Daily News
From Home Furnishing Business
Smith Leonard: Furniture Orders Down 61% in April
July 1,
2020 by Laurie Northington in Business Strategy, Industry 
New orders in April 2020 were down 61% from April 2019 and 21% year-to-date, according to a report by the Smith Leonard accounting and consulting firm.
As expected, the firm’s monthly survey of residential furniture manufacturers and distributors showed new orders decreased for every one of the participants.
The survey also showed shipments in April 2020 dropped 50% from April 2019 and March 2020. The April results pulled year-to-date shipments down to a 15% decline.
Since shipments were not off as much as orders, it meant that there was some shipping from backlogs, so backlogs in April dropped 8% from March. Backlogs were down 12% from April 2019.
Receivables were down 21% from April 2019 and inventories were down 4% during the same time period.