New order for specialty retailers
GDA Staff -- Gifts & Dec, July 16, 2001
The names of the top five specialty retailers in the home textiles arena remained the same for 2000 as the previous year, though the order has shifted.
HomePlace of America — appearing on the list for the last time — and Strouds switched spots for 2000, with HomePlace placing third and Strouds fifth.
The other three specialty retailers — Bed Bath & Beyond, Linens 'N Things and Burlington Coat Factory's Luxury Linens — all continued with strong double-digit sales growth as they did the previous year.
Not surprisingly, Bed Bath & Beyond retained the top spot, increasing its home textiles sales 29 percent to $1.318 billion, from $1.022 billion the previous year (Note: 1999's number has been revised). The Union, NJ-based retailer also continues its aggressive expansion plan, adding 70 stores for a store total of 311, a 29 percent unit increase from the prior year.
Linens 'N Things still trails Bed Bath with $913 million in home textiles sales in 2000, up 18 percent from 1999. The Clifton, NJ-based retailer added 53 stores for a store total of 283.
And though HomePlace of America jumped to third place in the specialty store list and 13th on the Top 50 list, this will be the last year it will appear, with its May announcement that it was closing its door. The former Myrtle Beach, SC-based retailer, which had been struggling in the last few years, grew 1.3 percent in home textiles sales for 2000, hitting a total of $304 million, up from $300 million in 1999 (a revised number). It had a total of 122 stores in 2000.
Luxury Linens, Burlington, NJ, continued its strong sales growth in the number-four position, increasing 21.8 percent for a sales total of $258 million. Its store locations grew by 16 locations for a total of 228 stores.
Coming in fifth, City of Industry, CA-based Strouds also had a difficult year, slipping 8.5 percent for $195 million in sales. It also closed 18 of its stores for a total of 50.
Top 5 home textiles specialty retailers
|Top 50 Rank||Company||Home Textiles Sales ($Millions) 2000||1999||Percent Change||Number of Stores 2000||1999|
|R = Revised from updated information.
Source: HTT Research
|5||Bed Bath & Beyond||$1,318.0||$1,022.0R||29.0%||311||241|
|6||Linens 'N Things||$913.0||$774.0||18.0%||283||230|
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