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Badcock sees retail upturn in 2008

By Gary Evans -- Furniture Today, September 16, 2007

Orlando, Fla. — Florida-based retailer W.S. Badcock expects the housing market to begin turning around in 2008, and wants its Top 100 network of stores to be ready when it happens, President Don Marks told Badcock retailers at their annual meeting here.

Marks and Michael Ray, the chain's chief financial officer, said research by Badcock's analytical department indicates that there's an 80% correlation between home sales and home furnishings purchases, based on figures over the past 30 years. There's a time lag of about three months between the closing on the home and when the new owner starts to buy furnishings, Marks said.

"This market is going to come back and we have to be ready," Marks told his audience of over 1,000 people, who filled a ballroom at the luxurious Gaylord Palms Resort and Convention Center here. Nothing could be worse, he added, than having consumers ready to buy and not having the inventory to sell them.

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Badcock sees retail upturn in 2008

Sep 17, 2007

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