Thursday, May 26, 2022
Marks & Spencer looks to edge-of-town retail parks and online to drive home spend
Marks and Spencer's store network is delivering 25 percent less revenue across clothing and home categories compared to four years ago. Online is making up the shortfall, it says, along with a move away from urban high streets.
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Bed maker Sleepeezee to use locally-sourced Romney Marsh Wools
Kent bed maker Sleepeezee says nearby Romney Marsh Wools is its new supplier of wool, and will be the provider for all mattresses containing wool material.
Incoming chairman acquired shares in transaction that uprates bedding company valuation
Former Debenhams and New Look executive holds shares in direct-to-consumer bedding brand following spring 2022 transaction that uprates the company valuation.
Furniture industry fintech partner to lay off 10% of workforce
More than 7,000 Klarna employees worldwide have been told that 10 percent of them are to be impacted by a programme of redundancies as the fintech company grapples with worsening consumer demand impacting its retail customers.
High-end furniture design and build business rebrands, relocates after restructure
Surrey furniture maker moves to South Coast and rebrands while its predecessor operating company was placed into administration earlier this week.
Profits lift-off for Batley bed maker Apollo
Net profits more than doubled for the second straight year for West Yorkshire mattress manufacturer Apollo Beds through 2020/21.
Carpet maker finds gross margin and cost savings to counter falling sales
Cost cutting and a five percentage point improvement in gross margin lifts Wiltshire carpet group back into profit after a circa £300,000 bottom line turnaround.
Owner of ecommerce brands Houseology and Olivia's acquires digital marketing agency
The company behind the Houseology and Olivia's furniture and interiors brands has expanded again with the acquisition of a digital marketing agency.
NBF opens registration for 2022 Bed Show
The National Bed Federation (NBF) says it expects to attract more than 1,500 visitors to the 2022 Bed Show, with online registration now open ahead of the autumn event.
Founder retains stake following Julian Bowen disposal last year
Majority position in East Midlands furniture wholesaler was sold to the Swedish investor Storskogen Group last year.
Investment fund reshuffles foam company interests
Benelux investment fund chaired by floorcoverings manufacturing scion reallocates shareholdings to newly-created holding company.
INTELLIGENCE
Market Data
Detailed market information about each of the Upholstery, Beds, Cabinet Furniture and Floorcoverings sectors at suppliers' prices.
Discover the up-to-date value of:
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UK production
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Imports
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Exports
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Key Trading Partners
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Total UK market size
BEST READ IN THE PAST MONTH
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Made.com acquires online platform that champions independent brands
Online-led furniture retailer Made.com has acquired Trouva, an ecommerce platform that offers a curated range of homewares, lifestyle and fashion products.
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Ashley Manor, Alstons owner hires new CFO from outside sofa industry
David Roberts has been named chief financial officer at TCM Living, the upholstery group that owns Ashley Manor, Alexander & James, Alstons and AMX Design.
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Diligent cost control helped La-Z-Boy protect U.K. margins
The U.K. and Ireland distribution arm of global motion furniture giant La-Z-Boy found cost savings in the early stages of trading through a market upended by Covid restrictions.
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Bed maker Relyon says consistent and reliable service yielded results
The managing director of the business behind the historic Relyon and Dunlopillo brands says growth with independent customers was a standout as it laid down a marker in the first period since its...
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Furniture holding company takes 25% stake in flatpack cabinet maker
A U.K. ready-to-assemble cabinet furniture manufacturer that has supplied the likes of Argos for many years has divested 25 percent of the business to an East of England group with an expanding...
INTELLIGENCE
Retail Sales
Up-to-date monthly UK retail sales data spanning total furniture and lighting sales PLUS detailed breakdowns for each of the Upholstery, Beds, Cabinet Furniture and Floorcoverings sectors.
Proprietary granular data covering:
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UK retail sales value and y/y delta. Monthly and annual
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Breakdown by product category
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Historical data
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Monthly and annual figures
DATA & LISTS
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Deals: As forecast, the Sofa Workshop brand will not die
Historic retailer ceased trading at the end of March, but as we reported at the time, there are more chapters to be written.
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Investment signposts connection to Oak Furnitureland founder
New structure for Hertfordshire headquartered furniture wholesale and retail company.
TOP STORIES
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Marks & Spencer looks to edge-of-town retail parks and online to drive home spend
Marks and Spencer's store network is delivering 25 percent less revenue across clothing and home categories compared to four years ago. Online is making up the shortfall, it says, along with a move away from urban high streets.
-
Edward Tadros steps down as Ercol Furniture chairman after 29 years
Henry Tadros will take over as chairman at heritage furniture maker Ercol [ercol] this summer, the Princes Risborough manufacturer has announced. He succeeds his father, Edward Tadros.
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Sofa Workshop had near £1m a month funding requirement to carry on trading
Fallen upholstery retailer Sofa Workshop sustained losses of £5.5 million last year and would have needed even more than that in funding to see out the remainder of 2022, had the plug not been pulled.
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Dunelm shares sink to two-year low
Shares in home and furniture retailer Dunelm closed at their lowest level in over two years on Tuesday on what proved the busiest day of trading in the stock for more than a year.
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Oak furniture retailer, wholesaler relinquishes equity as part of external investment
An online cabinet furniture retailer and wholesaler that booked seven-figure profits in its last financial year has secured external investment into the business.
OTHER NEWS
Bed maker Sleepeezee to use locally-sourced Romney Marsh Wools
Kent bed maker Sleepeezee says nearby Romney Marsh Wools is its new supplier of wool, and will be the provider for all mattresses containing wool material.
Incoming chairman acquired shares in transaction that uprates bedding company valuation
Former Debenhams and New Look executive holds shares in direct-to-consumer bedding brand following spring 2022 transaction that uprates the company valuation.
Furniture industry fintech partner to lay off 10% of workforce
More than 7,000 Klarna employees worldwide have been told that 10 percent of them are to be impacted by a programme of redundancies as the fintech company grapples with worsening consumer demand impacting its retail customers.
High-end furniture design and build business rebrands, relocates after restructure
Surrey furniture maker moves to South Coast and rebrands while its predecessor operating company was placed into administration earlier this week.
Profits lift-off for Batley bed maker Apollo
Net profits more than doubled for the second straight year for West Yorkshire mattress manufacturer Apollo Beds through 2020/21.
Carpet maker finds gross margin and cost savings to counter falling sales
Cost cutting and a five percentage point improvement in gross margin lifts Wiltshire carpet group back into profit after a circa £300,000 bottom line turnaround.
Owner of ecommerce brands Houseology and Olivia's acquires digital marketing agency
The company behind the Houseology and Olivia's furniture and interiors brands has expanded again with the acquisition of a digital marketing agency.
NBF opens registration for 2022 Bed Show
The National Bed Federation (NBF) says it expects to attract more than 1,500 visitors to the 2022 Bed Show, with online registration now open ahead of the autumn event.
Founder retains stake following Julian Bowen disposal last year
Majority position in East Midlands furniture wholesaler was sold to the Swedish investor Storskogen Group last year.
Investment fund reshuffles foam company interests
Benelux investment fund chaired by floorcoverings manufacturing scion reallocates shareholdings to newly-created holding company.