NAHFA to Produce Retail Performance Report

March 9, 2016  by in Furniture Retailing, Industry   

The report features detailed profiles developed from questionnaires sent to all home furnishings retail members across the country. The report’s information is based on member’s income statements and operational data.

For the first time in eight years, the retail performance report was conducted in 2015. The report is a comprehensive study that businesses can use to measure their business against peers in the industry. Some of the Key Performance Indicators measured in 2015 indicated sales were up and expenses were down.  

“One of the biggest benefits of participating in the HFA Retail Performance Report is actually seeing how you are performing to other home furnishings retailers in the industry,” said Kaprice Crawford, HFA membership director. “These Key Performance Indicator percentages will; help you in your future budgeting, let you know you are doing as well as everyone else, or uncover areas in your operation that need a little help.”

The McMahons are long time industry consultants and performance group directors. They are certified accountants and provide financial and operational improvement advice to home furnishings retailers.  

“We have found through our performance groups and consulting clients that those retailers who watch their key performance indicators and compare themselves against their peers are the most successful,” said David McMahon. “They’re in touch with their business.”

The study is open to all home furnishings retailers. Using web survey technology, data is compiled to determine industry averages and help home furnishings retailers understand how they measure up against their peers and competition. The standard report is free to HFA members who provide data to the report. Personalized benchmarking or customized feedback is also available to participating retailers.

Registration to participate in the report is online.