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Is Ashley Furniture Going Out of Business?

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Is Ashley Furniture Going Out of Business?

Is Ashley Furniture Going Out of Business?

When you’re furnishing a home, brand recognition matters. One name that often pops up is Ashley Furniture Industries (and its retail arm, often called “Ashley”). In this article, we’ll take a look at Ashley’s identity, whether it’s going out of business (spoiler: no), what its current strategy looks like, how it has been performing financially in recent years, how extensive its store/lots operations are, the impact of its “job lot” or outlet-type offerings on customers, its future plans, and a wrap-up conclusion. If you’re a consumer, investor, or blogger looking for a niche, this gives you a solid overview.

An Overview of Ashley Furniture

Ashley Furniture Industries is a U.S.-based home furnishings manufacturer and retailer headquartered in Arcadia, Wisconsin. Their business spans from manufacturing through distribution to retail. For example, one of its U.S. stores in Illinois has noted that Ashley operates over 1,000 locations worldwide.

The company manufactures living-room, dining-room, bedroom, entertainment, and home-office furniture and accessories. What is interesting is their vertically integrated business model: they build, transport, and sell their own furniture, which gives them cost and control advantages.

Is Ashley Furniture Going Out of Business?

There have been rumors and concerns about many brick-and-mortar retailers struggling, and some furniture chains have shuttered stores or filed for bankruptcy. But in the case of Ashley Furniture Industries, there is no credible evidence that the company as a whole is going out of business.

For context, one article discussing the closure of an Ashley Furniture Outlet store in Springfield, Illinois, mentions that the store was closing for consolidation, not because Ashley overall is failing. Additionally, Ashley had revenues of about US$10.3 billion in 2022.

Current Strategy of Ashley Furniture

Ashley’s current strategy appears multi-faceted. A recent article described how the furniture-retail boom during the COVID-19 pandemic has now slowed down, and Ashley is “modernizing for the new normal.” More specifically:

How Has Ashley Furniture Performed Financially in Recent Years?

Financially, the publicly accessible information is somewhat limited (Ashley is privately held), but there are several data points and analyst insights:

How Many Ashley Furniture Lot/Store Locations Are Currently Operational?

Exact current store counts are tricky because they include both company-owned stores and licensee-owned ones, plus global locations. Some published figures:

So, in sum, Ashley has hundreds to over a thousand store locations globally, and within the U.S., a large store base. While I couldn’t find an exact number of “Ashley Furniture Job Lot” or “Ashley Lot” stores (if that’s a distinct outlet brand), the main retail footprint remains substantial.

Impact of Ashley Furniture Job Lot on Customers

While “Job Lot” is not a widely publicized distinct brand within Ashley (at least not clearly in public sources), the concept of “outlet” or deeply discounted lot-type stores under Ashley (e.g., “Ashley Furniture Outlet”) does appear. For example, an Ashley Furniture Outlet location closed and the owner noted the decision to consolidate merchandise into the main store.

From a customer perspective, the impact of these lot/outlet stores includes:

Future Plans of Ashley Furniture

Looking ahead, Ashley has several clear future plans and strategic initiatives:

Conclusion

The Ashley Furniture-brand ecosystem, under Ashley Furniture Industries, remains a major and active force in home furnishings. Despite broad challenges in the retail furniture sector post-pandemic, Ashley is not going out of business — far from it. Instead, it is adapting: refreshing stores, growing online, expanding manufacturing, and reinforcing its value proposition for customers. 

 

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