Wednesday, March 20, 2019
TOP STORIES
ScS order intake lifts in 2019 as chain spells out cost of Sofa.com bid, HoF exit
Interim numbers from ScS Group underscore how serious the retailer was about acquiring Sofa.com, with Britain's number two upholstery chain having spent a sizeable six-figure sum on the process.
Sofa imports jump on higher Chinese, Italian arrivals
Double-digit gains on upholstery shipped and trucked in from China and Italy boosted sofa imports in January, countering weaker figures from Poland.
Clearing concession stock helped ScS drive cashflow
Cashflow was perhaps the biggest of several success stories in ScS half-year results, which were released this morning.
Belgian carpet imports to UK decline for seventh straight month
The new year began as the last one ended for Belgium's carpet manufacturers as imports from the country into Britain fell for the seventh month in a row.
Whitemeadow achieves Certified Company status for fire compliance
Whitemeadow, one of Britain's largest upholstered furniture manufacturers, has become the latest industry company to be awarded membership of The Furniture Industry Research Association's Compliance Scheme.
West Yorkshire headboard maker leaves local supply chain short
Suppliers of a Dewsbury headboard maker whose goods are sold via platforms such as Amazon face a shortfall of nearly half a million pounds after the company was placed into liquidation.
Furniture123 owner expands home offer by buying BetterBathrooms brand, assets
Ecommerce group Buy It Direct has acquired the IP, stock and certain assets of BetterBathrooms, the circa £60 million turnover retailer that entered administration earlier this month.
Markus Jooste declined to make himself available for interview — PwC
Markus Jooste, the former chief executive of Steinhoff International Holdings, is yet to speak with PwC, which has been investigating alleged accounting irregularities that were first noted on the day he resigned back in late 2017.
Why DFS informs analysis of Ponsford performance
Timing is everything when it comes to examining performance in the seasonally-affected furniture sector.
ScS fined £6,000 for misleading Black Friday sale deal after Trading Standards probe
Upholstery and flooring retailer ScS has admitted misleading customers at its Aberdeen store back in the autumn of 2017 after a nationwide Trading Standards investigation.
Ponsford profits ebb on high single-digit sales drop and narrower margins
2017–18 profits declined sharply at Ponsford, one of the UK's largest single-store furniture retailers, after it booked lower revenue on thinner margins.
DFS refines Sofology store target amid plan to target rent savings across the group
Upholstery market-leader DFS says it hopes to save £7 million a year in rent as it prepares to enter negotiations with landlords over expiring leases. It also indicated it had revised its Sofology store target.
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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Connected party acquires assets of South East beds retailer
An associated company has acquired certain assets of Beaumont Beds, the southeast England retail chain that entered administration with the closure of its stores earlier this month.
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Owner of Alstons, Ashley Manor enjoys UK upholstery sales and profit lift
TCM Corp, the Far East majority owner of UK sofa makers Ashley Manor and Alstons, posted bigger profits at its British upholstery unit after revenue growth through 2018.
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Cuts to store base hit combined Harveys, Bensons for Beds sales
Store closures contributed to a double-digit sales decline for the division housing Bensons for Beds and Harveys in the three months to December 31, its parent company said in a trading update.
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Lee Longlands returned to profit ahead of Furniture Barn restructure
Furniture retailer Lee Longlands generated cash and returned to profit in 2017–18 ahead of moves to reconfigure its store network with the closure of its physical Furniture Barn units.
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Sofa.com picks up pace of House of Fraser concession openings with six more in pipeline
Upholstery vertical Sofa.com will take the number of concessions inside House of Fraser stores to 14 with the addition of a further six spaces in the weeks ahead.
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
Clearing concession stock helped ScS drive cashflow
Cashflow was perhaps the biggest of several success stories in ScS half-year results, which were released this morning.
Why DFS informs analysis of Ponsford performance
Timing is everything when it comes to examining performance in the seasonally-affected furniture sector.
Success or not, Warren Evans is not the 'first reputable online mattress company'
Warren Evans, the southeast England beds brand that went under in February last year, is back, this time as an online retailer with no showrooms.
Looking for positives after mattress company Eve Sleep sinks to new low
It is nearly two years since direct-to-consumer mattress and ancillary sleep products company Eve Sleep successfully raised £35 million in an IPO that valued the company at about £140 million.
DATA & LISTS
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Debt Report: Who's owed what by insolvent furniture industry companies — Mar. 15, 2019
Today's list contains five insolvent companies leaving combined debts of £1,124,363. Names all 18 creditors owed £10,000 or more.
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Insolvency Report: Corporate bankruptcies announced between Mar. 9–15, 2019
Six insolvencies from within the furniture and furnishings industry were announced in the period Mar. 9–15, 2019.
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Debt Report: Who's owed what by insolvent furniture industry companies — Mar. 8, 2019
Today's list contains five insolvent companies leaving combined debts of £6,198,456. Names all 72 creditors owed £10,000 or more.
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Insolvency Report: Liquidations announced between Mar. 1–8, 2019
Seven insolvencies from within the furniture and furnishings industry were announced in the period Mar. 1–8, 2019.
TOP STORIES
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ScS order intake lifts in 2019 as chain spells out cost of Sofa.com bid, HoF exit
Interim numbers from ScS Group underscore how serious the retailer was about acquiring Sofa.com, with Britain's number two upholstery chain having spent a sizeable six-figure sum on the process.
-
Sofa imports jump on higher Chinese, Italian arrivals
Double-digit gains on upholstery shipped and trucked in from China and Italy boosted sofa imports in January, countering weaker figures from Poland.
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Fictitious transactions inflated Steinhoff profits, asset values by €6.5bn, report finds
A small group of unspecified former Steinhoff International Holdings executives conspired to inflate profits or asset values over a nine-year period between 2009–2017, according to a report by PwC.
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ScS to shed light on early 2019 trading, House of Fraser exit impact
After market leader DFS updated last week, tomorrow attention turns to ScS, Britain's second largest upholstery retailer, which is due to file half-year numbers to January 26, 2019.
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Sofology products to be manufactured in DFS factories for first time
DFS, Britain's biggest sofa retailer and one of its largest manufacturers, is to leverage its vertical supply chain by producing upholstery for the Sofology chain it bought back in 2017 for the first time.
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Dreams picks up another award after being named UK's top speciality retailer
Beds specialist Dreams added to the National Bed Federation award it won last autumn by last night being named the country's leading Speciality Retailer.
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DFS profits pick up after deferred purchases boost sales
Half-year profits advanced at DFS as the sofa market leader made the most of a buildup in sales demand after customers had deferred purchases during the exceptionally hot summer last year.
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Cabinet furniture group Kingstown closes after being placed into administration
The Kingstown Furniture group, one of the UK's largest remaining volume cabinet makers, has been placed into administration and ceased production. The business is to be wound down.
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Success or not, Warren Evans is not the 'first reputable online mattress company'
Warren Evans, the southeast England beds brand that went under in February last year, is back, this time as an online retailer with no showrooms.
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Spotlight turns to DFS ahead of truncated half-year figures
The switch of financial year-end by Britain's largest upholstery retailer DFS went largely unreported, with even the odd supplier claiming to have little knowledge.
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OTHER NEWS
Belgian carpet imports to UK decline for seventh straight month
The new year began as the last one ended for Belgium's carpet manufacturers as imports from the country into Britain fell for the seventh month in a row.
Whitemeadow achieves Certified Company status for fire compliance
Whitemeadow, one of Britain's largest upholstered furniture manufacturers, has become the latest industry company to be awarded membership of The Furniture Industry Research Association's Compliance Scheme.
West Yorkshire headboard maker leaves local supply chain short
Suppliers of a Dewsbury headboard maker whose goods are sold via platforms such as Amazon face a shortfall of nearly half a million pounds after the company was placed into liquidation.
Furniture123 owner expands home offer by buying BetterBathrooms brand, assets
Ecommerce group Buy It Direct has acquired the IP, stock and certain assets of BetterBathrooms, the circa £60 million turnover retailer that entered administration earlier this month.
Markus Jooste declined to make himself available for interview — PwC
Markus Jooste, the former chief executive of Steinhoff International Holdings, is yet to speak with PwC, which has been investigating alleged accounting irregularities that were first noted on the day he resigned back in late 2017.
ScS fined £6,000 for misleading Black Friday sale deal after Trading Standards probe
Upholstery and flooring retailer ScS has admitted misleading customers at its Aberdeen store back in the autumn of 2017 after a nationwide Trading Standards investigation.
Ponsford profits ebb on high single-digit sales drop and narrower margins
2017–18 profits declined sharply at Ponsford, one of the UK's largest single-store furniture retailers, after it booked lower revenue on thinner margins.
DFS refines Sofology store target amid plan to target rent savings across the group
Upholstery market-leader DFS says it hopes to save £7 million a year in rent as it prepares to enter negotiations with landlords over expiring leases. It also indicated it had revised its Sofology store target.
Maisons du Monde invests in best-sellers and forecasts another big gain in 2019
International furniture and home accents retailer Maisons du Monde, which has substantial eight-figure UK sales, says it can grow another 10 percent this year as it builds out its store estate.
Furniture companies offered access to specialist recruitment services to close skills gap
A new solution to help the furniture industry close the skills gap is to be presented by The Furniture and Interiors Education, Skills and Training Alliance (Fiesta) next month.