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Industry News & Markets |
U.S.:May
Cabinet Sales Increase 12% |
| May Cabinet Sales Increase 12% HMR Custom News According to the Kitchen Cabinet Manufacturers Association Trend of Business Survey, cabinet sales increased by 12 percent in May 2002 over the same reporting period for last year. The rate of growth maintains the double-digit pace set earlier in the year, and nearly equals last month¡¯s 12.5 percent gain. The latest Survey has sales up by 13.1 percent for stock cabinets and 6.8 percent on the month for custom cabinets. Year-to-date figures for cabinet sales are reported at a full 11 percent higer than for the same five-month period in 2001, with stock cabinets posting 12.6 percent growth, and custom cabinets netting a 3.6 percent gain. Industry sources say cabinet sales continue to benefit from a strong housing market and better than expected remodeling activity in 2002. Member firms participating in the KCMA monthly Trend of Business Survey include stock and custom cabinet manufacturing companies that represent more than half of the cabinet market. The Kitchen Cabinet Manufacturers Association is the major trade association for manufacturers of kitchen cabinets and bath vanities, and suppliers of goods and services to the industry. All major U.S. cabinet manufacturing companies belong to KCMA, but 44% of the membership report annual sales of less than $5 million, and 63% are under $10 million in total annual sales. |
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