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Friday, September 26, 2003

Big Lots adds furniture department


Business notes: Retailing

By Randy Tucker
The Cincinnati Enquirer

Columbus-based closeout retailer Big Lots recently opened a furniture department at its store in Hillsboro, Ohio, in the Highland Plaza.

Almost half of Big Lots stores in Greater Cincinnati and across the country sell furniture, and company officials project that number to grow dramatically in the coming months.

Big Lots, known for its wide selection of closeout merchandise - ranging from bass boats to golf carts to computers and even slot machines - is focusing on furniture in an attempt to capitalize on the still growing consumer trend known as "cocooning.''

The Sept. 11 terrorist attacks, the subsequent war with Iraq and a down economy have all led many Americans to spend more time - and money - at home, trying to create an oasis from the outside world.

According to the U.S. Commerce Department, consumer purchases of home furnishings increased 4.1 percent last year to $378.4 billion, up from $363.3 billion in 2001.

And the International Council of Shopping Centers, an industry trade group, reports that sales of home-related items outpaced sales of soft goods, such as apparel and shoes, by a 2-1 ratio last year.

Big Lots is not only leveraging the cocooning trend, it's targeting tightfisted consumers who are increasingly turning to discounters as the economy continues to sputter.

"When you accessorize with other products from our home furnishings and domestics department, an entire room can be fully furnished and tastefully decorated at a fraction of the cost of other furniture retailers," said Al Bell, Big Lot's chief administrative officer.

N.C. furniture store coming to HomeWorks

Another area retail center chasing the consumer dollars spent on home furnishings recently signed a new tenant.

North Carolina Furniture Direct is the latest furniture retailer to join the lineup at HomeWorks - a 315,000-square-foot outdoor center dedicated to home related retailers at the site of the former Jeffersonville II Outlet Center just north of Cincinnati.

North Carolina Furniture Direct is one of dozens of retailers famous for the discount prices they offer at their showrooms in High Point, N.C., where 60 percent of all furniture sold in the United States comes from, according to the National Retail Federation.

Representatives of The Boyle Group - a Malvern, Pa.-based retail consulting firm assisting in the leasing of the HomeWorks center - said they expect to announce the signing of two more High Point retailers soon.

Christian retailer adds Tri-County location

Family Christian Stores, the nation's largest Christian retail chain, has opened a new store in Cincinnati - the retailer's sixth in the metro area.

Grand Rapids, Mich.-based Family Christian Stores said the new 8,000-square-foot store, located on Kemper Road across from Tri-County Mall in Springdale, would offer a wide range of products, including the traditional books, Bibles, apparel and a wide range of children's products.



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