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From Home Furnishing Business

Furniture Row Speeds Store Building

By Home Furnishings Business in on March 2007 Denver-based Furniture Row, which operates more than 330 storefronts, announced Wednesday that it is doubling the pace of store growth this year. It plans to add as many as 20 Furniture Row shopping centers -- each of which holds up two four storefronts.

Calling Furniture Row one of the fastest growing furniture retailers in the country, the announcement said the company has opened eight to 10 Furniture Row Shopping Centers a year over the past four years. The centers house several storefront€™s including Furniture Row€™s Sofa Mart, Oak Express, Bedroom Expressions and Denver Mattress Company nameplates. The announcement called the plan for 20 shopping centers €œunprecedented.€

The company, which has adopted a policy against speaking with trade media, did not provide additional details, such as whether the new shopping centers will take Furniture Row beyond the 31 states it now operates in.

The company held a high-profile groundbreaking event Tuesday in Denver for a 93,500-square-foot, four-store shopping center that will open this winter. €œWe are especially excited to start construction of this third, new Furniture Row Shopping Center in the Denver Metro area,€ said Tom Faulkner, president of the Furniture Row Centers. €œThis (store complex) will become the new flagship store for our company.€

Furniture Row is one of the only sponsors in stock car racing€™s top division, Nextel Cup, to own its own race team. On Tuesday, Kenny Wallace, driver of Furniture Row Racing€™s No. 78 Chevrolet, drove a 130,000-pound excavator to demolish a former Oak Express store that will be replaced with the company€™s new flagship shopping center.

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