Retail News
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Marks and Spencer's store network is delivering 25 percent less revenue across clothing and home categories compared to four years ago. Online is making up the shortfall, it says, along with a move away from urban high streets.
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- RETAIL & DISTRIBUTION
Fallen upholstery retailer Sofa Workshop sustained losses of £5.5 million last year and would have needed even more than that in funding to see out the remainder of 2022, had the plug not been pulled.
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Former Debenhams and New Look executive holds shares in direct-to-consumer bedding brand following spring 2022 transaction that uprates the company valuation.
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- RETAIL & DISTRIBUTION
More than 7,000 Klarna employees worldwide have been told that 10 percent of them are to be impacted by a programme of redundancies as the fintech company grapples with worsening consumer demand impacting its retail customers.
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Shares in home and furniture retailer Dunelm closed at their lowest level in over two years on Tuesday on what proved the busiest day of trading in the stock for more than a year.
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- DEALS & FINANCE
An online cabinet furniture retailer and wholesaler that booked seven-figure profits in its last financial year has secured external investment into the business.
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- DEALS & FINANCE
The company behind the Houseology and Olivia's furniture and interiors brands has expanded again with the acquisition of a digital marketing agency.
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- RETAIL & DISTRIBUTION
Kitchen retailer Wren is planning to ramp up its activity in the U.S. with the opening of a second large factory and the rollout of new showrooms this year.
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- RETAIL & DISTRIBUTION
Rising costs for both consumers and businesses along with the structural shift to online will result in further gains for retail parks in the brick-and-mortar segment, one of the U.K's largest furniture retail landlords has forecast.
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- RETAIL & DISTRIBUTION
A two-store South West home and gift retailer that ceased trading earlier this spring leaves a major Dutch interior décor wholesaler facing the non payment of a six-figure debt.
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- RETAIL & DISTRIBUTION
Kingfisher, parent to U.K. home improvement chain B&Q, is to start a second £300 million share buyback programme inside a year as part of plans to return excess capital to shareholders.
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- RETAIL & DISTRIBUTION
The value of furniture and lighting retail sales climbed in April according to new figures released Friday morning but at the lowest rate so far this year and below inflation in the category.
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- RETAIL & DISTRIBUTION
Danish furniture chain JYSK will open its 26th U.K. store early next month while Lars Larsen Group, the owner of the global brand, is expanding further its growing roster of retail formats.
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- BEDS & MATTRESSES
Furniture Village sleep and wellness ambassador Dr Ranj Singh is visiting schools across London to talk to pupils and parents about the importance of a good night’s sleep, as part of a new collaboration with The Sleep Charity.
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- RETAIL & DISTRIBUTION
Internet furniture sales declined in the U.K. during the first quarter while store-based sales climbed as they lapped a period when brick-and-mortar retailers could only deliver, and not take orders because of restrictions.
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- RETAIL & DISTRIBUTION
Shareholders have provided new equity funding for The Conran Shop, the London based furniture, design and homeware retailer sold to a new investor at the outset of the pandemic.
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Home shopping retailer N Brown said pandemic-driven demand for home and gift categories has tempered but not before it had capitalised on the homeware boom through the past two years.
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The md of luxury kitchens chain Harvey Jones has led a management buyout that will see an industry return for former Silentnight chairman Adrian Fawcett.
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- RETAIL & DISTRIBUTION
Furniture and furnishings price inflation eased for the first time in over a year in April but remained at a very high level.
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- REGIONAL
Privately-owned furniture and department store retailer Browns enjoyed a £1.6 million bottom-line turnaround in the past year as it emerged strongly from lockdown.
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- RETAIL & DISTRIBUTION
The value of shares in furniture and homeware retailer Made.com fell to a new low by Monday evening after it warned that sales would be lower than previously forecast and losses wider.
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- RETAIL & DISTRIBUTION
Former John Lewis chief financial officer Patrick Lewis is to take the same post at furniture retailer Made.com, the retailer announced Monday morning alongside downgraded guidance for the year.
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- BEDS & MATTRESSES
An overhaul of the National Bed Federation's (NBF) annual bed industry awards will see first-time winners in categories for the best individual bed store or department and sales representative.
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- RETAIL & DISTRIBUTION
Kitchen maker and retailer Wren grew sales and profits by almost a third as it shrugged off the impact of three months of store closures at the beginning of the year — a period when rival DIY sheds continued to trade.
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- UPHOLSTERY
Natuzzi, the Italian upholstered furniture conglomerate, has sold a fifth of the Singapore based business unit that runs its non-Chinese stores in the Asia-Pacific region under a plan to expand its retail footprint. The deal was first disclosed last year (see related).
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National retailer ScS has hired a former Allied Carpets, MFI and Habitat executive to the newly created role of flooring director as it looks to bolster its proposition in the category, The Furnishing Report can reveal.
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Italian furniture conglomerate Calligaris Group is to launch a third ecommerce platform with the introduction of a direct-to-consumer website for its Connubia brand.
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- DEALS & FINANCE
Investment and backers disclosed for the furniture-as-a-service (FaaS) provider that teamed with sofa-in-a-box brand Swyft earlier this year.
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- RETAIL & DISTRIBUTION
The investment arm of the sovereign wealth fund that owns Harrods, the prestige London department store retailer, has adjusted the make up of its holding company board.
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The biggest operator of IKEA stores worldwide has earmarked London as a test bed for new formats and a repurposing of its wider superstore network.
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The home and lifestyle ecommerce retailer behind brands such as Vonhaus and Spinningfield found profit growth last year in what it described as another period of "unprecedented challenge."
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- RETAIL & DISTRIBUTION
Upholstery vertical Sofa.com is to make a quick return to Yorkshire after plans by a former landlord prompted the closure of its hitherto sole standalone store in the North of England earlier this spring.
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Family-owned bricks-to-clicks retailer Bedstar bolstered its balance sheet in 2020/21, building cash to highest-ever recorded levels.
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Online-led furniture retailer Made.com has acquired Trouva, an ecommerce platform that offers a curated range of homewares, lifestyle and fashion products.
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- RETAIL & DISTRIBUTION
The historic building housing the Beales department store in Peterborough is to be transformed if proposals soon to be put in front of town planners are given the green light.
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- SUPPLY & WHOLESALE
Nascent lifestyle brand Jasper Conran London is to expand an existing agreement with general merchandise retail giant Next into furniture and homeware for the first time.
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International sales dropped by almost a third for Wayfair in the first quarter as the ecommerce giant lapped exceptional comparators and weathered weaker trading in Europe, where Russia's invasion of Ukraine has spooked consumers.
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- RETAIL & DISTRIBUTION
Made.com, the ecommerce-led furniture, lighting and home accents retailer, has appointed tech leader Claire Valoti as an independent non-executive director.
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- RETAIL & DISTRIBUTION
Supply chain provider Wincanton is to hire 175 of lifestyle retailer The White Company's employees across fulfilment and warehousing roles as part of a new five-year partnership between the companies.
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- RETAIL & DISTRIBUTION
Bensons for Beds managing director for retail Alan Williams is to leave the business this autumn in a move that will see chief commercial and digital officer Nick Collard take on greater responsibilities. The company has also hired a new retail director.
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