R.C. Willey pursues 2nd Vegas store
By Clint Engel -- Furniture Today, March 3, 2002
LAS VEGAS — LAS VEGAS — R.C. Willey Home Furnishings, which hit the ground running with its first store here last fall, will open a second area store next year in the fast-growing community of Summerlin, west of the city.
The Salt Lake City-based powerhouse is acquiring about four acres at the Town Center Drive exit off of Interstate 215, where it will be a stand-alone anchor to the new South Square Community Shopping Center.
At 128,000 square feet, the store will be about the same size as R.C. Willey's store in Henderson, Nev., southeast of Las Vegas, but without the attached 80,000-square-foot distribution center. Scott Hymas, chief executive officer, said the company will use offsite warehousing to serve the new store.
The store is expected to open in the second quarter of 2003. R.C. Willey, part of the Berkshire Hathaway furniture division, will invest more than $15 million in the store, Hymas said.
"Because of the overwhelming response to our Henderson opening, we are moving as quickly as possible to get this second location open," he said. He said the Henderson store has drawn many consumers from the Summerlin area, a 30-minute drive away, who have asked the retailer to put a store closer to their homes.
The two stores eventually could generate $120 million or more in annual revenues. The company had projected $55 million to $60 million in sales for Henderson in the first year, and eventually $80 million a year.
"The first five months have exceeded what we thought we would do — so much so that we think our concept works in Las Vegas and … our store in Summerlin will be a success," Hymas said.
As in Henderson, the new store will carry furniture, accessories, flooring, home electronics and appliances.
Key furniture suppliers include La-Z-Boy, Broyhill, Vaughan, Universal, Natuzzi, LeatherTrend, Mike Cims, Ashley, Hooker, Palliser, Schnadig, Cochrane and Benchmade, plus Simmons, Serta and Spring Air in bedding.
For the future, Hymas said R.C. Willey is "continuing to look at opportunities for growth," but it's premature to name markets.
Business is off to a strong start in 2002, he said. The company doesn't release sales results, but Furniture/Today estimates its furniture, bedding and accessories sales at more than $200 million last year with total revenues of more than $440 million.
| Hymas |
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