U.S. furniture key sources post 6% growth

HIGH POINT — Consumer spending on furniture and bedding was up 2.8% in 2019, and four of the companies on Furniture Today's Key Sources for the U.S. Furniture Market performed above that threshold.

The list grew revenues by 6%, reaching $12.1 billion in 2019, and two companies saw double-digit percentage gain in U.S. sales. RHF Investments had the largest percentage gain year-over-year, a tremendous growth of 25.6%, going from an estimated $195 million in 2018 to $245 million in 2019.

The second largest percentage increase in 2019 came from Ashley Furniture Industries, with a 13% increase to $6,436 billion. Ashley also had the largest increase in sales gain dollars, by far, with wholesale sales of $6.43 billion, an increase of $740.9 million from 2018. The next largest was La-Z-boy, which had a year-over-year increase of $62.7 million.

There was an increase in the number of companies that did not record increases in 2019. Seven out of the 12 companies listed did not record increases in 2019. The largest drop was by Hooker Furniture, down 10.6% to $610.8 million. The second largest decline was from Flexsteel Industries, which had a 9.3% decrease to $443.6 million.

About the data

Furniture Today's listing of the Key Sources for the U.S. Furniture Market ranks companies according to 2019 furniture shipments to the United States. Sources must sell into the U.S. market, regardless of whether they have manufacturing, assembling operations or corporate offices in the U.S.

Non-furniture and non-manufacturing revenues, such as investment income and retail revenues are excluded for purposes of the ranking. Contract furniture revenues are included in the figures because many companies do not report them separately from residential revenues.

A total revenue figure is included in the notes for those companies that have revenues outside these categories and for those that sell outside the United States.

All figures are Furniture Today market research estimates. All figures are for the 12 months ended Dec. 31, 2019 and 2018, unless otherwise indicated.

This listing is by no means comprehensive and does not represent the entire industry. More than those furniture sources listed are vital companies within the industry. In addition to listing publicly owned furniture source companies, Furniture Today contacts privately owned companies to verify sales figures. Privately owned companies that did not respond are not listed.

*Percentage (sales commission): She is paid a base salary of $1500 a month plus a 1% commission...