Mathis said the retailer wasn’t looking to sell, but got an offer it couldn’t pass up from investors in a proposed development. The company had planned on building a 312,000-square-foot complex in Dallas on land it owned at Interstates 35 and 635, but has since sold the property. Meanwhile, the retailer has pushed back its previously announced plan to enter the Dallas market. That project is expected to be completed late this summer, Mathis said. After opening the Tulsa superstore in early 2002, Mathis began work last year on a 100,000-square-foot expansion of it Indio, Calif., store, which will push the size of the warehouse and showroom sections to about 100,000 square feet each. The Evans acquisition is the latest in a series of aggressive expansion moves by Mathis Bros. There are vendor overlaps between the two chains, but Mathis said, “We are early on a lot of those things,” and that details on vendor structure going forward have not been ironed out.Īmong the overlapping suppliers, according to the retailers’ Web sites, are Bernhardt and Lane. He said the Mathis and Evans families were longtime friends, and that the two came to terms that satisfied all parties in roughly a month’s time. He would not disclose the company’s market share but said it was well over 50% in both cities even before the acquisition. Mathis said the deal enhances Mathis Bros.’ position as the dominant home furnishings retailer in both Oklahoma markets. A 2002 Chain Store Guide directory estimated Evans’ sales for the fiscal year ended April 30, 2001, at $29 million. Mathis wouldn’t disclose sales or projected sales for Evans, but said Mathis is confident in its ability to grow the business.Įvans, founded in the 1930s, has not been listed in the Top 100 since 1995 with estimated 1994 sales of $48 million. Last year, Mathis did an estimated $201.5 million in furniture, bedding and accessories sales, up 18.7% from 2001, placing it No. in Indio, Calif.īoth Mathis and Evans are broad-based retailers with price spectrums ranging from promotional to high-end. Mathis also operates a Factory Direct store in Tulsa and a Mathis Bros.
Evans’ Tulsa store is on the north end of the city, about 10 miles from Mathis Bros.’ 205,000-square-foot superstore and warehouse complex, which opened on the south side in January 2002.
With the buy, Mathis now operates five stores under five names in Oklahoma City - Mathis Bros., Evans, Thomasville Home Furnishings, Drexel Heritage Home Inspirations and Factory Direct Furniture & Beds.
Larry and Mike Evans could not be reached for comment.
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