Textile Furnishings Mills

Industry Profile Report

Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters

Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation Call Prep Questions, Industry Terms, and Weblinks.

Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.

Industry Profile Excerpts

Industry Overview

The 1,500 textile furnishings mills in the US manufacture non-apparel textile-based products, including floor coverings, window treatments, and household linens. Household linens include bedspreads, blankets, comforters, cushions, napkins, pillowcases, pillows, placemats, quilts, sheets, slipcovers, shower curtains, tablecloths, and towels. Customers include distributors and retailers. Carpet and rug mills also sell to builders, interior decorators, and designers.

The Fashion Element In Household Textiles

Fashion trends and fads have become a critical factor in driving demand for curtains, drapes and household linens.

Competition From Imports

Imports dominate the curtain, drape, and household linen categories, and account for about 81% of the US market.

Industry size & Structure

A typical carpet and rug mill employs 140 workers and generates about $45 million annually, while a typical curtain and linen mill employs about 16 workers and generates almost $8 million annually.

    • The textile furnishings mill industry includes about 1,500 companies which employ 46,400 workers and generate about $13 billion annually.
    • While the curtain and drape mill industry is fragmented, the carpet and rug and household linen mill industries are concentrated.
    • Large companies include Shaw, Mohawk, WestPoint Home (Icahn Enterprises), and Springs Global US (Springs Global Participacoes).
                            Industry Forecast
                            Textile Furnishings Mills Industry Growth
                            Source: Vertical IQ and Inforum

                            Recent Developments

                            Mar 1, 2023 - Home Textile Imports Decreased in 2022
                            • Home textile imports declined in key categories in 2022, according to a new report from the Department of Commerce in Home Textiles Today. The Office of Textiles and Apparel report found double-digit volume declines in curtains (23.4%), cotton sheets (17.1%), and towels (14.6%) in 2022; volumes also fell on a dollar basis, even with inflationary pricing. The declines were driven by a surplus of merchandise in early 2022 and consumers curtailing their discretionary spending as inflation grew.
                            • Improved housing affordability and easing mortgage rates pushed home builder sentiment higher in February 2023, according to the National Association of Home Builders (NAHB). Homebuilder sentiment, as measured by the NAHB/Wells Fargo Housing Market Index (HMI), increased seven points to 42 in February 2023 over the previous month, marking the second consecutive monthly gain and the highest reading since September 2022. Any HMI reading over 50 indicates more builders see conditions as good than poor. To attract buyer traffic, 57% of homebuilders reported providing buyer incentives, such as cutting prices, offering mortgage rate buy-downs, and paying points for buyers, according to the NAHB.
                            • Total unit sales of discretionary general merchandise in the US fell 7% in 2022 over the prior year, according to NPD Group data in Furniture Today. While the year started strong for general merchandise sales, things soured after the economy took a downturn in March. From March to December 2022, only 11 weeks delivered revenue gains, with the highest-selling periods being mid-July promotions and the December holiday season. Sales are projected to decline in many home and home improvement categories in 2023, compared to the robust sales during the pandemic. Still, sales may see an uptick as consumers will be looking to replace some of the products they purchased in the early months of the pandemic. According to Joe Derochowski, NPD’s vice president and industry advisor for the home and home improvement industries, consumers will settle into a more structured life that “still leans toward a home-centric lifestyle.”
                            • US manufacturing activity contracted in January 2023, falling below the baseline for growth for the third consecutive month, according to the Institute for Supply Management (ISM), per Textile World. In January, the ISM’s Purchasing Managers Index (PMI) fell to 47.4%, down from 48.4% in December. A reading above 50% indicates manufacturing expansion. January’s New Orders Index fell 2.6 percentage points to 42.5%. The January Production Index experienced a 0.6 percentage point decrease to 48%. Of the manufacturing industries tracked by the ISM, only two reported growth in January: Transportation Equipment and Miscellaneous Manufacturing. Sectors reporting contraction included Wood Products, Textile Mills, Paper Products, Furniture & Related Products, and Plastics & Rubber Products.
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