Furniture Today’s retailer rankings reflect last year’s challenges

By Alan Wolf, YSN

For most home furnishings retailers, 2022 is a year best forgotten.

Supply chain disruptions, rising inflation and a slowing housing market all conspired to make the going tough for even the toughest dealers last year.

Their uphill struggle was captured by Furniture Today’s just-released ranking of the 100 largest U.S. furniture stores by sales volume. The 2023 edition, available for download here, was the magazine’s first Top 100 report in 13 years to show a collective decline in sell-through, with total sales slipping almost 1% to $60.6 billion.

Given the concentration of sales power in U.S. retail today, it should come as no surprise that the Top 100 contenders accounted for fully 82% of the estimated $73.5 billion in total furniture, bedding and accessory purchases made through furniture stores last year.

Broken out by channel, conventional furniture stores — defined as retailers with a traditional mix of furniture, bedding and decorative accessories and possibly appliances and CE — comprised 52% of Top 100 sales volume and 39% of unit volume. The balance went to specialty stores, defined as retailers like Mattress Firm, La-Z-Boy, IKEA, RH, Big Lots and Williams-Sonoma that feature a product-specific, style-specific or lifestyle-focused merchandise mix.

But despite conventional stores’ dollar dominance, their combined sales declined 12.1% last year, to $31.2 billion, vs. specialty stores’ 14.5% climb to $29.3 billion in home furnishings sales.

Figures also include revenue from furniture and fabric protection, warranties and delivery charges.

Absent from the rankings are online-dominant sellers like Wayfair and A.J. Madison, as at least 25% of sales must be derived from brick-and-mortar storefronts to qualify for Top 100 consideration. In addition, sales of furniture, bedding, accessories must comprise at least 25% of total revenue.

Leading the charge in 2022 were Ashley Stores, in first place; Williams-Sonoma, at No. 2; IKEA, placing third; Mattress Firm, taking the fourth spot; and Rooms To Go, coming in fifth.

The Top 100 list also included a healthy representation of BrandSource dealers, including Gardner White, Big Sandy SuperstoreMiskelly Furniture and Kimbrell’s Furniture.

The rankings are based on sales estimates compiled by Furniture Today Strategic Insights from retailer surveys, public filings, news reports and input from suppliers and industry analysts.

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