Furniture store sales gain 6.1% in June at $1.2 billion
OTTAWA – Brick-and-mortar furniture, home furnishings and electronics/appliance stores showed improving sales in June, both over the prior month and the same month last year, according to the latest figures from Statistics Canada.
The federal bean counter recently pegged preliminary and actual sales by brick-and-mortar furniture stores at $1.19 billion for the month of June 2021, up 19.7% from the $994.6 million for May 2021. It’s also 6.1% higher than the $1.12 billion sold in June 2020.
Statistics Canada’s Monthly Retail Survey does not include sales from the pure e-commerce furniture players such as Article, Goodmorning.com or Wayfair. But it does include online sales revenue for location-based merchants such as Leon’s Furniture, The Brick, Sleep Country and others.
For the first six months of the year, furniture store sales totaled $5.94 billion, up 30.8% from the $4.54 billion rung-up for the comparable period last year.
It should be noted this gave the publicly held Leon’s Furniture Limited – this country’s largest furniture, mattress and appliance retailer – a market share of 23.7% for the first half of 2021. This is down slightly from the 24.4% share it held during the first six months of last year. (see related story: LFL sees revenue surge.)
Ed Strapagiel, the Toronto-based retail analyst, noted June’s sales gave furniture stores a strong finish to the second quarter of the year, which saw a year-over-year advance of 48.5%. For the trailing 12 months ending June 2021, furniture store sales were up 19.8% at $13.0 billion.
Meanwhile, sales by brick-and-mortar home furnishings stores – which sell everything from floor covering to lamps and lighting, decorative accessories and accent furniture – had preliminary and actual sales of $670.3 million, a 32.9% gain from the $504.2 million rung-up in May and up 29.0% from $519.8 million in June 2020.
June capped off a remarkably strong second quarter for these retailers as sales leaped 69.2% on a year-over-year basis. For the trailing 12 months, sales were up 21.4% at $7.5 billion.
For the first six months of the year, these merchants had total sales of $3.44 billion, 42.7% greater than the $2.41 billion for the comparable period.
Electronics/appliance store sales were pegged at a preliminary and actual $1.16 billion for June, 6.5% higher than the $1.11 billion in May and 3.6% higher than the $1.12 billion sold in June 2020.
The second quarter was also reasonably strong for these brick-and-mortar merchants, climbing 15.6% on a year-over-year basis. At $15.8 billion, sales for the trailing 12 months ending June 2021 were up strongly at 16.2%.
For the first half of the year, electronics/appliance store sales totaled $6.74 billion, a 19.2% gain over the $5.65 billion sold during the January to June period last year.