by Karl D. Forth
Sales slip for FDM 300
companies in 2010
After one of the worst years
ever in 2009, sales for the
FDM 300 group of companies had a recovery of
sorts in 2010 – but still
We estimate that
sales for this group of
to $38.49 billion for the
year 2010. That’s a decrease of 6. 4 percent from
2009 sales of $41.12 billion.
The 2009 figure represented
a 19-percent decrease from 2008
sales of $50.71 billion. Sales peaked at
$57.96 billion in 2006.
We were optimistic about sales being
about even in 2010, but a few companies
had big sales declines. A number of other
privately held firms did not provide a sales
figure. As we have observed previously,
companies are much less likely to share
sales data if it has been a down year.
The FDM 300 is a group of the 300
largest cabinet, furniture, millwork, store
fixture, office/contract and component
producers in North America.
We have a complete list of all 300
companies in this issue, and more
detailed information on the 25 largest
companies, ranked by sales volume.
Our estimate for number of employees in the FDM 300 for 2010 was
275,870, a decline of 3. 3 percent from
285,447 in 2009. The employment figure
is almost certainly lower – most companies did not offer an updated number.
When asked, many requested that last
year’s number be used. Employment fell
15 percent in 2009. Our estimate of number of employees was 337,861 in 2008.
Companies that survived the past
few years are hoping for a positive sales
Sales for this group of companies amounted to
$38.49 billion for the year 2010, a decrease of
6. 4 percent from 2009 sales of $41.12 billion.
year in 2011,
are that more
companies in this
group will achieve
that level. Economists
are predicting growth of 3
percent in 2011.
There are some positive signs.
BIFMA reported that U.S. office furniture
production was forecast to increase 4. 4
percent in 2010 to $8.2 billion. In 2011,
production is forecast to increase 8. 3
percent to $8.9 billion.
Smith Leonard’s November Furniture
Insights report showed mixed results for
the wood and furniture industries. From
January to September 2010 residential furniture shipments were up 8 percent over
the same period a year earlier. Year-to-date
cabinet sales were reported to be about
even by KCMA in the same time frame.
Final 2010 numbers are not yet available.
There are 11 companies that were in the
FDM 300 in 2009 but are not on the current
list. A more detailed report on these companies will follow in the coming weeks.
Most of the 11 companies that were
added were firms that had sales just too
low to be included in 2009.
Big 10 capsule countdown
Most of the 10 largest companies at
least held their own through 2010:
1. Ashley Furniture: Ashley won
by default when Steelcase reported a
large sales decline for its fiscal year. We
don’t have complete information, and
were not able to get an updated number
or a breakout of store sales as part of
the total. Imports reportedly account for
about 40 percent of furniture sales.