Top 25's sales surge 12.4% in '97

Article Abstract:

The top 25 US furniture retailers have posted a combined sales growth of 12.4% in 1997 at the same time the furniture and bedding category posted revenue of $13.6 billion from $12.1 billion in 1996. Heilig-Meyers retained its No. 1 position, with its furniture and bedding sales nearly hitting the $1.7 billion mark in 1997. Slight changes were seen in the makeup of the top 25 this year with the inclusion of Federated Department Stores and May Department Stores in the department store segment, and the Berkshire Hathaway furniture unit in the furniture store category. Missing in this year's rankings are Rhodes, Drexel Heritage and Wickes.

Comment:

Top 25 US furniture retailers post combined sales growth of 12.4% in 1997 as furniture & bedding revenue rose $13.6 million

Sales, profits & dividends, Furniture & Furnishings Stores, Furniture and Home Furnishings Stores, Article

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Citicorp to get HomeLife stake

Article Abstract:

Sears, Roebuck and Co. has entered into an agreement to sell its HomeLife furniture stores to a company in which Citicorp Venture Capital will be a major shareholder. Under the the terms of the deal, Sears will obtain $100 million in cash and $10 million note for the 126 stores of HomeLife. The agreement, which is expected to be completed by the end of 1998, will also see Sears retaining a 19% equity stake in HomeLife.

Asset sales & divestitures, Furniture Stores, HomeLife

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