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

                            Dec 2, 2022 - Lowe’s, Home Depot Get Q3 Boost from Pro Sales
                            • Steady sales at the two largest home-improvement retailers may suggest sustained demand for textiles used in remodeling. Home centers Home Depot and Lowe’s managed to pull off sales wins in the third quarter even as inflation was rising, according to Construction Dive. Home Depot’s sales rose 5.6% year over year to reach $38.9 billion. Lowe’s Q3 sales of $22.5 billion were up 2.4% over Q3 2021. Both retailers said sales growth in Q3 was strongest for their professional customer segments as consumers cut back on DIY spending due to high inflation. In speaking to analysts, Lowe’s CEO said remodeling spending remains robust as homeowners make investments in their current homes rather than buy new ones.
                            • Home remodeling spending is expected to moderate by mid-2023, according to the Leading Indicator of Remodeling Activity (LIRA) report released in October by the Joint Center for Housing Studies at Harvard. Homeowner improvements and repairs are expected to increase 16.1% to $427 billion in the fourth quarter of 2022 compared to Q4 2021. In the first quarter of 2023, remodeling spending will reach $448 billion, up 15% over Q1 2022. Spending will then moderate to $445 billion in Q2 2023, 9.9% over Q2 2022, then remain flat in Q3 2023. Associate Project Director at the Joint Center for Housing Studies said, “Although remodeling market gains are expected to cool significantly next year, homeowners still have record levels of home equity to support financing of renovations.”
                            • High interest rates, elevated building materials prices, and a lack of affordable inventory pushed home builder sentiment lower in November, according to the National Association of Home Builders (NAHB). Homebuilder sentiment, as measured by the NAHB/Wells Fargo Housing Market Index (HMI), fell five points to 33 in November 2022 from 38 in October, marking the 11th consecutive monthly decline. Any HMI reading over 50 indicates more builders see conditions as good than poor. Amid weak buyer traffic, 37% of homebuilders reported cutting prices in November compared to 26% who reduced prices in September, according to the NAHB.
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