SIC 5021 Furniture

SIC 5021

This classification comprises establishments primarily engaged in the wholesale distribution of furniture, including bedsprings, mattresses, and other household furniture; office furniture; and furniture for public parks and buildings. Establishments primarily involved in the wholesale distribution of partitions, shelving, lockers, and other store fixtures are classified in SIC 5046: Commercial Equipment, Not Elsewhere Classified.

NAICS CODE(S)

442110

Furniture Stores

421210

Furniture Wholesalers

INDUSTRY SNAPSHOT

The wholesale distribution of furniture industry is subdivided into two categories: establishments engaged primarily in the sale of household and lawn furniture, and establishments primarily engaged in the sale of office and business furniture. According to statistics compiled by the U.S. Census Bureau, 29,920 establishments were listed in this classification in 2001. Combined sales totaled $23.1 billion in 2003. There were 278,231 people employed within this industry, with an annual payroll of $7.5 million. The average establishment generated $2.7 million in sales. California, Florida, and New York controlled 32 percent of the market.

BACKGROUND AND DEVELOPMENT

This industry is affected by interest rates and the housing market. When these economic indicators are stable and strong, the furniture industry generally has higher retail sales. Barrons reported that the furniture industry experienced a slump from 1988 until mid-1992 when a "stop-and-start" recovery process began. Conditions within the furniture industry reflected the nation's general economy as consumers postponed purchases. As a result, when the economy began to improve, there was a pent-up demand for industry products, and the American Furniture Manufacturers Association (AFMA) predicted an increase in furniture shipments.

Following a slump in the early 1990s, the International Wholesale Furniture Association found more than 90 percent of survey respondents reported sales increases in 1993. Sales continued to climb in 1994 and 1995. Throughout 1995, monthly sales for furniture and home furnishings were between $3.1 and $3.4 million. AFMA also predicted an increase in the value of shipments of 7.6 percent in 1999, and a smaller increase of 2.1 percent for 2000. Consumer...