Ashley unseats Wal-Mart as No. 1 retailer
Ikea, Costco and Macy's also gain in Top 25 ranking
By Carole Sloan -- Furniture Today, August 25, 2008
NEW YORK — Ashley Furniture HomeStores has unseated Wal-Mart, the world's largest retailer, as the No. 1 retailer of furniture and bedding in the United States.
It has been just five years since the Ashley Furniture HomeStores name first appeared on the Furniture/Today Top 25 ranking in 17th place with 121 stores producing $594 million in furniture and bedding revenues. Since that time, the company's furniture and bedding sales have skyrocketed 300% to $2.38 billion in 2007.
In last year's Retail Giants ranking, Wal-Mart held the No. 1 position by a scant $128 million lead for furniture and bedding sales in 2006. For the 2008 ranking of 2007 sales, Ashley came out on top with a $165 million advantage. And while the chain was aggressive in adding stores with 57 new units last year, it did not come close to the 2006 addition of 77 new stores.
Ashley's sales increased in 2007 by 21.7%, while Wal-Mart had 2007 sales of furniture and bedding of $2.21 billion, a gain of 6.3%.
Among the Top 5, Rooms To Go retained its No. 3 slot with sales of $1.65 billion, a slight drop from the prior year of 1.1%. Target retained its fourth-place position with sales of $1.49 billion, a 5.1% increase.
New to the Top 5 ranking is Ikea, which jumped up from No. 7 last year with sales of $1.37 billion, an increase of 14.6%.
Overall, the Top 25 had 2007 furniture and bedding sales of $25.94 billion, an increase of 3% over 2006. The total furniture universe for 2007 was $84.96 billion, up 2.1%. The Top 25 garnered 30.5% of the total, up slightly from 30.2% in 2006.
Within the Top 25, there were 15 companies with sales increases for 2007; 10 had sales declines.
The Top 5 had sales of $9.1 billion, up 9.4% compared with 2006. This group's share of the Top 25 increased to 35.1% from 33%. The Top 10 had sales of $14.94 billion, up 6.5% over 2006. Its share of the total Top 25 went to 57.6% from 55.7%.
Only Staples in the bottom half of the Top 10 retained its position at No. 6 with sales of $1.26 billion, up 2.4%. The Berkshire Hathaway Group dropped two notches to No. 7 with sales of $1.25 billion, on a slight decline of 0.3%. Costco moved up two places to No. 8 from No. 10 with a sales gain of 7.1% to $1.13 billion.
Sam's Club dropped down a slot to No. 9 with sales of $1.11 billion, a 2.1% increase, and Macy's jumped five positions to round out the 10th slot with sales of $1.1 billion, a 1.1% gain.
Looking at channels of distribution, traditional furniture stores continued to lead the rest with 24% of sales among the players in the Top 25, the same percentage as in 2006. For the total furniture and bedding market, traditional furniture stores also were No. 1 with sales of $6.06 billion, up a scant 0.8% among the eight channels defined.
In second place for distribution were discount department stores in the Top 25 as well as the total universe with 17% of the Top 25, both in 2007 and 2006. Sales for the group in 2007 were $4.39 billion, up 5.1%.
Manufacturer-branded stores ranked third in the distribution chain with 16% of the Top 25 business, both in 2007 and 2006. The group held the same ranking for total furniture and bedding sales with $4.22 billion in sales, up 5.7%.
Lifestyle furniture stores were fourth in both segments with 13% of the Top 25 sales, and a 5.9% increase in total sales to $3.41 billion. Warehouse membership clubs were fifth with 9% of the Top 25, the only channel to show an increase in share among the Top 25. Total universe sales for the segment were up 4.6% to $2.23 billion.
Office supply stores were the only channel to register a market share slide among the Top 25 with a drop from 9% in 2006 to 8% in 2007. The channel's sales in the total were down 5.4% to $2.16 billion.
Department stores held their own in the Top 25 with 7% of the Top 25's sales, and the group had a scant 0.6% increase in the total to $1.87 billion.
Bedding specialty stores were the smallest group, holding a 6% share for both 2007 and 2006 among the Top 25 while registering a 6.4% increase in universe sales to $1.6 billion.
The only newcomers to the Top 25 are both bedding specialists. Mattress Firm enters at No. 25 with sales of $479 million, a 16.5% increase over 2006, and Sleepy's enters at No. 22, with sales of $495 million, a 13.3% gain over 2006.
There were five retailers with double-digit increases in the Top 25: Ashley, Ikea, Raymour & Flanigan, Sleepy's and Mattress Firm. On the double-digit sales decline side were Office Depot and Pier 1 Imports.
Looking at the store expansion programs of the Top 25, Sleepy's led the way with 191 new stores, followed by Target with 103, Mattress Firm with 99, Staples with 98 and Wal-Mart with 87.
| Top 25 U.S. furniture and bedding retailers | |||||||
|---|---|---|---|---|---|---|---|
| Rank | Company, home base, notes | Estimated furniture and bedding sales in $ millions | Percent change 2006 to 2007 | Total number of units | |||
| 2007 | 2006 | 2007 | 2006 | 2007 | 2006 | ||
| NR = Not ranked R = Revised All sales information, except for that supplied by publicly held companies that break out furniture and bedding sales, are Furniture/Today market research estimates. All data are for calendar 2007 and 2006 unless otherwise noted. Source: Furniture/Today market research |
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| 1 | 2 | Ashley Furniture HomeStores, Arcadia, Wis. | $2,375.0 | $1,952.0 | 21.7% | 353 | 296 |
| Manufacturers dedicated store network, mainly dealer-owned, operating promotional to midpriced stores in the United States and in Japan, Mexico and Canada. Sales and store counts for U.S. only. Stores offer furniture for every room, as well as area rugs, decorative accessories, textiles and lamps. Ashley, along with Raymour & Flanigan, was part of the bankruptcy bid for Levitz Furniture's assets and is evaluating the 46 Levitz stores in the West for its HomeStores dedicated network. Is rolling out a new line and another dedicated store program called Apt. 3-G, with merchandise tailored to consumers who are 25 to 35 years old with the first stores scheduled to open in 2009. Furniture and bedding accounted for about 95% of total 2007 sales. Total 2007 sales were $2.5 billion, up 19% from $2.1 billion in 2006. | |||||||
| 2 | 1 | Wal-Mart, Bentonville, Ark. | $2,210.0 | $2,080.0 | 6.3% | 3,418 | 3,331 |
| Fiscal year ended Jan 31. Sales and store counts are for U.S. stores only, including discount and supercenter stores, and exclude Sam's Club and Neighborhood Market. Also sells online. Opened seven new discount stores and closed two last year and opened 191 supercenters, including 109 discount conversions to supercenters. Launched its private-label Canopy line of ready-to-assemble furniture, bedding, rugs, lighting, tabletop and table linens, this year. Canopy is available in select stores and online. Comparable store sales increased 1.6% in 2007. Total 2007 sales were $239.5 billion, up 5.8% from $226.3 billion in 2006. | |||||||
| 3 | 3 | Rooms To Go, Seffner, Fla. | $1,653.0 | $1,672.0 | -1.1% | 114 | 116 |
| Privately owned, midpriced chain operating Rooms To Go, Rooms To Go Kids & Teens and clearance centers in Florida, Georgia, the Carolinas, Louisiana, Mississippi, Tennessee, Texas and Alabama and one in Puerto Rico. In 2007, opened three showrooms and exited its bedding store format, selling all five Rooms To Go Beds to Mattress Firm. Plans to open seven to eight stores in 2008, including expanding into the new market of Houston, where one unit opened earlier this year. The showroom is the first of four planned for the Houston metro area with the others scheduled to open by the end of the year. Is building a distribution center in the market with the first phase to be ready by mid-2009. Two other distribution center projects are underway in Pearl River, La., and in the Tampa Bay area in Lakeland, Fla. Furniture and bedding accounted for about 95% of total 2007 sales. Total 2007 sales were $1.74 billion, down 1.1% from $1.76 billion in 2006. | |||||||
| 4 | 4 | Target, Minneapolis | $1,492.0 | $1,420.0 | 5.1% | 1,591 | 1,488 |
| Fiscal year ended Feb. 2. Opened 85 Target Stores and closed 15 in 2007. Also opened 33 SuperTargets in 2007. Also sells online. Launched the Sami Hayek furniture line in June featuring contemporary furniture, bedding, decorative accessories and stationery aimed at college students. In January, launched an exclusive line from contemporary home furnishings resource DwellStudio. Comparable store sales increased 3.0% in 2007. Home furnishings and decor accounted for 19% of 2007 and 2006 total sales. Total 2007 sales were $61.5 billion, up 6.2% from $57.9 billion in 2006. | |||||||
| 5 | 7 | Ikea, Conshohocken, Pa. | $1,370.0 | $1,195.0 | 14.6% | 31 | 28 |
| Fiscal year ended Aug. 31. Sweden-based specialist with a large ready-to-assemble furniture business currently operating 35 stores in the U.S., and close to 300 stores worldwide. Sales and store counts are for U.S. only. Also sells online and through its catalog. The 250,000- to 350,000-square-foot stores offer furniture for every room in addition to textiles, lighting, decorative accessories, storage, full kitchens, cookware and tabletop. In June, opened its 35th U.S. store in Brooklyn, N.Y. Next store openings are planned for spring 2009 in Charlotte, N.C., and summer 2009 in Tampa, Fla. Also plans to open in Somerville, Mass., fall 2010. Furniture and bedding accounted for about 47% of total 2007 sales. Total fiscal year sales were $2.9 billion, up 16% from $2.5 billion for the previous fiscal year. | |||||||
| 6 | 6 | Staples, Framingham, Mass. | $1,260.0 | $1,230.0 | 2.4% | 1,440 | 1,342 |
| Fiscal year ended Feb. 2. Sales and store counts are for U.S. only. Also sells online and through its direct mail business Quill Corp. Stores are in 47 states and the District of Columbia. Opened 98 net new U.S. stores last year. Debuted Trump Office, an exclusive licensed line of office chairs, in July 2007. Office furniture accounted for 7.2% of 2007 total sales, down from 7.5% in 2006. Comparable store sales in North America decreased 3% last year. Total 2007 sales were $19.4 billion, up 6.7% from $18.2 billion in 2006. | |||||||
| 7 | 5 | Berkshire Hathaway furniture division, Omaha, Neb. | $1,251.0 | $1,255.0 | -0.3% | 32 | 32 |
| Owns Nebraska Furniture Mart of Omaha, Neb., including Homemakers Furniture in Iowa; R.C. Willey of Salt Lake City; Star Furniture of Houston; and Jordan's Furniture of Avon, Mass. NFM will remodel its recliner and flooring departments in 2008 and Homemakers has a major expansion project due to be completed in the fall of 2009. R.C. Willey, Star and Jordan's have no plans for expansion in 2008. Furniture and bedding accounted for about 58% of total 2007 sales. Total sales in 2007 were $2.15 billion, up 3.9% from $2.07 billion in 2006. | |||||||
| 8 | 10 | Costco, Issaquah, Wash. | $1,125.0 | $1,050.0 | 7.1% | 391 | 371 |
| Fiscal year ended Sept. 2. Sales and store counts are for the trailing 12 months ended Feb. 17 and include only the stores in the U.S. and Puerto Rico, including its two Costco Home stores in Kirkland, Wash., and Tempe, Ariz. Also sells online. Opened 20 stores during the trailing 12 months. Plans to open 16 to 18 stores, including four or five relocations, during fiscal 2008. Softlines, including furniture and bedding, accounted for 11% of fiscal 2007 sales, down from 12% in fiscal 2006. Total 2007 trailing 12-month sales were $66.52 billion, up 8.8% from $61.16 billion a year earlier. | |||||||
| 9 | 8 | Sam's Club, Bentonville, Ark. | $1,108.0 | $1,085.0 | 2.1% | 591 | 579 |
| Fiscal year ended Jan. 31. Division of publicly held Wal-Mart. Sales and store counts are for Sam's Club division only. Also sells online. Celebrated its 25th anniversary in April. Opened 12 stores last year and plans to open 25 more in 2008. Has continued its small business focus this year and has supplemented it with a treasure hunt aspect to appeal to private consumers. Hard goods, including furniture and bedding, accounted for 18% of 2007 sales, down from 19% in 2006. Carries Serta bedding. Comparable stores sales last year increased 4.9%. Total 2007 sales were $44.36 billion, up 6.7% from $41.58 billion in 2006. | |||||||
| 10 | 15 | Macy's, Inc., New York | $1,095.0 | $1,083.0R | 1.1% | 853 | 858 |
| Publicly held, fiscal year ended Feb. 2. Sales and store counts are for 813 Macy's stores and 40 Bloomingdale's stores. Also includes sales from macy's.com, bloomingdales.com and Bloomingdale's By Mail. Operates 50 Macy's furniture galleries nationwide. Macy's is celebrating its 150th birthday this year. Launched the exclusive Martha Stewart Collection of home furnishings in August 2007, the largest single brand launch in company history. Total home sales were $3.95 billion in 2007, down 2.4% from $4.04 billion in 2006. Comparable store sales decreased 1.3% in 2007. Total sales were $26.31 billion, down 2.4% from $26.97 billion in 2006. | |||||||
| 11 | 11 | American Signature, Columbus, Ohio | $1,085.0 | $1,027.0 | 5.6% | 129 | 126 |
| Fiscal year ended July 28. Owned by Schottenstein Stores Corp. Operates 96 promotional to midpriced Value City Furniture stores and 33 midpriced to high-end American Signature Furniture Stores in 19 Eastern states. American Signature units typically sell 10 collections for the living room, dining room and bedroom, in traditional and casual styles. The American Signature furniture is also offered through in-store galleries in the Value City stores. Converted the Roomstoday stores, a new concept the retailer opened in June 2006, into American Signature and Value City stores. Furniture and bedding accounted for about 96% of total 2007 sales. Total sales in 2007 were $1.13 billion, up 6.1% from $1.065 billion in 2006. | |||||||
| 12 | 14 | Williams-Sonoma, San Francisco | $1,045.0 | $955.0 | 9.4% | 585 | 579 |
| Fiscal year ended Feb. 3. Specialty home furnishings retailer with six distinct brands — Williams-Sonoma, Pottery Barn, Pottery Barn Kids, PBteen, West Elm and Williams-Sonoma Home — selling through 600 stores, seven mail-order catalogs and six e-commerce Web sites. Sales and store counts for U.S. only. The company in-sourced its West Coast furniture hub, improving the furniture delivery experience and reducing return rates. Also expanded its upholstered furniture operations. Will continue to work on improving operational efficiencies, particularly in the area of furniture returns, replacements and damages. In 2008, expects to add 29 net new stores and expand or remodel an additional 20 stores. Furniture and bedding accounted for about 30% of total 2007 sales. Total 2007 revenues were $3.94 billion, up 5.8% from $3.73 billion in 2006. | |||||||
| 13 | 12 | Ethan Allen, Danbury, Conn. | $955.0 | $1,060.0R | -9.9% | 260 | 273 |
| Fiscal year ended June 30. Sales and store counts are for the calendar year and for U.S. only. Oldest manufacturer's dedicated store network of company-owned and dealer-owned design centers offering a full range of furniture and accessories displayed in seven branded lifestyle settings such as Country House, Estate, Glamour, Global, Loft, Metro and Villa. Design centers range in size from 6,000 square feet to 35,000 square feet with an average size of 16,000 square feet. Continues to focus on providing decorating solutions through new and relocated design centers. Has consolidated the operations of a number of retail design centers to other locations serving the same market areas. Opened a three-level, 30,000-square-foot flagship design center in Manhattan in June, at the perimeter of New York's interior design showroom community. Furniture and bedding accounted for about 82% of total 2007 revenues. Total 2007 revenues for the calendar year were $1.17 billion, down 6.7% from $1.25 billion in 2006. | |||||||
| 14 | 9 | Office Depot, Delray Beach, Fla. | $902.0 | $1,056.0 | -14.6% | 1,193 | 1,140 |
| Fiscal year ended Dec. 29. Sales and store counts are for U.S. stores only. Also sells through catalogs and online. Opened 71 stores last year, closed seven and relocated three. Plans to open 75 stores this year. Opened its first green, LEED-certified store in Austin, Texas, this July. The product category of “furniture and other” accounted for 10.8% of total sales in 2007, down from 13.1% in 2006. Overall comparable store sales decreased 5% last year. Total 2007 sales were $15.5 billion, up 3.4% from $15 billion in 2006. | |||||||
| 15 | 13 | La-Z-Boy Furniture Galleries, Monroe, Mich. | $888.0 | $980.0 | -9.4% | 305 | 306 |
| Manufacturer's dedicated store network of dealer-owned and company-owned units throughout the United States and Canada. Sales and store counts for the U.S. only. At year's end, approximately 60% of the stores were in the New Generation format, which has an average of 15,515 square feet compared to an average of 13,295 square feet for the former format stores and offers an expanded selection of home accents and additional accent furniture from Hammary. Plans to end 2008 with 304 U.S. stores. Furniture and bedding accounted for about 96% of total 2007 sales. Total 2007 sales were $924.3 million, down 9.5% from $1.021 billion in 2006. | |||||||
| 16 | 18 | Raymour & Flanigan, Liverpool, N.Y. | $864.0 | $772.0 | 11.9% | 73 | 70 |
| Midpriced Northeastern chain with stores in New York, Massachusetts, Pennsylvania, New Jersey, Connecticut, Delaware and Rhode Island, including three clearance centers. In 2007, opened four new stores, closed a clearance center and replaced a 35,000-square-foot showroom with a 60,000-square-foot showroom. Has assumed 12 former Levitz Furniture leases, all of which will reopen this year — 10 in New York in Elmhurst, Harlem, Garden City, Farmingdale, Valley Stream, Staten Island, Marine Park, Manhattan, Bronx and Queens and two in New Jersey in Jersey City and Bridgewater. Will also open three additional stores this year, including one recently opened in Warwick, R.I., a new state. Other openings are in Phillipsburg, N.J., and Patchogue, N.Y. Furniture and bedding accounted for about 98% of total 2007 sales. Total sales in 2007 were $881.8 million, up 13% from $780.6 million in 2006. | |||||||
| 17 | 17 | JCPenney, Plano, Texas | $772.0 | $773.0 | -0.1% | 1,067 | 1,033 |
| Fiscal year ended Feb 2. Includes sales from 163 furniture departments in its stores, catalogs and online. Opened 50 stores in 2007 and closed 16. Plans to open 36 stores in 2008 and renovate 20. Launched the Linden Street home furnishings line, including furniture, window coverings and bedding, in June. Launched Dorm Life, a home line geared toward design-savvy young adults, in July. Comparable store sales were flat in 2007, after six consecutive years of increases. Internet sales increased 15% in 2007, to $1.5 billion. Total 2007 sales were $19.86 billion, down 0.2% from $19.9 billion in 2006. | |||||||
| 18 | 16 | Havertys, Atlanta | $717.0 | $792.0R | -9.5% | 123 | 120 |
| Publicly held, midpriced to upper-midpriced chain in 17 states in the South and Midwest. Majority of the merchandise carried is the Havertys brand, Havertys Collections, with the exception of accessories and bedding, supplemented by brands such as Sealy, Serta and Tempur-Pedic. In 2007, opened six stores and closed three. Opened in Orlando, Fla., in February of this year. Plans to open a total of four stores and close four in 2008, including relocations in Murfreesboro, Tenn., and Mobile, Ala. Began selling on the Web in March 2008. Furniture and bedding accounted for about 91% of total 2007 sales. Total 2007 sales were $784.6 million, down 8.7% from $859.1 million in 2006. | |||||||
| 19 | 20 | Big Lots, Columbus, Ohio | $687.0 | $675.0 | 1.8% | 1,353 | 1,375 |
| Fiscal year ended Feb. 2. Opened seven stores during 2007 and closed 29. Comparable store sales increased 2% last year. Sales per square foot were $158 in both 2007 and 2006. The furniture category accounted for 14.8% of 2007 total sales, up from 14.4% in 2006. Launched the Jennifer Farrell line of furniture and home accents this year. Other brand names sold through the closeout retailer have included Broyhill, Klaussner, Signature Design by Ashley, Ameriwood, Sauder and Stiffel. Carries Serta brand bedding. Total 2007 sales were $4.66 billion, down 1.8% from $4.74 billion in 2006. | |||||||
| 20 | 19 | Select Comfort, Minneapolis | $624.0 | $654.0R | -4.6% | 478 | 442 |
| Publicly held, vertically integrated maker of the Sleep Number bed, a line of adjustable-firmness mattresses featuring air-chamber technology. Also offers a line of accessory bedding products. Sells mattresses and accessories through four distribution channels — retail, direct marketing, e-commerce and wholesale. Sales from the wholesale business through home furnishings and bedding retailers and QVC are not included. In 2008, will slow the growth of new store openings, investing in store remodels. Plans to open 23 stores, remodel about 20 and close about 25. Will focus its retail partner program on fewer regional mattress retailers. Earlier this year, introduced the new Sleep Number 6000 bed, its first new model to the core line of beds in more than four years. Furniture and bedding accounted for about 90% of total 2007 sales. Total sales (excluding the wholesale channel) in 2007 were $695.2 million, down 2.2% from $710.8 million in 2006. | |||||||
| 21 | 21 | Pier 1 Imports, Fort Worth, Texas | $496.0 | $587.0 | -15.5% | 1,041 | 1,119 |
| Fiscal year ended March 1. Specialty retailer offering decorative home furnishings, gifts and related items through 1,155 Pier 1 stores in the United States, Canada and Mexico at fiscal year's end. Sales and store counts for U.S. and Puerto Rico only. In 2007, opened four stores and closed 82, including all Pier 1 Kids and clearance centers. Also exited its e-commerce and catalog businesses. In 2008, plans to open up to three stores and close about 25, mostly through lease terminations. In June, offered to acquire Cost Plus in a stock swap but later withdrew the offer after it was rejected by the Cost Plus board. Furniture and bedding accounted for about 36.5% of total 2007 sales. Total 2007 sales in the U.S. were $1.36 billion, down 8.9% from $1.49 billion in 2006. | |||||||
| 22 | NR | Sleepy's, Bethpage, N.Y. | $495.0 | $437.0 | 13.3% | 616 | 425 |
| Privately owned bedding specialty chain in Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont and Virginia. Includes sales from its toll-free telemarketing division. Most showrooms carry about 16 brands, including Kingsdown, Miralux, Sealy, Serta, Simmons, Stearns & Foster and Tempur-Pedic. Also offers a large selection of bedding accessories. Bought nearly all of Rockaway Bedding's assets, in conjunction with Hudson Capital Partners, including 134 store leases and its warehouse, in July 2007. Partnered with Serta last year to offer the Vera Wang by Serta Sweet Slumber Collection. Furniture and bedding accounted for about 96% of total 2007 sales. Total sales in 2007 were $515 million, up 13.2% from $455 million in 2006. | |||||||
| 23 | 25 | Crate & Barrel, Northbrook, Ill. | $495.0 | $480.0 | 3.1% | 160 | 153 |
| Fiscal year ended Feb. 3. Subsidiary of Germany-based Otto Versand. Sells midpriced to high-end furniture, primarily through its 62 metro-market furniture stores, catalogs and online. Also sells furniture in its three CB2 units. In 2007, opened seven Crate & Barrel stores as well as its third CB2 unit in New York's SOHO district. Opened a Crate & Barrel in Edina, Minn., in March of this year and a fourth CB2 unit in San Francisco in July. Other planned openings include Crate & Barrels in Connecticut this August and in Roseville and Canoga Park, Calif., Towson, Md., Skokie, Ill., and Cincinnati this fall. Will open its first Crate & Barrel store in Canada in September. Crate & Barrel's president, Barbara Turf, succeeded co-founder and CEO Gordon Segal as the new chief executive, May 1. Furniture and bedding accounted for about 38% of total 2007 sales. Total 2007 sales were $1.32 billion, up 10.5% from $1.19 billion in 2006. | |||||||
| 24 | 22 | Badcock Home Furniture & more, Mulberry, Fla. | $493.5 | $498.5 | -1.0% | 322 | 328 |
| Southeastern chain of promotional to midpriced, credit-oriented stores, operating primarily as Badcock Home Furniture & more. The retailer continues to convert the older Badcock Home Furnishings Centers to the new prototype with the conversion more than 80% complete. Stores, both company- and dealer-owned, carry carpeting, electronics, and appliances in addition to furniture and accessories. Also, operates four rent-to-own Home Now stores in Florida in Clearwater, Cocoa, Largo, and Tampa. Furniture and bedding accounted for about 85% of total 2007 sales. Total sales in 2007 were $578.6 million, basically flat from $578.4 million in 2006. | |||||||
| 25 | NR | Mattress Firm, Houston | $479.0 | $411.0 | 16.5% | 457 | 358 |
| Fiscal year ended Jan. 31. Owned by J.W. Childs, a Boston-based private equity firm, and senior management. Operates two formats, a 4,000-square-foot model and a 7,000-square-foot SuperCenter that includes a mattress store and a clearance center. Both formats carry a full line of mattresses, including Sealy, Select Comfort, Simmons and Tempur-Pedic, as well as a private-label line. Also offers accessories. Added almost 100 net stores in 2007, entering a number of new markets, including Las Vegas, Orlando, Fla., and southwest and southeast Florida. Net gain was a combination of new stores and acquisitions including Sweet Dreams in Indianapolis, American Mattress in Houston, Mattress Man in Greensboro, N.C., Mattress Pro in Texas and Nevada and Bedtime in Las Vegas. Recently opened its 500th store and 43rd store for the year. Currently operates in 38 markets in 21 states. Furniture and bedding accounted for about 93% of total 2007 sales. Total sales in 2007 were $514 million, up 16.6% from $441 million in 2006. | |||||||
