ||||||
| 61 | Dial-A-Mattress | $94.5 | $92.5 | 2.2% | 69 | 46 |
| (62) | Long Island City, N.Y. | |||||
| Privately held bedding specialist and direct marketer with 56 company-owned stores — primarily in New York, but also in Connecticut, California, New Jersey and Maryland and 13 franchised units in North Carolina, Georgia, Illinois and Indiana. Operates under the name 1-800-Mattress. Also has a dealer network that delivers product sold over the phone. Approximately 25% of sales come from the retail stores, 70% from telemarketing and 5% from the Internet. Average stock turns, 18 times. Average gross margin, 48%. In 2001, opened 23 stores — four franchised units and 19 company-owned. Plans to have a total of 75 stores by the end of the year. | ||||||
| 62 | The RoomStore | $93.8 | $78.2 | 19.9% | 11 | 10 |
| (67) | Phoenix | |||||
| Owned by Alan Levitz, Phillip Levitz and Dan Selznick. Promotional to midpriced room-package specialty retailer with 11 stores in metro Phoenix, including four Bassett Furniture Direct stores. Phillip Levitz is majority owner of The RoomSource, with two room-package stores in Sacramento, Calif., revenues not included. RoomStore units average 20,000 square feet. Bassett Furniture Direct units average 26,000 square feet. Average stock turns, 12.5 times. Opened its fourth BFD in Mesa, Ariz., last year. | ||||||
| 63 | Room & Board | $93.0 | $98.0 | -5.1% | 9 | 9 |
| (58) | Minneapolis | |||||
| Midpriced classic contemporary specialty stores, three in Minneapolis/St. Paul, including an outlet store, one in Denver and three in the Chicago area operating as Room & Board. Also operates two stores under the name Retrospect in the Twin Cities and in Chicago. Units average 20,000 square feet. Average stock turns, four times. Average gross margin, 44%. In 2002, planned to open a Room & Board and a Retrospect in southern California. | ||||||
| 64 | Grand Home Furnishings | $92.0 | $110.8 | -17.0% | 16 | 17 |
| (51) | Roanoke, Va. | $98.5 total revenues | ||||
| Privately owned, full-service, mostly midpriced chain operating stores throughout Virginia’s Shenandoah Valley with three stores in Roanoke, including a higher-priced Grand Interiors store and an outlet store; and one each in Bristol, Charlottesville, Christiansburg, Covington, Harrisonburg, Lexington, Lynchburg, Norton, Staunton, Waynesboro and Winchester. Also has stores in Johnson City and Kingsport, Tenn. Appliances and electronics sales, $6.5 million. In August 2001, closed the downtown Charlottesville and Lynchburg, Va., stores, reducing the number of stores in those two cities to one each. In October 2001, opened a 30,000-square-foot Grand Home Furnishings store in Norton, Va. Also opened a 1,000-square-foot Thomas Kinkade Signature Gallery in the Winchester, Va., store. The retailer discontinued and liquidated the product lines of appliances and electronics in 2001. | ||||||
| 65 | Jerome’s | $91.6 | $76.8 | 19.3% | 5 | 5 |
| (69) | San Diego | |||||
| Full-service, promotional to midpriced chain with stores in San Diego, San Marcos, Chula Vista, El Cajon and Scripps Ranch. Stores average 70,000 square feet. In-store galleries: GuildCraft, four, averaging 2,500 square feet; Wickline Bedding, four, averaging 2,500 square feet. Average stock turns, eight times. Average gross margin, 40%. In 2001, converted its 48,000-square-foot downtown showroom and office to existing warehouse space. | ||||||
| 66 | Sofa Express | $91.1 | $66.5 | 37.0% | 18 | 13 |
| (76) | Groveport, Ohio | $97.1 total revenues | ||||
| Privately held, living room and family room specialty retailer emphasizing quick delivery of both stock and custom orders. At year-end, operated eight Sofa Express stores in Columbus, Ohio, including an outlet unit; six Sofa Express stores in Cincinnati, including a leather specialty store and an outlet store; three Sofa Express stores in Dayton, Ohio, and one Sofa Express unit in Indianapolis. Fabric and leather protection revenues and credit and delivery income, about $6 million. Units range from 6,000 square feet to 80,000 square feet. Average stock turns, 6.5 times. In 2001, opened five stores, including one in Indianapolis — a new market. In January 2002, opened its ninth unit in Columbus. Also, assuming the leases on eight Seaman’s locations in Ohio — five in Cleveland, two in Akron and one in North Canton. All three markets are new for Sofa Express. In September, Klaussner Furniture Inds. acquired Sofa Express as well as Madison, Tenn.-based Sofa Connection, which operates stores under the name Sofa Connection in Nashville, Florida and Las Vegas and under the name Carolina Sofa in the Carolinas. All stores will eventually be under the Sofa Express name. This fall, Sofa Express opened a 65,000-square-foot distribution center in Laurens, S.C. | ||||||
| 67 | Levin Furniture | $90.5 | $83.3 | 8.7% | 11 | 11 |
| (66) | Smithton, Pa. | $93.2 total revenues | ||||
| Full-service, midpriced chain with six stores in Pittsburgh and five in the Cleveland/Canton, Ohio, area. Fabric protection revenues, $2.7 million. Units average 43,512 square feet. In-store galleries: Kincaid, averaging 2,500 square feet. Average stock turns, 3.4 times. Average gross margin, 46%. Last summer, replaced a 22,000-square-foot unit with a 74,600-square-foot superstore in Pittsburgh. Earlier this year, replaced a 27,000-square-foot unit with an 88,000-square-foot store in greater Pittsburgh. This fall, opened a 90,000-square-foot store in the Oakwood Village suburb of Cleveland, replacing a smaller unit. Next spring, plans to open a 75,000-square-foot store on the east side of Pittsburgh, replacing a 26,000-square-foot store. | ||||||
| 68 | American Home | $89.0 | $90.0 | -1.1% | 9 | 8 |
| (63) | Albuquerque, N.M. | $103.0 total revenues | ||||
| Fiscal years ended Jan. 31 and Jan. 30. Formerly known as American Home Furnishings. Full-service, midpriced to high-end retailer with five stores in Albuquerque, two in Tucson, Ariz., and one each in Santa Fe and Farmington, N.M. Operates as American Home, American Warehouse Plus, American Home Design and American Home Outlet. Tabletop, gifts, floor coverings and domestics revenues, $14 million. In-store galleries: Karastan, one, 800 square feet. In November 2001, opened a 25,000-square-foot American Home Outlet store in Albuquerque, N.M. This May will complete an 180,000-square-foot expansion of its warehouse/distribution center in Albuquerque to about 350,000 square feet. Also will complete a remodeling project of its Tucson flagship store. Future plans include expanding and remodeling its flagship store in Albuquerque, increasing selling space by about 75,000 square feet. | ||||||
| 69 | Krause’s Furniture | $87.6 | $155.3 | -43.6% | 26 | 101 |
| (40) | Brea, Calif. | |||||
| Owned by The Hakakian Group. Vertically integrated sofa specialty chain operating as Krause’s Custom Crafted Furniture as well as Castro Convertibles in New York. Includes approximately $71.1 million from the first seven months of 2001 while publicly held, $14 million in going-out-of-business sales and about $2.5 million for the last six weeks under the new ownership. Alex Hakakian of The Hakakian Group owns five Leather Expo stores in southern California, revenues not included. Last July, the former Krause’s filed for Chapter 11 bankruptcy protection, first liquidating 32 of its 89 stores, then giving up the reorganization effort and liquidating the rest late in the year. In October 2001, The Hakakian Group, led by Alex Hakakian, bought certain Krause’s assets, including the Brea, Calif., factory equipment, with a plan to reopen 40 units across the country and add merchandise from other suppliers to the mix. By early this year, the company had opened 29 stores in California, Arizona, Washington and New York. But Krause’s troubles, including consumers’ negative perceptions from the GOB sales and bankruptcy, proved too difficult to overcome. In the spring, Hakakian scaled back operations to 11 Southern California stores. Then, on July 19, the owner closed the 11 remaining stores to prepare for going-out-of-business sales, ending the company’s nearly 30-year history. | ||||||
| 70 | Benchmark Home Furnishings | $85.0 | $66.0 | 28.8% | 2 | 6 |
| (77) | Olathe, Kan. | |||||
| Owned by the Davidow family. Midpriced to upscale retailer with a 400,000-square-foot Benchmark Express complex, which features the main Express showroom and an attached showroom dedicated primarily to Furniture Brand International’s Thomasville, Lane and Broyhill lines. Sales figures exclude sales from electronics and other non-merchandise revenues. Last year, the retailer consolidated all business at its four-store, 110,000-square-foot complex in nearby Lenexa, Kansas, into its Benchmark Express complex. | ||||||
| 71 | Lack’s | $80.0 | $74.0 | 8.1% | 36 | 37 |
| (72) | Victoria, Texas | $123.0 total revenues | ||||
| Full-service, promotional credit-oriented chain with 35 stores in central, southern and western Texas — including a clearance center in Victoria — and one in Duncan, Okla. Operations include five stores in San Antonio, three stores in the Austin area and two each in Lubbock, Corpus Christi and Victoria. Also sells consumer electronics and major appliances. In 2001, relocated a store in San Antonio and closed the clearance center there. | ||||||
| 72 | Marlo Furniture | $78.5 | $76.0 | 3.3% | 4 | 4 |
| (71) | Rockville, Md. | |||||
| Full-service, promotional to midpriced chain in metro Washington, D.C. — Forestville, Laurel and Rockville, Md., and Springfield, Va. Units average 90,000 square feet. | ||||||
| 73 | Steinhafels | $78.4 | $73.6 | 6.5% | 5 | 5 |
| (73) | New Berlin, Wis. | |||||
| Full-service, third-generation, family-owned, midpriced Wisconsin retailer with three stores in metro Milwaukee and one each in Madison and Kenosha. Units range from 37,000 to 75,000 square feet. Operates five in-store Kincaid galleries. Average stock turns, 5.1 times. | ||||||
| 74 | Wood-Armfield/Utility Craft | $74.7 | $78.1 | -4.3% | 5 | 5 |
| (68) | High Point | |||||
| Fiscal years ended Nov. 30 for the High Point and Raleigh, N.C., stores and calendar year for Gallahan’s. Full-service, midpriced to high-end discount retailer operating Wood-Armfield, Utility Craft, a clearance center and a W.A. Kids store in High Point that the company considers part of Wood-Armfield; W.A. Home in the Raleigh, N.C., area, including a Thomasville Home Furnishings Store; and Gallahan’s in Fredericksburg, Va. Units range from about 160,000 square feet for Wood-Armfield to about 15,000 square feet for Utility Craft. In-store galleries: Thomasville, two, averaging 8,000 square feet; Lexington, three, averaging 10,000 square feet; Bernhardt, two, averaging 6,000 square feet; Stanley, three, averaging 6,000 square feet; Century, two, averaging 5,000 square feet; Baker, one, 3,000 square feet; Hickory White, one, 5,000 square feet; Henredon, one, 7,500 square feet; Harden, one, 4,000 square feet; Broyhill, one, 7,500 square feet and La-Z-Boy, one, 4,000 square feet. In March 2001, opened a 50,000-square-foot service center to serve Gallahan’s. Also, relocated Gallahan’s to Spotsylvania County, Va., in the Fredericksburg area. The new showroom, with 70,000 square feet of selling space compared to about 49,000 square feet in the former location, has an updated look and additional product lines both at the top and bottom ends of the retailer’s price spectrum. | ||||||
| 75 | Schewel Furniture | $73.0 | $65.0 | 12.3% | 49 | 43 |
| (82) | Lynchburg, Va. | $108.0 total revenues | ||||
| Promotional to midpriced, credit-oriented chain in Virginia, West Virginia and North Carolina. Sales from appliances, electronics, carpeting and other non-furniture merchandise, $18 million. Credit income and other non-merchandise revenues, $17 million. Units average 18,000 square feet. In-store galleries: Broyhill, two, averaging 6,000 square feet. Average stock turns, 2.4 times. Average gross margin, 43%. In 2001, relocated the store in Culpeper, Va., and opened stores in Wytheville, Galax, and Richlands, Va.; Bluefield, W. Va.; and Mt. Airy and Plymouth, N.C. | ||||||
| 76 | Stickley, Audi & Co. | $72.6 | $65.0 | 11.8% | 7 | 6 |
| (81) | Manlius, N.Y. | |||||
| Owned by the Audi family, which owns high-end manufacturer L.&J.G. Stickley. Revenues from manufacturing operations not included. At year-end, operated seven high-end stores dedicated to Stickley merchandise and other high-end lines. Units average 36,000 square feet. Other lines sold at the stores include Baker, Henredon, Hancock & Moore and Hickory Chair. In July 2001, opened a wholly owned 70,000-square-foot store with 50,000 square feet of display space in White Plains, replacing its leased 33,000-square-foot unit there. In November 2001, opened its 28,000-square-foot showroom in High Point to consumers. In February 2002, the company replaced its 37,500-square-foot Manlius, N.Y., store with a 78,000-square-foot store in Fayetteville, N.Y. This summer, Stickley acquired the design and manufacturing rights for John Widdicomb Co., which had closed operations earlier in the summer. | ||||||
| 77 | Sleep Fair/Mattress Warehouse | $70.5 | $70.4 | 0.2% | 79 | 78 |
| (74) | Akron, Ohio | |||||
| Mattress and specialty sleep products chain with 56 stores owned by Westco Group and 23 franchise stores in Ohio, Kentucky, Indiana, Tennessee, Kansas, Missouri and West Virginia. Units average 8,000 square feet. In 2001, opened one store each in Kansas City, Mo.; Columbus, Ohio; and Memphis and Jackson, Tenn., and closed one store each in Louisville, Ky.; and Columbus and Akron, Ohio. | ||||||
| 78 | Z Gallerie | $70.3 | $61.5 | 14.3% | 40 | 38 |
| (86) | Gardena, Calif. | $111.0 total revenues | ||||
| Midpriced lifestyle specialty chain. At year-end, operated six stores in northern California, primarily in the San Francisco Bay area, including a furniture- only store; 12 in southern California, primarily in the Los Angeles area, but also in Costa Mesa, San Diego and Santa Barbara; four in the Chicago area; four in Arizona in Tempe, Scottsdale and Tucson; three in the greater Dallas area in Dallas and Frisco; two each in Denver and Florida (West Palm Beach and South Miami); and one each in Cincinnati; Norfolk, Va.; Atlanta; Kansas City, Mo.; Salt Lake City; and Las Vegas. Sales from kitchenwares and other non-furniture, bedding and accessories categories, $40.7 million. Units average 8,500 square feet. Average stock turns, four times. In 2001, opened three stores — Costa Mesa, Calif., Salt Lake City and a third Dallas-area store. Also closed one of two stores in Seattle. In January 2002, closed the second store in Seattle. In March 2002, opened a store in Columbus, Ohio, and remodeled two stores in the Bay area. In mid-May, closed the store in Norfolk, Va. During the third and fourth quarters of 2002, planned to open stores in Texas, Florida, North Carolina, California and Missouri. | ||||||
| 79 | The Sleep Train | $69.0 | $66.0 | 4.5% | 38 | 34 |
| (78) | North Highlands, Calif. | |||||
| Promotional to high-end bedding specialist with 35 Sleep Train stores — 25 in the San Francisco Bay area and 10 in Sacramento, Calif. — and three Boxcar Bedding stores in Sacramento, Calif. The Boxcar Bedding stores serve as the retailer’s clearance centers. In 2001, opened two stores each in Sacramento and the Bay area. Plans for 2002 included opening four to six stores in Northern California and 10 to 12 stores in San Diego. | ||||||
| 80 | Louis Shanks of Texas | $68.5 | $76.0 | -9.9% | 5 | 5 |
| (70) | Austin, Texas | $76.5 total revenues | ||||
| Fiscal years ended March 31. Texas chain of five midpriced to high-end stores: one in Austin, three in Houston and one in San Antonio. Floor coverings, contract and other non-furniture sales, about $8 million. Average stock turns, 3.2 times. Average gross margin, 41%. In March 2002, opened a 12,000-square-foot Henredon Gallery store next door and connected to its Farm Road store in Houston. Earlier-announced plans to build a 200,000-square-foot store, warehouse and office building in fast-growing Frisco, Texas, north of Dallas, are delayed. Shanks now is looking to open in the market in late 2003, but may shrink the size of the main showroom — originally expected to be 130,000 square feet of display — and create a campus environment that includes two or three manufacturers’ dedicated stores. | ||||||
| 81 | Walter E. Smithe Furniture | $68.3 | $65.2 | 4.8% | 14 | 14 |
| (80) | Itasca, Ill. | |||||
| Midpriced to high-end, special-order chain with stores in the Chicago and Indiana market, including a clearance center. Units average 9,000 square feet. Average stock turns, four times. Average gross margin, 35%. Future plans include one relocation. This summer, announced plans to open five Drexel Heritage stores in metro Chicago — the first one to open by the first quarter of 2003. Is relocating its Oakbrook store later this year. The new store will include a 15,000-square-foot Drexel Heritage gallery. All stores, except for the clearance center, now will offer Drexel Heritage product. | ||||||
| 82 | Bernie & Phyl’s Furniture | $67.7 | $54.1 | 25.2% | 6 | 5 |
| (93) | Norton, Mass. | |||||
| Owned by Convertible Castle. Full-service, midpriced retailer serving the Boston market with stores in Weymouth, Everett, Saugus, Westboro and Cambridge, Mass. and Nashua, N.H. Larger units in Westboro, Nashua and Saugus average 43,000 square feet; the other, smaller units, average 13,000 square feet. In-store galleries: Berkline, two, averaging 3,000 square feet. Average stock turns, 12 times. Average gross margin, 45%. In September 2001, opened a 41,000-square-foot store in Nashua, N.H. The new store, which will be expanded to 86,000 square feet, was acquired from Merrimack Wayside Furniture. | ||||||
| 83 | Domain | $67.0 | $62.0 | 8.1% | 25 | 23 |
| (84) | Norwood, Mass. | |||||
| Owned by Aga Foodservice Group. Full-service, midpriced to upscale, fashion-oriented chain with four stores in Boston, including a clearance center; six each in New Jersey and New York; five in Connecticut; two in Maryland; and one each in Pennsylvania and Virginia. Units average 6,000 square feet. Average stock turns, 3.3 times. Average gross margin, 50%. In August 2001, opened a 6,300-square-foot unit in Manhattan — its third. In November, opened a 6,400-square-foot unit in Marlton, N.J. In March 2002, opened a store in Columbia, Md. Other store openings planned for this year included one each in McLean, Va.; Princeton, N.J.; and Chester, N.J. Also in March, announced its acquisition by Aga Foodservice Group, a British consumer and commercial kitchen products company. Domain’s future plans would be to offer Aga’s products, including kitchen, tiles, paints, flooring, etc., along with Domain’s home furnishings. | ||||||
| 84 | Kirschman’s | $65.4 | $65.4 | 0.0% | 13 | 13 |
| (79) | New Orleans, La. | $74.8 total revenues | ||||
| Full-service, midpriced to high-end stores in New Orleans, Gretna, Houma, Metairie, Baton Rouge, Lafayette, Covington and Slidell, La.; Gulfport, Miss.; one clearance center in New Orleans and three Ethan Allen stores, one each in New Orleans, Pensacola, Fla., and Mobile, Ala. Sales from appliances, electronics and floor coverings, as well as credit income, $9.4 million. Units range from 8,000 to 80,000 square feet. In-store galleries: Thomasville, four, averaging 8,000 square feet; and La-Z-Boy, four, averaging 6,000 square feet. Average stock turns, three times. Opened a Kirschman’s in Baton Rouge with an attached Thomasville Home Furnishings Store. | ||||||
| 85 | Darvin Furniture | $65.0 | $62.0 | 4.8% | 1 | 1 |
| (83) | Orland Park, Ill. | |||||
| Family-owned, midpriced to upscale operation serving metro Chicago. In-store galleries: Action Lane, Bassett, Berkline, Lexington’s The World of Bob Timberlake, Stanley, Berne, Pennsylvania House, Richardson Bros., Thomasville, Broyhill, Howard Miller grandfather clock gallery and a Serta and Simmons bedding gallery. In 2001, added a Broyhill gallery that it planned todouble to 12,500 square feet this year. In August, opened a 13,000-square-foot Thomasville Home Furnishings Store adjacent to the main showroom, part of a multi-phase expansion planned over the next few years. Also installed a Stanley gallery and Berne gallery — each about 7,500 square feet. | ||||||
| 86 | Gardner White | $63.9 | $61.0 | 4.8% | 6 | 6 |
| (87) | Warren, Mich. | |||||
| Full-service, promotional to midpriced stores in metro Detroit. Two stores in Warren and one each in Waterford, Southfield, Taylor and Canton. Units average 32,000 square feet. In-store galleries: GuildCraft, six, averaging 2,500 square feet. Average stock turns, six times. Plans to expand and remodel its distribution center in 2002. Plans to open a new retail unit. | ||||||
| 87 | USA Baby | $60.9 | $55.5 | 9.7% | 57 | 50 |
| (89) | Elmhurst, Ill. | $75.2 total revenues | ||||
| Chain of 59 franchised stores known primarily as USA Baby and The Baby’s Room in 24 states and Mexico. Figures do not include the two stores in Mexico with sales of approximately $1 million for both years. Sells non-apparel merchandise for infants and toddlers. Strollers, toys, textiles and related juvenile merchandise sales, $14.3 million. Operates ChildSpace within USA Baby’s stores offering big kids furniture for the two through college-age child. Units average 6,500 square feet. Average stock turns, 3.5 times. Average gross margin, 40%. In 2001, opened 10 stores including stores in Kentucky, Louisiana, Tennessee and Texas — all new states. Also closed three stores, including its only one in Missouri, in St. Louis. In 2002, will open stores in Phoenix; Sacramento, Calif.; Los Angeles; Detroit; Birmingham, Ala.; Orlando, Fla.; Indianapolis; and Greensboro, N.C., as well as two stores in Mexico. | ||||||
| 88 | McMahan’s | $59.5 | $52.2 | 13.9% | 23 | 23 |
| (98) | Los Angeles | |||||
| Full-service, credit-oriented stores in California, Oregon and Nevada. At year-end, operated 20 McMahan’s Furniture stores, one McMahan’s Clearance Center and two La-Z-Boy Furniture Galleries. Also sells appliances and electronics; those revenues not included. In 2001, opened new stores in Bakersfield and Delano, Calif.; relocated its store in Albany, Ore.; and closed its two Mattresses Unlimited Sleep Shops. In 2002, planned to remodel its store in Medford, Ore., and expand the La-Z-Boy Gallery in Chico, Calif. Closed a store in McMinnville, Ore., earlier this year. | ||||||
| 89 | C.S. Wo & Sons | $59.0 | $55.0 | 7.3% | 15 | 15 |
| (91) | Honolulu | |||||
| Operates 15 stores under seven names on three islands — Maui, Oahu and the big island (Hawaii) — one high-end C.S. Wo Gallery store, two full-line HomeWorld superstores, two SlumberWorld sleep shops, one promotional Furnitureland store, five Sleepland USA specialty sleep shops, one Z-Interiors lifestyle gallery and one La-Z-Boy Furniture Galleries store, as well as two Furnitureland/Z-interiors stores on Maui and Hawaii, which are viewed by the company as single units. C.S. Wo Gallery and HomeWorld stores are 35,000 to 50,000 square feet; sleep shops range from 3,000 to 5,000 square feet; Furnitureland stores range from 15,000 to 25,000 square feet; and the La-Z-Boy and Z-Interiors are 10,000 to 15,000 square feet. In 2002, planned a renovation of its Maui complex, a new expanded store in Kona and an additional location for the Z-Interiors store in Honolulu. | ||||||
| 90 | Hank’s Discount Fine Furniture | $58.8 | $52.8 | 11.4% | 22 | 20 |
| (95) | Sherwood, Ark. | $60.8 total revenues | ||||
| Privately owned, promotional to midpriced chain with 20 Hank’s Discount Fine Furniture stores — 14 in Arkansas, one in Louisiana, three in Missouri, two in Texas — and two Home Place Furniture stores in Florida. Fabric protection revenues, $2 million. The six largest stores average 26,500 square feet, Home Place Furniture stores average 28,000 square feet and the others average 15,000 square feet. Average stock turns, 3.7 times. In March 2001, the company opened a 38,000-square-foot unit in Panama City, Fla. under a new name — Home Place Furniture. The new unit has 26,000 square feet of selling space and 12,000 square feet of warehouse. In the fall, the retailer opened its second Home Place in Pensacola, Fla. — a 28,000-square-foot unit. The retailer also relocated a 13,000-square-foot store in Little Rock, Ark., with a unit twice as big. In April 2002, relocated its headquarters to a larger building in Sherwood, Ark. The company plans to open one new Hank’s Furniture store in northwest Arkansas as well as one new Home Place Furniture store in Alabama. Hank’s also will remodel two existing stores in northwest Arkansas. | ||||||
| 91 | South Dakota Furniture Mart | $57.9 | $53.0 | 9.2% | 15 | 11 |
| (94) | Sioux Falls, S.D. | $62.2 total revenues | ||||
| Privately held, full-service, midpriced chain, which recently changed its corporate name to Furniture Outlets USA. Operates stores in the Dakotas, Minnesota and Iowa. At year-end, operated four Unclaimed Freight stores in Mitchell, Yankton, Sioux Falls and Watertown, S.D.; one Love-It-Furniture store in Fargo, N.D.; five Furniture Outlet stores in Medford, North Branch and Mankato, Minn.; Spirit Lake, Iowa; and Fargo, N.D.; a Ashley Home Store in North Branch, Minn., and Fargo, N.D.; a Thomasville Home Furnishings Store in Fargo, N.D.; and a UCF Clearance Center and a South Dakota Furniture Mart in Sioux Falls, which includes a Carpet One franchise operation. Carpeting sales, $3.1 million. Fabric protection revenues, $1.2 million. Units average 35,850 square feet. In-store galleries: Broyhill, six, averaging 7,500 square feet; and Century, one, 5,000 square feet. In 2001, opened a new Furniture Outlet in Fargo with a 55,000-square-foot full-line store featuring a 7,500-square-foot Broyhill gallery; and a 10,000-square-foot Thomasville Home Furnishings Store and a 10,000-square-foot Ashley Home Store — both with separate entrances. Also opened an Ashley Home Store in North Branch, Minn. Planned additional store openings in 2002. | ||||||
| 92 | Green Front Furniture | $54.8 | $52.2 | 5.0% | 3 | 2 |
| (97) | Farmville, Va. | $57.6 total revenues | ||||
| Privately owned, midpriced to high-end stores in Farmville and Sterling, Va., in the Washington, D.C., area and in Raleigh, N.C. Carpeting and vinyl flooring sales, $2.8 million. The Farmville store is a series of buildings totaling about 650,000 square feet; the Sterling store is about 40,000 square feet; and the Raleigh store is about 31,000 square feet. In-store galleries: Hickory Chair, one, 6,000 square feet; Henredon, one, 5,000 square feet; and Lexington, one, 10,000 square feet. Average stock turns, three times. Average gross margin, 31%. In October 2001, opened a 31,000-square-foot store in Raleigh, N.C., with the name Green Front Interiors and Rugs. | ||||||
| 93 | America Group | $53.9 | $49.8 | 8.1% | 63 | 63 |
| (99) | Vancouver, Wash. | |||||
| Primarily midpriced bedroom, bedding and futon specialty stores in the Pacific Northwest from Bellingham, Wash., south to the Fresno, Calif., area and east to Boise, Idaho, and Reno, Nev. Includes 58 company-owned stores and five franchises. Operates 13 stores in Northern California and the Medford, Ore., area; 16 in the Portland, Ore., area; nine in the Salem, Ore., area; four in the Boise, Idaho, area; two stores in Nevada in Reno and Carson City; and 19 stores in Washington — seven in the Tacoma/Seattle area, six in Vancouver area, five in Spokane area, and one in Kennewick. Includes seven youth furniture stores, 11 futon, 15 mattress, 11 flotation, 13 bedroom, two leather specialty stores and four import specialty stores. Operates under the names: America The Beautiful Dreamer, Bedrooms West, Mattress Land, Leather Express, International Furniture Faire and America for Kids. Average gross margin, 45.3%. In 2001, opened four stores — one each in Northern California; Portland, Ore.; and Vancouver and Spokane, Wash. Also closed four — all in the Seattle area. In February 2002, opened two stores in Reno, Nev., and one in the Seattle area. | ||||||
| 94 | Roche-Bobois USA | $52.1 | $54.3 | -4.0% | 38 | 34 |
| (92) | New York | |||||
| Franchised network of 26 high-end, primarily European contemporary stores as well as 12 Les Provinciales stores of Classic French furniture reproductions in the United States at year-end. The Les Provinciales, for the most part, are stores within Roche-Bobois stores. Markets with both Roche-Bobois and Les Provinciales are Coral Gables and Palm Beach, Fla.; Atlanta; Boston; Costa Mesa, Calif.; Houston; Los Angeles; San Diego; San Jose, Calif.; San Francisco; Washington, D.C.; and Winnetka, Ill. Operates only Roche-Bobois in Chicago; Columbus, Ohio; Dallas; Denver; Naples, Fla.; New York; Paramus, N.J.; Philadelphia; Phoenix; Portland, Ore.; Roslyn Heights, N.Y.; Scarsdale, N.Y.; Seattle; and Westport, Conn. Sales and store counts for the five Canadian units with sales of $6 million each year are not included. Units average 8,000 square feet. Average stock turns, five times. Average gross margin, 62%. In 2001, opened a Roche-Bobois in Atlanta and Naples, Fla., as well as Les Provinciales in Atlanta and Costa Mesa, Calif. In March 2002, opened its first store in San Juan, Puerto Rico. Also this year, planned to open a new store in Toronto and a new store in Detroit. Earlier this year, the store in Washington, D.C., was expanded 4,000 square feet to 13,000 square feet. | ||||||
| 95 | Bay Furniture | $52.1 | $47.6 | 9.5% | 5 | 5 |
| (NR) | Homewood, Ill. | |||||
| Full-service, midpriced Chicagoland retailer with stores in Homewood, Aurora/Fox Valley, Hoffman Estates and Lake Zurich, Ill., and Merrillville, Ind. Units average 29,195 square feet. In-store galleries: Berkline, five, averaging 4,000 square feet; and Kincaid, three, averaging 4,000 square feet. Planned to open a 45,000-square-foot store in southwest Chicago in Mokena, Ill., this fall. | ||||||
| 96 | Lack’s Valley Stores | $51.8 | $39.3 | 31.7% | 9 | 10 |
| (NR) | Pharr, Texas | $67.8 total revenues | ||||
| Full-service, medium to high-end retailer serving the lower Rio Grande Valley of Texas and Mexico. At year-end, operated two stores each in Harlingen and McAllen and one store each in Brownsville, Edinburgh, Mission, South Padre Island/Port Isabel and Weslaco. Sales from consumer electronics and major appliances, $9.7 million. Revenues other than sales, $6.3 million. In-store galleries: Bassett, Thomasville, Bernhardt, and Kincaid. Average stock turns, three times. Average gross margin, 50%. In March 2001, closed a small 10,000-square-foot unit in Harlingen. In March 2002, opened a 130,000-square-foot store in Laredo, Texas. | ||||||
| 97 | Mastercraft Interiors | $51.8 | $52.3 | -1.0% | 5 | 5 |
| (96) | Beltsville, Md. | |||||
| Midpriced to high-end retailer with one store each in Annapolis, Gaithersburg and Rockville, Md., and two stores in Fairfax, Va., including a Drexel Heritage Home Inspirations store, at year-end. In July, Mastercraft Interiors closed its Drexel Heritage Home Inspirations store in Fairfax, Va., after it was unable to come to terms on a new lease. In September, opened its fifth metro Washington store in Alexandria, Va., returning to an area it had left in 1998, when its former landlord decided to convert the store space into offices. | ||||||
| 98 | Walker Furniture | $51.2 | $48.0 | 6.8% | 12 | 9 |
| (NR) | Las Vegas | $54.3 total revenues | ||||
| Owned by principal stockholder Deanne Alterwitz and family. Full-service, promotional to high-end retailer with a 120,000-square-foot main store in the northwest Las Vegas valley, an Office Furniture store and 10 Serta-exclusive satellite bedding specialty shops called Best Mattress. Also operates a Custom Furniture Rental store, revenues not included. Best Mattress stores average 2,000 square feet. Fabric protection, delivery charges and insurance income, about $3 million. In-store galleries: Broyhill, 6,309 square feet; GuildCraft, 3,920 square feet; Henredon, 8,000 square feet; Stanley, 2,900 square feet; and Serta, 3,296 square feet. Average stock turns, 4.15 times. Average gross margin, 41.9%. In 2001, opened four Best Mattress stores and closed one. Remodeled the annex across the parking lot displaying ready-to-assemble furniture and promotional room packages. The company also acquired a 175,000-square-foot warehouse and converted about 20,000 square feet to a clearance center. Is currently renovating and expanding its main store to 160,000 square feet of display. | ||||||
| 99 | Sit’n Sleep | $50.1 | $35.6 | 40.9% | 10 | 9 |
| (NR) | Carson, Calif. | |||||
| Owned by Sleep Well. Promotional to high-end Southern California bedding specialist with stores in Culver City, Montebello/City of Commerce, Laguna Hills, Upland/Ontario, Santa Ana, Santa Clarita, Tarzana, Torrance, Puente Hills and Oxnard. Units range from 12,000 square feet to 15,000 square feet. Average stock turns, 9.6 times. Average gross margin, 45%. In 2001, opened a store in Oxnard, Calif. Also, moved its headquarters from Montebello to Carson. Planned to open stores in Huntington Beach and Glendale this year and in Norco in 2003. | ||||||
| 100 | Conlin’s Furniture | $49.8 | $42.8 | 16.3% | 17 | 17 |
| (NR) | Billings, Mont. | |||||
| Privately held, full-service, midpriced chain with seven stores in Montana, six in North Dakota, three in South Dakota and one in Wyoming. Units average 21,500 square feet. In-store galleries: La-Z-Boy, seven, averaging 5,000 square feet; Broyhill, two, at 7,000 and 7,500 square feet. In December 2001, opened a new 7,500-square-foot Broyhill gallery in the Bozeman, Mont., store. | ||||||
Top furniture stores
anonymous //November 25, 2002
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