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Top Majap Dealers See 10.3% Sales Gain

6/04/2004 12:36:00 PM Eastern

New York — Asked recently about the state of his home appliances business, J. Con Maloney, CEO of Cowboy Maloney’s Electric City, told TWICE that white goods sales remained strong, which should come as no surprise.

"Appliances are always going to be good," Maloney said. "We refer to the category as ‘Mother,’ and we say, ‘Mother always takes care of us.’"

Turns out Mom didn’t let Maloney or the balance of majap retailing down in 2003. According to the results of TWICE’s Top 100 Appliance Retailers survey, white goods sales for the 100 largest appliance dealers in the land grew by 10.3 percent last year to $18.1 billion, outpacing 2002’s none-too-shabby 9.5 percent gains but trailing 2001’s 14 percent payday.

It should also come as no surprise that much of that growth could be attributed to the home-improvement channel, i.e. The Home Depot, Lowe’s, Menards and Spenard, which accounted for 31.2 percent of all Top 100 sales volume last year, up 19 percent to $5.6 billion from $4.7 billion in 2002.

Conversely, share of Top 100 sales for the mass merchant category, which, thanks to the inclusion of Sears, Wal-Mart and Kmart, remains the majap industry’s largest retail segment, slipped 6 percent from 35.3 percent to 33.2 percent of total volume, or $6.0 billion.

The third-largest dealer classification, regional CE and majaps chains like H.H. Gregg and P.C. Richard & Son, saw its market share fall 2.7 percent to nearly 11 percent of all Top 100 sales, while the No. 4 category, multi-regional CE and majaps chains, including Best Buy and Fry’s, edged up 2.3 percent to 9 percent of all Top 100 sales.

Here is a sneak preview of the TWICE Top 100 Major Appliance Retailer list. Copies will soon be available for online purchase

here

.



Estimated MAJAP Sales (b)

RANK

in $ millions

% Change

Number of Stores (c)

Store Name

2003

EST. 2002

2003/2002

2003

EST. 2002

1

Sears

$5,600

$5,400

3.70%

1,663

1,639

2

Lowe’s

3,508

2,987

17.4

952

854

3

Home Depot

2,025

1,639

23.6

1,518

1,362

4

Best Buy

1,333

1,154

15.5

608

548

5

Costco Wholesale

947

835

13.4

317

304

6

P.C. Richard & Son

540

534

1.1

46

44

7

Wal-Mart

355

320

10.9

1,471

1,258

8

H.H. Gregg

335

252

32.8

54

47

9

Sam’s Club

259

238

8.8

538

525

10

BrandsMart U.S.A.

211

197

7.1

5

5

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