Retail News
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- UPHOLSTERY
Italian upholstered furniture conglomerate Natuzzi has appointed Giuseppe Cacciapaglia as replacement for Vittorio Notarpietro pending a search for a new permanent chief financial officer.
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- LEGAL & RESTRUCTURING
The future of garden, outdoor leisure, lighting and home ecommerce brand True Shopping (trueshopping.co.uk) is uncertain after restructuring advisors were drafted in to run its operating company.
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- BEDS & MATTRESSES
Strong post-lockdown demand and unwinding its large order backlog last year put Tempur U.K. on track to recover sales lost to the early months of the pandemic.
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- RETAIL & DISTRIBUTION
The business unit encompassing furniture delivered growth on both a one and two-year basis in the 13 weeks to January 1, retail giant Marks and Spencer Group (M&S) said Thursday.
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- RETAIL & DISTRIBUTION
Home goods retailer Dunelm said furniture was a standout category in the three months to Christmas as it enjoyed the first benefits of its soon-to-be fully-operational new furniture distribution hub.
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- DEALS & FINANCE
Nobia, the kitchen manufacturing and retail conglomerate and owner of British kitchen chain Magnet, has agreed to buy Superfront, a Sweden-based direct-to-consumer business that already sells to U.K. buyers.
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- RETAIL & DISTRIBUTION
An increased participation of Habitat-branded products and deliberately fewer promotions helped Argos find margin expansion in pre-and-post Christmas trading, according to parent company J Sainsbury, the grocery and general merchandise retailer.
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- RETAIL & DISTRIBUTION
Sales jumped by more than a quarter for furniture and design retailer Heal's in the year to September 2021 despite long periods of enforced store closures. It also enjoyed a big turnaround in profitability.
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- UPHOLSTERY
Upholstery group DFS has named the new managing director for its Sofology retail chain, succeeding the brand's CEO Sally Hopson, who left after retiring last year.
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- ECOMMERCE
Lapping pandemic-driven peaks meant home sales fell for digital retailer The Very Group, owner of the Very.co.uk and Littlewoods brands, in the period taking in Black Friday through to Christmas Eve.
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- RETAIL & DISTRIBUTION
Pandemic restrictions meant sales almost halved for three-store beds and department store retailer Daniel of Windsor in 2020/21, ahead of it resolving to buy out two shareholders.
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- RETAIL & DISTRIBUTION
Retailers will need to be agile and resilient to fight demand challenges prompted by rising living costs, according to the head of the British Retail Consortium (BRC), the industry trade body and lobby group.
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- BEDS & MATTRESSES
The National Bed Federation (NBF) is calling on bed manufacturers and retailers to support its annual National Bed Month awareness campaign, and is providing a range of multi-media tools to enable them to do so.
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- RETAIL & DISTRIBUTION
The group behind the Selfridges, De Bijenkorf, Brown Thomas and Arnotts retail brands recorded a nine-figure deficit as multi-territory mandatory store closures clipped its ability to trade last year.
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- ECOMMERCE
Consumers pivoting online helped the ecommerce company behind the Not On The High Street home and gift retail brand deliver a big turnaround in profits in the year that saw a controlling stake sold to U.S. investment firm Great Hill Partners.
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- RETAIL & DISTRIBUTION
Upholstery, cabinet and accessories ecommerce retailer Furniture Box has agreed to occupy a large build-to-suit warehouse facility as it looks to build on rapid growth achieved through the pandemic.
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- RETAIL & DISTRIBUTION
The U.K. arm of Dunnes Stores, the Ireland headquartered food, fashion and furnishings retailer, generated positive cashflow despite recording an £8.1 million net accounting loss in its just-reported financial year.
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- RETAIL & DISTRIBUTION
Fashion-to-furniture retailer Next has upgraded profit expectations for the fifth time in the past year after strong pre-Christmas trading, but cautioned that continued buoyancy for discretionary spend is uncertain.
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- RETAIL & DISTRIBUTION
Furniture retailer Made.com Group (MADE) says self-help measures instigated in the second half of last year will soon result in shorter lead times against a backdrop of industry-wide supply chain issues.
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The company behind the Furniture and Choice ecommerce furniture retail brand saw revenue more than double during the height of the pandemic. Margins widened and profits also rose sharply.
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- TRADE & INDUSTRY
Furniture, flooring and furnishings insolvencies jumped both sequentially and on an annual basis in the final quarter as state support measures such as the furlough scheme were brought to an end.
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- DEALS & FINANCE
Pan-European ecommerce-led furniture retailer Home24 has agreed to buy direct-to-consumer home accessories chain Butlers in a move that diversifies its product offer and expands its physical store footprint.
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- RETAIL & DISTRIBUTION
Barker and Stonehouse, the North East headquartered independent furniture retailer, booked higher profits in 2020/21 ahead of investment in logistics, technology and its store network.
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- FLOORCOVERINGS
North West retailer and contractor Mears Flooring maintained a double-digit net margin in 2020/21 despite the first lockdown clipping both its top and bottom lines.
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- RETAIL & DISTRIBUTION
Courier company DX Group has added two new warehouses for its DX Freight division, which specialises in both one and two person deliveries of larger goods such as furniture and beds.
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- FLOORCOVERINGS
A distributor of underlay and other carpet and flooring accessories has suffered a serious fire at its premises in Tiverton, Devon.
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- REGIONAL
Family-owned retailer Cousins booked a large increase in sales and profits in the period after it acquired flagship assets of the now-defunct Alan Ward furniture business.
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- RETAIL & DISTRIBUTION
Furniture and homeware company Swoon has become the latest third-party brand to have its products offered on the platform of DFS, the U.K.'s upholstery market leader.
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- ECOMMERCE
Home and garden ecommerce platform Wayfair is expected to build distribution capacity in Scotland and has been recruiting ahead of opening a new asset in a key location.
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- RETAIL & DISTRIBUTION
An emerging finance partner for furniture and flooring retailers more than halved losses at its U.K. operation as the pandemic hit, despite dampened demand for credit.
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- RETAIL & DISTRIBUTION
ScS, the national upholstery and flooring retailer, has relocated its Doncaster store to a different retail park in the South Yorkshire town.
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- RETAIL & DISTRIBUTION
Tapi Carpets & Floors booked the smallest full year loss in its short history last year and by some earnings measures was profitable for the first time as higher sales and lower costs boosted the challenger flooring retailer.
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- UPHOLSTERY
Large upholstery retail warehouse Vine Mill Furniture is clearing stock ahead of its planned closure with owners instead to focus on the group's wholesale operations supplying other companies.
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- RETAIL & DISTRIBUTION
Omnichannel furniture and homeware retailer Loaf plans to expand its store footprint into Scotland for the first time with the opening of a ninth showroom next year.
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- UPHOLSTERY
Natuzzi has announced the resignation of chief financial officer Vittorio Notarpietro after 20 years service with the Italian upholstery maker and retailer across two separate spells.
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- RETAIL & DISTRIBUTION
The Weston family have confirmed plans to sell retail group Selfridges to a joint venture between Thai conglomerate Central Group and Austrian property company Signa.
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- RETAIL & DISTRIBUTION
International furniture brand Timothy Oulton has in the past few days expanded its London store footprint with the opening of two further showrooms while its eponymous owner is now majority shareholder in Andrew Martin International, the high-end retail and wholesale company.
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- UPHOLSTERY
Upholstery retailer Sofology has revealed two further new store locations for its 2022 pipeline as it continues to reconfigure its national network.
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- RETAIL & DISTRIBUTION
The U.K.'s largest hardwood furniture retailer Oak Furnitureland will diversify its product offer with the launch of a new programme of bespoke floorcoverings across four new-format stores from Boxing Day.
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- LEGAL & RESTRUCTURING
The near term future of a decades-old furniture retailer that once traded from six South East stores is secure after a rescue buyout immediately after its predecessor company was placed into administration.
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