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From Home Furnishing Business

Fast Fact: More Furniture Retail Stores Closing vs. Opening over Previous Decade 

In what’s considered by many as the ‘Retail Apocalypse,’ retail store closings in 2019 are on pace to exceed closings in 2018, according to the most recent data from the U.S. Census Bureau’s Statistics of U.S. Business.  

The disparity between furniture store openings and closings was the highest from 2007 to 2012. The ratio of furniture store closings as a percent of total stores averaged 11% in the five years during and immediately following the recession. From 2012 to 2016, the net change in stores has stayed relatively flat – never showing a positive net change for furniture store openings.

The gap between store openings and closings is even wider for home furnishings stores – closing an average of 11.6% of stores per year from 2007 to 2012 and only opening a yearly average of 6.5%.

For an in-depth look at the data, click here.  

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