Wednesday, October 23, 2019
TOP STORIES
Upholstery chain Sofology appoints chief operating officer
The new chief operating officer at upholstery retailer Sofology says he is joining "one of the few retailers with opportunities to open more stores at a time when most are looking to shrink."
South East furniture independent paid down debt, boosted balance sheet after share issue
Cash and asset rich independent further shores up balance sheet in year that saw it book a wider deficit on lower sales.
Wayfair introduces payment instalment plan option for U.K. customers
Wayfair, the ecommerce home retailer, has introduced a range of flexible credit options for its U.K. customers after extending its partnership with Klarna, the payments company.
Breasley hires former Hypnos official as operations director
Wayne Nortjé has joined privately-owned bed manufacturer Breasley as operations director, with responsibility for both its East Midlands sites.
European bed retailer raises €14m from sale-and-leaseback of Benelux HQ
Beter Beheer, a subsidiary of Dutch bed retail group Beter Bed Holding, has agreed a sale-and-leaseback of its 783,000sqft distribution centre and headquarters at Uden, Holland.
John Lewis home sales fall back as attention shifts to fashion
Three straight weeks of home sales growth came to an end at John Lewis & Partners last week as the chain shifted its promotional message to its apparel lines.
Warren Evans manufacturing bed frames for first time since relaunch
Resurgent bed maker and retailer Warren Evans has begun manufacturing a range of wooden bed frames, expanding on the new mattress line introduced when the brand relaunched earlier this year.
Retail group Jarrold, owner of furniture store The Granary, books lower profits
Underlying profits declined at East of England retail, property and business services group Jarrold & Son in 2018–19 on the back of narrower gross margin.
Ercol, One-Call executives join board of trade association BFM
Ian Peers of Ercol and Paul James of One-Call Furniture have been elected board members of trade association British Furniture Manufacturers (BFM).
Heritage department store chain Watt Brothers files for insolvency
Department store chain Watt Brothers, which carries a limited home offer across its eleven stores situated across Scotland, has been placed into administration.
South East beds independent closing in on double-figure store numbers
Privately-owned southeast England retailer Sussex Beds is expanding to the north and east of its existing store base with its latest new showroom, slated to open next month.
Far East companies are buying up furniture assets all over the world
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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OKA discloses Wisteria sale price amid fresh investment for 2019
The financial terms of OKA Direct's takeover of U.S. retailer Wisteria — a precursor to the British furniture brand's own expansion into the country — have been disclosed for the first time.
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Beales to find more cost savings after registering bigger loss in 2018–19
Storied department store chain Beales has vowed to trim costs further over the next two years after it recorded a wider deficit for 2018–19, partly impacted by one-off costs following its MBO last...
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Tapi signposts breakeven timeline as thinner margin hinders transition to profit
Tapi Carpets & Floors, the expanding flooring chain run primarily by former Carpetright executives, posted a bigger loss in 2018 after costs increased and gross margin narrowed.
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New Russell Dean store helps Stokers return to growth
The Stokers group of furniture stores collectively achieved high single-digit growth in the year to April 30 as same-store sales held and its newly-built Russell Dean shop gave it a fillip. Profits...
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Mlily owner lines up £56m takeover of U.S. furniture chain
The Chinese manufacturer behind the Mlily mattress brand has agreed to buy a California headquartered furniture chain with 36 stores across the U.S.
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
Far East companies are buying up furniture assets all over the world
Furniture analytica: a window into the home of every one of your customers
The more we know about our customers, the more likely we can design, source and offer products and services which best meet their needs.
Elite independent furniture retailers continue to invest
Hatfields of Colchester will today (Oct. 5) officially relaunch its Peartree Road showrooms, unveiling the new-look façade it has been working on since the beginning of the year.
Gardiner's new roots underscore threat (and opportunity) for independent furniture retail
Gardiner Haskins, the heritage home improvement retail brand based in the South West of England, restructured its business last year with the closure of its large Bristol shop based in the iconic Grade II listed Soapworks building.
DATA & LISTS
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Furniture, furnishings and flooring insolvencies in the week to October 18, 2019
Six insolvencies from within the furniture and furnishings industry were announced in the period October 12–18, 2019.
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Debt Report: Creditors owed money by insolvent furniture industry businesses — October 18, 2019
Today's list contains five insolvent companies leaving combined debts of c. £1.2 million. Names all 23 creditors owed £10,000 or more.
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Who's gone bust: Corporate bankruptcy in the week to October 11, 2019
Five insolvencies from within the furniture and furnishings industry were announced in the period October 5–11, 2019.
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Debt Report: Creditors owed money by insolvent furniture industry businesses — October 11, 2019
Today's list contains five insolvent companies leaving combined debts of c. £2.9 million. Names all 45 creditors owed £10,000 or more.
TOP STORIES
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Upholstery chain Sofology appoints chief operating officer
The new chief operating officer at upholstery retailer Sofology says he is joining "one of the few retailers with opportunities to open more stores at a time when most are looking to shrink."
-
South East furniture independent paid down debt, boosted balance sheet after share issue
Cash and asset rich independent further shores up balance sheet in year that saw it book a wider deficit on lower sales.
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Ex-owner of high end interiors company backs MBO at Clive Christian Furniture
Two senior managers at Clive Christian Furniture Co. have led a management buyout of the luxury cabinet maker, supported by David Dare, the former owner and md at high-end interiors company Shaws of Darwen.
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Casper said to be exploring IPO; Updates on U.K. arm finances
Casper updates on U.K. financial performance amid speculation of stock market float in the U.S. to support planned physical store expansion.
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Company behind four-store North East beds chain and prominent mattress etailer liquidates
Monomarket, the privately-owned company behind one of the largest regional mattress and beds chains in the U.K. and a significant ecommerce website, has been placed into liquidation.
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Majority owner said to seek new financial partner for The Conran Shop
Biggest shareholder has provided seven-figure loans to the group holding company in each of the past two reported years.
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After heavy investment, Ercol aims high for its U.K. manufacturing operation
There is no shortage of consumers or retailers wanting to buy furniture designed, made and sold by Ercol, the Buckinghamshire company that will celebrate its 100th year in 2020.
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Hilding Anders, owner of U.K. retailer Feather & Black, appoints new CEO
Swedish beds conglomerate Hilding Anders has appointed Henrik Sjögren as its new chief executive, succeeding incumbent CEO and chairman Pepyn Dinandt.
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Airsprung rallies after big sales drop from second largest customer
Mattress and upholstery group Airsprung says its performance has picked up since April, putting it on track to reverse widening losses incurred in 2018–19.
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Bedding industry supplier Latexco plots 'factory of the future' after buying 807,000sqft site
Latexco says the acquisition of a 7.5 hectare site near its existing plants in Belgium can aid its transition from a traditional latex supplier into a 'one stop shop of comfort.'
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OTHER NEWS
Wayfair introduces payment instalment plan option for U.K. customers
Wayfair, the ecommerce home retailer, has introduced a range of flexible credit options for its U.K. customers after extending its partnership with Klarna, the payments company.
Breasley hires former Hypnos official as operations director
Wayne Nortjé has joined privately-owned bed manufacturer Breasley as operations director, with responsibility for both its East Midlands sites.
European bed retailer raises €14m from sale-and-leaseback of Benelux HQ
Beter Beheer, a subsidiary of Dutch bed retail group Beter Bed Holding, has agreed a sale-and-leaseback of its 783,000sqft distribution centre and headquarters at Uden, Holland.
John Lewis home sales fall back as attention shifts to fashion
Three straight weeks of home sales growth came to an end at John Lewis & Partners last week as the chain shifted its promotional message to its apparel lines.
Warren Evans manufacturing bed frames for first time since relaunch
Resurgent bed maker and retailer Warren Evans has begun manufacturing a range of wooden bed frames, expanding on the new mattress line introduced when the brand relaunched earlier this year.
Retail group Jarrold, owner of furniture store The Granary, books lower profits
Underlying profits declined at East of England retail, property and business services group Jarrold & Son in 2018–19 on the back of narrower gross margin.
Ercol, One-Call executives join board of trade association BFM
Ian Peers of Ercol and Paul James of One-Call Furniture have been elected board members of trade association British Furniture Manufacturers (BFM).
Heritage department store chain Watt Brothers files for insolvency
Department store chain Watt Brothers, which carries a limited home offer across its eleven stores situated across Scotland, has been placed into administration.
South East beds independent closing in on double-figure store numbers
Privately-owned southeast England retailer Sussex Beds is expanding to the north and east of its existing store base with its latest new showroom, slated to open next month.
Furniture retail price inflation rises to 20-month high
Consumer price inflation for furniture and furnishings climbed to its highest level since February 2018 last month, according to new Government figures.