After five consecutive years of declines in annual sales, the FDM 300 recorded a sales gain of 4 percent in 2012. And it was the largest companies that helped pull the overall group into the positive column.
We estimated sales for this group of 300 companies in the United States and Canada to be $37.632 in 2012. That’s an increase of 4 percent over sales for this group in 2011, which was $36.167 billion.
A year ago, office and contract furniture producers led the way in increased sales. In 2012 it was more difficult to identify one group that had gained more than the others.
In 2011 we estimated that sales had declined 2.25 percent from the year before (Total sales were $37 billion in 2010, after an adjustment removing retail operations from several large companies.) The largest sales decline (19 percent) took place after comparing 2009 and 2008 sales.
The FDM 300 is a group of the 300 largest cabinet, furniture, millwork, store fixture, office/contract and component producers in North America. A detailed list of the top 25 companies follows, along with a summary of all 300 companies.
Additional information can be found at www.cabinetmakerfdm.com by clicking on the FDM 300 tab or searching for a specific company.
We were not able to get updated sales and employee numbers from some privately held companies, but were able to update at least some information on these companies. Our number of employees for all 300 companies is reported to be 272,583, but we believe the actual number is smaller than that.
Also, there were 11 companies listed last year that are no longer listed, along with 11 new companies and a few name changes, which we will detail in future issues.
Here’s a look at some of the largest companies in the FDM 300:
1. Steelcase Inc. The largest company in the FDM 300 this year reported an increase in sales for its 2012 fiscal year of more than $300 million over the previous year.
2. Herman Miller Inc. Sales were up again for the publicly-traded company.
3. HNI Corp. Number based on third quarter sales for the office furniture segment. Sagus International Inc. was purchased by HNI in late 2011 and was listed as a separate company a year ago. This year, its Artco-Bell, Midwest Folding and LSI Corp. divisions are included in HNI’s listing.
4. Andersen Corp. Sales number is our estimate and reflects an increase in business.
5. Haworth recorded annual sales of $1.38 billion for its most recent complete year in February 2012. Sales increased about 15 percent over the $1.21 billion reported the previous year.
6. MasterBrand Cabinets, the Fortune Brands Home and Security’s kitchen and bath cabinetry segment, recorded sales gains through the first three quarters of 2012. The figure is based on those three quarters. Martinsville, Va., plant was closed.
7. Masco Corp. The figure here is based on the year-to-date sales for the cabinet and related products segment (nine months) and was down 5 percent from the same period in 2011.
8. La-Z-Boy Inc. Sales of $1.114 billion represent fiscal 2012 sales for the company’s upholstery and casegoods segment, and do not include sales from the retail segment. Upholstery sales were up in fiscal 2012, casegood sales were down.
9. Ashley Furniture Industries Inc. Figure does not include estimate of retail store sales.
10. Jeld-Wen Inc. This is an estimate of window and doors business, not resort and landholdings. Part of Jeld-Wen was bought by Onex in 2011.
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