Tuesday, December 11, 2018
TOP STORIES
Competition watchdog probes Headlam's South East flooring takeovers
Wholesale giant Headlam Group says it is "engaging fully" with the Competition and Markets Authority after the watchdog said it was investigating the company's already-completed takeovers of three South East floorcoverings distributors.
John Lewis md opens Harrison Spinks new Innovation Centre
John Lewis & Partners managing director Paula Nickolds was guest of honour as bed manufacturer Harrison Spinks officially opened its new £2.5 million Innovation Centre at its Leeds headquarters last Friday.
Carpetright books half year loss amid downsizing
Carpetright, Britain's biggest carpets and flooring retailer, booked a £12 million net loss for the six months to October 27 during which it closed stores and deleveraged.
Wider gross margin, lower costs boost Sweet Dreams
Profits at Burnley bed manufacturer Sweet Dreams advanced as wider gross margin helped counter the impact of lower turnover in the year to March 31, 2018.
La-Z-Boy UK pitches itself as whole home furniture source
Furniture distributor La-Z-Boy UK will add occasional furniture and dining sets as it diversifies its product offer further at next month's January Furniture Show at the NEC in Birmingham.
Far East sofa maker agrees $100m term loan
New facility for Hong Kong listed Man Wah.
Leekes says big home projects in demand in 2018–19
Leekes says kitchens, bathrooms and conservatories have been winning categories for the home department store retailer in the first half of its 2018–19 financial year.
Tapi Carpets concessions to open inside Homebase stores
Flooring retailer Tapi Carpets has signed a concession partnership with Homebase that will see it open instore units across the home improvement chain's estate.
3.2% fewer people ventured into shops in November
Retail footfall declined in November with all three types of destination — high streets, retail parks and shopping centres — seeing fewer people than they did in the same month last year.
Worth less, but not worthless. Sofa.com has shed some of its problems
Sofa.com's headline numbers for 2017–18 are less than impressive but there are mitigating factors and reasons to believe its new owner is not watering a dead plant.
Palmers' freeholds sold prior to Beales takeover
Multi-million pound property deal preceded Beales lease assignment.
Nathan consolidates all production at Far East maker of its Shades range
Heritage brand Nathan has moved all furniture production and finishing to the Indonesian factory that has been manufacturing its entire Shades collection since 2011.
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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Nearly 1 in 20 IKEA employees worldwide face redundancy risk
IKEA, the world's biggest home furnishings retailer, says it plans to restructure its business in order to adjust to "never seen before" changes that are rapidly transforming the global retail sector.
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AHF faced competition for Nasons furniture store and IP
Furniture and flooring chain AHF was one of several interested parties in taking over either the Nasons furniture store in Canterbury or its brand, according to administrator Kreston Reeves.
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Mattress Firm exits Chapter 11 having closed 660 stores, stabilised finances
Mattress Firm, the largest bedding retailer in the U.S and a key cog in the Steinhoff International Holdings network, has emerged from Chapter 11 having completed its reorganisation plan.
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Dreams owner explores bond issue to fund £155m dividend
Private equity firm Sun Capital is proposing a bond issue as a means of extracting some of the latent value in Dreams, the beds retail business it has owned since 2013.
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Wesley Barrell shuts Guildford showroom while it squares issues with landlord
Premium upholstery retailer Wesley Barrell has temporarily closed one of its showrooms while it resolves property maintenance concerns with the store landlord.
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
Worth less, but not worthless. Sofa.com has shed some of its problems
Sofa.com's headline numbers for 2017–18 are less than impressive but there are mitigating factors and reasons to believe its new owner is not watering a dead plant.
Perspective: Why independent furniture retailers have a bright future — Cookes md
James Pike on the future for Cookes and other multi-generational independent retailers.
Analysis: Charting John Lewis' most important week of the year
Sales at department store retailer John Lewis & Partners topped £230 million last week, which included Black Friday, making it the highest grossing week in its 154-year history.
Nasons might have been one of Britain's best retailers. It still might.
"From July, Nasons will have its own website," the independent retailer wrote in accounts filed 13 long years ago.
DATA & LISTS
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Debt Report: December 10, 2018
Today's list contains five insolvent companies leaving combined debts of £1,368.598. Names all 20 creditors owed £10,000 or more.
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Industry insolvencies in the seven days to December 9, 2018
Five insolvencies from within the furniture and furnishings industry were announced in the period December 1–9, 2018.
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Corporate insolvency in the seven days to November 30, 2018
Eight insolvencies from within the furniture and furnishings industry were announced in the period November 24–30, 2018.
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Debt Report: November 30, 2018
Today's list contains seven insolvent companies leaving combined debts of £922,598. Names all 15 creditors owed £10,000 or more.
TOP STORIES
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Competition watchdog probes Headlam's South East flooring takeovers
Wholesale giant Headlam Group says it is "engaging fully" with the Competition and Markets Authority after the watchdog said it was investigating the company's already-completed takeovers of three South East floorcoverings distributors.
-
John Lewis md opens Harrison Spinks new Innovation Centre
John Lewis & Partners managing director Paula Nickolds was guest of honour as bed manufacturer Harrison Spinks officially opened its new £2.5 million Innovation Centre at its Leeds headquarters last Friday.
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Forrest helps Sterling Furniture to fifth straight sales climb
Sterling Furniture Group maintained its upwards sales trajectory in 2017–18 with management saying the climb reflected a first full year's inclusion of the Glasgow retailer it bought two years ago.
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Sofa.com reports £38m loss after vast asset writedown
Upholstery vertical Sofa.com booked a consolidated net loss of £38.4 million in the period leading up its change of ownership this summer, largely the result of management writing down the carrying value of its assets.
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Steinhoff delays accounts because forensic investigation needs more time
Steinhoff International Holdings says the outcome of PwC's forensic investigation into historic accounting irregularities will not be ready as soon as hoped, forcing it to delay releasing audited 2017 and 2018 accounts until spring next year.
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Eve Sleep reduces cash burn ahead of new investment
Eve Sleep has extended its cash runway in the past month and revealed it has received commitments from investors for about two-thirds of the hoped-for £15 million in fresh equity investment.
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Argos mulling introduction of IFC to drive furniture purchases
General merchandise giant Argos is scoping out the launch of an interest-free credit offer as it considers new ways of using finance to drive sales of higher-ticket furniture goods.
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Foam supplier's UK profits hit by customer claims after supply issue
The UK arm of foam giant Recticel slipped to a loss last year after squeezed margins combined with millions of pounds of customer claim costs because of a supply chain issue.
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John Lewis sales drop £10m after it front-loaded Black Friday offers
Sales growth disappeared for John Lewis & Partners in the week after Black Friday as the impact of launching offers earlier left it unable to match prior-year trade. Home was the worst-performing category.
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Furniture retailer Cookes diversifies with storage, bathroom investments
Longstanding Midlands and Dorset furniture retailer Cookes says investments made over the past three years have impacted near-term profits but helped it to diversify and broaden its appeal for the next generation.
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OTHER NEWS
Carpetright books half year loss amid downsizing
Carpetright, Britain's biggest carpets and flooring retailer, booked a £12 million net loss for the six months to October 27 during which it closed stores and deleveraged.
Wider gross margin, lower costs boost Sweet Dreams
Profits at Burnley bed manufacturer Sweet Dreams advanced as wider gross margin helped counter the impact of lower turnover in the year to March 31, 2018.
La-Z-Boy UK pitches itself as whole home furniture source
Furniture distributor La-Z-Boy UK will add occasional furniture and dining sets as it diversifies its product offer further at next month's January Furniture Show at the NEC in Birmingham.
Far East sofa maker agrees $100m term loan
New facility for Hong Kong listed Man Wah.
Leekes says big home projects in demand in 2018–19
Leekes says kitchens, bathrooms and conservatories have been winning categories for the home department store retailer in the first half of its 2018–19 financial year.
Tapi Carpets concessions to open inside Homebase stores
Flooring retailer Tapi Carpets has signed a concession partnership with Homebase that will see it open instore units across the home improvement chain's estate.
3.2% fewer people ventured into shops in November
Retail footfall declined in November with all three types of destination — high streets, retail parks and shopping centres — seeing fewer people than they did in the same month last year.
Palmers' freeholds sold prior to Beales takeover
Multi-million pound property deal preceded Beales lease assignment.
Upholstery producer Whitemeadow wins Excellence in Manufacturing Award
Sofa maker Whitemeadow has been awarded the ‘Excellence in Manufacturing’ award at the 10th annual Chad Business Awards, organised by local newspaper the Mansfield & Ashfield Chad.
Give the gift of inspiration, Furniture Makers' charity urges industry
Industry charity The Furniture Makers’ Company has launched a Christmas fundraising campaign and is asking for the entire furnishing industry to sponsor a School Design Prize.