Heilig-Meyers tops list of fastest-growing retailers

Article Abstract:

Heilig-Meyers, a Richmond, VA-based retailer, has taken the lead as the fastest-growing furniture retailer in the US, according to magazine Furniture/Today's furniture store growth index, as acquisitions fueled a 69.4% increase in furniture, bedding and accessories sales in 1997. The retailer also garnered the top spot on the magazine's Top 100 list for the second straight year with furniture, bedding and accessories sales of $1.7 billion. Heilig-Meyers' store count increased to 1,253 in 1997 from 309. The company's growth in 1997 was spurred in large measure by the acquisition of Mattress Discounters with 174 stores at year-end.

Comment:

Takes lead as the fastest-growing furniture retailer in the US as acquisitions fueled 69.4% increase in sales in 1997

Sales & consumption

Heilig-Meyers mum on Rhodes

Article Abstract:

Heilig-Meyers is refusing to comment on what it plans to do with the remaining Rhodes stores. There are now 98 Rhodes sites across the US, after Heilig-Meyers sold eight Rhodes shops in Colorado to American Furniture Warehouse. Heilig-Meyers President and Chief Operating Officer Troy Peery would only say that the company was glad to exit the Colorado market, where its Rhodes stores were not performing up to par. The remaining Rhodes locations were also struggling in terms of sales, reporting a drop of 9% in same-store sales in October 1998, from the same year-ago period.

Comment:

Refuses to comment on what it plans to do with the remaining Rhodes stores

Strategy & planning

Heilig to liquidate Homemakers

Article Abstract:

Heilig-Meyers is planning to terminate its John M. Smyth's Homemaker store chain as it failed to find a buyer. The chain entails three stores.

Organizational history, Furniture and Homefurnishings Stores, HMYRE, John M. Smyth's Homemakers