Norton, MA, June 3, 2003 — Bernie & Phyl’s Furniture, one of the fastest growing furniture retailers in the country with six stores in Massachusetts and New Hampshire, has made the list of Top 100 U.S. Furniture Stores for the fourth year in a row. The exclusive list is compiled by Furniture/Today, the industry’s leading trade publication. Bernie & Phyl’s Furniture has moved up the list to number 74 with $76.7 million in sales for the year 2002, representing a 13.3 percent increase in sales over the previous year. The company was number 82 on the list last year with $67.7 million in sales. Bernie & Phyl’s Furniture holds the top ranking of the only two Massachusetts-based retailers to make the prestigious list.

Bernie & Phyl’s Furniture also made Furniture/Today’s Top 10 lists in the important “sales per square foot” category and “average stock turns” category. The retailer was number five in the category of sales per square foot (up from number eight last year) and number eight in the average stock turns category.

“Last year was another extraordinary year for our company. It is always an honor to be included in these prestigious Top 100 and Top 10 lists, and to have moved so far up the list from four years ago when we debuted at number 100,” said Bernie Rubin, president and co-founder of Bernie & Phyl’s Furniture. “We are serious about serving our customers at the highest level and continuing to grow our company, and this recognition tells us we are heading in the right direction.”

Started by the Rubin family in 1983, Bernie & Phyl’s Furniture has grown from a small storefront into one of the largest independent furniture retailers in New England. With a focus on quality furniture at great prices, the family-run business has created a highly successful niche in a very competitive marketplace. The company’s compounded annual growth rate has been 27 percent over the past five years.

Bernie & Phyl’s Furniture is already looking ahead to future growth. In April 2003, the company broke ground on phase two of its Nashua superstore, which will add an additional 46,000 square feet of retail space to its now 40,000 square foot store (completed in November 2002). When finished later this year, the 86,000 square foot Nashua superstore will be the largest in the retailer’s chain. In 2002, the company added 47,000 square feet to its now 200,000 square foot distribution center and increased the size of its corporate offices, both of which are in Norton, MA. The new space provides the infrastructure the company needs to nearly double its sales capacity. In addition, Bernie & Phyl’s Furniture is actively searching for additional “superstore” locations in New England to continue its fast-track growth.

Bernie & Phyl’s Furniture is the largest independent furniture retailer in Massachusetts. Based in Norton, MA, the company has five Massachusetts stores in Cambridge, Everett, Saugus (50,000 square foot superstore opened in 1999), Westboro (42,000 square foot superstore opened in 1997), and Weymouth and one superstore in Nashua, NH. Bernie & Phyl’s Furniture currently employs over 350 people. In 2002, Bernie & Phyl’s Furniture was named “2002 Retailer of the Year” by the National Home Furnishings Association (NHFA), which is the highest honor in the retail home furnishings industry. In 2000, Bernie & Phyl’s Furniture was named “2000 Retailer of the Year” by the Retailers Association of Massachusetts.