From Home Furnishing Business
Weekends Only Furniture and Mattress CEO Tom Phillips Retires
St. Louis-based Weekends Only Furniture and Mattress has announced that CEO Tom Phillips is retiring and moving into his new role as executive chairman after 23 years at the helm. Lane Hamm has been promoted to CEO.
During his decades at the company, Phillips grew a single retail space into a seven-store, top 100, $70 million multi-market chain with a growing e-commerce presence.
“I’m proud that, through the efforts and talents of so many team members, we made a difference. We made it possible for people in our communities to buy quality home furnishing products more affordably,” said Phillips.
Affordability has been woven in the Weekends Only fabric since day one. A location of his former store, Phillips Furniture Co, was struggling. A consultant convinced Phillips to take a risk and open doors only on weekends to offer customers the lowest price.
“This was a relatively new idea in the industry. The concept quickly was very disruptive, and within five years we had opened five stores in the metro area,” Phillips recounts. Limited quantities and constant new arrivals made Weekends Only the number one shopped furniture brand in St. Louis.
While Phillips looks forward to relaxing at his summer lake house in Wisconsin and spending more time with his wife and six grandchildren, his leadership will continue. He has every intention of serving as an advisor to the company while mentoring people, inside and outside the organization.
“Oh, there’s no question I will miss the people the most,” said Phillips. “I’ve been extremely blessed to have worked with some of the most talented people in retail…I will miss being in a position of influence in their lives, where a kind word of care and concern, a note of encouragement, or an expression of thanks and praise made them know they were important.”
Lane Hamm, who now holds the title of president and CEO, is one of those talented people in retail Phillips has mentored.
“Tom has taught me to focus on the individual and understand the ‘whole’ person. The better I can understand an individual’s needs and motivations, the better served I am to be an effective leader for them,” says Hamm.
Hamm is tasked with not only leading people, but also leading a robust company in an industry that is constantly challenged to maximize value for customers. “Lane has the skill set we need, and he has demonstrated he can lead through change and make the hard decisions required to take this company to the next level, especially during this tough time of Covid-19,” says Phillips. "No one could have predicted this virus, but under his leadership the company has been in front of doing what’s right, right now, for our customers and employees.”
“Despite the pause that all retailers have experienced over the last few months, we remain committed to growing the model through our online and store sales channels. We have a great foundation in place due to Tom’s leadership and a management team poised to continue pushing us forward,” says Hamm.