Both contract and residential furniture manufacturers listed in the FDMC 300 experienced an overall drop in sales. However, many companies managed to hold steady or even see small increases.

Combined 2024 sales for the 98 FDMC 300 companies in this segment were roughly $32.8 billion, ($17.2 billion commercial and $15.6 billion residential) compared to $34.5 billion in 2023, and accounted for 44.7 percent of the overall FDMC 300 sales total of $73.3 billion. 

The residential furniture sector was hit by the slowdown in the housing market, elevated interest rates, and inflation, all of which have led to consumers spending less. Meanwhile, the contract furniture industry continues to grapple with economic uncertainty and evolving workspace models, although the increasing trend of employees returning to the office either full-time or part-time may alleviate some of these negative impacts in the future. Ongoing supply chain issues have also had an impact on the overall industry, particularly the large manufacturers in the FDMC 300.

The FDMC 300 is an annual report published in April that tracks North America’s largest wood products manufacturers and ranks them by sales. (See about the FDMC 300, below.)

Changes in the FDMC 300
2024-2025 saw several changes in FDMC 300 companies in the furniture segment, including the addition of Table Designs (#297). Others grew through acquisitions, expansions or partnerships. Of note are:

• In addition to opening several branded retail stores worldwide, Ashley Furniture (#1) has invested more than $2 billion in recent years into its operations. The company said the investment significantly enhances its U.S. manufacturing infrastructure and positions the residential furniture giant to better navigate potential tariff impacts and market shifts while maintaining supply chain reliability. The company is also expanding several of its lines, including outdoor furniture.

• RTA furniture specialist Sauder Woodworking (#25), which also produces closets under the Sauder Building Products division, in September 2024 launched Sauder Supply, a new business segment for cost-effective components.

• Haworth (#7) and MiEN announced in October a partnership to grow both companies’ presence in the education market. MiEN offers specialized solutions that build on Haworth’s comprehensive suite of products for higher education and K-12 learning environments. 

• Also in October, Fellowes Contract Interiors (#89) entered into a strategic alliance with Unika Vaev, a specialist in sound-absorbing decorative acoustic materials, for unique wall solutions.

• In November, Kewaunee Scientific (#), a leader in laboratory furniture and technical product design and manufacturing, acquired Nu Aire, a Minneapolis-based laboratory equipment company, for $55 million, subject to certain adjustments for debt, cash, transaction expenses, and net working capital.

• Stevens Industries (#84), a high-production panel processor and furniture/casegoods producer based in Illinois, acquired the assets of Design Tex Cabinetry, a Georgia-based cabinetry and millwork manufacturer, in February of this year.

• Also noteworthy was the acquisition in January 2025 of Thos. Moser (#261) by Chenmark, a family-owned holding company. According to Chenmark, Thos. Moser will continue with the same team, and its operations will remain in Maine. 

The past 12 months also saw their share of negative news. A few companies announced plant consolidations to save costs and streamline production, including Dorel Industries (#28), which in January announced the closing of one factory and a “significant restructuring of its Home segment.” In a June 30 update, Dorel Home announced it would close its North American manufacturing operations and reduce its product portfolio.

In November, Bassett Furniture Industries (#57) announced it would reduce its workforce to “streamline operations and better match the company’s cost structure to the current rate of business.” The company also provided updates on its five-point restructuring plan, announced in July 2024, which is expected to provide $5.5 million to $6.5 million in annual cost savings. Included in the plan was the closing of the Noa Home e-commerce business and the integration of two U.S. wood manufacturing locations into one.

Industry outlook
Tariffs and possible supply chain issues notwithstanding, there are signs of optimism in the furniture industry.

Nearly 50,000 design and industry professionals attended the recent NeoCon, including decision-makers from leading architecture and design firms.  Held June 9-11 at The Mart  in Chicago, the event featured showrooms and displays from more than 450 exhibiting brands showcasing innovative solutions for the workplace, education, healthcare, retail, and hospitality. The concurrent Fulton Market Design Days, which included showrooms by more than 50 recognized brands, also saw good attendance.

April’s High Point Market had mixed results, with some exhibitors seeing high activity and sales, and others not. Sharing his thoughts on the event, Mark Laferriere, assurance partner at Smith Leonard which produces the monthly Furniture Insights, noted, “Expectations were understandably tempered coming in, but most people we spoke with were pleasantly surprised. Tariffs were obviously a huge topic of conversation, but some said it still felt like a ‘normal’ market, with others saying it was one of their best in recent years, due in part to exciting new introductions and/or new opportunities with retailers exploring their domestic versus import options. While traffic was reported to be down (particularly international), those who were there seemed ready to do business.”

Manufacturers’ perspectives
Manufacturers are also reporting mixed results as fiscal quarters close.

Despite “tariff-driven volatility,” HNI Corp. (#11) posted Q1 2025 gains in its Workplace Furnishings segment. “Our first quarter results demonstrate our ability to manage through varying macroeconomic conditions, while remaining focused on the future. And while we expect macro headwinds and demand volatility over the near-term, based on our leading indicators — both external and internal, we expect strong results to continue, driven by our margin expansion efforts and a return of volume growth,” stated Jeff Lorenger, chairman, president, and CEO. Net sales are also projected to rise in Q2.

Steelcase (#4), which closed out its 2025 fiscal year on Feb. 28, saw Q4 orders and revenue grow in the Americas, but decline internationally. “We believe our fiscal 2025 order growth of 6 percent in the Americas (including 12 percent growth in the fourth quarter) is supportive of our mid-term revenue growth targets of 4 to 6 percent,” said Dave Sylvester, senior vice president and CFO. For fiscal 2026, the company  is targeting mid-single-digit organic revenue growth. 

Ethan Allen (#39) is also upbeat despite the challenging environment. “Our vertically integrated enterprise, including our interior design retail network, relevant product offerings, and ability to manufacture about 75 percent of our furniture in our own North American facilities, has provided us a strategic advantage,” stated Farooq Kathwari, chairman, president, and CEO. Pleased with Q3 results, he added, “These results reflect our ability to operate in an industry faced with reciprocal and retaliatory tariffs, uncertainty in the economy, elevated interest rates, and a challenging housing market, that together, have impacted consumer confidence and interest in the home.” 

About the FDMC 300
The FDMC 300 is the woodworking industry’s oldest recognized ranking of the largest North American manufacturers of wood and panel products. The 2025 FDMC 300 is sponsored by (in alphabetical order): Daubert Chemical Co., DVUV, IMA Schelling Group, Panel Processing Inc., SATA, and Vortex Tool Co.

The 39th annual report was published in the April issue of FDMC magazine. Updates of the FDMC 300 firms and the various industry segments are posted throughout the year at WoodworkingNetwork.com/FDMC300. For questions or inclusion in the FDMC 300, contact Karen Koenig at [email protected]. 

Top 20 furniture firms in the FDMC 300
Below is a list of the top 20 contract and residential furniture manufacturers in the FDMC 300.  Rankings are based on 2024 sales, with information provided by the companies, our research, or recognized sources. *Due to the fact that many companies are privately owned, the number provided is considered an estimate. 

• #1 Ashley Furniture Industries Inc., Arcadia, WI. Brands: Ashley Case Goods, Ashley Upholstery, Millennium. (Ashley  Furniture Industries, LLC; Ashley Distribution Services, Ltd.; Ashley HomeStores, Ltd.; Ashley Global Retail, LLC). *2024 sales: $6.85 billion (excludes retail).
• #2 MillerKnoll,  Zeeland, MI. Divisions: Herman Miller and Knoll, plus: Colebrook Bosson Saunders, DatesWeiser, DWR, Edelman, FilzFelt, Geiger, HAY, Holly Hunt, KnollTextiles, Maharam, Muuto, naughtone, Spinneybeck.  *2024 sales: $3.6 billion (FY).
• #4 Steelcase Inc., Grand Rapids, MI. Divisions: Steelcase: Learning, Health; AMQ, Coalesse, Designtex, Halcon, Orangebox, West Elm, Smith System, Viccarbe, Bolia. *2024 sales: $3.2 billion (FY).
• #7 Haworth Inc., Holland, MI. Divisions: Haworth, BuzziSpace, Cappellini, Cassina, Hushoffice, JANUS et Cie, Poltrona Frau, Tuohy. *2024 sales: $2.5 billion
• #11 HNI Corp., Muscatine, IA. HNI divisions: Hon, Allsteel, Design Public Group, Danish Design, Gunlocke, HBF, HNI Global, HNI India (Workplace Furnishings segment). Kimball divisions: Workplace, Health, Hospitality: Kimball, National, Etc., Interwoven, David Edward, Kimball Hospitality, D'style. *2024 sales: $1.888 billion (FY)(Workplace Furnishings segment).
• #15 La-Z-Boy Inc., Monroe, MI. Divisions: La-Z-Boy Residential, Joybird, Hammary, England Furniture, Kincaid Furniture, American Drew. *2024 sales: $1.447 billion (excludes retail) (FY).
• #18 Global Furniture Group, Downsview, ON. Divisions: Workplace | Education | Healthcare,  Offices to Go. *2024 sales: $1 billion
• #23 KI, Green Bay, WI. Divisions: KI Canada, KI Europe Middle East Africa, KI Wall, Pallas Textiles, Spacesaver. *2024 sales: $650 million
• #24 Teknion Corp., Toronto, ON. *2024 sales: $646.8 million.
• #25 Sauder Woodworking,  Archbold, OH. Divisions: Sauder RTA, Progressive, Sauder Mfg., Wieland, Butler Woodcrafters, Spec Furniture. *2024 sales: $600 million.
• #28 OFS Brands Inc., Huntingburg, IN. Divisions: OFS, Carolina, Bryan Ashley, ROOM. *2024 sales: $543.3 million.
• #29 Dorel Home/Dorel Ind., Montreal, QC. Divisions: Ameriwood Home, Cosco Home & Office, DHP, Novogratz, Mr. Kate, Bertini, Signature Sleep, Real Rooms, Baby Relax, Ntense, Little Seeds, Cosmo Living, Ren Home, Alphason     *2024 sales: $516.15 million (FY).
• #33 Hooker Furnishings Group, Martinsville, VA. Divisions: Hooker (Furniture, Casegoods, Upholstery), BOBO, Bradington-Young, Drew & Jonathan Home, H Contract, HF Custom, M, Prime Resources Intl., Pulaski, Samuel Lawrence, Samuel Lawrence Hospitality, Shenandoah, Sunset West. *2024 sales: $433.2 million (FY).
• #34 Palliser Furniture Ltd., Winnipeg, MB. *2024 sales:$422.2 million.
• #35 Flexsteel Industries Inc., Dubuque, IA. Divisions: Flexsteel, Home Styles, Charisma. *2024 sales: $412.752 million (FY).
• #36 Stickley, Manlius, NY. *2024 sales: $410 million.
• #38 Southern Furniture Ind., Pontotoc, MS. Divisions: Southern Motion Inc., Fusion Furniture. *2024 sales: $390.3 million.
• #39 Ethan Allen Interiors Inc.. Danbury, CT. Divisions: Ethan Allen Global Inc., Ethan Allen Retail Inc., Ethan Allen Operations Inc. *2024 sales: $371.1 million (excludes retail)  (FY).
• #43 Artisant Lane, Dallas, TX.  Divisions: American Leather, BenchMade Modern, Brookline Furniture, Lee Industries. *2024 sales: 294.6 million
• #44 Bernhardt Furniture, Lenoir, NC. Divisions: Bernhardt Residential, Bernhardt Design, Bernhardt Hospitality. *2024 sales: $280 million.

View information on all the companies in the 2025 FDMC 300 at WoodworkingNetwork.com/FDMC300.