Tuesday, May 21, 2019
TOP STORIES
Deal close for Skandium assets including IP, stock
The future of the Scandinavian design and furniture retail brand Skandium, whose stores closed earlier this month, could be resolved this week with administrators negotiating a sale of assets.
Jay-Be doubles profits after sharp rise in sales
Revenue jumped more than a fifth for the Yorkshire company behind guest bed maker Jay-Be in 2017–18, a year where margins widened and profits doubled.
Vispring md Jim Gerety brings international perspective to NBF executive board
Jim Gerety, md at high end Devon bed maker Vispring, has been elected to the executive board of the National Bed Federation (NBF), the trade association whose members have a 70 percent U.K. market share.
Mattress maker Mlily makes big first quarter sales gain
The march of Chinese mattress maker Mlily continued at the start of 2019 with its parent company posting high first quarter revenue and profits growth.
Sales, profits climb for Merseyside furniture maker
Knowsley furniture maker and wholesaler Dams posted double-digit profits growth on higher sales in 2017–18, a year that saw it start building a new upholstery facility.
Stock clearance underway as historic store prepares permanent closure
Department store retailer and bed shop owner Tudor Williams has begun the last throes at its historic New Malden store as it prepares to draw the curtain on over 100 years of trade. Its other stores are unaffected.
Tariffs prompt sales hike for Malaysian furniture maker but U.K. sales down
One of Malaysia's largest furniture suppliers says it has seen a surge in demand from U.S. companies seeking to avoid the impact of tariffs imposed on Chinese furniture. U.K. sales were down.
Furniture retailer Made.com opens Swedish showroom as part of Nordic launch
Made.com Design has opened its first Scandinavian showroom as the build out of its international brand presence sees it push into Nordic markets for the first time.
Profits dip at upmarket 32-store kitchens chain
Trade was weaker than previous years at prestige kitchen maker and retailer Harvey Jones in 2018 though the company enjoyed stronger cash generation.
Tempur Sealy acquired European bed maker this spring
Bedding conglomerate Tempur Sealy International bolstered its European manufacturing credentials with the acquisition of a circa €10 million manufacturer producing out of the Baltic region earlier this spring.
Chinese supplier faces six-figure shortfall after small North West company liquidates
A Chinese supplier with longstanding U.K. supply links may bear the brunt of the creditor shortfall after a small privately-owned wholesaler and retailer was placed into liquidation last month.
Online furniture retailer with strong U.K. bond sold to French store giant
High-end designer furniture etailer Made in Design has been sold to French department store group Printemps, providing an exit for its private equity backer.
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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Time4Sleep ramps up capacity and delivery capability with £3.5m Midlands DC
West Yorkshire beds retailer Time4Sleep has invested £3.5 million on a Midlands warehouse that will enable it to deliver faster and hold greater quantities of stock.
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New mattress brand listings drive expansion of Next marketplace offer
General merchandise retail giant Next added big-name mattress brands to its marketplace offer in the past quarter as it listed another 40 new home brands in all.
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Sofa maker confident police investigation will conclude no wrongdoing
The directors of a privately-owned British furniture manufacturer say they are convinced a police investigation into alleged modern day slavery offences will absolve the company of any wrongdoing.
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Tempur brand widens European distribution with 100 store deal
Tempur Sealy International, the world's biggest bed company, is to extend the European distribution network of its Tempur brand after reaching a sales agreement with Beter Bed Holdings.
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Bullish Victoria ready to buy out more companies
Carpet and flooring distributor Victoria says it is "well placed for organic and acquisition-led growth" after giving its finances and trading performance a clean bill of health.
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
All rise for the bed evangelists
"Early to bed, early to rise — work like hell and advertise," is a modern day business adaptation of a centuries old proverb originally intended to advocate the benefits of rest.
Loss leaders: The bottom line is not the only measure of company strength
Sales are vanity, profit is sanity, cash is reality. You will, of course, have heard that before, probably many times.
Nine words deliver £40m boost for Carpetright
In the words of CEO Wilf Walsh, it has been a "transitional year" for Carpetright, the UK's largest retailer of carpets and other floorcoverings.
Eve Sleep looks to rewrite history with latest senior hire
James Sturrock, the boss of mattress vendor Eve Sleep since last September, said yesterday's appointment of Tim Parfitt as CFO completes the new management line-up.
DATA & LISTS
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Debt Report: Who's owed what by insolvent furniture industry companies — May 17, 2019
Today's list contains 14 insolvent companies leaving combined debts of £3.3 million. Names all 60+ creditors owed £10,000 or more.
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Corporate Insolvency: liquidations announced between May 11–17, 2019
Three insolvencies from within the furniture and furnishings industry were announced in the period May 11–17, 2019.
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The 30 wealthiest in the home furnishings sector: 2019
The richest 30 people and families with links to the U.K. home furnishings sector, either directly or through investments.
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Debt Report: Who's owed what by insolvent furniture industry companies — May 10, 2019
Today's list contains 13 insolvent companies leaving combined debts of £7.4 million. Names all 80+ creditors owed £10,000 or more.
TOP STORIES
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Deal close for Skandium assets including IP, stock
The future of the Scandinavian design and furniture retail brand Skandium, whose stores closed earlier this month, could be resolved this week with administrators negotiating a sale of assets.
-
Jay-Be doubles profits after sharp rise in sales
Revenue jumped more than a fifth for the Yorkshire company behind guest bed maker Jay-Be in 2017–18, a year where margins widened and profits doubled.
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Ex Shop Direct head of furniture buying takes upholstery role at Oak Furnitureland
JB Global, the company behind the Oak Furnitureland chain, has bolstered its expanding product development team with the appointment of Emma Rackley, formerly of Shop Direct, Furniture Village and Leekes.
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Furniture companies risk losing access to training providers
The chairman of the Furniture and Interiors Education, Skills and Training Alliance (FIESTA) says large furniture companies "need to wake up" or face a looming skills crisis.
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U.K. bed makers make social, ethical compliance mandatory to NBF membership
Britain's leading bed manufacturers have voted unanimously to further tighten the National Bed Federation's (NBF) membership criteria to raise standards and put more distance between themselves and rogue operators.
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Heal's gives up detail of profits turnaround
Designer furniture and homeware retailer Heal's has fleshed out details of its 2017–18 profits turnaround, which shows it found a number of cost savings in addition to posting higher sales.
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Wider margin boosts Alstons, Ashley Manor owner's sofa profits in Q1
Upholstery profits almost doubled for the Thai owner of the Alstons, Ashley Manor and Alexander & James businesses in the first quarter of 2019 despite it booking lower combined sales.
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Italian designer furniture company books U.K. profit on revenue hike
Higher revenue helped the British arm of Italian designer furniture group Poltrona Frau swing to profit in 2018.
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Ekornes takeover has transformative effect on Chinese owner
The acquisition of Stressless brand owner Ekornes by Qumei Home Furnishings Group Co. has more than doubled the size of the China-based furniture maker, new figures reveal.
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Newco poised as motion furniture maker liquidates
Insolvency event is the latest in series of appointments for officials connected to the manufacturer and retailer.
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OTHER NEWS
Vispring md Jim Gerety brings international perspective to NBF executive board
Jim Gerety, md at high end Devon bed maker Vispring, has been elected to the executive board of the National Bed Federation (NBF), the trade association whose members have a 70 percent U.K. market share.
Sterling's David Amery named president of furniture trade charity
Well-known Sterling Furniture buyer David Amery has become president of the Scottish Furniture Trades Benevolent Association (SFTBA), the industry charity.
Mattress maker Mlily makes big first quarter sales gain
The march of Chinese mattress maker Mlily continued at the start of 2019 with its parent company posting high first quarter revenue and profits growth.
Sales, profits climb for Merseyside furniture maker
Knowsley furniture maker and wholesaler Dams posted double-digit profits growth on higher sales in 2017–18, a year that saw it start building a new upholstery facility.
Designer Contracts pledges £100,000 to local hospice
Designer Contracts, the national floorcoverings contractor, is to donate £100,000 to support a hospice close to its Chesterfield, Derbyshire headquarters.
Stock clearance underway as historic store prepares permanent closure
Department store retailer and bed shop owner Tudor Williams has begun the last throes at its historic New Malden store as it prepares to draw the curtain on over 100 years of trade. Its other stores are unaffected.
Tariffs prompt sales hike for Malaysian furniture maker but U.K. sales down
One of Malaysia's largest furniture suppliers says it has seen a surge in demand from U.S. companies seeking to avoid the impact of tariffs imposed on Chinese furniture. U.K. sales were down.
Furniture retailer Made.com opens Swedish showroom as part of Nordic launch
Made.com Design has opened its first Scandinavian showroom as the build out of its international brand presence sees it push into Nordic markets for the first time.
Profits dip at upmarket 32-store kitchens chain
Trade was weaker than previous years at prestige kitchen maker and retailer Harvey Jones in 2018 though the company enjoyed stronger cash generation.
Tempur Sealy acquired European bed maker this spring
Bedding conglomerate Tempur Sealy International bolstered its European manufacturing credentials with the acquisition of a circa €10 million manufacturer producing out of the Baltic region earlier this spring.