The largest site of the five Nebraska Furniture Mart stores, the Dallas location is now also the biggest moneymaker for the furniture franchise. Located in The Colony about 30 miles north of Dallas, the Texas store has generated over $940 million through the first six months of the year.
Founded in 2016, the Dallas location has quickly ascended to being the biggest cash cow for Nebraska Furniture Mart. Their rapid rise isn't all too surprising given the high hopes the franchise had for the Dallas chain.
When discussing the opening of the Dallas store, Nebraska Furniture Mart investor and business magnate Warren Buffett projected it could rake in nine figures yearly.
“I believe the store will do over $1 billion,” Warren Buffett said casually in a 2016 television interview, around the time the store was opened.
Even $1 billion was an underestimate for the mighty Dallas location, though. With nearly a billion dollars earned halfway through the summer, the furniture store is on pace to crack nearly double at $2 billion.
In light of their recent success, Nebraska Furniture Mart increased wages for warehouse workers to $18 -$23 an hour. The uptick in pay is for both existing employees and new hires.
Additionally, the company said that future annual raises of 7% is a distinct possibility as well.
“Nebraska Furniture Mart’s goal is to be the employer of choice in each of our markets,” said NFM human resources director Megan Berry Barlow. “Our new higher wages will help us achieve this goal, along with a 7% annual raise potential, a great benefits package and a unique, fun work culture.”
Establishing themselves as the favored warehouse retailer is certainly a wise move for Nebraska Furniture Mart. With so many warehouse and shipping jobs in the Dallas area, the furniture superstore knows that it will need to be competitive with its compensation to lure workers in.
With a roughly 560,000-square-foot, two-level store and 1.3 million-square-foot warehouse to operate, Nebraska Furniture Mart certainly won't be short on job openings any time soon. Especially as the frequency of online shopping increases as the holiday season approaches.
Given the overwhelming success of the Dallas store, which accounts for over 50% of total revenue for Nebraska Furniture Mart, the furniture franchise is strongly considering opening another store in Texas.
Houston and Austin are said to be the preferred destinations for expansion, according to a Nebraska Furniture Mart executive that requested anonymity.
Both cities make a ton of sense as a potential landing spot for a new store. Like Dallas, they both over very robust economies and have the space to host a Nebraska Furniture Mart superstore. Additionally, given the abundance of success the Dallas store is experiencing, it may behoove Nebraska Furniture Mart to double-dip into a booming Texas market.
Whether the company ultimately decides to expand or not, they have to be thrilled with the output of their Dallas store.
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