Report: Ashley Furniture plans to open 300 small stores

Milwaukee Ashley Furniture plans to open 300 small-concept franchise stores this year, according to the Milwaukee Journal Sentinel.

The stores will offer furniture at a single price -- for example, all sofas for $399, rugs for $99, or five-piece dining room sets for $399, the report said.

Ashley unveiled its 5,000-sq.-ft. low-price store model at the Furniture Market in Las Vegas this week.

Ashley hasn't announced a name for the new chain yet, but the first prototype has opened in 3,800 sq. ft. of space in a mall in Pottstown, Pa.

Ashley Furniture Homestores, the company's franchise chain of large-format stores, had 390 locations at the end of 2008.