Will Wal-Mart have last laugh?

When I think about how dramatically the furniture business has changed in the past three or four years, I have to conclude the only conventional wisdom remaining in this business is unconventional.

Not that long ago, if you had told people in this business that manufacturers also would become retailers, and that retailers, as part of their sourcing strategies, essentially would become manufacturers, you probably would have been laughed out of town.

Similarly, if you had suggested the biggest chunk of case goods would be coming from Asia, you would have been invited in for sweet tea, obviously having been out in the sun far too long.

But what surely would have raised the most eyebrows would have been a prediction that Wal-Mart, the beast of Bentonville, would rack up more dollars from furniture and bedding than any traditional U.S. furniture retailer.

Having said that, I wonder if you've checked out Wal-Mart's furniture department lately. If not, you should. Make it a point to visit one of their supercenters. When I did, I saw aisles and aisles of furniture — home office, home entertainment, bedroom, casual dining, upholstered goods and even some leather furniture.

Granted, you won't find a ton of better goods, but you will find tons of popularly priced furniture, rugs, lamps and accessories.

If you want better goods, such as a Simmons HealthSmart Exceptionale Extravagance Mattress Set, selling for $2,898, or the Virginia Highlands Sonoma Sleigh seven-piece bedroom suite, tagged at $1,859, you have to go to Wal-Mart's Web site. That's where you also will find the Softaly Bari Leather Sofa and Love Seat. Wal-Mart says the set, which features nailhead detailing, is made of top-grain Italian leather. It's yours for $1,546.

Wal-Mart as a serious competitor? Some still may snicker at the thought. The boys in Bentonville are probably doing more. They probably are laughing all the way to the bank.