Market

With technology becoming more and more ubiquitous and iPhones, iPads, Air Pods, and laptop computers continuing to need power and serve as drivers of activity in common areas, we are seeing a new trend of embedded chargers and speakers in upholstery making the rounds in hospitality, commercial and residential settings.

The general sentiment was that the furniture industry is in transition and management teams need constant vigilance and a willingness to adapt to succeed in this rapidly changing environment.

ur team kicked off 2019 with a flurry of travel. January’s tradeshow gauntlet was in full force with back to back shows for three consecutive weeks. The Vegas market this week was the highlight.

The merger & acquisition market continues to be strong. In our opinion, it is the best environment since the late 1990s with high buyer interest and an abundance of sellers.

Our industry continues to grow rapidly in this channel and most companies are exploring how best to participate.

The environment heading into Neocon is upbeat—with stock prices high, the general economic environment strong and the M&A industry hot.

Stump & Company has had a very strong 12 months with four ‎transactions closed in the Hospitality Sector in 2017 and 2018. We look forward to several other announcements in the coming months.

This was one of the best markets in years, a sentiment shared by most people we encountered during our 6 days in High Point.

The Las Vegas market was busy and upbeat – the halls felt packed and energetic. There were even rumors that this market set attendance records!

BDNY (Boutique & Design: New York) was packed and energetic, with many companies reporting record traffic. The Javitz Center format continues to be a hit with small booths that enable companies to efficiently display capabilities and conduct meaningful business without an undue amount of overhead.

The attitude among high-end companies in particular was upbeat. The CEOs we spoke with were enjoying robust traffic and business in this strong economic climate.

This is an exciting time in the market cycle to be entering the High Point Furniture Market. The M&A market is wide open and transactions are happening across our Industry. Prospective Buyers are looking for growth, profitability, and strong management teams. If you need help getting there, we are happy to help. Now may be the time for you to sell!

The halls were jammed this year for the annual commercial furniture exhibition in Chicago. Attitudes were upbeat and most of our clients are signaling good sales and profits for the year.

The M&A environment remains upbeat, and we see a compelling balance of buyers and sellers. There are strong strategic buyers that are interested in growth and diversification of products. Private equity companies have invested in the space, which indicates that there is, likely, additional investment to follow.

The weeklong Spring Residential High Point Market was upbeat and busy. The resounding feeling was that this market was a success, with the energy and enthusiasm of 2006/2007. We spoke with 200+ industry CEOs who described business as good in spite of a weak first quarter with some retailers.

The Las Vegas Market continues to be an important market. The crowds were good and most exhibitors and visitors were optimistic about the coming year. After a year of relatively flat growth and negative political noise, people seemed ready to hit the ground running this year.

There was a vibrant and upbeat backdrop for BDNY (Boutique & Design: New York). We spoke with over 100 hospitality CEOs who all, despite a sluggish fall for many, seem optimistic about the growth in the hospitality sector and a clear path of continued strong growth through 2017 and likely into 2018.

The M&A environment remains open and brisk. The announcement of Lee’s sale to American Leather indicates that the market is indeed open for business. Activity and strengthening of good companies is positive news for the entire industry.

The Stump & Company team feels the merger market remains vibrant with a strong balance of buyers and sellers. One public announcement in particular is worth noting: LacquerCraft's purchase of Grand Manor is a signal that the market is open, and indicates the attractiveness of domestic upholstery.

The High Point Market continues to be a “can’t miss” show for residential furnishings. This year was no exception, and exhibitors felt that traffic was good and order writing was consistent with prior years. Positivity prevailed and exhibitors and attendees alike were upbeat in this economic climate, despite the noise and confusion of state and national politics.

We are pleased to welcome Stuart (Stump) Mullens to our firm as Vice President and a principal in the firm. Stuart continues the 3rd generation development of future leaders of The Stump Companies.

Stump & Company love the High Point Market in the fall when the weather is clear and cool, and this year we got a perfect Chamber of Commerce commercial: blue skies, calm winds and nice temperatures. Also we had strong attendance, good buying attitudes and no stock market crash.

Contract/Commercial furniture folks are upbeat, as business is strong across all sectors, and most people believe we have another 2-4 years of growth ahead of us.

Optimism at the market was palpable. Most owners mentioned looking 1-2-3 years down the road and seeing encouraging signs for increased sales growth and shareholder value creation. With these good feelings comes renewed chatter in the Merger & Acquisition market. Many Private Equity firms want out of existing positions, while plenty of others want in. Some will want to add to existing portfolios to bolster their holdings. Strategic acquisitions are likewise heating up.