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From Home Furnishing Business

Fast Fact: Gains in Employee Size Highest Among Larger Furniture Stores 

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.  

Although small stores (under 10 employees) make up the greatest share of total furniture stores in the U.S. – roughly 44% in 2016, the numbers have diminished from 49.7% in 2007. The largest furniture stores with the highest number of employees (500 +) grew their share of furniture stores from 18.1%  to 27.4% in nine years – a jump of 9.3 percentage points.

The largest furniture stores (500+ employees) were the only employee range to gain a greater percentage from 2007 to 2016  – increasing by 9.5.

While home furnishings stores with 500+ employees did increase as a percent of total stores by 1.9%, stores with under 10 employees remained just under 60% of total home furnishings stores. Home furnishings stores with the most employees were also the only employee range to gain in size, growing by 4.2 percentage points in nine years.

For a closer look at the data, click here.

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