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Furniture store sales hit $1B mark again in September

 4 December 2017     Michael J. Knell 

OTTAWA – Furniture stores rang up their fourth consecutive month of sales over $1 billion in September, setting what is probably a new high in this post-recession period, although they were down slightly from August, according to the latest figures from Statistics Canada.

For the month, furniture store sales were just over $1.04 billion, up slightly from the $1.03 billion rung-up in August and a 7.0% gain from the $977.1 million sold in September 2016. For the third quarter of 2017, furniture store sales set a new record high of $3.08 billion.

For the first nine months of the year, sales were $8.49 billion – up 6% from the $8.01 billion for the same period of 2016. For the trailing 12 months ending September 30, furniture store sales were pegged at $11.5 billion, up 6% over the comparable period.

It should be noted this gives Leon’s Furniture Limited – this country’s largest full-line furniture retailer – an overall market share of 23.8% for the first nine months of 2017, based on its total system sales of $1.91 billion.

The only retailer coming close to Leon’s in terms of market share is IKEA Canada, whose market share is roughly 19%.

Meanwhile, home furnishings stores – which sell everything from floor covering to lamps and lighting, decorative accessories and wall art – saw its September sales (actual, not seasonally adjusted) pegged at a preliminary $599.6 million, up marginally from August. They were up 0.7% from the $595.5 million rung-up in September 2016.

For the third quarter, sales totalled $1.75 billion, down 2.1% from last year’s $1.79 billion.

For the first nine months, sales were $5.0 billion, up 1.8% from $4.91 billion for the comparable period of 2016. For the trailing 12 months ending September 30, home furnishing stores sales were estimated at $7.0 billion, a gain of 2.1%.

Electronics and appliance stores also appeared to be having a growth spurt through the third quarter and the opening nine months. Sales in September itself were a preliminary $1.47 billion, which while down slightly from August, was up 7.3% from $1.37 billion in September 2016.

For the third quarter, sales totalled $4.17 billion, up 8.2% from the $3.86 billion for the same period last year. For the year-to-date, these merchants saw sales of $11.6 billion – a gain of 11.3% from the $10.4 billion a year ago.

For the trailing 12 months, sales were $16.6 billion, advancing about 8.8%.


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This HGO article was written by:
Michael J. Knell
Michael J. Knell

Michael is the publisher and editor of Home Goods Online. A seasoned business journalist, he has researched and written about the furniture, mattress and major appliance industries in both Canada and the United States for the past three decades.


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Home Goods Online.ca and its accompanying newsletter - HGO This Week - covers the furniture, bedding, appliances, consumer electronics, accessories, lamps and lighting and floor coverings product sectors of the big ticket home goods market in Canada. HGO is also a forum for the dissemination of market research and hard-hitting articles on best practices for Canadian retailers.

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