YOY February furniture store sales rise slightly

Only sectors to fare worse were motor vehicle and parts dealers, gasoline stations and electronics and appliance stores

WASHINGTON — Furniture store sales had another slow month in February with year-over-year sales barely budging from the same month last year.

Sales edged up .1% to $12.05 billion, up from $12.03 billion in February 2022, making it one of the slowest-growing retail segments surveyed by the U.S. government. This compared to an overall 5.4% increase in retail sales to $697.9 billion from $662.2 billion in February 2022.

The only other segments that fared worse than furniture in the government survey were motor vehicle and parts dealers, down .2% to $130.6 billion; gasoline stations, down 1.9% to $58.4 billion; and electronics and appliance stores, down 2.8% to $7.2 billion.

All other categories were up year over year in February, led by restaurants and bars, up 15.3% to $92.7 billion, from $80.5 billion in February 2022; general merchandise and department stores, up 10.5% to $73.8 billion, from $66.8 billion; non-store retailers including e-commerce sites, up 8.5% to $112.7 billion, from $103.9 billion; and health and personal care stores, up 8% to $34.8 billion, from $32.2 billion.

Other segments with year-over-year increases in February were as follows: food and beverage stores, up 5.5% to $81 billion, from $76.8 billion; miscellaneous store retailers, up 4.8% to $15.9 billion, from $15.1 billion; clothing and clothing accessories stores, up 4.3% to $26.7 billion, from $25.6 billion.

Like furniture stores, building materials and garden supplies stores had only a slight increase, rising .6% to $42.6 billion, from $42.3 billion.

For the first two months of the year, furniture and home furnishings store sales rose 3.5% from the first two months of 2022 to $21.8 billion. This compared to a 6.8% increase for retail and food services sales overall.

Furniture and home furnishings stores sales rose 5.7% in January from December, compared to 3.2% for overall retail and food services.

Thomas Russell

Home News Now Editor-in-Chief Thomas Russell has covered the furniture industry for 25 years at various daily and weekly consumer and trade publications. He can be reached at tom@homenewsnow.com and at 336-508-4616.

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