Monday, March 1, 2021
Wayfair makes first profit since IPO and rebrand as U.K. helps drive growth
Continued top line growth last year helped ecommerce home and living giant Wayfair book its first profit since both its IPO in 2014 and its rebrand from CSN Stores a decade ago.
Foam company says its suppliers have used situation to implement price increases
The CEO of Recticel has pinned rising prices for foam at the door of the chemicals sector, citing numerous force majeure events for creating supply shortages of polyols and isocyanates.
Profits rise up to and through pandemic for adjustable furniture group
Profits more than doubled for the group behind the motion upholstery and beds brands Ashley Anderson and Willowbrook as revenue continued to rise in the lead up to the pandemic and in the period since.
Glasswells boosts storage capacity following surge in B2B demand
Customers' pre-Brexit stockpiling prompted Glasswells, best known for its furniture retail business, to double capacity at its commercial storage arm.
Investor demand prompts Victoria to upsize bond issue to €500m
Flooring manufacturer and wholesaler Victoria has issued £500 million of new bonds, more than 40 percent higher than originally planned after strong investor demand.
MP explains logic behind mandatory furniture store closures and the chance of Easter trading
The chair of the All-Party Parliamentary Furniture Industry Group says he sees little chance for any adjustments to the non-essential retail category before April, all but extinguishing any lingering hopes for Easter store trade.
Foam supply could become tight again, trade association warns
A combination of high demand and routine maintenance could reignite foam supply issues according to Europur, the European Association of Flexible Polyurethane Foam Block Manufacturers.
ScS non-exec to become chairman at home shopping retailer
The ecommerce group behind the JD Williams and Home Essentials ecommerce and mail-order businesses has hired Ron McMillan as chairman to replace Matt Davies, who will step down at the end of March.
Pandemic is 'Blue Planet' moment for the industry, says mattress maker chairman
History could view the pandemic as the moment that sustainability issues went beyond awareness to actually influencing consumer decision-making, says a company at the vanguard of the circular beds economy.
Wider margin boosted foam supplier Carpenter ahead of pandemic
A 650 basis point improvement in gross margin helped counter the impact of lower revenue at comfort foam supplier Carpenter in the period leading up to the pandemic.
Sales close in on €500m for mainland Europe's largest online furniture, home retailer
Pan-European home and living retailer Home24 said sales jumped 42 percent in 2020 with the German-based business getting this year off to an even stronger start.
New eight-figure Habitat recapitalisation part of restructure process
J Sainsbury, the supermarket giant, has recapitalised the operating company of its Habitat furniture and homewares retail brand for the second time in three years.
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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Ramp up of upholstery factory continued for retail giant Next
General merchandise retailer Next put more upholstery volume through its own Yorkshire sofa factory in the run up to the pandemic while expanding headcount by 35 percent.
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Joules agrees £12.5m buyout of home, furniture retailer
Joules Group, the fashion and lifestyle company, has taken a decisive step into the furniture and home sector after agreeing to buy The Garden Trading Company, a fast-growing online retailer with a...
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Pandemic spurred Selfridges, Arnotts and Brown Thomas owner to manage liquidity risk
The company behind U.K. based Selfridges and Irish retailers Arnotts and Brown Thomas says the stores have been able to access hundreds of millions in debt finance to bolster liquidity amid the...
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Dunelm says it has never been more confident and plans to build furniture scale
Half year profits jumped by a third for Dunelm with the diversified home retailer saying it delivered growth despite some rivals being allowed to remain open while its own stores were closed.
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Dreams takes ex-Bensons unit and expands in North West
Dreams, Britain's largest beds retailer, is pushing ahead with store expansion including stores in North West and North East England.
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
Little need for ScS to talk up its share price in period of change
This is a pivotal period in time for ScS, Britain's second largest upholstery retailer, as it adjusts to the departures of a long-time financial backer and its highest ranking executive.
Consumer confidence: Actions speak louder than words
It is counter intuitive that on the day that the highest-ever single-month reading for furniture retail sales is released, we also report a drop in big-ticket consumer confidence sentiment.
Mid-sized furniture retailers at biggest risk from surging freight rates
Freight rates in the latter half of 2020 climbed at a frightening pace and leave two stakeholder groups at particular risk: the mid-sized furniture retailer, and the end consumer.
Number-crunching the impact of post-Christmas lockdown on retailers like DFS, ScS and John Lewis
Data compiled by The Furnishing Report reveals the expected near-term order impact of the new restrictions on furniture and flooring retailers in the immediate aftermath of Christmas.
DATA & LISTS
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The Debt Report: Creditors owed cash by insolvent industry entities: Feb. 26, 2021
Three companies left combined debts of £170,000 with 8 companies owed £10,000 or more.
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The Insolvency Report: Filings in the week to February 26, 2021
Three insolvencies from within the furniture and furnishings industry were announced in the period from February 20–26, 2021.
TOP STORIES
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Wayfair makes first profit since IPO and rebrand as U.K. helps drive growth
Continued top line growth last year helped ecommerce home and living giant Wayfair book its first profit since both its IPO in 2014 and its rebrand from CSN Stores a decade ago.
-
Foam company says its suppliers have used situation to implement price increases
The CEO of Recticel has pinned rising prices for foam at the door of the chemicals sector, citing numerous force majeure events for creating supply shortages of polyols and isocyanates.
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Fabb Furniture to complete rebrand by summer with five new stores planned this year
Two new Fabb Furniture stores will open for the first time when restrictions are eased in April with up to three more planned for later this year, by which time it will have completed rebranding its entire estate.
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Dwell CEO and successor to founder to leave retailer
Peter Jenkins, who succeeded Dwell founder Aamir Ahmad as CEO two years ago, is to leave the DFS-owned urban furniture brand.
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Flooring retailers should brace for incoming price threats on multiple fronts
Carpet and vinyl flooring manufacturers and distributors are facing up to supply shortages and cost increases for yarn, PVC and other raw materials with a significant knock-on effect expected for retailers.
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Scottish furniture retailers face likely wait to reopen but glimmer of hope for Easter remains
It could be almost May before furniture and floorcoverings retailers are able to reopen stores in Scotland but First Minister Nicola Sturgeon yesterday left the door ajar for a possible earlier return.
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Ex-owner of Collins & Hayes, Wesley Barrell agrees to pay chunk of cash following I.P. sale
The liquidator and lawyers chasing the former owner of Collins & Hayes for a portion of the seven-figure sum his company received for selling its intellectual property have scored a victory in the battle to recoup funds for creditors.
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Furniture stores in England will be shut for lucrative Easter Bank Holidays
Furniture and flooring retailers in England face another seven weeks of mandated closure with the earliest possible reopening date being a week after the Easter Bank Holiday weekend, habitually a money-spinning period for the trade.
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Third of core furniture category sales were online in 2020
One in every three pounds spent on key furniture items such as sofas was spent online in 2020 as ecommerce surged and store sales fell sharply as a result of mandated shop closures and changing consumer behaviour.
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John Lewis said to be considering more store closures or relocations
Department store retailer John Lewis & Partners could close up to a further eight stores on top of a similar number that remained shut after the first lockdown last year, according to weekend press reports.
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OTHER NEWS
Profits rise up to and through pandemic for adjustable furniture group
Profits more than doubled for the group behind the motion upholstery and beds brands Ashley Anderson and Willowbrook as revenue continued to rise in the lead up to the pandemic and in the period since.
Glasswells boosts storage capacity following surge in B2B demand
Customers' pre-Brexit stockpiling prompted Glasswells, best known for its furniture retail business, to double capacity at its commercial storage arm.
Investor demand prompts Victoria to upsize bond issue to €500m
Flooring manufacturer and wholesaler Victoria has issued £500 million of new bonds, more than 40 percent higher than originally planned after strong investor demand.
MP explains logic behind mandatory furniture store closures and the chance of Easter trading
The chair of the All-Party Parliamentary Furniture Industry Group says he sees little chance for any adjustments to the non-essential retail category before April, all but extinguishing any lingering hopes for Easter store trade.
Foam supply could become tight again, trade association warns
A combination of high demand and routine maintenance could reignite foam supply issues according to Europur, the European Association of Flexible Polyurethane Foam Block Manufacturers.
ScS non-exec to become chairman at home shopping retailer
The ecommerce group behind the JD Williams and Home Essentials ecommerce and mail-order businesses has hired Ron McMillan as chairman to replace Matt Davies, who will step down at the end of March.
Pandemic is 'Blue Planet' moment for the industry, says mattress maker chairman
History could view the pandemic as the moment that sustainability issues went beyond awareness to actually influencing consumer decision-making, says a company at the vanguard of the circular beds economy.
Wider margin boosted foam supplier Carpenter ahead of pandemic
A 650 basis point improvement in gross margin helped counter the impact of lower revenue at comfort foam supplier Carpenter in the period leading up to the pandemic.
Sales close in on €500m for mainland Europe's largest online furniture, home retailer
Pan-European home and living retailer Home24 said sales jumped 42 percent in 2020 with the German-based business getting this year off to an even stronger start.
New eight-figure Habitat recapitalisation part of restructure process
J Sainsbury, the supermarket giant, has recapitalised the operating company of its Habitat furniture and homewares retail brand for the second time in three years.