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Top 100 Furniture Stores

Staff Staff -- Furniture Today, May 24, 2005

Top 100
RANK COMPANY, HOME BASE & NOTES ESTIMATED FURNITURE, BEDDING ACCESSORIES SALES IN $ MILLIONS PERCENT CHANGE NUMBER OF UNITS SELLING SPACE ALL STORES FURNITURE, BEDDING, ACCESSORIES
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 2003 and 2002 unless otherwise noted. Average unit size in notes refers to selling space. NR = Not ranked NA = Not available/not applicable
(last year) 2003 2002 2002 to 2003 2003 2002 sq. ft. 1000s percent of selling space average sales per sq. ft.
1 Rooms To Go $1,380.0 $1,300.0 6.2% 95 95 NA 100% $850
(1) Seffner, Fla.
Full-service, midpriced chain operating Rooms To Go throughout Florida and in Georgia, the Carolinas, Tennessee and Texas. Operations include 68 regular-format stores (including one franchise store in Puerto Rico), 18 Rooms To Go Kids stores and nine clearance centers. Rooms To Go stores range from 16,000 to 30,000 square feet. Kids stores are about 8,000 square feet. Average stock turns, 8 times. In March 2004, a Rooms To Go affiliate sold its nearly 50% stake in Wickes Furniture to investment firm Sun Capital Partners of Boca Raton, Fla., making Sun Capital the sole controlling owner of the 34-store Wickes. RTG said the deal frees it from a distraction and frees up resources to focus on its own operations, including expansion into unidentified new markets. In 2003, relocated two stores: in Jensen Beach, Fla., and Orlando; expanded its Charlotte, N.C., distribution center to 450,000 square feet and completed an 850,000-square-foot distribution center in Dallas that replaced a smaller facility. This year, has opened two Rooms To Go Kids stores in Greensboro, N.C., and Nashville, and its first Rooms To Go Beds store in Palm Beach, Fla. Expects to open two to three more bedding stores in Florida this year; and six to eight overall stores next year.
2 Pier 1 Imports $1,301.3 $1,238.5 5.1% 1,062 972 7,987 NA NA
(2) Fort Worth, Texas $1,699.5 total revenues
Fiscal years ended Feb. 28 and March 1. Publicly held specialist in imported midpriced home furnishings and related merchandise. At fiscal year-end operated 1,015 Pier 1 stores and 40 Cargokids stores in the United States, seven stores in Puerto Rico, 68 in Canada, 20 in Mexico within Sears de Mexico, and 29 stores outside North America. Sales outside the United States and Puerto Rico of $168.7 million in 2003 and $131.5 million in 2002 have been excluded. Includes sales of about $19.8 million in 2003 and $13.5 million in 2002 from Cargokids. Sales from other merchandise areas, about $392 million. Delivery income, royalties and rental revenues, about $5.9 million. Furniture accounts for approximately 40% of sales. Units average 7,700 square feet for Pier 1 stores and 3,625 square feet for Cargokids. Average stock turns, 2.2 times for Pier 1 and 1.5 times for Cargokids. Average gross margin, 54% for Pier 1 and 40% for Cargokids. In 2003, the retailer opened 111 Pier 1 stores and closed 36. Plans for 2004 include opening approximately 110 Pier 1 stores and closing 40 in the United States. Most store closings will be relocations. Opened 22 Cargokids stores, including its first in the state of Florida, and closed seven last year. This year, has opened six Cargokids stores in North Carolina, Florida, Virginia and Maryland as well as closing one in North Carolina. Will open additional stores in the Southeast region of the United States to end the year with 52 Cargokids stores.
3 Ethan Allen $1,135.7 $1,156.1 -1.8% 283 284 NA NA NA
(3) Danbury, Conn. $1,190.4 total revenues
Oldest and largest network of manufacturers' gallery stores, including 114 company-owned and 169 dealer-owned stores in the United States. Also operates 28 international stores, figures not included. Sales from other merchandise areas, about $46.2 million. Revenues other than sales, $8.5 million. In 2003, opened four stores and closed five. In June 2003, the manufacturer and retailer introduced its dealers to the company's new store design — twice the size as most of its current stores — at its Alpharetta, Ga., location. Ethan Allen also introduced a new line of casual country case goods, upholstery and accents and a new Ethan Allen Kids and Baby collection. In August 2003, Ethan Allen opened its first dedicated Ethan Allen Kids store in Farmington, Conn. The store offers everything from case goods, accents and upholstery to comforters, matching sheet sets and window treatments. A second Kids store opened in Reston, Va., in December.
4 Berkshire Hathaway
(6) furniture division $1,000.8 $878.8 13.9% 30 27 NA NA NA
Omaha, Neb. $1,586.3 total revenues
Owns Nebraska Furniture Mart in Omaha, Neb.; R.C. Willey of Salt Lake City; Star Furniture of Houston; and Jordan's Furniture of Avon, Mass. NFM operates a 475,000-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 and a 450,000-square-foot store in Kansas City. NFM also owns Homemakers Furniture of Iowa with one store each in Des Moines and Urbandale, Iowa. R.C. Willey operates 12 stores — one in Boise, Idaho; two in Nevada in Henderson and Summerlin; 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 ten stores ranging in size from 50,000 to 135,000 square feet in Houston, Austin, San Antonio and Bryan/College Station, Texas. Store count includes a clearance center. 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, $512.5 million. Revenues other than sales, $73 million. NFM opened a 450,000-square-foot store in Kansas City in August 2003 and completed its new 625,000-square-foot warehouse and distribution center in Omaha in June. In April 2003, Star opened a 100,000-square-foot store outside of Houston, in Sugar Land, Texas. In 2004, the retailer plans to open one or two Thomasville stores. R.C. Willey opened a new store in Summerlin, Nev. in May 2003. The retailer will begin construction on a 170,000-square-foot store — including 40,000 square feet of warehouse space — this June, with an opening planned for Spring 2005 in Reno, Nev. Jordan's plans to open a new store in Reading, Mass., this coming fall, and a new distribution facility is scheduled to open in mid-2004.
5 Levitz Home Furnishings
(4) $973.0 $957.1 1.7% 127 128 NA 100% NA
Woodbury, N.Y. $1,000.0 total revenues
Fiscal years end March 31. Sales for fiscal year ending March 2003 have been revised. Majority owned by funds and accounts managed by Resurgence Asset Management. Includes 74 promotional to midpriced Levitz stores and 53 promotional to midpriced Seaman's stores, including 11 Seaman's Kids units. Revenues other than sales, $27 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. Average stock turns, 4.6 times for Seaman's and 3.6 times for Levitz. Average gross margin, 48.6% for Seaman's and 47.9% for Levitz. In November 2003, LHFI Chief Executive Officer and long-time Seaman's leader Alan Rosenberg died. This and other events led to changes in top management. LHFI is now led by CEO Jay Carothers and President and Chief Operating Officer Mark Scott. This past summer, closed one Seaman's in Paramus, N.J. In April 2004, announced plans to open 11 stores over the next two years, including five Levitz units in greater New York, Seattle and Southern and Northern California this year. It is also adjusting its merchandising and marketing strategies to better distinguish the two brands. The company refocused Seaman's as a promotional to midpriced room-package and lifestyle collections retailer leaning toward contemporary styles, and is positioning Levitz as a more fashion-oriented casual lifestyle player with both category and cross-category lifestyle displays that top out a step above Seaman's.
6 Ikea $950.0 $873.0 8.8% 18 15 NA NA NA
(7) Plymouth Meeting, Pa. $1,470.0 total revenues
Fiscal years end Aug. 31. Sweden-based specialist with a large ready-to-assemble business. Eighteen of 29 North American stores at fiscal year-end are in the United States; two full-line stores in metro New York; two in the San Francisco Bay area; four in metro Los Angeles; and one each in Houston; metro Philadelphia; Virginia; Baltimore and College Park, Md.; Paramus, N.J.; Pittsburgh; Chicago; 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, $520 million. In January 2003, Ikea opened its new 325,000-square-foot store in the Philadelphia suburb of Conshohocken, Pa., replacing its Plymouth Meeting store. In May, relocated the City of Industry store to Covina, Calif., and the Tustin, Calif., store to Costa Mesa, Calif. In June, Ikea opened stores in College Park, Md., and in Paramus, N.J. In August 2003, opened a store in Palo Alto, Calif. Plans for 2004 include opening stores in Bloomington, Minn., and New Haven, Conn., this summer; in the Philadelphia area (its second store in the market) in August; in Houston, a relocation, Aug. 4; and in Tempe, Ariz., in the fall. Plans to enter the Dallas market with a store in Frisco, Texas, in the summer of 2005. Other new markets planned for 2005, include Atlanta and Stoughton, Mass. — both scheduled to open summer 2005.
7 La-Z-Boy Furniture Galleries
(5) $946.2 $920.2 2.8% 302 295 4,020 100% $235
Monroe, Mich. $1,019.7 total revenues
Network of independently owned, free-standing units with 294 Furniture Galleries (62 using the New Generation format) and 8 Showcase Shoppes in the United States at year-end. Fabric protection and delivery charges, $73.5 million. Does not include revenues from the 22 La-Z-Boy stores in Canada with sales of $59.8 million in 2003 or the 20 La-Z-Boy stores in Canada with sales of $59.9 million in 2002 or the one store outside North America. The average size for all stores is 13,313 square feet, while the New Generation stores average 15,524 square feet. Average stock turns, 6.3 times. During 2003, 12 new stores were opened and another 10 converted to the New Generation format. La-Z-Boy also closed five stores last year. The New Generation stores offer an expanded selection of home accents as well as additional accent furniture from Hammary. Plans to end 2004 with 320 stores in the United States. La-Z-Boy retailers in the Top 100 are C.S. Wo & Sons and McMahan's.
8 American Signature $750.0 $700.0 7.1% 94 80 NA 100% NA
(9) Columbus, Ohio
Owned by Schottenstein Stores Corp. Fiscal years ended Aug. 2 and Aug. 3. Full-service retailer operating 80 promotional to midpriced Value City Furniture stores and 14 midpriced to high-end American Signature Home stores at fiscal year-end in Delaware, Florida, Georgia, 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 — revenues from manufacturing operations are not included. In-store galleries: American Signature, 80. In 2003, opened 14 stores, including stores in two new states — Georgia and Florida. August 2003, Value City changed its corporate name to American Signature Inc. — parent now to Value City Furniture and American Signature Home stores. In October, Value City launched American Signature galleries in all 80 of its stores. The company plans to have 100 total stores by the end of July 2004.
9 Havertys $745.0 $704.0 5.8% 113 111 3,919 100% $193
(8) Atlanta $751.0 total revenues
Publicly held, full-service, midpriced to upper-end chain with 113 stores in 75 cities in 15 southern and central states at year-end. Credit income, $6 million. Stores average 34,700 square feet of selling space. Major lines include Bernhardt, Broyhill, Lane, La-Z-Boy, Sealy and Serta. Havertys phased out Furniture Brands International's Thomasville brand from its floors early this year as the two companies announced the end of their six-year-old alliance last September. Average stock turns, 3.3 times. Average gross margin, excluding warehousing, occupancy and purchasing department expenses, 49.1%. In 2003, opened four stores, one of which was a relocation in Jackson, Miss. Two stores were in new markets for Havertys — one in San Antonio and one in West Palm Beach, Fla. The remaining store opening was in Bowie, Md., a new state for Havertys, but part of its Washington, D.C., metro market. Closed one older store in Little Rock, Ark., last year. In 2004, plans are to open three stores — one in San Antonio and two in new markets — Columbia, Md., and Cincinnati, Ohio — the 16th state for the company. No store closings are planned for 2004.
10 Ashley Furniture HomeStores
(20) $600.0 $350.0 71.4% 121 102 NA 100% NA
Arcadia, Wis.
Fast-growing manufacturer's retail store network of 116 licensed and five company-owned promotional to midpriced stores in the United States. Figures exclude stores in Canada and Japan. Stores are located in Alabama, Alaska, Arkansas, Arizona, California, Colorado, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Minnesota, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Wisconsin, and Wyoming. Units average 30,000 square feet. In 2003, opened 19 stores, including its first stores in California, North Dakota, Nebraska, New Mexico, Ohio, Tennessee, Virginia, Vermont and Wyoming. Ashley Furniture HomeStore retailers on the Top 100 include Furniture Outlets USA.
11 Pottery Barn $600.0 $485.0 23.7% 245 210 NA NA NA
(15) San Francisco
Fiscal years ended Feb. 1 and Feb. 2. Publicly held specialty home furnishings retailer offering products through retail stores, catalogs and e-commerce Web sites. 2002 sales figure revised. At fiscal year-end, operated 174 Pottery Barn stores, including four in Toronto and one in Vancouver, British Columbia, and 78 Pottery Barn Kids, including two in Toronto. Figures do not include the seven stores in Canada. A division of Williams-Sonoma, Pottery Barn brands include Pottery Barn, Pottery Barn Kids and PBteen. In 2003, netted 15 Pottery Barn stores, including two in Canada. Pottery Barn Kids opened 22 new stores and expanded into 12 new markets. In April 2003, the company launched a new catalog, PBteen, focusing exclusively on the teenage market, offering furniture, rugs, lighting, bedding and accessories. In late 2003, launched the PBteen e-commerce Web site. Store openings for 2004 include nine Pottery Barn Kids stores and a net seven Pottery Barn stores. Williams-Sonoma opened its first West Elm retail store and launched the West Elm e-commerce website in 2003. West Elm, launched as a catalog in 2002, offers furniture, decorative accessories, tabletop items and textiles. Williams-Sonoma's newest catalog, Williams-Sonoma Home, will be launched during the third quarter. The catalog, offering bedroom and dining room soft goods and dinnerware and some furniture, will replace the company's existing Chambers catalog.
12 Art Van $555.0 $560.0 -0.9% 30 29 NA 100% NA
(10) Warren, Mich.
Family-owned, full-service, midpriced to high-end Michigan chain with 13 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, Traverse City and Petoskey, Mich. In 2003, completed the remodel of the Southfield store in metro Detroit, expanding the showroom and adding a clearance center inside the store. Opened a 75,000-square-foot showroom in Chesterfield Township in metro Detroit — the retailer's 30th store. At the end of 2005, will open an 85,000-square-foot store in Rochester, a suburb of Detroit.
13 Rhodes $534.0 $544.0 -1.8% 92 92 NA 100% NA
(11) Atlanta
Fiscal years ended Feb. 29 and Feb. 28. Primarily midpriced retailer operating in 13 Southern and Midwestern states. Also operates John M. Smyth Homemakers in the Chicago area and Marks Fitzgerald in the Birmingham, Ala., area. Fabric protection and other non-merchandise revenues, $47 million. Rhodes relocated three stores in 2003, in Raleigh and Charlotte, N.C., and Tallahassee, Tenn. Earlier this year, the retailer opened a 320,000-square-foot distribution center in Greensboro, N.C., replacing a smaller warehouse there. Rhodes plans to relocate three stores in 2004 — two in Atlanta and one in Nashville.
14 The Bombay Co. $475.5 $411.5 15.6% 415 370 1,098 100% $433
(13) Fort Worth, Texas $526.2 total revenues
Fiscal years ended Jan. 31 and Feb. 1. Publicly held specialty chain operating Bombay and BombayKIDS stores in 42 states and nine Canadian provinces. Also sells through its catalog and e-commerce site. Figures do not include the 56 Canadian units with revenues of $70 million in 2003 or the 52 Canadian units with revenues of $51.7 million in 2002. Home textiles sales, $28.3 million. Revenues from Bombay's wholesale subsidiary, Bailey Street Trading Co., $15.8 million. Delivery and other income, $6.6 million. 2002 sales figure revised to exclude textiles and wholesale revenues. Occasional furniture, primarily ready-to-assemble and larger furniture such as bedroom, living room, dining room and home office, accounted for 45% of sales in 2003 and 48% in 2002. Stores average 2,646 square feet. Average stock turns, 2.2 times. Average gross margin, 50%. In 2003, opened 77 stores, including 30 BombayKIDS stores, and closed 32. In 2004, the company expects to continue to grow its base of core Bombay stores by about 5%, opening approximately 75 to 80 new stores, including approximately 15 BombayKIDS stores. It will continue to migrate the store base from mall to off-mall locations, while closing 35 to 40 stores, ending the year with about 510 stores in the U.S. and Canada.
15 Thomasville Home Furnishings Stores
(12) $467.0 $467.0 0.0% 131 131 1,572 100% $297
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 13 international units in Canada, Mexico, Japan, the Dominican Republic and Shanghai, China, with sales of $18 million both years. 2002 figures revised to exclude the international units. Units average about 12,000 square feet. About 25 new Thomasville stores are planned for 2004, including at least two more company-owned stores in the Bay area. Expects to have 230 U.S. stores by the end of 2007. Thomasville store dealers at year-end on the Top 100 include Darvin, Hendricks Furniture Group, Kirschman's, Kittle's, Mathis Bros., and Furniture Outlets USA.
16 Raymour & Flanigan $462.9 $395.1 17.2% 52 49 2,688 100% $181
(16) Liverpool, N.Y. $469.7 total revenues
Family-owned, full-service, midpriced Northeastern chain with stores in New York, Massachusetts, Pennsylvania, New Jersey, Connecticut and Delaware. Miscellaneous and credit income, $6.8 million. Showrooms are gallerized, averaging 52,000 square feet. Average stock turns 4.7 times. Average gross margin, 43%. In 2003, opened stores in King of Prussia and Exton, Pa.; and Waterford, Conn., and relocated stores in Henrietta, N.Y. and Voorhees, N.J. In 2004, plans to open stores in Danbury, Conn.; Stroudsburg, Pa.; and Princeton, N.J. and relocate its store in Latham, N.Y. Also plans to renovate and/or expand stores in Egg Harbor, N.J.; Greece, Clifton Park, Utica and Watertown, N.Y.; Montgomeryville, Pa.; Waterbury, Conn.; and West Springfield, Mass. as well as looking for replacement stores in Avon, Conn. and Middletown, N.Y. Closed its Oswego, N.Y. store in February 2004.
17 Select Comfort $439.2 $319.0 37.7% 344 322 NA 100% $1,113
(22) Minneapolis $458.5 total revenues
Publicly held, vertically integrated air bed specialist and direct marketer with 344 retail stores, including 13 leased departments in Bed Bath and Beyond stores. Sales of approximately 4.2% or $19.2 million, through its wholesale channel (QVC shopping channel, home furnishings retailers, and specialty bedding retailers) are excluded. Stores are primarily mall-based located in 46 states. Retail stores account for about 78.5% of net sales. Units average about 990 square feet. Average stock turns, 27 times. Average gross margin, 62.7%. In 2003, opened 27 stores, closed 5, and remodeled nearly 100 older stores to a newer design with improved Sleep Number branding and product presentation. Plans to add 25 to 30 new retail stores in 2004, including testing stores in non-mall locations. The new stores will primarily be in existing markets, including Boston, Los Angeles and New York. Also plans to remodel 133 additional stores to reflect the Sleep Number brand. In April 2004, introduced a sofa-sleeper to select stores. The sofa-sleeper is being produced in partnership with Berkline/BenchCraft.
18 W.S. Badcock $439.0 $427.0 2.8% 331 336 5,096 80% $108
(14) Mulberry, Fla.
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 Badcock Home Furniture & more. Revenues from carpeting, electronics, appliances and other non-furniture merchandise, not included. Average stock turns, 5.7 times. Continues to convert its older stores to its new prototype, Badcock Home Furniture & more stores, having completed 142 conversions to date. The retailer is converting about 40 or 50 a year, and should be complete in four years. May 2004, will break ground on a new distribution center in Mebane, N.C., to be online around January 2005. The retailer's goal of opening more than 60 new stores within five years is on track. W.S. Badcock is celebrating its 100th anniversary in 2004.
19 Crate & Barrel $435.5 $371.2 17.3% 123 117 NA NA NA
(17) Northbrook, Ill. $886.2 total revenues
Fiscal years ended Feb. 1 and Feb. 2. Lifestyle specialty retailer carrying midpriced to high-end furniture, primarily in 40 furniture stores in these metro markets: five in New York; five in Chicago; four each in San Francisco and Los Angeles; three each in Boston and Washington, D.C.; two each in Dallas, Denver, Phoenix, Seattle and Atlanta; and one each in Cleveland; Detroit; Philadelphia; Richmond, Va.; Sacramento, Calif.; and Houston. Crate & Barrel also operates a CB2 in Chicago — a store that is more contemporary and urban and geared to the younger consumer. Sales from gifts, tabletop items and other housewares, $450.7 million. In 2003, opened eight stores, including four carrying furniture — one each in Richmond, Va.; Seattle; Cleveland; and Los Angeles. Plans to end 2004 with 138 stores, opening six units carrying furniture — one each in Tucson, Ariz.; New York; Denver; Portland, Ore.; St. Louis; and Austin, Texas. Will also open a second CB2 in Chicago this summer.
20 Bassett Furniture Direct
(23) Bassett, Va. $368.7 $315.2 17.0% 101 85 1,919 100% $215
Fiscal years ended Nov. 30 and Dec. 1. Manufacturer's retail store network of 96 licensed and five company-owned midpriced stores in the United States. Units average 19,000 square feet. Average gross margin, 48%. Netted 16 new stores in 2003. This year, has opened stores in Stonecrest and North Point, Ga.; Jacksonville, Fla.; Belair, Md.; Evansville, Ind.; and Natick, Mass. Other store openings planned include Cincinnati and Columbus, Ohio; San Francisco and Sacramento, Calif.; Southern California; Phoenix; and South Florida. Plans to end 2004 with 117 units. Also in 2004, is rolling out its first interior overhaul to all stores, including new signage, paint, flat-panel TV monitors and light sign projectors designed to liven up stores as well as make them more uniform and appealing to younger consumers.
21 Wickes Furniture $342.0 $309.0 10.7% 34 33 NA 100% NA
(18) Wheeling, Ill.
Owned by Sun Capital Partners. Rooms To Go, which was a part owner of Wickes, sold its nearly 50% stake in Wickes Furniture to Sun Capital Partners, March 2004. Chain of midpriced warehouse showrooms and satellite stores: 13 in greater Chicago, 10 in Southern Calif., five in Minneapolis, three in Pittsburgh and three in Portland, Ore., at year-end. In September 2003, opened a unit in Downers Grove, Ill. The 35,000-square-foot store is the prototype for a new format inspired by Rooms To Go. Although RTG sold its stake, Wickes will be able to hold onto a lot of the RTG strategy that had become a part of the retailer since the original acquisition in 2002. Wickes opened a 573,000-square-foot distribution center in Rancho Cucamonga, Calif., last year to support its existing stores and aggressive expansion plans for southern California. Early this year, closed a store in Pittsburgh. This spring, another RTG-like store will open in Rancho Cucamongo, Calif. Wickes also will open a replacement store in Naperville, Ill., late this year or early next year. The retailer will look to open two to four stores a year over the next several years.
22 The RoomStore $331.1 $324.8 1.9% 66 65 1,670 100% $198
(21) Richmond, Va. $355.9 total revenues
Owned by Heilig-Meyers, which filed for Chapter 11 bankruptcy protection in August 2000. Fiscal years ended Feb. 29 and Feb. 28. Not affiliated with the Phoenix-based The RoomStore. The RoomStore operates 66 stores in greater Baltimore/Washington; 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. Fabric protection and other revenues, $24.8 million. February 2004, opened a new store in Houston. Will open a new store in Washington this coming August.
23 Breuners Home Furnishings Corp.
(19) $323.0 $361.8 -10.7% 47 47 1,877 100% $172
Lancaster, Pa. $332.6 total revenues
Fiscal years end Jan. 31. Majority shareholder Apollo Management LP. Midpriced to high-end stores operating under three retail brands at fiscal year-end: Breuners on the West Coast and Huffman Koos and Good's Furniture in the Northeast. Operated 10 stores under Breuners in Northern California in the Sacramento Valley and San Francisco Bay area; 17 Good's stores in Pennsylvania, New Jersey and Delaware, including one clearance center; and 20 Huffman Koos in New York, New Jersey and Connecticut, including two clearance centers. Carpeting and concession income, $1.4 million. Fabric protection, $8.2 million. Units average 39,938 square feet. Average stock turns, 2.6 times. Average gross margin, 47%. In April of this year, began construction of a 73,000-square-foot Breuners store in Campbell, Calif. - south of San Francisco near San Jose. The store, which is scheduled to open late this year or early next year, will replace an existing unit nearby.
24 Slumberland $305.4 $275.5 10.9% 85 74 NA 100% NA
(25) Little Canada, Minn.
Family-owned, midpriced retailer specializing in products for the bedroom and great room. Operates 30 corporate stores and 55 franchised units throughout Minnesota, Wisconsin, Illinois, Iowa, Missouri, Montana, Nebraska, North Dakota and South Dakota. Units range from 10,000 to 35,000 square feet. In 2003, opened nine franchised units, including one in Bozeman, Mont. — a new state — as well as two corporate units in Fargo, N.D., and Albertville, Minn.
25 Cost Plus World Market
(29) $305.0 $244.0 25.0% 204 175 3,400 25% $359
Oakland, Calif. $801.6 total revenues
Fiscal years ended Jan. 31 and Feb. 1. Publicly held specialist in imported casual home furnishings and home entertaining products. At year-end, operated 204 stores in 67 markets in 26 states from California to the East Coast. East Coast units extend from Virginia to Jacksonsville, Fla. Cost Plus' furniture is primarily ready-to-assemble living and dining room pieces, unusual handcrafted case goods and occasional pieces, and outdoor furniture made from rattan, hardwood and wrought iron. Sales from other merchandise areas, $496.6 million. Units average 16,000 square feet of selling space. In 2003, opened 31 stores, including 10 in the new markets of Rockford, Ill.; Colorado Springs, Colo.; Richmond, Va.; Chico and Monterey, Calif.; Billings, Mont.; Corpus Christi, Texas; Charleston, S.C.; and Jacksonville, Fla. Also closed two stores, one each in Modesto and Walnut Creek, Calif. The retailer plans to increase its store base by about 16% each year toward a future goal of 600 stores nationwide. In 2004, will add a net 33 new stores. Also will expand its 500,000-square-foot Virginia distribution center to one million square feet by fiscal 2005.
26 American Furniture Warehouse
(24) $304.0 $299.0 1.7% 9 9 784 100% $385
Englewood, Colo. $305.0 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, $1 million. Units average 87,000 square feet. Average stock turns, 8.6 times. Average gross margin, 35%. Added 84,000 square feet to the Englewood store with an upscale furniture collection, walks with trees, shops and galleries. The new addition opened February 2004, pushed the total retail space at that location to nearly 200,000 square feet. The expansion also features spaces leased to third parties, including a Corian countertop center, a hot tub and spa area, and carpet exchange. Is looking at purchasing property north of Denver about halfway between Denver and Fort Collins. American also is looking at Grand Junction for future expansion.
27 Restoration Hardware $290.0 $273.0 6.2% 100 102 NA NA NA
(26) Corte Madera, Calif. $438.5 total revenues
Fiscal years ended Jan. 31 and Feb. 1. Publicly held, specialty lifestyle-oriented home furnishings retailer with 100 stores in 31 states and the District of Columbia. Also operates three stores in Canada, furniture sales not included. In addition to the retail locations, Restoration Hardware offers classic American-styled furniture, home furnishings, lighting, functional and decorative hardware, home textiles and discovery items through its Web site and catalogs. Units average 6,000 square feet of selling space. Fall 2003, the retailer opened two new stores in Richmond, Va., and Cleveland, Ohio and re-opened the Corte Madera, Calif., store, which had been closed for expansion. The three stores were based on Restoration Hardware's new prototype, which is designed to showcase existing and new core businesses with greater clarity. Core businesses include furniture, premium textiles, bath fixtures and hardware, lighting and decorative accessories. Also, closed four under-performing stores. Plans for 2004 include the expansion of one existing store and the opening of one to two additional new stores. In March 2004, closed one under-performing store and is considering the closure of one to two more.
28 Mattress Firm $285.0 $265.1 7.5% 310 302 NA 100% NA
(27) Houston
Owned by Sun Mattress, an affiliate of Sun Capital Partners. Fiscal years ended Feb. 3 and Jan. 28. Bedding specialty retailer with 110 franchised-owned stores and 200 company-owned units at year-end. Greatest number of stores in Dallas, Houston, Atlanta, Phoenix, Tampa, Denver and San Antonio. Units average 4,000 square feet. Carries Sealy and Stearns & Foster in all markets and Simmons, Spring Air and Tempur-Pedic in some markets. Opened 15 stores in 2003 in existing markets, including Dallas; Tampa Fla.; Columbus, Ohio; and Phoenix. Also closed seven. In June 2003, acquired 18 stores in the Phoenix area from a franchisee. Added Simmons, Spring Air and Tempur-Pedic brands in some of its markets. In 2004, plans to open more than 30 new stores in existing markets for a net gain of 25 units.
29 Sleepy's $281.0 $252.0 11.5% 276 248 1,250 100% $225
(28) Bethpage, N.Y.
Bedding specialty chain in metro New York, New Jersey, Connecticut, Pennsylvania, Delaware and Massachusetts. Figures include seven Kleinsleep stores in metro New York and from Sleepy's toll-free telemarketing division. Units average 4,500 square feet. In 2003, opened 35 stores and closed seven. Plans to open stores in Massachusetts, Southern New Jersey, Connecticut and Eastern Pennsylvania in 2004 ending the year with 320 stores.
30 City Furniture $263.7 $220.7 19.5% 13 13 562 100% $470
(32) Fort Lauderdale, 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 43,000 square feet. In February 2004, began construction on a 220,000-square-foot addition to its 660,000-square-foot headquarters, distribution center and showroom in Fort Lauderdale. This summer, City Furniture will open three Ashley Furniture HomeStores in Sunrise, West Palm Beach and Miami. Future plans are to open a total of 13 Ashley Furniture HomeStores in South Florida. By the end of this year, City also hopes to have under construction three City Furniture stores, including a 75,000-square-foot store in Miami and a 65,000-square-foot store in Stuart, Fla.; and two Ashley stores — 35,000-square-foot showrooms in Stuart and Davie, Fla. The retailer also hopes to enter Florida's West Coast with City stores in Fort Myers, Naples and Bonita Springs in 2006 and 2007 as well as Ashley stores in Fort Myers and Bonita Springs.
31 Finger Furniture $247.0 $240.0 2.9% 6 6 NA 100% NA
(30) Houston
Six full-service, midpriced stores in metro Houston. Units range from 40,000 to 250,000 square feet.
32 Mathis Bros. $242.0 $201.5 20.1% 9 7 489 100% $495
(34) Oklahoma City
Full-service, promotional to high-end stores, five in Oklahoma City—a main Mathis Brothers showroom, a Thomasville Home Furnishings store, a Drexel Heritage Home Inspirations store, a promotional Factory Direct Furniture & Beds store, and an Evans Furniture store — three in Tulsa, Okla., including a Factory Direct Furniture & Beds store and an Evans Furniture store — and one in Indio, Calif. Has ownership stake in Factory Direct bedding factory — revenues not included. In-store galleries include Henredon, two, averaging 7,500 square feet; Century, two, averaging 5,000 square feet; and Bernhardt, two, averaging 6,500 square feet. Average stock turns, 5.6 times. In June 2003, Mathis Bros. acquired two-store Evans Furniture with stores in Oklahoma City and Tulsa. The stores will continue to operate as Evans Furniture. Late in the year, Mathis Bros. completed the expansion of its Indio, Calif., unit — the warehouse now has about 150,000 square feet, and the showroom, about 200,000 square feet of selling space.
33 Robb & Stucky $230.0 $218.0 5.5% 14 13 600 100% $383
(33) 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 Boca Raton, 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. Opened a new 80,000-square-foot store in Boca Raton, Fla., at the end of March 2003 — the retailer's first store on Florida's east coast. Scheduled to open two full-line stores in Tampa and Bonita Springs and one Patio/Casual Living new concept store in Bonita Springs in the fourth quarter of 2004.
34 Bob's Discount $205.0 $163.8 25.1% 19 18 721 100% $284
(42) Manchester, Conn.
Owned by Gene and Anja Rosenberg, Bob Kaufman, Joe Goodman and Stan Adelstein. Promotional to midpriced chain with 11 stores in Connecticut, five in Massachusetts and three in New Hampshire. Units average 37,960 square feet. Average stock turns, 7.6 times. Average gross margin, 47%. Opened a 72,000-square-foot store in Worcester, Mass., in December 2003. In February 2004, opened a 35,000-square-foot showroom in Manchester, N.H. Other store openings this year include a 56,000-square-foot unit in Portland, Maine, in May, a 57,000-square-foot unit in Southington, Conn., in July, and one in Natick, Mass., this December. Will close stores in Waterbury, Bristol and Simsbury, Conn.
35 Hendricks Furniture Group
(36) $198.0 $191.1 3.6% 19 15 NA 100% NA
Hickory, N.C.
Owned by Larry Hendricks. High-end, discount retailer with 13 stores in North Carolina — six stores in Hickory, including a clearance center; three in Charlotte, including a clearance center; two in High Point; and one each in Mocksville and Winston-Salem. Operations include Boyles Furniture, Thomasville Gallery By Boyles, Boyles Sleep to Live Center, Boyles Country Shop, two Norris Furniture units — in Fort Myers and Naples, Fla. — and four Thomasville Home Furnishings stores in Fort Lauderdale, Fla., and greater Atlanta. Opened the four Thomasville stores in 2003. In March 2004, opened the first of its Drexel Heritage stores in Pineville, N.C. Is planning to open a 45,000-square-foot Boyles store in northwest Charlotte in May or June of 2004. Long-term growth plans call for 20 Thomasville stores in four Southeast states — Georgia, Florida, North Carolina and South Carolina — and five Drexel Heritage stores in North Carolina.
36 Mattress Giant $198.0 $194.0 2.1% 252 230 1,050 100% $188
(35) Addison, Texas
Bedding specialist with stores in Texas, Florida, Maine, Missouri, Minnesota, Illinois, New Jersey, New Hampshire, Pennsylvania, Rhode Island, Delaware, Maryland, Massachusetts and Wisconsin. Units average 4,500 square feet. In 2003, opened 28 stores and closed six. The six stores closed were in the Milwaukee area. Bedding brands carried include American Bedding, IBC, King Koil, Kingsdown, Orthomatic, Serta, Simmons, Spring Air and United.
37 Sofa Express $185.0 $180.0 2.8% 55 49 NA 100% NA
(37) Groveport, Ohio $195.0 total revenues
Owned by manufacturer Klaussner Furniture Inds. Living room and family room specialty retailer emphasizing quick delivery of both in-stock and custom orders. Operates stores under the Sofa Express name in Ohio, North Carolina, Florida, Georgia, Indiana, South Carolina and Kentucky and under the Sofa Connection name in Tennessee and Nevada. Fabric and leather protection revenues and credit and delivery income, about $10 million. In 2003, opened three stores in Florida and one store each in Indiana, Ohio and Georgia — a new state. Has opened five stores so far this year, including two stores in Atlanta and one in Cincinnati, and plans to open about 11 new stores in 2004 across all markets. Has also closed one store this year. Plans a new distribution center in Portland, Tenn.
38 HOM Furniture $184.1 $157.3 17.0% 12 11 NA 100% NA
(43) Coon Rapids, Minn. $191.4 total revenues
Privately owned, midpriced to high-end chain. At year-end, operated 10 HOM Furniture stores—six in greater Minneapolis/St. Paul (Bloomington, Coon Rapids, Lakeville, Plymouth, Woodbury and Roseville, Minn.); and one each in Hermantown, Minn.; Sioux City, Iowa; Sioux Falls, S.D.; and Fargo, N.D. Also operates one HOM Bedroom Express in Sioux Falls, S.D., and a HOM Outlet Superstore in Crystal, Minn. In February 2003, opened a showroom in Hermantown, Minn. In March of this year, opened a new store in Eau Claire, Wis.
39 Kane's Furniture $176.0 $164.5 7.0% 14 13 840 100% $210
(40) Pinellas Park, Fla.
Full-service, midpriced stores, primarily on Florida's west coast; three stores in Orlando, two in Tampa and one each in Brandon, Fort Myers, Port Charlotte, Sarasota, Clearwater, New Port Richey, St. Petersburg, Ocala and Melbourne. Units average 60,000 square feet. In 2003, opened a store in Brandon. Plans to open a store in Ocoee in 2004. Earlier this year, added 1,000- to 1,500-square-foot GuildCraft galleries to all of its stores.
40 Furnitureland South $166.9 $166.9 0.0% 1 1 850 100% $209
(38) High Point $167.0 total revenues
Owned by Darrell Harris and family. Full-service, midpriced to high-end discount retailer operating a 1.57 million-square-foot furniture operation, including a 410,000-square-foot main store, a 500,000-square-foot FLS Mart, connected by an indoor skywalk to the main store, and a 200,000-square-foot clearance center. Actual selling space is 850,000 square feet — including 50,000 square feet that was added late in 2003. Also operates a 70,000-square-foot, midpriced store in High Point called Furnitureland Express — revenues, square footage and store count not included in the figures. Sales from home textiles, about $100,000. 2002 sales figure revised to exclude sales of home textiles. Operations include about 70 manufacturers' galleries, including Century, Bernhardt, Lexington, Stanley and Broyhill each 15,000 square feet; Lane and Fine Furniture, each 10,000 square feet; Hickory White and Universal, each 7,000 square feet; American Drew, 9,000 square feet; Pennsylvania House, 8,000 square feet and Hooker, 4,000 square feet. New galleries being added in 2004 include Schnadig, Lortz, Eddy West and Bentley Churchill Upholstery. Average stock turns, nine times. Late in 2003, completed construction of a 60,000-square-foot expansion, including an indoor skywalk that connects its main showroom to its FLS Mart. The retailer is considering 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.
41 Mor Furniture for Less
(50) $166.8 $117.9 41.5% 15 13 NA 100% NA
San Diego $172.4 total revenues
Fiscal years end Sept. 27. Formerly Super Stores of America. Licensee of The Bedroom Superstore. Owned and operated by Rick Haux Jr., operating 11 stores under the name Mor Furniture for Less and four stores under the name The Bedroom Superstore. Mor Furniture for Less stores: three in San Diego and one each in Fresno and Bakersfield, Calif.; Spokane, Wash.; Boise, Idaho; Albuquerque, N.M.; Tempe and Glendale, Ariz.; and Reno, Nev. The Bedroom Superstores: three in Seattle and one in Portland, Ore. Revenues other than sales, $5.6 million. In March 2003, opened a Mor Furniture for Less in the Phoenix area in Tempe, Ariz. In April, opened one in the Phoenix area in Glendale. Also in 2003, the retailer changed its corporate name to Mor Furniture for Less. The company plans, by the year 2006, to have all locations under the Mor Furniture for Less concept. In 2004, will open two new units in Phoenix.
42 ABC Carpet & Home $161.0 $166.5 -3.3% 6 6 NA NA NA
(39) New York $201.0 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 with a rug store located across the street; three ABC Carpet and Home Warehouse Outlets — Bronx, Brooklyn and Hackensack; an ABC full-line store in Delray Beach, Fla.; and an outlet center — Tanger Outlet Center — in Riverhead, N.Y., on Long Island. 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. In 2003, high-end upholstery producer Burton James opened a 3,000-square-foot gallery in ABC's flagship store. Also, French Heritage, which makes fine furniture and accessories based on French antiques, opened a 1,700-square-foot gallery at the flagship store.
43 Jennifer Convertibles $151.0 $164.0 -7.9% 216 199 NA 100% NA
(41) Woodbury, N.Y.
Fiscal years end August 31. Publicly held, leather and sofa-sleeper specialist with 197 Jennifer Convertibles, 17 Jennifer Leather and two Jennifer Living Rooms stores. At fiscal year-end, owned 139 and licensed 77 stores in Arizona, California, Connecticut, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Virginia and Washington, D.C. Units average 3,000 square feet. In 2003, opened 17 Jennifer Convertibles. The company's expansion strategy is focused on Jennifer Convertibles, featuring Jennifer Leather galleries.
44 Harlem Furniture $150.7 $127.2 18.5% 14 14 349 100% $477
(45) Lombard, Ill.
Family-owned company operating 14 midpriced stores in metro Chicago. Units average 25,000 square feet. Average warehouse stock turns, 14 times. In January 2004, opened a new flagship store at the site of the original flagship store. Planning to open an additional one to three new locations as well as renovating three others. Expansion of distribution center by 50% will be completed in May 2004.
45 Drexel Heritage $148.0 $120.0 23.3% 38 33 NA 100% NA
(49) High Point
Owned by Furniture Brands International. Network of independently owned, primarily freestanding stores offering mid- to high-end merchandise under three brands — Heritage, Drexel and dh. The dh brand is geared to Generation X consumers. Figures reflect dedicated store sales only. Figures do not include stores outside the United States. Units average 14,600 square feet. In 2003, opened stores in Virginia Beach, Va.; Orlando and Fort Myers, Fla.; Scottsdale, Ariz.; Orange, Conn.; and Westchester, N.Y. New stores in 2003 began featuring one of three new exteriors that Drexel Heritage has developed. The three exteriors are designed to match the tastes of specific regions — for the North, the South and the West. Plans to open approximately 15 new stores in 2004, including one in Mexico City. Future plans call for adding 15 to 20 stores annually for the next several years. By the end of 2006, the company expects to have 125 stores.
46 Haynes Furniture $148.0 $134.0 10.4% 11 9 916 NA NA
(44) Virginia Beach, Va. $171.0 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; two Dump clearance centers in the Philadelphia market; and two high-end discount stores operating as The North Carolina Co. in Richmond and Virginia Beach, Va. Carpet sales about $15 million. Credit income about $8 million. In store galleries: Natuzzi, three, averaging 4,000 square feet. Average stock turns, 6.5 times. Average gross margin, 43%. In 2003, added two Dump clearance centers in the Philadelphia market. Plans to open one more Dump clearance center in the Philadelphia market in 2004.
47 The Sleep Train $147.0 $89.0 65.2% 105 48 NA 100% NA
(67) Citrus Heights, Calif.
Promotional to high-end bedding specialist operating under three retail brands — Sleep Train, Mattress Discounters and Boxcar Bedding. The 2003 figures include a full year of results from the Mattress Discounters stores, which were purchased late December 2002. At year-end, operated 52 Sleep Train stores — 41 in the San Francisco Bay and Sacramento area and 11 in San Diego; 50 Mattress Discounters — 36 in the San Francisco Bay and Sacramento area and 14 in San Diego; and three Boxcar Bedding stores in the Sacramento, Calif., area. The Boxcar Bedding stores carry promotional product and serve as the retailer's clearance centers. In 2003, opened four stores in San Diego and three in Northern California. Also closed two stores in Northern California. Plans to open seven stores in 2004 — four in Northern California and three in San Diego.
48 The RoomStore/The RoomSource
(60) $142.0 NA NA 12 NA 347 100% $409
Phoenix
Owned by Alan and Phillip Levitz and Dan Selznick. Not affiliated with the Richmond, Va.-based The RoomStore. Promotional to midpriced room-package specialty retailer operating eight RoomStores in metro Phoenix and four RoomSource stores in California — two in Sacramento and one each in Modesto and Stockton. Units average 30,000 square feet. Average stock turns, 12 times. In 2003, closed the four Bassett Furniture Direct stores, converting one to The RoomStore. Will convert the others to Broyhill Home Collection stores in 2004.
49 El Dorado Furniture $126.7 $126.5 0.1% 9 7 510 100% $242
(46) Miami Gardens, Fla.
Owned by the Capo family. Full-service, midpriced to high-end South Florida chain operating seven stores in greater Miami and one store each in Pembroke Pines and Plantation. Units average 72,273 square feet. Average stock turns, 4.6 times. Early 2003, El Dorado opened a new store on the site of its first store. The new store, located in the Miami area in Calle Ocho, is more than double the size of the original store at 38,000 square feet. In November, El Dorado opened its largest store, at 140,000-square-feet, in Miami's Kendall suburb. The retailer also completed a 125,000-square-foot expansion at its distribution center. Later in 2004, the retailer plans to begin work on a 30,000-square-foot expansion of its Pembroke Pines store.
50 Rockaway Bedding $125.0 $120.0 4.2% 162 160 NA 100% NA
(48) Randolph, N.J.
Promotional to high-end bedding specialty chain with stores primarily in New York, New Jersey and Pennsylvania but also with eight in Delaware, and two each in Connecticut and Maryland. Units average 3,300 square feet. Has opened two stores this year in existing markets and plans to end 2004 with 175 stores.
51 Carls $123.2 $111.2 10.8% 18 16 627 100% $196
(51) Coconut Creek, Fla.
Full-service, midpriced to high-end South Florida chain operating 11 Carls furniture stores and seven Carls Patio shops at year-end. Furniture units average 50,000 square feet; patio shops average 11,000 square feet. In-store galleries: Bernhardt, ten, averaging 6,000 square feet; and Natuzzi, three, averaging 5,000 square feet. In March 2003, Carls opened an 80,000-square-foot furniture store and a 15,000-square-foot patio store in a former Levitz location in Miami. Opened a 15,000-square-foot patio store in Naples in March of 2004. In 2005, plans to add a 15,000-square-foot patio store in Stuart as well as an additional 15,000 square feet to the furniture store there.
52 Storehouse $117.2 $106.5 10.0% 61 60 426 100% $279
(53) Atlanta $123.0 total revenues
Fiscal years ended Nov. 30. Owned by The Rowe Companies, which also owns upholstery producer Rowe Furniture. Storehouse is a midpriced to upscale, design-oriented chain with 60-company-owned and one franchise store across the Southeast, Southwest and the Mid-Atlantic markets of Washington, Atlanta, Baltimore, Houston, Philadelphia and Tampa. Fabric protection and assembly and delivery, $5.9 million. Units average 7,100 square feet. Average stock turns, 3 times. Average gross margin, 48%. Storehouse has a full assortment of case goods and an extensive upholstery fabric selection. Last year, opened two stores in Atlanta and Richmond, Va., and closed one in Baltimore, Md. In 2004, plans to open four stores, including two in New Jersey and one each in Houston and Philadelphia. Will also close two stores in Tampa, Fla., and Fort Worth, Texas.
53 Baer's $112.7 $110.0 2.4% 13 14 NA 100% NA
(52) Pompano Beach, Fla. $113.7 total revenues
Family-owned, midpriced to high-end, full-service South Florida chain with 11 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 50,000 square feet. In-store galleries: Broyhill, Henredon, Lexington, Ralph Lauren, Lauren and Natuzzi. Average stock turns, 3 times. Closed a store in North Miami Beach last year. In 2004, Baer's plans to open a 60,000-square-foot unit in Orlando and an 85,000-square-foot unit in Sarasota.
54 Room & Board $112.0 $95.0 17.9% 11 11 215 100% $520
(65) Minneapolis
Midpriced, classic contemporary specialty stores with three units in Minneapolis/St. Paul, including an outlet store; three in the Chicago area; and one each in Denver and Santa Ana, Calif., operating as Room & Board. Also operates three stores under the name Retrospect in the Twin Cities, Chicago and Santa Ana. Retrospect is distinguished from Room & Board by its offering of more traditional styles. Average gross margin, 44%. In January 2004, relocated a Room & Board and Retrospect in Chicago to a new downtown location. Future plans include a store in New York City to open January 2005 and a store in San Francisco to open March 2005.
55 Jerome's $110.5 $101.0 9.4% 5 5 320 100% $345
(59) 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 and Wickline Bedding, four, averaging 2,500 square feet. Average stock turns, 8 times. In 2003, expanded the San Marcos warehouse facility. Plans to remodel and expand the El Cajon store and remodel the Scripps Ranch store in 2004.
56 Levin Furniture $110.4 $102.5 7.7% 11 11 536 100% $206
(56) Smithton, Pa. $114.4 total revenues
Full-service, midpriced chain with six stores in Pittsburgh and five in the Cleveland/Canton area. Fabric protection revenues, $3.95 million. Units average 52,357 square feet. Average stock turns, 3.2 times. Average gross margin, 45.6%. Currently building a new 74,600-square-foot showroom, replacing a 24,000-square-foot unit in Monroeville, Pa.
57 Mattress Discounters $110.3 $221.0 -50.1% 110 107 450 100% NA
(31) Upper Marlboro, Md. $113.2 total revenues
Promotional to high-end bedding specialist operating 68 stores in the Washington/Baltimore/Richmond area; 30 stores in the Boston/New England area; and 12 stores in Pittsburgh at year-end. Manufacturing sales to other retailers, about $2.9 million. Stores currently carry Sealy and Simmons brands. Units average 4,078 square feet. In March 2003, Mattress Discounters emerged from Chapter 11 bankruptcy protection. The retailer opened five stores in the Washington/ Baltimore/Richmond area and closed two — one in Pittsburgh and one in New England. Mattress Discounters celebrated its 25th anniversary in 2003.
58 Farmers Furniture $108.0 $105.0 2.9% 140 137 NA NA NA
(55) Dublin, Ga. $204.0 total revenues
Fiscal years end Jan. 31. Family-owned, full-service, promotional to midpriced Southeast chain with stores primarily in Georgia but also in Alabama, Florida, North Carolina and South Carolina. Non-furniture sales — including appliances, electronics, outdoor equipment and computer equipment — and revenues other than sales, about $96 million. Opened three stores in 2003.
59 Gallery Furniture $107.0 $125.0 -14.4% 1 1 90 90% $1,320
(47) Houston $122.0 total revenues
Promotional to midpriced store, known for relentless promoting and its high-energy, colorful president, Jim McIngvale. Sales from electronics and revenues other than sales, $15 million. Average stock turns, 22 times. Average gross margin, 50%.
60 Grand Home Furnishings
(58) $104.5 $101.5 3.0% 19 18 NA NA NA
Roanoke, Va. $112.0 total revenues
Privately owned, full-service, primarily midpriced chain operating stores throughout Virginia's Shenandoah Valley with two full-line stores in Roanoke plus an outlet; one full-line store each in Bristol, Charlottesville, Christiansburg, Covington, Culpeper, Harrisonburg, Lexington, Lynchburg, Norton, Staunton, Warrenton, Waynesboro, and Winchester; and an outlet store in Danville. Also has stores in Johnson City and Kingsport, Tenn. Appliances and electronics sales, $7.5 million. In-store galleries: Kincaid, nine, averaging 5,000 square feet; La-Z-Boy, seven, averaging 4,500 square feet; and Thomasville, one, 5,000 square feet. In 2003, opened an outlet in Danville, Va. In February 2004, completed the conversion of the Grand Interiors store in Roanoke to a full-line Grand Home Furnishings store and moved its downtown Bristol, Va., store to a suburban location.
61 Norwalk - The Furniture Idea
(54) $103.0 $105.5 -2.3% 65 78 368 100% $366
Norwalk, Ohio
Network of 48 franchised and 17 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 $9.9 million in 2003 and $7.45 million in 2002. Units average 4,058 square feet. Average stock turns, 12 to 15 times. Average gross margin, 50%. In 2003, opened one store in Bend, Ore., and closed fourteen. Plans to open five stores in 2004 in Philadelphia; Atlanta; Indianapolis; Washington, D.C.; and Wilmington, N.C. No store closings are planned.
62 Leath/Modernage $101.8 $99.1 2.8% 29 29 NA 100% NA
(61) Atlanta $104.4 total revenues
Full-service, midpriced retailer operating 22 Leath stores in the Midwest and seven Modernage stores in Florida. Delivery income, $2.6 million. Units average 26,000 square feet. In-store galleries: Natuzzi, six; La-Z-Boy, two; and Rowe, 11. In 2003, opened two Leath stores in LaSalle, Ill., and Greendale, Wis., and closed two Leath units in Indiana.
63 Kittle's $101.1 $102.2 -1.1% 17 17 666 100% $152
(57) Indianapolis
Full-service, promotional to high-end Indiana and Ohio chain with 10 stores in Indianapolis — two Kittle's, four Kittle's Rooms Express — including one Super-Size model, one Design Studio, one Ethan Allen, one Thomasville and one Kittle's Clearance and Factory Outlet — and one Kittle's store each in Bloomington, 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, two, ranging from 7,500 square feet to 12,000 square feet; Century, three, averaging 5,000 square feet; Henredon, four, ranging from 5,000 square feet to 8,000 square feet; and Ralph Lauren, three, averaging 2,000 square feet. Units range from 20,000 square feet to 130,000 square feet. Average stock turns, 2.8 times. Average gross margin, 45%. In 2003, relocated and doubled the size of one Rooms Express store to the Super-Size model and opened one Thomasville store in Indianapolis. Also closed a Kittle's store in Anderson, Ind. In 2004, intends to finalize plans for a new Super-Size Rooms Express store in Southwest Indianapolis, an additional Thomasville store in Columbus, Ohio as well as options for other stores.
64 Rose Furniture $99.4 $98.0 1.4% 3 3 NA 100% NA
(63) 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.
65 American Home $95.4 $93.0 2.6% 9 9 NA 87% NA
(66) Albuquerque, N.M. $107.2 total revenues
Fiscal years end Jan. 31. 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, $11.8 million. Early in 2003, closed a clearance outlet in Albuquerque and converted an American Warehouse Plus store on Albuquerque's west side to a clearance outlet. The closed outlet center was moved to the Farmington, N.M. store. During the summer, opened a 100,000-square-foot American Home store on Albuquerque's west side.
66 Lack's $92.5 $88.0 5.1% 36 36 NA NA NA
(68) Victoria, Texas
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. Also sells consumer electronics and major appliances, revenues not included. In 2003, relocated a store in San Antonio, Texas.
67 Dial-A-Mattress $92.0 $85.0 8.2% 42 45 123 100% $205
(70) Long Island City, N.Y.
Privately held bedding specialist and direct marketer with stores primarily in New York, but also in Connecticut, California, New Jersey and Maryland. Operates under the name 1-800-Mattress. Also has a dealer network that delivers product sold over the phone. Units average 2,949 square feet. Average stock turns, 14.6 times. Average gross margin, 50%. Approximately 35% of sales come from the retail stores, 62% from telemarketing and 3% from the Internet. Opened one store earlier this year. Is testing a gallery program with other retailers in major metro markets such as New York, Washington, Chicago, Boston, Miami, Philadelphia, Los Angeles and San Francisco.
68 Z Gallerie $89.7 $74.4 20.6% 53 47 455 70% $282
(76) Gardena, Calif. $143.5 total revenues
Midpriced lifestyle specialty chain. At year-end, operated seven stores in northern California, primarily in the San Francisco Bay area, including a furniture-only store; 13 in southern California, primarily in the Los Angeles area, but also in Costa Mesa, San Diego, San Jose and Santa Barbara; four in the Chicago area; four in Arizona in Tempe, Scottsdale and Tucson; five in Texas in the greater Dallas area and Houston; five in Florida in West Palm Beach, South Miami, Orlando, Tampa and Boca Raton; three in Ohio in Cincinnati, Cleveland and Columbus; two each in Denver; Atlanta; Las Vegas; and Missouri (Kansas City and St. Louis); and one each in Salt Lake City; Birmingham, Ala.; Raleigh, N.C.; and Detroit. Sales from kitchen items and other non-furniture categories, $53.8 million. Units average 8,500 square feet. Average stock turns, 4 times. In 2003, opened stores in Boca Raton and Tampa, Fla.; Las Vegas; Houston; Detroit; and Cleveland, Ohio. Plans to end 2004 with 58 units, including ones in Carlsbad, Calif., and Cleveland, Ohio.
69 Walter E. Smithe Furniture
(73) $88.5 $77.7 13.9% 12 12 146 100% $606
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, 4 times. Average gross margin, 32%. Future plans include two relocations in the market and opening Drexel Heritage showrooms.
70 Bernie & Phyl's Furniture $87.0 $76.7 13.4% 7 6 206 100% $498
(74) Norton, Mass.
Owned by Convertible Castle. Full-service, midpriced retailer serving the Boston market with stores in Weymouth, Everett (a clearance center), Saugus, Westboro, Cambridge, and Raynham, Mass., and Nashua, N.H. Larger units in Westboro, Nashua, Saugus and Raynham average 42,000 square feet; the other, smaller units, average 13,000 square feet. In-store galleries: Berkline, three, averaging 3,000 square feet. Average stock turns, 12.3 times. Average gross margin, 45%. In June 2003, the retailer converted its full-line store in Everett to Bernie & Phyl's Bedding and Clearance Center. Opened a new store in Raynham, north of Rhode Island, in November and added 47,000 square feet to its Nashua store late in 2003. Plans to open a 50,000-square-foot unit in 2004, and close the smaller Cambridge store.
71 Benchmark Home Furnishings $87.0 $98.0 -11.2% 1 1 400 NA NA
(62) Olathe, Kan.
Owned by the Davidow family. Midpriced to upscale retailer serving the cities of St. Louis and Springfield, Mo.; Tulsa and Oklahoma City, Okla.; Witchita and Kansas City, Kan.; Omaha, Neb.; and Des Moines, Iowa with its 400,000-square-foot complex and BeHOME.com Web site. Sales figures exclude sales from electronics and other non-merchandise revenues.
72 Arhaus Furniture $85.0 NA NA 25 NA NA 100% NA
(NR) Cleveland, Ohio
Owned by John Reed. Cleveland-based upper-midpriced to upscale retailer of primarily exclusive home furnishings from all over the world, with the retailer involved in the development of much of its furniture line. Stores are highly accessorized and are filled with architectural and artistic elements that set them apart. Thirteen main Arhaus stores in the Ohio markets of Cleveland, Canton, Akron, Cincinnati, Columbus, Dayton and Sylvania; two each in Pennsylvania, Kentucky, New York and Virginia; and one each in Naples, Fla.; Indianapolis; and St. Louis at year's end. Also operates one Arhaus Shelter store, opened in October 2003, that emphasizes more contemporary styles, Asian antiques and other one-of-a-kind finds in the Cleveland suburb of Beachwood. Units range from 6,000 to 19,000 square feet. In 2003, entered two new states with Arhaus stores in Naples, Fla., and Richmond and Fairfax, Va. Also opened a store in Lyndhurst, Ohio. In March 2004, opened in Ann Arbor, Mich., the first of three stores planned for the state.
73 Steinhafels $84.0 $80.5 4.3% 5 5 287 100% $293
(72) 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 115,000 square feet. Average stock turns, 5.2 times. During the first quarter of this year, Steinhafels moved into its new headquarters and distribution center in Pewaukee. The 450,000-square-foot complex will also include a 115,000-square-foot store, the retailer's largest. It will replace the Waukesha store in metro Milwaukee and is scheduled to open early summer 2004.
74 Schewel Furniture $83.0 $82.0 1.2% 52 51 900 90% $100
(71) Lynchburg, Va. $121.0 total revenues
Family-owned, promotional to midpriced, credit-oriented chain in Virginia, West Virginia and North Carolina. Sales from appliances, electronics, carpeting and other non-furniture merchandise, $19 million. Credit income and other non-merchandise revenues, $19 million. Units average 18,000 square feet. Average stock turns, 3 times. Average gross margin, 42%. In February 2003, opened a new store in Beckley, W. Va. Also relocated stores in Amherst, Emporia, Covington and Staunton, Va. In 2004, will relocate the Roanoke Rapids, N.C., store.
75 Homestead House $80.0 $98.0 -18.4% 9 13 NA 100% NA
(64) Broomfield, Colo.
Full-service, primarily upper-end chain. At year-end, operated three 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. The Fort Collins store operates under the name Touchstone Design Studio & Furniture. Sales from its Touchstone manufacturing operations are not included. In 2003, closed stores in West Los Angeles and Thousand Oaks, Calif., and clearance centers in Westminster, Colo., and Torrance, Calif. In May 2004, will close its Albuquerque, N.M., store.
76 Gabberts $79.9 $85.8 -6.9% 4 4 388 NA NA
(69) Minneapolis $90.7 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, $8.4 million. Other revenues, $2.5 million. Units average 96,929 square feet. In 2003, opened a new, larger outlet store in Dallas, replacing the old facility there.
77 Sit'n Sleep $79.4 $63.0 26.0% 13 11 150 100% $529
(88) Carson, Calif.
Owned by Sleep Well. Promotional to high-end Southern California bedding specialist with stores in Culver City, Montebello/City of Commerce, Glendale, Laguna Hills, Norco, Upland/Ontario, Santa Ana, Santa Clarita, Tarzana, Torrance, Puente Hills, Westminster and Oxnard. Units range from 12,000 square feet to 15,000 square feet. Average stock turns, 19.3 times. Average gross margin, 45%. Opened two stores in 2003, in Glendale and Norco.
78 Stickley, Audi & Co. $76.9 $75.0 2.5% 8 7 305 100% $295
(75) Manlius, N.Y. $77.7 total revenues
Owned by the Audi family, which owns high-end manufacturer L.&J.G. Stickley. Revenues from manufacturing operations not included. Operates eight high-end stores dedicated to Stickley merchandise and other high-end lines in Albany, Manhattan, Fayetteville, Rochester and White Plains, N.Y.; Enfield and Hartford, Conn.; and High Point. Units average 38,000 square feet. Other lines sold at the stores include Baker, Henredon, Hancock & Moore and Hickory Chair. During the third quarter 2003, Stickley, Audi & Co. opened a 53,000-square-foot showroom in Hartford, Conn. Acquired the assets of high-end leather producer Cibola and relaunched the line as Craftsman Leather by Stickley at this past April's market.
79 Marlo Furniture $76.7 $78.5 -2.3% 4 4 NA 100% NA
(77) Rockville, Md.
Full-service, promotional to midpriced chain in metro Washington, with stores in Forestville, Laurel and Rockville, Md., and Springfield, Va. 2002 sales figure revised. Units average 90,000 square feet.
80 Furniture Outlets USA $76.4 $69.6 9.8% 19 18 633 99% $123
(81) Sioux Falls, S.D. $80.6 total revenues
Privately held, full-service, promotional to midpriced chain, under the corporate name, Furniture Outlets USA. Operates stores in the Dakotas, Minnesota and Iowa mostly under the names Furniture Outlets USA, Unclaimed Freight and Ashley Furniture HomeStores. Carpeting sales, $2.7 million. Fabric protection revenues, $1.5 million. Units average 35,000 square feet. In-store galleries: Broyhill, five, averaging 7,500 square feet; Ashley, two, averaging 10,000 square feet; and Thomasville, one, 8,500 square feet. In February 2003, opened an Ashley Furniture HomeStore in Rochester, Minn. Plans for 2004, include opening an Ashley Furniture HomeStore and a Furniture Outlets store in the southwest Minneapolis suburb of Shakopee in July. Also coming in July is an Ashley store attached to a distribution center in Fridley, a northern Minneapolis suburb. Two more Ashley stores will open this year in Maplewood and Woodbury, Minn. Furniture Outlets also plans a new distribution center in the Twin Cities market. Although the retailer currently operates under various names, Ashley and Furniture Outlets are the two names under which all future growth is expected to come and the company's goal is to go with one of those two names at all locations.
81 Big Sandy Superstore $75.0 $61.0 23.0% 20 19 720 70% $149
(92) Franklin Furnace, Ohio $145.0 total revenues
Midpriced stores operating as Big Sandy Superstore in Chesapeake, Chillicothe and Portsmouth, Ohio; Ashland and Grayson, Ky.; and Charleston, Beckley, Kenova, Lewisburg, Parkersburg, Princeton, and Teay's Valley, W. Va. and as BrewBakers in Onaway, Mich. Also includes figures from King's Great Buys Plus, which operates seven stores in Indiana including one Sofas N' Cinemas. Sales from appliances and electronics, $70 million. Units average 38,000 square feet. In-store galleries: Broyhill, averaging 7,500 square feet; Berkline, averaging 2,500 square feet; and England, averaging 3,000 square feet. Average stock turns, 5 times. In 2003, opened an outlet in Kenova, W. Va. May open another outlet in 2004.
82 Darvin Furniture $75.0 $70.0 7.1% 2 2 120 100% $625
(80) Orland Park, Ill.
Family-owned, midpriced to upscale operation serving metro Chicago with a full-line store and a Thomasville Home Furnishings Store adjacent to its main showroom. In-store galleries: Action Lane, Bassett, Berkline, Berne, Lexington's The World of Bob Timberlake, Century, Pennsylvania House, Richardson Bros., Stanley, Broyhill, a Howard Miller grandfather clock gallery and Serta and Simmons bedding galleries.
83 Lack's Valley Stores $74.0 $65.5 13.0% 11 10 NA NA NA
(83) Pharr, Texas $95.7 total revenues
Full-service, medium to high-end retailer serving the lower Rio Grande Valley of Texas and Mexico. Operates two stores each in Harlingen and McAllen and one store each in Brownsville, Edinburgh, Laredo, Mission, Pharr, South Padre Island/Port Isabel, and Weslaco. Sales from consumer electronics and major appliances, $12.3 million. Revenues other than sales, $9.4 million. In-store galleries: Action, Bernhardt, Kincaid and Natuzzi. Average stock turns, 3 times. In January 2003, opened a 35,000-square-foot clearance center in Pharr, Texas.
84 Domain $72.8 $70.2 3.7% 30 26 185 90% $502
(79) Norwood, Mass.
Owned by Aga Foodservice Group. Full-service, midpriced to upscale, fashion-oriented chain with four stores in Boston, including a clearance center; seven each in New Jersey and New York; five each in Connecticut and the Baltimore/Washington area; and two in Pennsylvania. Domain currently offers AGA ranges in five of its stores — Fair Oaks, Va.; Princeton, N.J.; Huntington, N.Y.; North Wales, Pa.; and Natick, Mass. — revenues from the AGA products are not included. Units average 6,200 square feet. Average stock turns, 3.2 times. Average gross margin, 51%. In 2003, opened stores in Princeton, N.J.; Huntington, N.Y.; Montgomeryville, Pa.; and a 15,000-square-foot flagship showroom in Natick, Mass. The Natick store — Domain's 30th — is the retailer's largest store. Domain is looking to expand or relocate smaller stores to 10,000- to 15,000-square-foot locations and to open in new markets such as Annapolis, Md., and Delaware.
85 USA Baby $72.0 $63.7 13.0% 60 63 480 65% $181
(87) Lombard, Ill. $85.0 total revenues
Chain of 64 franchised stores known primarily as USA Baby and The Baby's Room in 27 states and Mexico. Operates two free-standing Childspace stores as well as Childspace departments within USA Baby's stores, offering big kids furniture for the two through college-age child. Figures do not include the four stores in Mexico with sales of $2 million in 2003 or the three stores in Mexico with sales of $1.5 million in 2002. Sells nonapparel merchandise for infants and toddlers. Strollers, toys, textiles and related juvenile merchandise sales, $13 million. Units average 7,500 square feet. Average stock turns, 3.25 times. Average gross margin, 40%. In 2003, opened five stores, including its first store in the state of Nevada, its second Childspace only store in Huntingdon, Pa., and one in Mexico. Also closed seven stores. Earlier this year, opened stores in Albuquerque, N.M. — a new state; Buffalo, N.Y.; and Jacksonville, Fla. The retailer plans to open a total of 11 stores in 2004, including its first stores in Hawaii, Missouri, Connecticut, and Washington.
86 C.S. Wo & Sons $70.0 $65.0 7.7% 15 12 230 100% $300
(84) Honolulu
Family-owned, promotional to high-end retailer operating 15 stores under seven names on three islands. Oahu includes one high-end C.S. Wo Gallery store, two full-line HomeWorld superstores, two SlumberWorld sleep shops, one promotional Furnitureland store, two Sleepland USA specialty sleep shops, two A2Z Home lifestyle galleries, and one La-Z-Boy Furniture Galleries store. In addition, there are three Furnitureland stores on Maui, Hilo and Kona and a C.S. Wo Gallery on Kona. 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 A2Z Home stores are 10,000 to 15,000 square feet. In 2003, opened a Furnitureland store and a C.S. Wo Gallery in Kona and a A2Z Home lifestyle store in Honolulu. A2Z Home is a new name for the format — formally called Z-Interiors, then Z-Home.
87 Wolf Furniture $68.9 $59.9 15.0% 9 9 377 98% $187
(94) Bellwood, Pa. $73.4 total revenues
Full-service, midpriced retailer with stores in Altoona, including a clearance center, Johnstown, Bellefonte/State College, York, Lancaster and Harrisburg, Pa.; and Frederick and Hagerstown, Md. Carpeting sales, about $1 million. Delivery charges and warranty and fabric protection revenues, about $3.5 million. Units average 38,000 square feet. In-store galleries: La-Z-Boy, six, averaging 6,000 square feet; Broyhill, one, 5,000 square feet; and Pennsylvania House, three, averaging 5,000 square feet. Average stock turns, 3.5 times. Average gross margin, 48%. In January 2004, opened a 62,000-square-foot store in Frederick, Md., replacing the smaller store there. The retailer is planning two more replacement stores this year — a new 67,000-square-foot store in Hagerstown, Md., to open this summer and a new 60,000-square-foot store in State College, Pa., to open late 2004 or early 2005. The Hagerstown store will be the retailer's largest unit. Also this fall, Wolf Furniture plans to expand its distribution center and corporate office. A 37,000-square-foot expansion of Wolf's Bellwood, Pa., distribution center is planned by winter 2005.
88 Gardner White $68.0 $65.0 4.6% 6 6 185 100% $367
(85) 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 25,000 to 40,000 square feet. In-store galleries: GuildCraft, six, averaging 3,000 square feet. Future plans include opening a new retail unit in metro Detroit.
89 Wood-Armfield/Utility Craft
(78) High Point $68.0 $73.4 -7.4% 4 5 280 100% $243
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; and Gallahan's in Fredericksburg, Va. Units average 70,000 square feet. In-store galleries: Thomasville, two, averaging 8,000 square feet; Lexington, two, averaging 8,000 square feet; Bernhardt, two, averaging 7,000 square feet; Stanley, two, averaging 7,000 square feet; Century, two, averaging 5,000 square feet; Hickory White, one, 5,000 square feet; Baker, one, 3,000 square feet; Henredon, one, 7,500 square feet; Harden, two, averaging 4,000 square feet; Broyhill, one, 7,500 square feet; Lane, one, 5,000 square feet and La-Z-Boy, one, 4,000 square feet. Early in January 2003, closed its W.A. Home Store in Cary, N.C., which included a Thomasville Home Furnishings Store.
90 Bay Furniture $65.6 $54.8 19.7% 6 6 176 100% $372
(98) Homewood, Ill.
Full-service, midpriced Chicagoland retailer with stores in Homewood, Aurora/Fox Valley, Hoffman Estates, Mokena and Lake Zurich, Ill., and Merrillville, Ind. Units average 29,000 square feet. In-store galleries: Berkline, six, averaging 4,000 square feet; Kincaid, four, averaging 4,000 square feet.
91 Louis Shanks of Texas $65.0 $65.0 0.0% 6 6 NA NA NA
(86) Austin, Texas $72.5 total revenues
Fiscal years end March 31. Texas chain of five midpriced to high-end stores: one in Austin, three in Houston, one in San Antonio and one Henredon Gallery store in Houston. Floor coverings, contract and other non-furniture sales, about $7.5 million.
92 Hank's Fine Furniture $64.2 $62.3 3.0% 22 23 420 100% $153
(89) Sherwood, Ark. $66.0 total revenues
Privately owned, promotional to midpriced chain with 19 Hank's Fine Furniture stores — 13 in Arkansas, one in Louisiana, three in Missouri, two in Texas — and three Home Place Furniture stores — two in Florida and one in Alabama. Fabric protection revenues, $1.8 million. The six largest stores average 26,500 square feet, Home Place Furniture stores average 30,000 square feet, and the others average 15,000 square feet. Average stock turns, 4.25 times. In January 2003, the company opened its third Home Place Furniture store in Mobile, Ala., with 35,000 square feet of selling space and an offsite distribution center. Hank's also remodeled one of the existing stores in Northeast Arkansas and added additional warehouse space to an existing distribution center located in Northwest Arkansas. Also closed two Hank's stores in Arkansas last year. In 2004, the company plans to open its fourth Home Place Furniture store in Destin, Fla., with 40,000 square feet of selling space. Also plans to open two larger Hank's Fine Furniture stores — Hot Springs and Fayetteville, Ark. - replacing smaller units within those markets.
93 McMahan's $62.3 $61.1 2.0% 21 22 NA NA NA
(91) Los Angeles
Full-service, credit-oriented stores in California, Oregon and Nevada. At year-end, operated 19 McMahan's Furniture stores and two La-Z-Boy Furniture Galleries. Also sells appliances and electronics; those revenues not included. In-store galleries: La-Z-Boy, one, 6,000 square feet and England, one, 4,000 square feet. In 2003, remodeled its stores in Salem and Roseburg, Ore., and built a warehouse in Lancaster, Calif. In November 2003, closed McMahan's Clearance Center. In 2004, will remodel stores in Reno, Nev.; Bend, Ore.; and in Oroville and Yuba City, Calif.
94 Sam Levitz Furniture $62.1 $54.6 13.7% 3 3 170 100% $368
(99) Tucson, Ariz. $62.6 total revenues
Family-owned, full-line, promotional to midpriced retailer in metro Tucson. Fabric protection revenues, about $500,000. Stores average 56,000 square feet. In-store galleries: Broyhill, one, 12,000 square feet. Average stock turns, 6 times. Average gross margin, 42%. In 2004, the retailer plans to remodel one store — adding 9,000 square feet — and including a 12,500-square-foot Broyhill gallery.
95 Kirschman's $61.4 $62.1 -1.1% 15 15 NA NA NA
(90) New Orleans $68.9 total revenues
Full-service, midpriced to high-end retailer operating three stores in New Orleans, a Kirschman's, a clearance center and an Ethan Allen; three stores in Baton Rouge, two Kirschman's and a Thomasville Home Furnishings Store; and one Kirschman's store each in Gretna, Houma, Metairie, Lafayette, Covington and Slidell, La.; and Gulfport, Miss. Also operates Ethan Allen stores in Pensacola, Fla., and Mobile, Ala. Sales from appliances, electronics and floor coverings, as well as credit income, $7.5 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, 3 times.
96 America Group $60.6 $56.7 6.9% 59 63 NA 100% NA
(96) Vancouver, Wash.
Primarily midpriced bedroom, bedding and futon specialty stores in the Pacific Northwest from Everett, Wash., south to Fresno, Calif., and east to Boise, Idaho and Reno, Nev. Includes 54 company-owned stores and five franchises. Operates 14 stores in Northern California and the Medford, Ore., area; 14 in the Portland, Ore. area; eight in the Salem, Ore. area; two in the Boise, Idaho area; four stores in the Reno, Nev. area; and 17 stores in Washington — seven in the Tacoma/Seattle area, five in the Vancouver area, four in the Spokane area, and one in Kennewick. Includes five youth furniture stores, nine futon, 16 mattress, seven flotation, 17 bedroom, two leather specialty stores and three import specialty stores. Operates under the names: America The Beautiful Dreamer, Bedrooms West, Mattress Land, Leather Express, and International Furniture Faire. Opened one store in Seaside, Calif., in 2003 and closed five. No current plans to open or close units in 2004.
97 Roomful Express Furniture
(NR) $60.5 $51.8 16.9% 12 12 430 100% $141
Pittsburgh $63.6 total revenues
Owned by R.H. Kuhn Co. Midpriced chain with 10 stores in metro Pittsburgh and one store each in Johnstown, Pa. and St. Clairsville, Ohio. Credit income and fabric protection revenue, $3.1 million. Units average 35,860 square feet. Average stock turns, 3.8 times. In March 2003, opened a 60,000-square-foot unit in the Pittsburgh market unveiling the retailer's new prototype — a bright, bold store that sells style and comfort at aggressive prices. The unit replaced an 18,000-square-foot unit. The new store will be the model for the chain's other units. Last fall, opened an 80,000-square-foot unit replacing a 42,000-square-foot unit east of Pittsburgh. Opened a 65,000-square-foot unit in a former Phar-Mor store in the South Hills section of Pittsburgh in May, replacing an older and smaller unit.
98 Walker Furniture $58.6 $52.3 12.1% 15 12 185 100% $317
(NR) Las Vegas $60.9 total revenues
Fiscal years end Jan. 31. Owned by principal stockholder Deanne Alterwitz and family. Full-service, promotional to high-end retailer operating a 9-acre complex in the northwest Las Vegas valley, which includes a 180,000-square-foot main store (140,000-square-feet open to the public), a 30,000-square-foot Walker's Tent & Clearance Outlet and Rooms by Walker, which offers ready-to-assemble furniture and promotional room packages, and a 15,000-square-foot office furniture store. Also operates 10 Serta-exclusive Best Mattress satellite bedding specialty shops and four Sealy-exclusive Mattress Discounters bedding shops at year-end. Walker owns a Custom Furniture Rental store, revenues not included. Best Mattress stores average 2,756 square feet; Mattress Discounters stores average 3,631 square feet. Fabric protection, delivery charges and insurance income, $2.2 million. In-store galleries: Broyhill, 6,309 square feet; GuildCraft, 3,920 square feet; Henredon, 8,000 square feet; Stanley, 2,900 square feet; Serta, 3,296 square feet; Kathy Ireland, 2,418 square feet; and Natuzzi, 2,852 square feet. Average stock turns, 3.2 times. Average gross margin, 42.5%. In 2003, opened three Sealy-exclusive Mattress Discounters. Has opened one Sealy Mattress Discounters store in 2004 and plans to open two more as well as two or three Serta Best Mattress stores.
99 Big Lots Furniture $58.0 $68.0 -14.7% 45 49 NA 100% NA
(82) Columbus, Ohio
Fiscal years ended Jan. 31 and Feb. 1. Owned and operated by publicly held Big Lots. Operated 844 Furniture Departments within full-line stores and 45 promotional freestanding stores at fiscal year-end. Sales estimate excludes furniture, bedding and accessories sales in the furniture departments of Big Lots main closeout stores. Combined furniture and bedding sales for the main stores and furniture stores, $504 million. Furniture stores average 11,000 square feet of selling space. Big Lots plans to grow its highly productive furniture business largely through furniture departments in the main stores, with 139 new furniture departments planned this year in new and existing stores.
100 Sleep Country USA $57.9 $51.4 12.6% 49 49 NA 100% NA
(NR) Kent, Wash.
Owned by Simmons Co. Not affiliated with Sleep Country Canada. Operates 31 specialty sleep shops in metropolitan Seattle and 18 in the greater Portland, Ore., area. Stores carry Simmons, Sealy, Spring Air, Stearns & Foster and Chattam & Wells. Units average 5,000 square feet. In February 2003, Simmons acquired Sleep Country from Simmons' former parent Fenway. Late in 2003, a private equity firm — Boston-based Thomas H. Lee Partners, together with Simmons Chairman Charlie Eitel and other management — acquired Simmons from Fenway Partners. Simmons also operated 59 stores as Mattress Gallery in the Los Angeles and San Diego market but sold that chain this year. It plans to sell Sleep Country as well.

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