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Top 100 Furniture Stores
By Furniture Today Staff -- Furniture Today, May 26, 2002
| Top 100 Furniture Stores | |||||||||
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| RANK | COMPANY, HOME BASE AND NOTES | FURNITURE, BEDDING, ACCESSORIES SALES IN $ MILLIONS | PERCENT CHANGE | NUMBER OF UNITS | SELLING SPACE ALL STORES | FURNITURE, BEDDING, ACCESSORIES | |||
| (LAST YEAR) | 2001 | 2000 | 2000 to 2001 | 2001 | 2000 | sq. ft. 1000s | percent of selling space | average sales per sq. ft. | |
| 1 | Rooms To Go | $1,260.0 | $1,050.0 | 20.0% | 90 | 84 | NA | 100% | $800 |
| (2) | Seffner, Fla. | ||||||||
| Full-service, midpriced chain with stores throughout Florida and in Georgia, the Carolinas, Tennessee, Texas and Puerto Rico. Operations include 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 2001, opened six stores — a Rooms To Go and two Kids stores in Texas, a Rooms To Go and clearance center in greater Atlanta, and a clearance center in Clearwater, Fla. Also dissolved its partnership with a Japanese conglomerate, which operated four Rooms stores in the Tokyo market. The four stores closed in September. In 2002, expects to open seven or eight stores including ones in Greensboro, N.C.; Atlanta; Charlotte, N.C.; and four in Texas, including the Austin store that opened in February. Is also planning two new Miami stores to open late this year or early 2003. Is completing work on a 375,000-square-foot distribution center in Charlotte, N.C., 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 | NA | NA | NA |
| (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. In 2001, opened eight stores and closed four. Continued rollout of a new redesign that features model-home entrances within the store incorporating the classic and casual lifestyles. In 2002, plans to open 10 to 15 stores in the United States and abroad, including its first stores in China and the United Kingdom. | |||||||||
| 3 | Levitz Home Furnishings | $900.0 | $893.0 | 0.8% | 110 | 113 | 3,791 | 100% | $235 |
| (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. 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 to reopen as Levitz or possibly Seaman's. Ten of the stores are located in California, six in the Philadelphia area, and one each in Washington and Arizona. Additional plans this year call for the opening of two to three Levitz stores — in metro New York, Las Vegas and Philadelphia; two Seaman's stores in Philadelphia and an undisclosed New Jersey market; and one Seaman's Kids in Fairfield, N.J. | |||||||||
| 4 | Pier 1 Imports | $857.9 | $776.9 | 10.4% | 891 | 798 | 6,601 | NA | NA |
| (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. 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. The company also plans to open eight to 12 Cargo stores. | |||||||||
| 5 | La-Z-Boy Furniture Galleries | $836.2 | $743.7 | 12.4% | 287 | 283 | 3,642 | 100% | $230 |
| (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 2002, La-Z-Boy will open a total of 20 Furniture Galleries including ones using the Store of Tomorrow concept. 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 | NA | NA | NA |
| (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 is currently remodeling and expanding the size of its headquarters store to 135,000 square feet and has broken ground on a 100,000-square-foot store outside of Houston, in Sugarland, Texas. R.C. Willey is planning a new store in Summerlin, Nev., to open April 2003. Jordan's is currently expanding its Natick store by 35,000 square feet and will include a 300-seat three-dimensional IMAX theatre. Other plans for Jordan's include a new store location in Reading, Mass., with groundbreaking scheduled for 2003, 300-seat 3D IMAX theaters in selected stores and a new distribution facility to open in 2003. | |||||||||
| 7 | Ikea | $690.0 | $550.0 | 25.5% | 15 | 14 | NA | NA | NA |
| (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, $610 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 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 | 3,521 | 100% | $190 |
| (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 are 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 the third quarter of this year, plans to open a 511,000-square-foot 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 | NA | 100% | NA |
| (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, opened two stores in Detroit, one in Columbus, Ohio, and one in St. Louis, Mo. Also closed two stores. Has since opened a store in Chesapeake, Va., and plans to open three more for 80 stores by the end of July. In June, will open a 50,000-square-foot American Signature Furniture store in the Nashville, Tenn., suburb of Franklin. The new format will take a more upscale approach to display and feature 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 | NA | 100% | NA |
| (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. In 2002, will build a new 75,000-square-foot store in Port Huron replacing a 45,000-square-foot unit. Will remodel the Grand Rapids store adding 12,000 square feet to the 70,000-square-foot store, with completion set for November. Other plans include doubling the size of the Southfield store in metro Detroit to 70,000 square feet. The expansion is to be completed in 2003. In May, will begin construction on a 75,000-square-foot showroom in Chesterfield Township in metro Detroit — the retailer's 29th store. | |||||||||
| 11 | Rhodes | $515.8 | $469.4 | 9.9% | 89 | 86 | 3,266 | 100% | $161 |
| (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 will open 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 | NA | 100% | NA |
| (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. In 2002, has opened five stores, including its first company-owned store in San Jose, Calif. Expects to open a total of 25 stores this year, part of an aggressive plan to have 250 U.S. Thomasville stores by the end of 2005. 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 | NA | NA | $110 |
| (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. | |||||||||
| 14 | The Bombay Company | $384.0 | $373.4 | 2.8% | 365 | 356 | 912 | 100% | $417 |
| (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 | NA | NA | NA |
| (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 wind down 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 generating sales next year of about $350 million. | |||||||||
| 16 | Breuners Home Furnishings Corp. | $367.9 | $406.4 | -9.5% | 48 | 53 | 1,873 | 100% | $200 |
| (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 presentation. 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, announced it was merging 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 | NA | NA | NA |
| (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 late October and early November. Also closed six smaller format Pottery Barn stores. The Web site for Pottery Barn Kids was launched in 2001. Store openings for 2002, include 25 Pottery Barn Kids stores and 14 Pottery Barn stores including one of each in Toronto. This summer, the company plans to test a new catalog called West Elm, which will target 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 | NA | 100% | NA |
| (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 February 2002, private equity group Bruckmann, Rosser, Sherrill & Co., signed a letter of intent to buy Wickes in a deal valued at $75.6 million. In December 2000, a California court appointed Los Angeles attorney David Pasternak as the receiver over Wickes parent Master Home USA, and he has been working to sell the retailer. Master Home is the U.S. arm of Taiwan-based Master Home Furniture, which ran into financial troubles more than two years ago and eventually filed a reorganization petition in Taiwan. Last year, Wickes had plans to open four stores before an economic slowdown put the plans on hold. This year, it is moving forward with the expansion plan; the first in Pasadena, Calif. — a former HomeLife Furniture store — opened early this year. Another in greater Los Angeles and two in Minneapolis are expected to open later this year. Longer term, Wickes has said it plans on opening 13 to 17 stores in California over the next several years. | |||||||||
| 19 | Crate & Barrel | $326.0 | $300.0 | 8.7% | 106 | 94 | NA | NA | NA |
| (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. Plans to open 10 stores in 2002, including six carrying furniture — one each in San Francisco, Chicago, Washington, D.C., Atlanta, New York and Los Angeles. The retailer will also 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, i.e. chairs and home office. | |||||||||
| 20 | Raymour & Flanigan | $315.6 | $280.9 | 12.4% | 43 | 39 | 2,217 | 100% | $150 |
| (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, will 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 is replacing a smaller store. | |||||||||
| 21 | American Furniture Warehouse | $286.1 | $275.0 | 4.0% | 9 | 9 | 784 | 100% | $365 |
| (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, which is 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%. Early 2001, opened a 635,000-square-foot distribution center, showroom and office complex south of Denver in Parker. The new center with 112,000 square feet of showroom space replaced the Englewood, Colo., unit. | |||||||||
| 22 | Slumberland | $272.1 | $270.3 | 0.7% | 71 | 69 | NA | 100% | NA |
| (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 | NA | 100% | $666 |
| (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 Gabberts' 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 | NA | 100% | $240 |
| (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, Ohio. 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. | |||||||||
| 25 | Mattress Discounters | $242.4 | $260.4 | -6.9% | 300 | 295 | NA | 100% | NA |
| (27) | Upper Marlboro, Md. | ||||||||
| Bedding specialist operating stores in 13 markets — Chicago; Washington, D.C.; Los Angeles; San Francisco/Sacramento; Boston; Detroit; Baltimore, Md.; San Diego, Calif.; Miami; Pittsburgh; Richmond, Va.; and Orlando, Fla. Operates Bedding Experts stores in the Chicago metropolitan area. Carries Sealy and Comfort Source brand mattresses manufactured in the company's two manufacturing facilities exclusively. Includes sales from retail operations only — does not include manufacturing sales to its retail operations or manufacturing sales to external retailers. 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. | |||||||||
| 26 | Bassett Furniture Direct | $241.2 | $206.4 | 16.9% | 68 | 58 | 1,389 | 100% | $193 |
| (32) | Bassett, Va. | ||||||||
| Fiscal years ended Nov. 30 and Dec. 3. Network of independently owned and operated dedicated manufacturer gallery stores. midpriced. 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 | NA | 100% | NA |
| (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 | 530 | 100% | $420 |
| (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 much smaller warehouse in Old Fort, N.C. | |||||||||
| 29 | Sleepy's | $221.0 | $206.0 | 7.3% | 234 | 218 | 950 | 100% | NA |
| (33) | Bethpage, N.Y. | ||||||||
| Bedding specialty chain in metro New York, New Jersey, Connecticut, Pennsylvania and Delaware. Figures include 12 upper-end Kleinsleep stores in metro New York and from Sleepy's toll-free 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 | NA | NA | NA |
| (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 entertaining products. The retailer operates stores in 19 states, primarily in the Western United States 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. In 2002, has opened stores in Arlington, Va.; Denver; Greensboro, N.C.; and Los Angeles. By mid-year 2002, will open a 500,000-square-foot distribution center in Isle of Wight County, Va. | |||||||||
| 31 | Boyles Furniture | $192.1 | $173.0 | 11.0% | 14 | 14 | 493 | 100% | $390 |
| (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 — in Fort Myers and Naples, Fla. Fabric protection revenues, $900,000. Units average 35,200 square feet. | |||||||||
| 32 | City Furniture | $186.5 | $168.1 | 10.9% | 13 | 12 | 492 | 100% | NA |
| (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 showroom is 90,000 square feet on two levels including a 20,000-square-foot clearance center on the upper level. 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 will open in Broward County in Fort Lauderdale in October. The 56,000-square-foot unit will replace a 10,000-square-foot unit in the market. The other units are scheduled to open in 2003-2004. | |||||||||
| 33 | Mattress Giant | $183.0 | $180.0 | 1.7% | 225 | 200 | NA | 100% | NA |
| (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, President and Chief Executive Officer Phil Lang left the company, and William K. Snyder of Corporate Revitalization Partners is filling the role of interim chief operating officer. | |||||||||
| 34 | Mathis Bros. | $169.7 | $144.7 | 17.3% | 6 | 5 | 244 | 100% | $695 |
| (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 early 2002. In January 2002, Mathis Bros. opened a 205,000-square-foot superstore and warehouse in Tulsa replacing the 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 this fall. 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 | 800 | 100% | $206 |
| (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 manufacturers 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, may 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 | 780 | 100% | NA |
| (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 | NA | NA | NA |
| (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. Operates 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. In June, will open a 45,000-square-foot warehouse store in Hackensack, N.J. Will also open a three-month summer store in the Tanger Mall on Long Island. The store will focus on summer merchandise for the home. | |||||||||
| 38 | Jennifer Convertibles | $158.0 | $156.0 | 1.3% | 191 | 179 | NA | 100% | NA |
| (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, has opened two stores in existing markets and plans to open a total of seven for the year. The company's expansion strategy is focused on Jennifer Convertibles, featuring Jennifer Leather galleries. | |||||||||
| 39 | Ashley Home Stores | $140.0 | NA | NA | 70 | 40 | NA | 100% | $210 |
| (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 | 517 | 100% | NA |
| (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 will 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 | 90 | 90% | $1,640 |
| (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 | 375 | 100% | NA |
| (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. In January 2002, opened a new HOM Furniture store in Sioux Falls, S.D. Other plans include opening two new 150,000-square-foot units in the Minneapolis/St. Paul area in Lakeville and Plymouth later this spring or summer. Will also open a 100,000-square-foot unit in late December 2002 to replace the Duluth unit. | |||||||||
| 43 | Nationwide Warehouse & Storage | $125.0 | $219.1 | -42.9% | 109 | 159 | NA | NA | NA |
| (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 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. Meanwhile, an agent for pre-petition lenders to nationwide has asked the court to convert the case to a Chapter 7 liquidation. | |||||||||
| 44 | Drexel Heritage Home Inspirations | $123.0 | $127.0 | -3.1% | 30 | 30 | NA | 100% | NA |
| (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. | |||||||||
| 45 | Haynes Furniture | $122.0 | $108.0 | 13.0% | 9 | 8 | 736 | 95% | NA |
| (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 | 624 | NA | NA |
| (44) | Corte Madera, Calif. | $306.0 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, $186 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. Opened a store in Durham, N.C., earlier this year unveiling a new prototype, a broader furniture assortment and some new display methods. | |||||||||
| 47 | El Dorado Furniture | $114.1 | $94.0 | 21.3% | 7 | 7 | 472 | 100% | $310 |
| (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 | 446 | 100% | $254 |
| (46) | Boca Raton, Fla. | ||||||||
| Full-service, midpriced to high-end South Florida chain operating nine Carls furniture stores and five Carls Patio shops. 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 2002, will complete renovation on a 100,000-square-foot furniture and patio location on the Palmetto Expressway in Miami. Will also complete construction of a new complex in Coconut Creek that will include corporate offices, an 80,000-square-foot furniture store, a 12,000-square-foot patio store and a 270,000-square-foot warehouse. 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 | 490 | 100% | $225 |
| (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 | NA | 100% | NA |
| (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. | |||||||||
| 51 | Storehouse/Home Elements | $109.7 | $120.5 | -9.0% | 63 | 60 | 425 | 100% | $258 |
| (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. Home Elements is primarily a specialty boutique retailer carrying upholstery and leather from Rowe and Mitchell Gold as well as imports and other home accents. 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. Rowe is in process of consolidating its Home Elements and Storehouse retail chains into one Storehouse division. The group will be based in Atlanta. No store closings are planned, but one warehouse will close in the Washington, D.C., market. | |||||||||
| 52 | Harlem Furniture | $108.0 | $95.1 | 13.6% | 13 | 12 | 283 | 100% | $382 |
| (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 with the rollout of the new name through its advertising, Web site and in-store signage. In February 2002, opened a 27,000-square-foot store in Aurora, Ill., with an updated interior and exterior, replacing a smaller unit in the same trading area. 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 | 328 | 100% | $275 |
| (48) | Norwalk, Ohio | ||||||||
| Network of 65 franchised and 14 company-owned midpriced to high-end upholstery specialty stores in the United States at the end of the year. 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. Plans to open six stores in 2002 including units in Palm Desert and Valencia, Calif. (opened in March); Sterling, Va. (opening May); and Myrtle Beach, S.C. (opening August). Closed one unit early this year in Littleton, Colo. Norwalk Furniture is celebrating its 100th anniversary this year. | |||||||||
| 54 | Baer's | $102.0 | $95.0 | 7.4% | 14 | 13 | NA | 100% | $250 |
| (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 stretching from Stuart south to Kendall 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 | 650 | 100% | $165 |
| (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 for the retailer to bring both its high-end Design studio and its promotional Rooms Express 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 | NA | NA | NA |
| (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 | 364 | NA | NA |
| (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 will also 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 | 267 | 100% | $367 |
| (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 | 775 | 100% | $126 |
| (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 | 218 | 100% | NA |
| (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 | 205 | 100% | $125 |
| (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 | 264 | 100% | $355 |
| (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 | 180 | 100% | $516 |
| (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. Retrospect is distinguished from Room & Board by its offering of more traditional styles. Units average 20,000 square feet. Average stock turns, four times. Average gross margin, 44%. In 2002, will open a Room & Board and a Retrospect in southern California. | |||||||||
| 64 | Grand Home Furnishings | $92.0 | $110.8 | -17.0% | 16 | 17 | NA | NA | NA |
| (51) | Roanoke, Va. | $98.5 total revenues | |||||||
| Privately owned, full-service, primarily 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 | 320 | 100% | NA |
| (69) | San Diego | ||||||||
| Full-service, promotional to midpriced metro San Diego 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, completed conversion of its 48,000-square-foot downtown showroom and office to existing warehouse space. | |||||||||
| 66 | Sofa Express | $91.1 | $66.5 | 37.0% | 18 | 13 | NA | 100% | NA |
| (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. | |||||||||
| 67 | Levin Furniture | $90.5 | $83.3 | 8.7% | 11 | 11 | 479 | 100% | NA |
| (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 unit in Pittsburgh. Earlier this year, replaced a 27,000-square-foot unit with an 88,000-square-foot store in greater Pittsburgh. In the fall, plans to open a 90,000-square-foot store in the Oakwood Village suburb of Cleveland, replacing a smaller unit. Next spring, the company 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 | NA | 85% | NA |
| (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. Will also 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 | NA | 100% | NA |
| (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, 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. Now Hakakian is in the process of scaling back to 10 units in its strongest Southern California markets. | |||||||||
| 70 | Benchmark Home Furnishings | $85.0 | $66.0 | 28.8% | 2 | 6 | 400 | NA | NA |
| (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 | NA | NA | NA |
| (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 | 360 | 100% | NA |
| (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 | 287 | 100% | $273 |
| (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 | 300 | 100% | NA |
| (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 | 900 | 90% | $100 |
| (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 | 250 | 100% | $291 |
| (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 in Albany, Manhattan, Manlius, Rochester and White Plains, N.Y.; Enfield, Conn.; and High Point. 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 residents of North Carolina. In February 2002, the company replaced its 37,500-square-foot Manlius store with a 78,000-square-foot store in Fayetteville, N.Y. | |||||||||
| 77 | Sleep Fair/Mattress Warehouse | $70.5 | $70.4 | 0.2% | 79 | 78 | 368 | 100% | NA |
| (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. Plans to expand in current market areas this year. | |||||||||
| 78 | Z Gallerie | $70.3 | $61.5 | 14.3% | 40 | 38 | 330 | 70% | $300 |
| (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; Seattle; 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 2002, will open stores in Texas, Florida, North Carolina, California and Missouri. | |||||||||
| 79 | The Sleep Train | $69.0 | $66.0 | 4.5% | 38 | 34 | NA | 100% | NA |
| (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 carry promotional to midpriced product and serve as the retailer's clearance centers. In 2001, opened two stores each in Sacramento and the Bay area. Plans for 2002 include opening four to six stores in Northern California and 10 to 12 stores in San Diego — a new market. | |||||||||
| 80 | Louis Shanks of Texas | $68.5 | $76.0 | -9.9% | 5 | 5 | NA | NA | NA |
| (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 and could be changing. 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 manufacturer's dedicated stores. | |||||||||
| 81 | Walter E. Smithe Furniture | $68.3 | $65.2 | 4.8% | 14 | 14 | 120 | 100% | $569 |
| (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. | |||||||||
| 82 | Bernie & Phyl's Furniture | $67.7 | $54.1 | 25.2% | 6 | 5 | 147 | 100% | $459 |
| (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 | 126 | 100% | $532 |
| (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 this year include 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 | NA | NA | NA |
| (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. Recently 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 | 100 | 100% | NA |
| (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, Century, 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 will double to 12,500 square feet this year. In late August, will expand with the opening of a 14,000-square-foot Thomasville Home Furnishings Store attached to the main showroom, part of a multi-phase expansion planned over the next few years. Also will open a 4,000-square-foot combination Stanley and Berne gallery this year in existing space. | |||||||||
| 86 | Gardner White | $63.9 | $61.0 | 4.8% | 6 | 6 | 185 | 100% | $330 |
| (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 | 371 | 65% | NA |
| (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 | NA | NA | NA |
| (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, will 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 | 200 | 100% | $295 |
| (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, is planning 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 | 363 | 100% | $168 |
| (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 will also remodel two existing stores in Northwest Arkansas. | |||||||||
| 91 | South Dakota Furniture Mart | $57.9 | $53.0 | 9.2% | 15 | 11 | 466 | 100% | NA |
| (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. Plans additional store openings in 2002. | |||||||||
| 92 | Green Front Furniture | $54.8 | $52.2 | 5.0% | 3 | 2 | 723 | 80% | NA |
| (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 | NA | 100% | NA |
| (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 | 220 | 100% | $275 |
| (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. In May, will open a new store in Toronto and this fall will open 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. Other plans for this year include doubling the floor space in the New York and Chicago stores. | |||||||||
| 95 | Bay Furniture | $52.1 | $47.6 | 9.5% | 5 | 5 | 146 | 100% | $357 |
| (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. Plans 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 | 360 | 90% | $160 |
| (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 | NA | 100% | NA |
| (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. This August will open a new Mastercraft store in Alexandria, Va. | |||||||||
| 98 | Walker Furniture | $51.2 | $48.0 | 6.8% | 12 | 9 | 137 | 100% | $374 |
| (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 | 115 | 100% | $456 |
| (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. Plans 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 | NA | 100% | NA |
| (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. | |||||||||
| Notes: All sales information, except for that supplied by publicly held companies that break out furniture sales, are Furniture/Today market research estimates. In cases where companies have identical sales of furniture, bedding and accessories, the one with the fastest sales growth is ranked first. In the notes, stock turns and average gross margin are for furniture, bedding and decorative accessories, including lamps and area rugs. Estimated sales for manufacturer gallery store networks reflect their dedicated-store sales only and exclude sales from in-store galleries. All data for calendar 2001 and 2000 unless otherwise noted. Average unit size in notes refers to selling space. NR=Not ranked NA=not available/not applicable | |||||||||
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