Retail News
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Furniture and electricals retailer Harvey Norman has seen sales in Ireland weaken in the past two months, but the negative trend has softened at its smaller Northern Ireland based operation.
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- RETAIL & DISTRIBUTION
The insolvent restructure of the Pagazzi Lighting retail business earlier this autumn resulted in the closure of three of its stores, administrators have said in a new report.
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Value furniture and homeware retailer JYSK opened 135 new stores in the past year and says it expects to pull the shutters up on at least as many again by the end of next summer.
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Liverpool furniture, home and garden retailer Taskers said margins were negatively impacted through 2022/23 as it bore additional freight costs of about £1 million. It said it hopes for a recovery now that rates have normalised.
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- BEDS & MATTRESSES
Wooden beds and mattress vertical Get Laid Beds continued to rack up class-leading profits through 2022/23 as high export demand mitigated weaker figures from the U.K.
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- UPHOLSTERY
The carve-up of the adjustable furniture retail group that until earlier this year traded as Middletons and Oak Tree Mobility has led to improved profitability and a better-equipped platform for growth, its owner has said.
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Ingka Group, the largest worldwide IKEA retailer, saw profits climb five-fold in the year to end August. The proceeds will be reinvested, shared with its employees, and go towards charitable endeavours, the company said.
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Restructuring advisors have been called in at Vivense London, a two-store furniture, lighting and homeware retailer that arrived in the U.K. amid multi-million pound investment during the pandemic.
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Victoria sold 175,000sqft former Westex carpets factory last year, but sale price hadn't previously been disclosed.
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- UPHOLSTERY
The chief executive of Natuzzi has detailed other assets that the Italian sofa maker and retailer might consider selling to raise cash, in addition to its iconic High Point building.
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Bolia, the modern upholstery, cabinet and accents retail brand that has been present in the U.K. market since 2016, has reported its first loss in 14 years.
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The owners of ecommerce furniture and home brand Laura James say the business is on target to eliminate the losses of the past two years after management change, and investment in both new technology and infrastructure.
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- UPHOLSTERY
Natuzzi said it did not deliver enough revenue to break even in the third quarter as it lapped an exceptional period last year and endured weak macro economic conditions in markets worldwide.
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Upholstery and flooring retailer ScS has appointed Phil Geary as chief marketing and digital officer, filling a post vacated earlier this month after Kyle Rowe took a new position elsewhere.
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- BEDS & MATTRESSES
Beds market leader Dreams has launched a programme of beds and bedroom furniture in partnership with X Rocker, the global gaming furniture brand.
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The rebuild of Made.com took another leap forward this weekend after brand owner Next launched the first standalone store for the furniture retailer banner under its stewardship.
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November saw the largest single-month improvement in consumer confidence for major purchases since June 2020, giving retailers a boost going into the final weeks of the year.
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Online general merchandise retailer Very said its indoor furniture sales performance was "significantly ahead of the market" through the three months to end September.
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- RETAIL & DISTRIBUTION
Higher costs weakened margins at specialist furniture and bedding retailer Futon Company in the past year, despite another all-time high sales effort.
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- BEDS & MATTRESSES
Home and garden retail giant IKEA has launched a mattress recycling scheme in partnership with The Furniture Recycling Group.
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- RETAIL & DISTRIBUTION
The Furniture Market, one of the U.K.'s largest ecommerce furniture retailers, invested heavily in new delivery vehicles and infrastructure last year as it continued to achieve profitable momentum.
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- BEDS & MATTRESSES
The National Bed Federation (NBF) has issued an urgent call to bed manufacturers and retailers to watch out for and report fraudulent emails purporting to be from the trade association.
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- RETAIL & DISTRIBUTION
Alteri Investors has detailed the total cash amount it has invested, loaned or contributed so far into the vertically-integrated Bensons for Beds operation, the U.K.'s second largest retailer in the beds category.
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- SUPPLY & WHOLESALE
Fritz Hansen, the designer furniture maker whose products are sold through some of the U.K.'s sharpest modern retailers, has appointed Henrik Steensgaard as its new chief executive as it looks to return to profit.
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- REGIONAL
Large independent furniture and flooring retailer John Doe of Diss leaned into its credit facilities through 2022/23 amid investment in new assets and the pay-down of trade obligations.
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- RETAIL & DISTRIBUTION
Antony Batty & Co appointed at South West floorcoverings retailer on Monday following notice of intent filing ten days ago.
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The Conran Shop has opened its first location in the Middle East with a new store in the largest shopping mall in Kuwait.
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- RETAIL & DISTRIBUTION
Furniture retailer Barker and Stonehouse has begun testing and selling a curated selection of products on the ecommerce platform of Next, the general merchandise retail giant.
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- BEDS & MATTRESSES
Vertically-integrated bed manufacturer Naturalmat has opened its first store in the North of England after taking a former Laura Ashley home furnishings and fashion unit.
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- RETAIL & DISTRIBUTION
German kitchen giant Nobilia is closing in on 80 stores for its franchised Kutchenhaus brand with another nine locations slated to open soon, adding to those already opened so far this year.
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- RETAIL & DISTRIBUTION
The group behind historic furniture, kitchens and appliance retailer Knees Home and Electrical narrowed its net loss on higher revenue through 2022/23, ahead of the closure of one of its Wiltshire stores.
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Emerging beds retailer The Sleep Haven has followed its late-September launch in Yorkshire with the opening of a second unit, this time on the Riverside Retail Park at Warrington.
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Designer furniture, homeware and lifestyle retailer The Conran Shop has received further equity funding from its owner, taking the amount beyond £10 million already this year.
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A third senior company official earlier this year became a shareholder in Loaf, the expanding furniture retailer backed by investment firm Blue Coast Capital.
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EZ Living Furniture is to open a purpose-built store on arguably the most lucrative piece of real estate for comparison goods in all of Northern Ireland after state officials granted planning approval.
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The year-on-year value of furniture and lighting sales climbed in October according to the Office for National Statistics (ONS), though it revised down earlier figures.
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Salvation Army Trading Company is seeking to expand its corporate partnership network by teaming furniture retailers requiring solutions for unwanted or end-of-life products.
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- RETAIL & DISTRIBUTION
Property agents handed a privately-owned Devon and Dorset department store retailer a boost after an upwards revaluation of its freehold assets.
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- RETAIL & DISTRIBUTION
Thailand's Central Group is to become the majority shareholder of U.K. and Ireland retailers Selfridges, Brown Thomas and Arnotts after it exchanged debt for equity in the department store group.
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- RETAIL & DISTRIBUTION
Consumer furniture price inflation eased to its lowest level in 34 months in October as the falling away of upstream supply chain pressure combined with a desire to stimulant weak demand, prompting price cuts.
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