City Furniture, ranked as the second largest and fastest
growing furniture retailer in Florida, plans to double in size over the next five
years, according to CEO Keith Koenig, who announced today a new licensing
agreement with Arcadia, Wisconsin-based Ashley Furniture Industries.
With sales estimated to grow from $263 million in 2003 to more than $300
million in 2004, City Furniture is planning to open 13 new Ashley Furniture
HomeStores by 2007. The first three Ashley stores are scheduled to opening in
June, July and August 2004.
The first 35,000-square-foot Ashley store is scheduled to open at Sawgrass
Mills Mall in June, followed in July by a 32,000-square-foot store in West Palm
Beach and in August by a 22,000-square-foot store in Kendall.
The stores, which will operate independently but under City Furniture
management, will feature the Ashley line of furniture exclusively.
Ashley Furniture Industries is the world's third largest furniture
manufacturer, founded in 1945. More than 120 Ashley Furniture HomeStores across the
country are independently owned and operated.
The new City Furniture-operated Ashley stores will feature a wide range of
furniture and accessory offerings, including upholstered furniture, bedroom and
dining room sets, as well as home office and entertainment unit pieces.
"We've watched the Ashley Furniture HomeStores grow in popularity throughout
the country," said Koenig. "It was only a matter of time before they began
opening in Florida. We wanted City Furniture to be the one to bring the
expanded offerings to our customers."
Koenig added that the popular brand of furniture will continue to be offered
in City Furniture stores as well.
Other City Furniture expansions planned for the year include the addition of
220,000 square feet to its existing distribution center and headquarters
facility, which will grow to 880,000 million square feet, and the expansion and
remodeling of the existing Hialeah store at 5250 W. 20th Avenue from 38,000 to
57,000 square feet.
Koenig attributes the success and rapid growth of City Furniture in part to
the retailer's popular Same Day Delivery 7 Days A Week, which is offered until
6 p.m. Monday through Saturday and 3 p.m. on Sunday.
"A customer choosing furniture in the afternoon can have one piece, a room
full or an entire house of furniture delivered before midnight that same day,"
he explained. "No other South Florida furniture company offers this service so
late in the day seven days a week."
Founded in 1971 as Waterbed City, the company's success has been built on
the offering of a wide selection of furniture at every day low prices, together
with excellence in customer service. Showrooms are designed to be inviting
places, complete with fresh coffee and home-baked cookies for customers. An
in-house staff of 300 service technicians and 50 customer service
representatives work around the clock to keep deliveries on schedule and customers happy.
Internally controlled inventory, ordering systems, staffing and delivery
fleets allow the company to maintain tighter controls on the entire customer
City Furniture, recipient of the 2003 the Ernst & Young Florida Entrepreneur
of the Year Award in the retail category, operates four stores in Dade, six in
Broward and three in Palm Beach Counties and employs more than 1,200
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