Thursday, November 15, 2018
TOP STORIES
UK sofa sales fall, margins widen in Q3 for Ashley Manor, Alstons owner
The Thai owner of sofa makers Alstons and Ashley Manor has reported lower third quarter sales for its combined UK sofa business unit but wider margins, leading to improved profits.
Second Sofa.com concession under threat as House of Fraser heads out of Intu
House of Fraser is to close its stores at Norwich, Nottingham, Newcastle's Metro Centre and Lakeside Shopping Centre at Thurrock in early 2019 after rent talks with the property owned failed to yield an agreement.
Furniture Village objects to HomeFurnitureLand trademark application
IP lawyers representing Furniture Village will make the case for an online retailer's application to trademark the phrase HomeFurnitureLand to be quashed at a hearing next month.
Flatpack furniture family supports investment firm buyout of flooring company
A Danish investment group with links to the furniture industry has acquired a majority stake in premium wood flooring company Junckers.
Wholesaler slips to loss but sales, cash position improve
Privately-owned furniture wholesaler Annaghmore Agencies improved cash generation in a challenging year that saw sales lift but earnings fall on narrower margins.
Tenant sought following planned closure of one of Midlands' largest furniture stores
Heritage West Midlands furniture retailer William & Sons has closed its doors for the final time after a long-in-the-planning orderly shutdown while it cleared stock.
Man Wah bought Vietnam factory to mitigate tariff risk
Far East upholstery giant Man Wah Holdings says its summer acquisition of one of Vietnam's largest furniture manufacturers shields the business from the impact of tariffs.
VAT ruling could cost JD Williams owner extra £9m a year
N Brown, the home shopping retailer, says it faces higher marketing costs and a potential asset write-down as a result of a "mixed" draft verdict in its long-running legal battle with the tax man regarding VAT.
Dutch carpet makers gain UK market share from Belgians
Belgian carpet makers posted their weakest year-on-year export comp for the UK market since last November at the end of the third quarter of 2018, losing share to their Dutch rivals.
High growth difficult to repeat in uncertain market, says Ashley Ann
Sales advanced again for fitted furniture maker and retailer Ashley Ann in the year to end March but the privately-owned company cautioned it was not expecting to grow at the same level in 2018–19.
Sales, profits momentum builds for Ulster Stores group
Independent department store group Ulster Stores built on a return to growth in 2016–17 with rising sales and profits in the year to January 31, 2018.
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.
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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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.
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Dreams CEO vows to disappoint those expecting history to repeat itself
Bed specialist Dreams is expanding. Another four or five stores will open this year, with perhaps ten to follow in 2019. We've been here before. But the circumstances at Dreams are very different...
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Sofa.com bullish on trade as it adds colour regarding House of Fraser tie-up
Upholstery vertical Sofa.com has fleshed out details regarding its concession partnership with House of Fraser, revealed by The Furnishing Report last week, and says sales across its network are...
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High Street change 'irreversible' says Chancellor, announcing palliative relief
The High Street can't be saved in its current form but there are measures that can ease the pain, Chancellor of the Exchequer Phillip Hammond said yesterday as he announced a series of ideas...
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Victoria tackles 'misleading rumour and speculation,' seeking to stem share slide
Victoria, the floorcoverings supply group whose shares have fallen sharply in value this week, says negative sentiment expressed towards the company is wide of the mark.
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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UK sofa sales fall, margins widen in Q3 for Ashley Manor, Alstons owner
The Thai owner of sofa makers Alstons and Ashley Manor has reported lower third quarter sales for its combined UK sofa business unit but wider margins, leading to improved profits.
-
Second Sofa.com concession under threat as House of Fraser heads out of Intu
House of Fraser is to close its stores at Norwich, Nottingham, Newcastle's Metro Centre and Lakeside Shopping Centre at Thurrock in early 2019 after rent talks with the property owned failed to yield an agreement.
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More than 59 weeks since John Lewis managed consecutive home growth
Negative year-on-year home sales returned for John Lewis & Partners in a tough overall week that saw total sales across the chain drop by just over £8 million.
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Dining, exports and higher throughput lift Baker Furniture sales
Early export wins, dining ranges and higher sales with existing customers were behind Baker Furniture's top line growth in 2017–18, according to managing director Mark Callaghan.
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Southern expansion boosts Barker & Stonehouse sales
Privately-owned furniture retailer Barker & Stonehouse grew sales double-digit in 2017–18 with the impact of new stores and online combining to deliver a sixth straight top line gain.
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82% of mattress imports hail from just five countries
Year-on-year mattress imports advanced for the fourth straight month in September with a 9.9 percent increase driven by the two largest supply nations.
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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.
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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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OTHER NEWS
Furniture Village objects to HomeFurnitureLand trademark application
IP lawyers representing Furniture Village will make the case for an online retailer's application to trademark the phrase HomeFurnitureLand to be quashed at a hearing next month.
Flatpack furniture family supports investment firm buyout of flooring company
A Danish investment group with links to the furniture industry has acquired a majority stake in premium wood flooring company Junckers.
Wholesaler slips to loss but sales, cash position improve
Privately-owned furniture wholesaler Annaghmore Agencies improved cash generation in a challenging year that saw sales lift but earnings fall on narrower margins.
Tenant sought following planned closure of one of Midlands' largest furniture stores
Heritage West Midlands furniture retailer William & Sons has closed its doors for the final time after a long-in-the-planning orderly shutdown while it cleared stock.
Man Wah bought Vietnam factory to mitigate tariff risk
Far East upholstery giant Man Wah Holdings says its summer acquisition of one of Vietnam's largest furniture manufacturers shields the business from the impact of tariffs.
VAT ruling could cost JD Williams owner extra £9m a year
N Brown, the home shopping retailer, says it faces higher marketing costs and a potential asset write-down as a result of a "mixed" draft verdict in its long-running legal battle with the tax man regarding VAT.
Dutch carpet makers gain UK market share from Belgians
Belgian carpet makers posted their weakest year-on-year export comp for the UK market since last November at the end of the third quarter of 2018, losing share to their Dutch rivals.
High growth difficult to repeat in uncertain market, says Ashley Ann
Sales advanced again for fitted furniture maker and retailer Ashley Ann in the year to end March but the privately-owned company cautioned it was not expecting to grow at the same level in 2018–19.
Sales, profits momentum builds for Ulster Stores group
Independent department store group Ulster Stores built on a return to growth in 2016–17 with rising sales and profits in the year to January 31, 2018.
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.