HNN 125 Furniture and Bedding Retailers 2023 (1-25)

Company

US Furniture & Bedding Sales 2023

US Furniture & Bedding Sales 2022

% Change

Number of stores 2023/ 2022

1

Ashley Furniture

$5,759.0

$5,907.1

-2.5%

830/828

Furniture manufacturer and retailer with more than 1,125 company-owned and dealer-owned locations under the names Ashley and Ashley HomeStore in 67 countries. Sales and store counts are for the locations in the U.S. Also sells online at ashleyfurniture.com. Ashley is refreshing its stores and has changed its retail brand from Ashley HomeStore to Ashley, a process started last summer. In March 2024, Ashley acquired another Top 125 retailer, Resident Home – the owner of Nectar, DreamCloud, Awara and Siena brand mattresses. Accessories account for approximately 3.2% of total sales. Total 2023 Ashley store revenues, $6,014.4 million.

2

Wayfair

$5,700.0

$5,850.0

-2.6%

5/3

Publicly held, online retailer operating a family of brands – Wayfair, Joss & Main, All Modern, Birch Lane and Perigold. Earlier this year, the company opened its first ever Birch Lane stores – three in Florida, in Boca Raton, Tampa and Sarasota. In May 2024, Wayfair opened its first large-format store, in Wilmette, Illinois, north of Chicago. The 150,000-square-foot store includes furniture, home decor, housewares and home improvement as well as an onsite restaurant, The Porch. U.S. net revenue increased by 0.2% in 2023. Had 22.4 million active customers at year end.  

3

Amazon

$5,300.0

$5,200.0

1.9%

NS/NS

Publicly held, online retailer offering hundreds of millions of products sold by Amazon and by third parties. Net product sales up 5.3% for the year.

4

Mattress Firm

$3,794.2

$4,019.2

-5.6%

2,331/2,342

Mattress specialty retailer offering leading brands such as Beautyrest, Nectar, Sealy, Serta, Simmons, Sleepy’s, Stearns & Foster, Tempur-Pedic, Tuft & Needle, tulo, and Purple through its showrooms and online. In May 2023, officials announced the retailer would be acquired by Tempur Sealy for approximately $4 billion. The acquisition is expected to close in mid to late 2024. Mattress Firm is expected to operate as a separate business unit of Tempur Sealy. Total sales for the fiscal year ending, Oct. 3, 2023 were $4,134.1 million.

5

Rooms To Go

$3,782.0

$4,000.0

-5.5%

153/152

Rooms to Go operates showrooms in 10 states along the coastline from Virginia to Texas, as well as in Tennessee. Last August, RTG entered the Memphis market with the acquisition of The Great American Home Store. A former Top 125, the retailer operated four stores in Memphis, Southhaven and Cordova.

6

Walmart

$3,370.0

$3,525.0

-4.4%

4,615/4,717

Publicly held, fiscal year ended January 31, 2024. Operates supercenters, discount stores and neighborhood markets in all 50 states, District of Columbia and Puerto Rico. Also sells online. Furniture and bedding merchandise is marketed under brand names including Casper, Serta and Sealy; licensed brands including Better Homes & Gardens and Pioneer Woman; and private brands including Allswell and Mainstays. U.S. comp sales up 4.0% for the year, led by grocery and health and wellness. Experienced softness in home. 

7

Ikea

$3,340.0

$3,136.6

6.5%

54/52

Swedish retailer with 375 stores in 30 countries including 54 in the U.S. Among those 54 are three new format stores first introduced in 2022, called ‘Plan & order point” stores where customers can plan and speak with design specialists before placing orders. In August 2023, opened an Ikea in San Francisco and its third smaller format “plan & order point” store in Arlington, Virginia. Ikea is opening another new format store this year called “Plan & order points with Pick-up”, in Austin, Atlanta and Los Angeles in addition to other locations. Bedroom furniture was a top product category last year as was storage and children’s items. Part of the Ingka Group, total 2023 revenues were $6.32 billion.

8

Costco

$3,000.0

$3,010.0

-0.3%

602/587

Publicly held, fiscal year ended September 3, 2023. Operates its membership-only warehouse clubs in 46 states, District of Columbia and Puerto Rico. Also sells online. Furniture and bedding merchandise is marketed under brand names including Abbyson Living, Bestar, Thomasville, Gilman Creek Furniture, Sealy, Novaform, Purple, Casper and Tempur-Pedic, and private brands including Kirkland Signature. Total sales up 6.7% for fiscal year, driven by food. U.S. comp sales up 4.3%.

9

Williams-Sonoma

$2,975.0

$3,400.0

-12.5%

518/530

Publicly held, fiscal year ended January 28, 2024. Operates e-commerce websites, direct mail catalogs and retail stores for nine brands, including Pottery Barn, Pottery Barn Kids, Pottery Barn Teen, West Elm, Williams Sonoma Home and Rejuvenation. Showrooms are located across 40 states, the District of Columbia and Puerto Rico. The company manufactures its own upholstered furniture and lighting at facilities in North Carolina, Oregon and Mississippi. Total sales decreased 10.6% last year. Sales at West Elm were down 18.6% and sales at Pottery Barn decreased by 9.8%. 

10

Raymour & Flanigan

$2,040.0

$2,150.0

-5.1%

145/144

Raymour & Flanigan operates throughout the Northeast in Connecticut, New Jersey, Rhode Island, Delaware, New York, Massachusetts and Pennsylvania. Sells furniture, mattresses and home décor through its retail stores, clearance centers, outlets and online.

11

RH

$2,039.9

$2,492.5

-18.2%

104/104

Publicly held, fiscal year ending February 3, 2024. Restoration Hardware is a luxury lifestyle brand offering its products across retail locations, websites and Sourcebooks. At fiscal year end, operated 70 RH Galleries and 42 RH outlet stores throughout the United States, Canada, the United Kingdom and Germany. Sales and store count for the U.S., only. Expanded globally for the first time with the opening of RH England in June 2023, followed by two openings in Germany, in November. A third RH opened in Germany in Brussels in March 2024. The company has a number of additional international locations planned including Madrid, Paris, London, Milan and Sydney. After relocating one RH in the United States last year in Indianapolis, five new showrooms are planned for 2024 including RH Cleveland which opened in March. Palo Alto and Montecito, California, Raleigh, North Carolina, and Newport Beach, California, will open later this year. Total 2023 revenues, $3,029.1 million.

12

Bob’s Discount Furniture

$1,999.6

$2,093.1

-4.5%

171/164

Bob’s Discount Furniture operates across 24 states with showrooms averaging 33,530 square feet. In 2023, opened eight stores (seven new stores, one relocation) and revamped its website. Bob’s also launched a new advertising campaign “Oh My Bob” in addition to hiring a new best-in-class media agency. In 2024, will open multiple stores with a focus on expansion in existing markets and a few new DMAs, for example Rochester/Buffalo. Total 2023 revenues, $2.03 billion.

13

Berkshire Hathaway furniture division

$1,998.0

$2,207.0

-9.5%

33/32

Berkshire Hathaway’s home furnishings group consists of Nebraska Furniture Mart of Omaha, Nebraska, with five showrooms including Homemakers Furniture in Urbandale, Iowa; Jordan’s Furniture of East Taunton, Massachusetts., with eight showrooms; R.C. Willey of Salt Lake City, Utah with 10 showrooms; and Star Furniture of Houston with 10 showrooms. R.C. Willey and NFM also sell appliances and electronics. In December 2023, Jordan’s Furniture opened its second Connecticut store at the Westfarms Mall in a former Lord & Taylor. Total 2023 revenues for the home furnishings division, approximately $3.49 billion.

14

Target

$1,920.0

$2,100.0

-8.6%

1,956/1,948

Publicly held, fiscal year ended February 3, 2024. Operates stores in all 50 states and the District of Columbia, as well as an e-commerce site. Offers furniture and mattresses from a number of national brands as well as its own exclusive brands, including Threshold and Room Essentials. Total sales down 1.7% and home sales down 8.7% for the year. Opened 21 new stores and enhanced 170. 

15

Sleep Number

$1,700.0

$1,905.0

-10.8%

672/670

Publicly held designer, manufacturer, marketer, retailer and servicer of Sleep Number beds through its stores, online, phone and chat. Sleep Number stores are located across all 50 states and account for about 87% of total sales. In addition to its beds, Sleep Number offers FlexFit adjustable bases and Sleep Number pillows, sheets and other bedding products. Total 2023 revenues, $1.89 billion.

16

Sam’s Club

$1,500.0

$1,575.0

-4.8%

599/600

Publicly held, parent company Walmart, fiscal year ended January 31, 2024. Operates its membership-only warehouse clubs in 44 states and Puerto Rico. Also sells online. Furniture and bedding merchandise is marketed under brand names including Tempur-Pedic, Serta, Sealy, Nectar, Ghostbed, Beautyrest and Abbyson Living; licensed brands, including details by Becki Owens and private brands, including Member’s Mark. U.S. comp sales excluding fuel grew by 3.1% for the year, led by food and consumables. Growth in membership up by 10%. 

17

Big Lots

$1,260.0

$1,355.0

-7.0%

1,392/1,431

Publicly held, fiscal year ended February 3, 2024. Operates stores throughout 48 states as well as an e-commerce site. Big Lots offers furniture from brand name manufacturers mainly in mattresses and upholstery, and from its own brand, Broyhill. Sales from Broyhill were significantly down in 2023, in part, to the unexpected closure of one of its suppliers late in 2022 impacting the availability of Broyhill merchandise in the first half of the year. Total sales down 13.6%. Estimate includes furniture sales and patio sales from the seasonal category. 

18

La-Z-Boy Furniture

$1,205.0

$1,420.0

-15.1%

328/313

Publicly held, manufacturer and retailer operating La-Z-Boy Furniture Galleries, both company-owned and dealer-owned. The company also operates Joybird, an e-commerce retailer and manufacturer of upholstered furniture which operates 12 small-format stores in key urban markets.

19

Crate & Barrel

$1,170.0

$1,150.0

-1.7%

120/121

Home furnishings specialty retailer with lifestyle brands Crate & Barrel, Crate & Kids, CB2 and Hudson Grace. The company is owned by the Germany-based Otto Group and operates stores throughout the U.S. and Canada, nine independent franchise locations outside North America as well as e-commerce sites for each brand. Sales and store counts are for the U.S., only and includes 15 Outlet locations and one Furniture Clearance Center. In November 2023, unveiled its new flagship location in Manhattan’s Flatiron District in a 23,000 square-foot, two-level store in a circa-1868 building. Plans to open three Crate & Barrel stores this year, in Florida, Texas and Arizona, reflecting some of the learnings from the new flagship location. Going forward, the new flagship store is a format to be used for remodeling stores and new store openings.

20

American Signature

$1,095.0

$1,155.0

-5.2%

124/125

Retailer and manufacturer of the American Signature brand. Operates on the East Coast, Midwest and Southeastern United States with American Signature Furniture stores, Value City Furniture stores and one Designer Looks Furniture location in Miami, Florida.

21

Arhaus

$1,050.0

$1,000.0

5.0%

92/81

Publicly held premium home furnishings retailer that designs much of its own product and sources products from manufacturers and artisans around the world. Operates in 29 states with 80 Traditional Showrooms, eight Design Studios and four Outlets. Also distributes a fall and spring catalog and sells online. Online sales accounted for almost 19% of total revenues in 2023, a growth of 17% compared to 2022. In 2024, plans to add approximately nine to 11 new showrooms, including its third showroom in Connecticut, located in Greenwich, that opened in April, along with several renovation, relocation and expansion projects. Total 2023 revenues, $1,287.7 million.

22

Dufresne Spencer Group

$1,010.0

$1,077.0

-6.2%

127/130

Largest Ashley licensee in the world, currently operating 166 stores in 12 states and five Canadian provinces. In March 2024, opened its 127th Ashley store in the U.S., in Sterling Heights, Michigan. The company also operates a new brand of store, Worth & Co., which it opened last April in Houston. The 40,000-square-foot showroom offers upper-end furniture brands such as Lillian August, Precedent, Hickory White, Vanguard and Bernhardt. Store also has a 2,000-square-foot lounge and cafe area with live music; and a 3,500-square-foot area with accessories, apparel and jewelry.

23

American Furniture Warehouse

$950.0

$1,004.8

-5.5%

16/16

AFW operates 10 showrooms in Colorado, three showrooms in the Houston area and three in the Phoenix area. In late May 2024, the retailer opened a store in the Tucson area in Marana with 122,000 square feet of showroom space and 115,000 square feet of warehouse space.

24

Conn’s

$790.0

$979.0

-19.3%

552/550

Publicly held, fiscal year ending January 31, 2024. In December 2023, Conn’s acquired Mulberry, Florida-based Badcock Home Furniture & more. Together, the two brands operate 244 company-owned and 308 dealer owned locations in 15 states across the southeast United States, as well as e-commerce sites. Both retailers are highly complementary to one another, selling furniture and mattresses as well as appliances, electronics, home office equipment, accessories and seasonal items and offering affordable payment plans and financing options to a population of consumers who typically have limited credit alternatives. Both retailers will continue to operate under their own brand. Total 2023 pro forma revenues, $1.87 billion.

25

Home Depot

$770.0

$800.0

-3.8%

2,015/2,007

Publicly held, fiscal year ended January 28, 2024. Home improvement retailer operating throughout the U.S., including Puerto Rico and the territories of the U.S. Virgin Islands and Guam. Sells furniture and bedding from its own Home Decorators Collection, as well as a number of brand names, including Sauder, Beautyrest, Tempur-Pedic, Noble House, Sealy and Walker Edison, to name several. Total sales down 3.0% for the year. Comp sales decreased by 3.2%.