Furniture store sales hit $1B mark again in September
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%.