Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a Placer.ai account? Log In
Retail

Tuesday Morning and Sunrises in Home Furnishing

With Tuesday Morning recently filing for bankruptcy, we decided to zoom in on the home improvements segment and see how the segment is faring.

By 
Ezra Carmel
February 27, 2023
Tuesday Morning and Sunrises in Home Furnishing
SHARE
Explore our free tools to get timely insights into key industries
Check out the latest trends for
No items found.
Key Takeaways

Last week, the retail world woke up to the news that Tuesday Morning – the discount home goods brand – had filed for bankruptcy for the second time in the company’s history. Tuesday Morning’s first bankruptcy filing in 2020 – a result of the challenges of operating during a pandemic – led to the permanent closure of roughly a third of the brand’s locations. We dove into the latest visitation metrics for Tuesday Morning to take a closer look at what the most recent proceedings could mean for the chain and other retailers in the home furnishings space moving forward. 

Dawn of a New Day

Tuesday Morning filed for bankruptcy in 2020 and subsequently underwent an aggressive rightsizing effort – going from 700 stores in 2020 to 480 in 2023. The strategy seems to have paid off as both visits and visits per venue began to climb in Q3 2020. And since then, visits per venue have significantly outperformed overall visits, indicating that the locations that remained open are seeing more visits today than they were before the bankruptcy filing.

Tuesday Morning’s Wake-Up Call

Tuesday Morning appeared to be on the right track in 2021 as average visits per venue soared. However, when comparing 2021 foot traffic to 2022, it’s now clear that 2021 was an unusually strong year for foot traffic in the home furnishing space due to pent up consumer demand and stimulus buying power, as well as the persistence of remote and hybrid work. And 2022’s visit gaps indicate that these trends likely played a significant role in Tuesday Morning’s visit boost in 2021.

Comparison of Tuesday Morning’s average visits per venue in 2022 to 2019 – before the brand closed a significant number of stores – helps to put the brand’s performance into perspective. 2022’s average visits per venue were closer to 2019 levels than they were to 2021, which could indicate that the company didn’t close enough locations to sustain prolonged visit growth when rightsizing in 2020. The current plan to shut a number of underperforming stores could provide the long-term balance sought after by the chain.

Brands Rise and Shine

2022 wasn’t a particularly favorable year for foot traffic in the home furnishings category as a whole. Inflation and a general curbing of discretionary spending led to underwhelming visit numbers to the space for much of the year, and in that respect, Tuesday Morning was not alone. However, the winds of change appear to be blowing in recent months. Compared to the previous year, visits to several home furnishings brands – including Tuesday Morning – appeared to be on the upswing in the final months of 2022 and the start of 2023. 

In January 2023, Homesense, World Market, and Bob’s Discount Furniture reached 2.6%, 7.8%, and 18.4% year-over-year (YoY) visit growth, respectively. These rising stars, as well as their peers in the category who have also seen their YoY visit gap shrink in recent months, could continue to see visits climb as Tuesday Morning contracts its footprint in the home furnishings space. 

Who Will Benefit from Tuesday Morning’s Rightsizing? 

Some brands are particularly well positioned to benefit from Tuesday Morning’s store closures. Cross-shopping data indicates over a quarter of consumers who visited Tuesday Morning in 2022 also visited HomeGoods and At Home, while at least 12% of Tuesday Morning shoppers also visited World Market and IKEA. As Tuesday Morning rightsizes its fleet, some consumers may find their local store permanently closed – which may drive increased traffic to the other home furnishings brands that already appeal to this audience. 

Every Cloud Has a Silver Lining

With the news of Tuesday Morning’s bankruptcy filing comes optimism that the brand can once again bask in the sunlight. In what has been a harsh reality of late in the home furnishings category, several brands are turning a corner in recent months and experiencing upward foot traffic trends. 

For updates and more data-driven foot traffic insights, visit Placer.ai.

Learn how downtown regions across US cities are measuring up with our free tools.
Check out the latest trends for
No items found.
Explore our free tools to get timely insights into key industries
Check out the latest trends for
No items found.
SHARE
Get 3 brand & industry
breakdowns every week
Subscribe to the newsletter
Oops! Something went wrong while submitting the form.

Get a Demo

Please enter your first name
Please enter your last name
Please provide a valid email
Please enter your email
Please enter company name

Thanks for reaching out!

One of our experts will be in touch soon

Try Placer.ai Free
Oops! Something went wrong while submitting the form.

Recent Publications

Get 3 brand & industry breakdowns every week

Subscribe to the newsletter
Text Link
Home Improvement
Text Link
Tuesday Morning
Text Link
Homesense
Halloween’s 2024 Retail & Dining Impact – Party City Carries the Season
Checking in With Department Stores: Nordstrom and Macy’s
Superstores and Wholesale Clubs Ahead of the Holidays
Home Depot and Lowe’s Heading Into the Holidays
Starbucks and Dutch Bros: Short Visits Lead the Way
Planet Fitness: Raising the Bar(bell)
Checking in With Full-Service Restaurants: First Watch, Chili’s, and Outback Steakhouse
RBI and Yum!: QSR Resilience in 2024
Boot Barn and DSW: Stepping Up Their Game
Target’s October Circle Week: A Data-Driven Snapshot
Chipotle, Shake Shack & Wingstop: Dining Success in Q3 2024
Playa Bowls and Tropical Smoothie Cafe: Berry Big Business
Cheesecake Factory & BJ’s Restaurants: Full-Service Success
Checking in on McDonald's and Wendy's 
Sprouts Farmers Market: A Specialty Grocer With a Traditional Twist
CAVA: The Craze Continues
Placer.ai Reaches $100M Annual Recurring Revenue
Catching Up With Carter's 
A Texas Roadhouse and LongHorn Steakhouse Showdown
Placer.ai Mall Index: September 2024 Recap – Labor Day Peaks and Holiday Season Predictions
Albertsons Q3 Check-In
Looking Ahead to the 2024 Holiday Season
Trader Joe's: Continuing to Thrive in 2024
Bowlero and AMF: A Ten-Pin Knockout
Recreational Retail: Store Performance in 2024
Placer.ai White Paper Recap – September 2024
A QSR and Fast-Casual Face-Off
Sam’s Club’s In-Store Retail Media Network Opportunity
The Rising Stars: Six Metro Areas Welcoming Young Professionals
Costco in 2024: A Deep Dive
Sherwin-Williams in 2024: Brighter Than a New Lick of Paint
Life Time and Orangetheory: Premium Fitness Flourishing
C-Stores: More Than A Pit Stop
Darden: Dining Dominance Undeterred 
Placer 100 Index for Retail and Dining: August 2024 Recap
Placer.ai Office Index: August 2024 Recap
Placer.ai Mall Index: August 2024 Recap – Back-To-School In Full Swing
Auto Parts Retailers: The Traffic Continues
Pumpkin Spice Works its Magic Once Again
School Season Sparks Retail Growth
Placer.ai White Paper Recap – July & August 2024
Big Lots’ Big Rightsizing Move in Four Data Points
Fun Away From The Sun: Checking in With Eatertainment
Domestic Migration and Population Growth: Strong Currents Off The Carolina Coast
The Civic Impact of Summer Events
Retail Trends in College Towns: A Back-to-School Snapshot
Five Below and Ollie’s Bargain Outlet: Consumers Still on the Hunt for Discounts
Macy’s & Bloomingdale’s: Into 2024 and Beyond
Limited Time Only: The Trend Continues
Beauty in 2024: Many Ways to Win
Dollar General & Dollar Tree: Powering Ahead in Q2 2024
The Home Depot and Lowe's Foot Traffic Remodel in Q2 2024
Superstore Update: Summer Savings Spree
Placer.ai Mall Index: July 2024 Recap – From Fourth of July to Back-to-School
Placer.ai Office Index: July 2024 Recap
Summer Movie Madness: Blockbuster Films Boost Foot Traffic
Driving Success: Toyota in 2024
Denny’s and IHOP: An All-Day Breakfast Matchup
Warby Parker: Seeing Clearly Now
Planet Fitness at the 2024 Halfway Point
Serving Summer 2024: RBI and Yum! Brands Q2 Foot Traffic
Starbucks, Dutch Bros., Dunkin’: Finding Summer Success
Fast Food and Fast Casual Favorites, Plus CosMc’s Takeoff
Chipotle and Sweetgreen: Fast-Casual in Q2 2024
First Watch, Texas Roadhouse, and Applebee’s: An FSR Roundup
Albertsons Companies: H1 2024 Recap
Teaming Up For Success: Sports Stadium Sponsorships
Limited Time Offers: Price Wars Boost Visits
Placer 100 Index for Retail & Dining: June 2024 Recap
Placer.ai Mall Index: June 2024 Recap
Placer.ai Office Index: June 2024 Recap
Inside Out 2: The New Blockbuster Bringing Crowds Back to Theaters
Petco and PetSmart: A Head to Head
Frozen Delights: Exploring Ice Cream Chains Across America
Placer.ai White Paper Recap – June 2024
Barnes & Noble: Writing a New Story
Small Format Stores - Sprouting, Blooming, and Expanding
Retail and Dining on Father’s Day
Thrift Store Visit Scores
Charting Value Grocery’s Visit Growth
Placer 100 Index for Retail & Dining: Introduction and May 2024 Recap
Digging Into Darden: Q2 2024 Update
2024 Retail and Dining Trends Update
TRU and avid: Midscale Hotels on the Rise 
Diving Into Kroger: A Strong Start to 2024
Placer.ai Mall Index: May 2024 Recap – Mall Visits on the Rebound
Placer.ai Office Index: May 2024 Recap
2024 Memorial Day Recap
Las Vegas: A Tourism and Migration Deep Dive
Eatertainment Chains: Full on Food, Fun, and Foot Traffic
The Promise of Luxury Apparel
Catching Up With Ulta Beauty & Gap Brands
Ollie’s Bargain Outlet and Five Below: Q1 2024 Treasure Troves
CAVA Still Going Strong
Driving Success: Auto Parts Chains in 2024
Checking in With DICK’S Sporting Goods
Mother’s Day Shopping and Dining Trends
Placer.ai Mall Index: April 2024 Recap – Retail Resilience Heading into Spring
Dollar Stores Still Gaining Momentum
Off-Price Apparel Chains After Q1 2024: Demographics in the Balance