R.C. Willey in Las Vegas
By Clint Engel -- Furniture Today, October 29, 2001
HENDERSON, Nev. — R.C. Willey Home Furnishings kicked off the opening of its new store here with a visit from legendary investor Warren Buffett and news that a second store in greater Las Vegas is on the drawing board.
Buffett, chairman of Omaha, Neb.-based Berkshire Hathaway, which acquired R.C. Willey six years ago, visited with industry executives, the media and guests in a quick tour of the 210,000-square-foot warehouse and showroom facility in this southeast suburb of Las Vegas.
"I can tell you we will have another store in Las Vegas," Buffett said, noting the strength of the market and how well the first store has been received by consumers since its soft opening.
He didn't predict when a second store would open, but said work on it will begin next year if all goes according to plan.
Bill Child, chairman of Salt Lake City-based R.C. Willey, said the company is looking at the Summerlin area northwest of Las Vegas, which, like Henderson, has seen strong growth.
In the meantime, the retailer plans to get the most out of this first store, which has a 125,000-square-foot showroom with roughly 80% of the space dedicated to furniture, bedding and accessories.
Scott Hymas, R.C. Willey's chief executive officer, noted that the company has invested more than $15 million in the store and said it already was off to a strong start without any advertising, which began last week. Sales on a recent Saturday were more than $400,000, he said.
Hymas projected the store could generate $55 million to $60 million in sales its first year and eventually upwards of $80 million annually.
In addition to furniture, the store also sells consumer electronics, appliances and some seasonal goods.
| R.C. Willey's first Las Vegas store and warehouse complex covers 210,000 square feet, including a 125,000-square-foot showroom. |
| Berkshire Hathaway Chairman Warren Buffett, left, and R.C. Willey's Bill Child at the grand opening of the new store last week. |
