Top Furniture Retailers of 2008

The Furniture industry is facing challenging times, but many hard working innovators are still growing by leaps and bounds. As released in an annual report entitled "The List" from Furniture Today, giant retailers Ashley Furniture, Ikea, and Rooms to Go top the list. Williams-Sonoma, parent company of West Elm and Pottery Barn, and Berkshire Hathaway are also major contenders. What may come as a large surprise is that regional furniture franchises are enjoying profits close to their national competitors.

Another Successful Year for Furniture Retailers

Regional furniture stores reported exceptional retail sales in 2008. Midwest based retailers like Value City Furniture and Art Van and Southern retailers Badcock and Havertys made the top 20 retailers in the country, though all posted a decrease in sales from 2006 except Value City parent corporation American Signature.

Decor giant Pier 1 Imports reported numbers worthy of the #8 spot, despite abysmal quarterly reports earlier this year. Ethan Allan claimed the #7 spot with their strategically placed design centers. Another important segment to watch is specialty bedding, as Select Comfort, Mattress Firm and Sleepy's all had respectable showings as well.

It's worth a moment of time for you to consider that a some of the power players in the furniture industry have been operating at staggering losses and are losing market-share to smaller business models with flexible inventory overheads and lower operating costs. Pier 1, who posted a staggering $30.2 million loss in the second quarter, is still a prominent player in this industry. The high-end seems to be the most resilient to the changes in economy, as Berkshire Hathaway and Williams-Sonoma are firmly planted in the top 5 furniture retailers with billion dollar revenues.

You might infer that those who could afford high end furniture two years ago can still afford it today. Another concept to consider is that consumers are looking for a more permanent solution to their home furniture needs. Consumers are understanding that they get what they pay for, and making smart shopping decisions with high end furniture and bedding. Retailers across the country are responding by tightening their manufacturer standards and finding new ways of offering their customers superior product.