Wednesday, October 20, 2021
Leekes' revenue rebounds strongly as profits continue ascent
Profits more than doubled at home department store retailer Leekes in 2020/21 and have made further double-digit gains since as revenue recovers.
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Recruitment drive at Bensons for Beds as it looks to fill 180 roles nationwide
Bensons for Beds is looking to hire about 180 people across its nationwide retail, distribution and manufacturing network while its new store rollout continues this week with an opening in a former Laura Ashley unit.
Furniture Village returns to 54 stores with new Sheffield unit
National retailer Furniture Village will officially open the doors to its new store at Sheffield this weekend, returning its estate to 54 branches across England.
Carpet import growth cooled at height of summer
The value of carpets and rugs imported into the U.K. continued to rise in August according to new figures, but at a much shallower incline than in the preceding seven months.
Duvalay and Harrison Spinks chairman gain recognition at regional business awards
The achievements of Harrison Spinks chairman Simon Spinks and West Yorkshire bed maker Duvalay were among those from the industry recognised at the Yorkshire Business Masters 2021 awards last week.
Investment group acquires majority stake in Julian Bowen
Shareholders in furniture wholesaler Julian Bowen have sold a qualified majority stake to Storskogen, a Swedish investment group that backs dozens of small and medium sized enterprises.
More than 60% of upholstery group's sales through two largest customers last year
New figures from upholstery group TCM Living show its two largest retail customers—both major furniture chains—were responsible for 61.4 percent of its £100 million plus turnover through 2020.
Flooring distributor settled £15m debt facility as part of spring takeover
The new owner of Carpet & Flooring (C&F) settled all outstanding debt as part of the buyout of the 11-depot floorcoverings distributor earlier this year.
Profits jump for Northern Ireland upholstery, beds retailer
The company behind the Sofatime chain of upholstery stores and Dreams bed shops in Northern Ireland posted higher profits as it managed to maintain sales through 2020/21.
Online growth lifts profits at furniture supplier Actona
Profits climbed at Danish furniture designer, wholesaler and distributor Actona Group in 2020/21 as it enjoyed a revenue boost from ecommerce channels.
Watchdog upholds TV mattress advert complaint
The Advertising Standards Authority (ASA) has ruled a half-price TV mattress advert as misleading after a challenge from a single, unspecified complainant.
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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Big-ticket goods bore brunt of shipping problems says Next, but outlook brighter
International supply chains are steadily improving according to general merchandise retailer Next, one of the U.K.'s largest retailers of furniture, but it said big-ticket goods were the categories...
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Westbridge growing with other retailers, brands after exiting IKEA business
Walking away from tens of millions of pounds worth of business with IKEA was a bold move but Westbridge is finding new custom elsewhere, with both emerging and longstanding customers.
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Local management to run Tetrad following Janus Cooper exit
Existing local managers will oversee the business of iconic sofa brand Tetrad after the departure of its longtime md and former owner Janus Cooper, its parent company Belfield has said.
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Dreams profits higher than Tempur Sealy indicated when deal announced
Accounts for Dreams will show a bigger jump in profits than that originally signposted by Tempur Sealy International when the world's largest bedding company announced it was buying the national bed...
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HSL proves resilient as customer base buffeted by pandemic
Management actions buttressed liquidity and profits at national furniture retailer HSL in 2020 as its customer base was impacted by Covid-19 to a greater extent than other demographics.
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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The Debt Report: Filings in the week to October 15, 2021
Four companies left debts of £1.7 million with 16 entities owed £10,000 or more.
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The Insolvency Report: Filings in the week to October 15, 2021
Three insolvencies from within the furniture and furnishings industry were announced in the seven days to October 15, 2021.
TOP STORIES
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Leekes' revenue rebounds strongly as profits continue ascent
Profits more than doubled at home department store retailer Leekes in 2020/21 and have made further double-digit gains since as revenue recovers.
-
Sofa imports rise despite tough comps
Upholstered furniture shipments continued to rise strongly at the height of summer despite lapping robust figures recorded in the aftermath of the first Covid lockdown.
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Furniture retailers, importers placed huge orders before Vietnam shutdown
The effects of late summer Covid-related factory shutdowns in Vietnam are yet to show in official data. Instead, they reveal the impact of huge living, dining and bedroom cabinet orders placed before those plants were mothballed.
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Cox & Cox launches first TV ad campaign amid bumper profits
Internet furniture and homeware retailer Cox & Cox has launched its first ever television advertising campaign against a backdrop of record financial performance for the ecommerce business.
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Jonathan Hirst to succeed Mike Logue as Dreams CEO
Mike Logue is stepping down as chief executive at Dreams, the U.K.'s largest beds retailer. He will be succeeded by Jonathan Hirst, its chief operating officer since 2017.
OTHER NEWS
Recruitment drive at Bensons for Beds as it looks to fill 180 roles nationwide
Bensons for Beds is looking to hire about 180 people across its nationwide retail, distribution and manufacturing network while its new store rollout continues this week with an opening in a former Laura Ashley unit.
Furniture Village returns to 54 stores with new Sheffield unit
National retailer Furniture Village will officially open the doors to its new store at Sheffield this weekend, returning its estate to 54 branches across England.
Carpet import growth cooled at height of summer
The value of carpets and rugs imported into the U.K. continued to rise in August according to new figures, but at a much shallower incline than in the preceding seven months.
Duvalay and Harrison Spinks chairman gain recognition at regional business awards
The achievements of Harrison Spinks chairman Simon Spinks and West Yorkshire bed maker Duvalay were among those from the industry recognised at the Yorkshire Business Masters 2021 awards last week.
Investment group acquires majority stake in Julian Bowen
Shareholders in furniture wholesaler Julian Bowen have sold a qualified majority stake to Storskogen, a Swedish investment group that backs dozens of small and medium sized enterprises.
More than 60% of upholstery group's sales through two largest customers last year
New figures from upholstery group TCM Living show its two largest retail customers—both major furniture chains—were responsible for 61.4 percent of its £100 million plus turnover through 2020.
Flooring distributor settled £15m debt facility as part of spring takeover
The new owner of Carpet & Flooring (C&F) settled all outstanding debt as part of the buyout of the 11-depot floorcoverings distributor earlier this year.
Profits jump for Northern Ireland upholstery, beds retailer
The company behind the Sofatime chain of upholstery stores and Dreams bed shops in Northern Ireland posted higher profits as it managed to maintain sales through 2020/21.
Online growth lifts profits at furniture supplier Actona
Profits climbed at Danish furniture designer, wholesaler and distributor Actona Group in 2020/21 as it enjoyed a revenue boost from ecommerce channels.
Watchdog upholds TV mattress advert complaint
The Advertising Standards Authority (ASA) has ruled a half-price TV mattress advert as misleading after a challenge from a single, unspecified complainant.