Friday, May 25, 2018
TOP STORIES
Dunelm profits warning as customer footfall dwindles
Dunelm says profits will be lower than forecast after a downturn in trading that has been "materially more challenging than had been expected."
Beds buck trend as furniture sales drop £34m in April
Mattress companies shrugged off the wider malaise in the furniture sector in April, growing year-over-year sales where other big-ticket categories declined.
Hilco picks up home improvement chain Homebase as Bunnings exits
Bunnings owner Wesfarmers has offloaded the circa 250-store Homebase chain to turnaround outfit Hilco for a nominal sum.
In Pictures: First look at Loaf's just-opened Wilmslow store
Furniture retailer Loaf has opened its fifth store and its first in the North, with a 7,500sqft. unit at Wilmslow, Cheshire.
Skydiving Harrison Spinks execs raise cash for charity
Managers at Leeds beds and components group Harrison Spinks raised £1,400 for industry charity The Furniture Makers' Company after completing a tandem skydive.
Closure kneecaps Tesco's ability to sell furniture
Tesco is to stop selling furniture following the closure of its Tesco Direct operation, the retailer has told The Furnishing Report.
UK sales up double-digit for West Elm in Q1
West Elm, which has three UK stores and sells on a wholesale basis through John Lewis, made revenue gains here in the first quarter of its 2018–19 financial year.
Heal's opening third store in under a year
Designer furniture and homewares retailer Heal's will next week open its third new store in the space of eight months.
Cologne furniture fair three-quarters sold eight months before doors open
Space is running out for exhibitors looking to exhibit at international furniture fair IMM Cologne, event organiser Kölnmesse has said.
Level 3 Furniture Apprenticeship given official backing
An industry-specific Level 3 Furniture Apprenticeship — backed and funded by BFM and The Furniture Makers' Company — has gained official approval.
Buying and merchandising director not returning to furniture retailer
Loaf, which opens its fifth store this week, says it will cover the role internally.
Home sales down 8% at John Lewis last week
Outdoor lines propped up John Lewis furniture sales last week but couldn't prevent a seventh straight week of declining home goods sales.
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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Retail sales fell sharply in Easter-distorted April
Retail sales fell 3.1 percent in April according to the British Retail Consortium with some of the drop-off down to the earlier Easter this year.
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Furniture sales up double-digit at John Lewis last week
Home sales were down at John Lewis last week despite its furniture and flooring sub-categories making double-digit gains.
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Foam supplier says 'relentless raw material price increases' hit margins
Input cost headwinds and one-off factors dented profits at Vita Cellular Foams (UK) last year. The company, a major foam supplier to Britain's mattress and sofa makers, continued to grow sales.
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Carpetright agrees new £15m loan from biggest shareholder
Carpetright, the UK's largest floorcoverings retailer, has agreed a new £15 million loan from Meditor Capital Management, its largest shareholder.
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Steinhoff says 'not sustainable' to keep selling assets to raise cash
Steinhoff International Holdings says it can't carry on funding working capital through asset sales and has warned the hole in its accounts may be larger than first thought.
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
IKEA analysis: Propco boost and what's happening with underlying sales?
The headline figures suggest IKEA posted lower profits and higher sales last year. But that paints far from the full picture at the UK's largest home furnishings retailer.
Opinion: the beginning of the end for the mono-mattress brand
Mattress upstarts are evolving, out of necessity.
Why a Sainsbury's Asda merger matters for the furniture trade
Argos and Habitat owner J Sainsbury today confirmed it plans to merge with Asda, creating a £51 billion retail group.
Opinion: Sun shines for Sharps, Dreams and ScS
Three retailers picked up off the floor, three successful turnarounds. What's next?
DATA & LISTS
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Home furnishings insolvencies in the week to May. 25, 2018
Six insolvencies from within the furniture and furnishings industry were announced in the period May 18–25, 2018.
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From the owners of G Plan to Heal's: The 30 wealthiest in the home furnishings sector
Self-made captains of industry to others who have invested in furniture/flooring having made money elsewhere. The richest 30 people and families.
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Debt Report: May 18, 2018
Today's list contains five insolvent companies leaving combined debts of £2,259,353. Names all 13 creditors owed £10,000 or more.
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Home furnishings insolvencies in the week to May. 17, 2018
Seven insolvencies from within the furniture and furnishings industry were announced in the period May 11–17, 2018.
TOP STORIES
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Dunelm profits warning as customer footfall dwindles
Dunelm says profits will be lower than forecast after a downturn in trading that has been "materially more challenging than had been expected."
-
Beds buck trend as furniture sales drop £34m in April
Mattress companies shrugged off the wider malaise in the furniture sector in April, growing year-over-year sales where other big-ticket categories declined.
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Ercol hunts new md as Nick Garratt prepares departure
Nick Garratt is to leave his post as managing director at furniture maker Ercol, with a recruitment process underway to find a successor.
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Chinese furniture maker to buy Stressless owner
Chinese furniture maker and retailer Qumei is to buy Norway's Ekornes — owner of the Stressless recliner brand — in a deal worth the equivalent of £472 million.
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Warehouse backlog masks Heal's improvement
Heal's, the designer furniture retailer, says it slashed its underlying loss in half last year aided by higher sales and lower delivery costs.
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Profits down 62% as M&S books £321m charge for stores cull
Marks & Spencer says it will close stores at a faster rate as it enacts its plan to shutter a quarter of its legacy clothing and home estate and shift sales online.
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Non-food rethink prompts Tesco Direct closure
Tesco is to close its non-food website Tesco Direct this summer as part of a rethink of the way it approaches the sale of general merchandise such as furniture.
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DFS chief operating officer takes top job as CEO retires
DFS chief operating officer Tim Stacey will this autumn succeed Ian Filby as chief executive, the UK's largest sofa retailer has announced.
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Random mattress tests will aid fight against rogue traders, says NBF
The National Bed Federation has launched a due diligence programme that will see it purchase and test mattresses of both member and non-member manufacturers.
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Bensons and UK bed factories doing well, but Harveys is 'underperforming'
Steinhoff International Holdings has told lenders that Bensons for Beds, Harveys and its British sofa and mattress factories are self-sufficient and not reliant on group funding.
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ANNOUNCEMENT
OTHER NEWS
Hilco picks up home improvement chain Homebase as Bunnings exits
Bunnings owner Wesfarmers has offloaded the circa 250-store Homebase chain to turnaround outfit Hilco for a nominal sum.
In Pictures: First look at Loaf's just-opened Wilmslow store
Furniture retailer Loaf has opened its fifth store and its first in the North, with a 7,500sqft. unit at Wilmslow, Cheshire.
Skydiving Harrison Spinks execs raise cash for charity
Managers at Leeds beds and components group Harrison Spinks raised £1,400 for industry charity The Furniture Makers' Company after completing a tandem skydive.
Closure kneecaps Tesco's ability to sell furniture
Tesco is to stop selling furniture following the closure of its Tesco Direct operation, the retailer has told The Furnishing Report.
UK sales up double-digit for West Elm in Q1
West Elm, which has three UK stores and sells on a wholesale basis through John Lewis, made revenue gains here in the first quarter of its 2018–19 financial year.
Heal's opening third store in under a year
Designer furniture and homewares retailer Heal's will next week open its third new store in the space of eight months.
Cologne furniture fair three-quarters sold eight months before doors open
Space is running out for exhibitors looking to exhibit at international furniture fair IMM Cologne, event organiser Kölnmesse has said.
Level 3 Furniture Apprenticeship given official backing
An industry-specific Level 3 Furniture Apprenticeship — backed and funded by BFM and The Furniture Makers' Company — has gained official approval.
Buying and merchandising director not returning to furniture retailer
Loaf, which opens its fifth store this week, says it will cover the role internally.
Home sales down 8% at John Lewis last week
Outdoor lines propped up John Lewis furniture sales last week but couldn't prevent a seventh straight week of declining home goods sales.