Monday, November 12, 2018
TOP STORIES
Investors build large stake in flooring group Victoria
An Atlanta headquartered investment giant has built more than a fifth share in Victoria, the acquisitive floorcoverings giant, after a series of transactions over the past year.
UK sofa importers turn to Italy as China drop-off continues
The turnaround in Italian sofa imports gathered pace in September with the value of goods from the country rising by a third, countering weak figures from elsewhere including China.
Vietnam, Poland, China all send fewer cabinets to UK in September
Britain's three biggest overseas sources of living, dining and bedroom cabinet all exported less to the UK in September with the total for the combined categories slipping 5.0 percent.
Out-of-town best performer in October retail footfall decline
Retail footfall fell in October but edge and out-of-town shopping parks — where many of Britain's residual furniture and flooring stores are sited — near maintained year-earlier levels.
Profits up for regional flooring retailer and wholesaler Calverts Carpets
Regional floorcoverings retailer and wholesaler Calverts Carpets booked higher profits in 2017–18 as its lower cost-of-sales helped counter the impact of a top line decline.
30 more Argos stores to open in Sainsbury's by spring 2019
General merchandise giant Argos, one of Britain's largest retailers of furniture, will have 280 stores inside Sainsbury's supermarkets by the end of its 2018–19 financial year with another 30 units planned over the next six months.
Swedish group exits consumer furniture sector after offloading loss-making sofa maker
Divests Scandinavian upholstery and cabinet business for nominal sum.
Collingwood Batchellor takes two-year net investment spend beyond £4m
Investment brought instant payback for South East furniture and department store retailer Collingwood Batchellor with rising sales and profits ahead of a warehouse refurbishment project that finished this summer.
Far East investor ups TJ Hughes stake, valuing business at £12m
The Hong Kong investment company that bought into British discount department store chain TJ Hughes last year has increased its stake in the company.
Maisons du Monde takes flagship brand to U.S for first time
Maisons du Monde, the French furniture and home accents retailer, is to pilot its core retail brand in the United States with a test store, tapping into the infrastructure of the Modani business it bought in the spring.
Cotswold Co adds Surrey showroom with Harrogate to follow
Furniture retailer The Cotswold Company is continuing to build out its bricks and mortar presence, stretching its footprint north and south with a Yorkshire unit to follow its just-opened Surrey showroom.
John Lewis puts 8-week wait to bed as mattresses boost home sales
Home sales climbed for John Lewis & Partners last week as the department store mutual booked its highest total sales figure for 2018 so far, passing £100 million for the first time this year.
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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Chief executive leads Beales management buyout
Andrew Perloff, owner of Airsprung and AHF, has sold the 21-shop Beales department store chain in a private equity backed management buyout led by chief executive Tony Brown, The Furnishing Report...
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ScS to exit all 27 House of Fraser concessions by the end of January
ScS is to end its partnership with House of Fraser and close all 27 of the concessions it operates within the department store chain with CEO David Knight saying the tie-up is "no longer beneficial."
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Habitat recapitalised with £40m equity injection from Sainsbury's
Retail giant J Sainsbury has signalled its confidence in its furniture and interiors retail business Habitat with an equity injection that transforms its balance sheet and eliminates a large chunk...
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Sofa.com opens House of Fraser concessions as ScS prepares departure
Upholstery retailer Sofa.com has opened concessions in a handful of House of Fraser stores as part of a plan to expand its retail footprint. Its arrival comes as ScS, which operates 27 HoF...
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Magnet owner Nobia to close stores and cut manufacturing jobs
Swedish kitchens conglomerate Nobia, owner of UK retail chain Magnet, says it will close an unspecified number of stores as part of a group-wide plan to save costs and protect profits.
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
OPINION & ANALYSIS
How Digital Services Tax might affect UK furniture sector
There may be a not-so-obvious impact on the furniture industry from the Government's planned Digital Services Tax.
How closing 27 House of Fraser concessions affects ScS business
The five-year partnership between the two businesses is coming to an end.
Italian sofa company's problems come months after owners' $44m China windfall
Sold stake in major Chinese operation at the turn of the year.
Opinion: IKEA's challenged business model
Testing, testing. While the world's biggest furniture retailer tries new things, perhaps the answer lies in acquisitions?
DATA & LISTS
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Debt Report: November 9, 2018
Today's list contains six insolvent companies leaving combined debts of £12,666,755. Names all 26 creditors owed £10,000 or more.
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Furniture industry insolvencies in the week to November 9, 2018
Eleven insolvencies from within the furniture and furnishings industry were announced in the period November 3–9, 2018.
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Debt Report: November 2, 2018
Today's list contains five insolvent companies leaving combined debts of £12,666,755. Names all 85 creditors owed £10,000 or more.
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Corporate insolvency in the seven days to November 2, 2018
Seven insolvencies from within the furniture and furnishings industry were announced in the period October 26–November 2, 2018.
TOP STORIES
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Investors build large stake in flooring group Victoria
An Atlanta headquartered investment giant has built more than a fifth share in Victoria, the acquisitive floorcoverings giant, after a series of transactions over the past year.
-
UK sofa importers turn to Italy as China drop-off continues
The turnaround in Italian sofa imports gathered pace in September with the value of goods from the country rising by a third, countering weak figures from elsewhere including China.
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Fine Bedding Company owner says performance improving after 2017–18 loss
Bedding company Trendsetter Home Furnishings says it has addressed a number of challenges to reverse the impact of "an exceptionally difficult year" during which it booked a seven-figure net loss.
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Rapid growth of bed-in-a-box may be over, says boss of world's biggest bed company
The CEO of Tempur Sealy International — the world's biggest bedding company — says he believes Chinese imports may be hitting bed-in-a-box companies harder than other mattress segments, harming their growth potential.
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Maisons du Monde 'not worried at all' regarding Debenhams closures
The CEO of Maisons du Monde says she is not concerned regarding potential store closures at UK department store chain Debenhams, where it has opened instore studios this year.
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Curse of Sparkhill strikes another mattress company
At least four bed makers — all registered to the same Birmingham address — have entered insolvency proceedings in the past six years.
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Victoria scraps bond and boss hits out at 'outrageous untruths'
Victoria, the acquisitive flooring supply group, has walked back refinancing plans announced last week with chairman Geoff Wilding criticising onlookers whose "motives are less than pure."
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Oldrids/Downtown turnaround delivers cost savings amid big-ticket weakening
Big-ticket sales dwindled at privately-owned stores group Oldrid & Co. in the year to to January 27, 2018 as the department, furniture, home and garden store business continued to implement its turnaround plan.
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Dunelm finds new Fogarty makers after legacy manufacturer's collapse
Dunelm's multi-million pound investment in the historic Fogarty brand is secure despite the collapse of the legacy Lincolnshire manufacturer that produced filled bedding under the label for the national retail chain.
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Upholstery retailer cools talk of concession tie-up with Debenhams
Follows agreement with rival department store chain.
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OTHER NEWS
Vietnam, Poland, China all send fewer cabinets to UK in September
Britain's three biggest overseas sources of living, dining and bedroom cabinet all exported less to the UK in September with the total for the combined categories slipping 5.0 percent.
Out-of-town best performer in October retail footfall decline
Retail footfall fell in October but edge and out-of-town shopping parks — where many of Britain's residual furniture and flooring stores are sited — near maintained year-earlier levels.
Profits up for regional flooring retailer and wholesaler Calverts Carpets
Regional floorcoverings retailer and wholesaler Calverts Carpets booked higher profits in 2017–18 as its lower cost-of-sales helped counter the impact of a top line decline.
30 more Argos stores to open in Sainsbury's by spring 2019
General merchandise giant Argos, one of Britain's largest retailers of furniture, will have 280 stores inside Sainsbury's supermarkets by the end of its 2018–19 financial year with another 30 units planned over the next six months.
Swedish group exits consumer furniture sector after offloading loss-making sofa maker
Divests Scandinavian upholstery and cabinet business for nominal sum.
IKEA, Loaf logistics partner grows profits
Half-year profits jumped for Wincanton with the logistics business citing the growing impact of ecommerce and the success of its business in the home and DIY retail segments.
Howdens shrugs off tough market with volume growth
Howden Joinery Group, which sells kitchens to consumers via small builders and installers, likely gained market share in summer/autumn trading as sales climbed.
Registration now live for London Fabric 2019
Visitors can now signal their interest in attending the BFM-organised London Fabric trade event next spring following the launch of the pre-registration process online.
Collingwood Batchellor takes two-year net investment spend beyond £4m
Investment brought instant payback for South East furniture and department store retailer Collingwood Batchellor with rising sales and profits ahead of a warehouse refurbishment project that finished this summer.
Far East investor ups TJ Hughes stake, valuing business at £12m
The Hong Kong investment company that bought into British discount department store chain TJ Hughes last year has increased its stake in the company.