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Furniture retailer Loaf has partnered technology company Cylindo to launch high-quality 3D product visualisation and 4K zoom capability on its ecommerce channel.
Monday, December 11, 2023
Rising costs weigh on profits for retail chain Harry Corry
Furniture and soft furnishings chain Harry Corry Interiors generated almost £5 million of operating cashflow for the second straight year but reported profits declined on rising costs and thinner margins.
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Made to open second brand store since Next buyout
Furniture retailer Made.com (Made) is returning to an old hunting ground with the opening of its second brand showroom since its relaunch under the custodianship of Next earlier this year.
Soaring operating costs send JYSK back to deficit in the U.K.
Value furniture chain JYSK has now reported losses in every year bar two since it arrived in the U.K. 15 years ago as rising operating costs including a higher rent bill vaporised the profits of the Covid-period.
Two-store fitted furniture vertical folds
Liquidation impacts around 20 jobs at East of England kitchen, bedroom, home study maker and retailer.
Profits jump for contract upholstery giant but new year has been tougher
The West Midlands manufacturing group behind contract seating brands Boss Design, Jack Cartwright and Lyndon Design booked higher profits through 2022/23 but says repeating the feat will be trickier in the new financial year.
VC-backed Cotswold Company expands furniture retail footprint
Furniture retailer Cotswold Company is to open its ninth full-line store and its 12th overall including outlets with the launch of a showroom in Bath next Thursday (Dec. 14, 2023).
Arighi Bianchi turns Park Lane, Macclesfield warehouse into part-time outlet store
Independent furniture retailer Arighi Bianchi is to use its Park Lane warehouse in Macclesfield as a clearance store, opening up once a week to sell ex-display and end-of-line products as well as goods with small defects.
Take-private deal for €166m European bed retailer nears completion
The take-private deal of mainland European retail and wholesale group Beter Bed Holding by a venture capital group is substantially complete after almost all existing shareholders agreed to tender their shares.
Revenue growth slows for flooring distributor Likewise
Multi-site flooring wholesale group Likewise said year-to-date revenue remained up double-digit by November but the rate of growth has fallen 4 percentage points since the date of its half-year results.
Industry charity names next generation of furniture leaders
The Furniture Makers' Company (TFMC), the industry charity and livery company, on Tuesday night named the recipients of its 60 for 60 Awards — championing a potential new generation of future leaders.
Garden furniture company makes inroads into overstock position
Outdoor furniture supplier Alexander Rose has cut inventory levels by more than a third over the past six months as the business returned to profit after the disruption of the immediate post-Covid period.
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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Alteri details total Bensons for Beds outlay amid share structure tweak
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...
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Demand for flooring at levels not seen since 2008 financial crash, says Victoria
Floorcoverings conglomerate Victoria has reported a half-year net loss of £22.5 million on weak demand, higher finance costs and a slew of underlying restructuring line items.
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East Midlands sofa and recliner maker folds shortly after setting out expansion hopes
JPL Upholstery, a circa £5 million turnover recliner and sofa maker that was producing three models for one of the country's largest furniture retailers, has been placed into liquidation.
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Ecommerce furniture retailer makes further gains and invests in delivery
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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Profits dip from record high at Futon Company
Higher costs weakened margins at specialist furniture and bedding retailer Futon Company in the past year, despite another all-time high sales effort.
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
DATA & LISTS
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Insolvencies & business closures: 147 filings between Dec. 4-10, 2023
147 furnishings companies were placed into administration, liquidation, wound up or dissolved in the past week. Full list here.
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Debt Report: Filings between Dec. 4–10, 2023
Seven companies left creditors with £10.6 million shortfall.
TOP STORIES
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Rising costs weigh on profits for retail chain Harry Corry
Furniture and soft furnishings chain Harry Corry Interiors generated almost £5 million of operating cashflow for the second straight year but reported profits declined on rising costs and thinner margins.
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Furniture chain snaps up another former Harveys store
Expanding furniture and furnishings retail chain NCF Living is to further build out its store footprint after taking another former Harveys unit.
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Natuzzi's London retail unit shrugs off Finchley Road store closure
A wholly-owned Natuzzi subsidiary that runs three of the Italian upholstery company's stores in London returned to profit last year after it booked the revenue from unwinding its large order book.
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Online home retailer slips to deficit in first year since furniture buyout
The ambitious ecommerce homewares retailer that rescued £2 million furniture retailer Shabby in early 2022 slipped to a deficit in the first full year since completing the asset buyout.
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Profits flat at Panaz as fabrics group broadens horizons
The integration of an acquisition and a new startup soft furnishings manufacturing venture helped North West fabrics group Panaz grow through 2022/23. But rising costs meant profits flatlined.
OTHER NEWS
Made to open second brand store since Next buyout
Furniture retailer Made.com (Made) is returning to an old hunting ground with the opening of its second brand showroom since its relaunch under the custodianship of Next earlier this year.
Soaring operating costs send JYSK back to deficit in the U.K.
Value furniture chain JYSK has now reported losses in every year bar two since it arrived in the U.K. 15 years ago as rising operating costs including a higher rent bill vaporised the profits of the Covid-period.
Two-store fitted furniture vertical folds
Liquidation impacts around 20 jobs at East of England kitchen, bedroom, home study maker and retailer.
Profits jump for contract upholstery giant but new year has been tougher
The West Midlands manufacturing group behind contract seating brands Boss Design, Jack Cartwright and Lyndon Design booked higher profits through 2022/23 but says repeating the feat will be trickier in the new financial year.
Capital pains: Explaining Natuzzi's U.K. kingdom of leather
2023 marks exactly 20 years since Natuzzi acquired the-then major U.K. furniture retailer Kingdom of Leather in a move that confirmed longstanding industry speculation surrounding a planned move into retail on the part of the Italian sofa giant. [Premium]
VC-backed Cotswold Company expands furniture retail footprint
Furniture retailer Cotswold Company is to open its ninth full-line store and its 12th overall including outlets with the launch of a showroom in Bath next Thursday (Dec. 14, 2023).
Arighi Bianchi turns Park Lane, Macclesfield warehouse into part-time outlet store
Independent furniture retailer Arighi Bianchi is to use its Park Lane warehouse in Macclesfield as a clearance store, opening up once a week to sell ex-display and end-of-line products as well as goods with small defects.
Analysis: First DFS, now Sofa Club — Poland's upholstery producers target U.K. retailers
More details on Polish sofa maker Tessa's investment in Sofa Club against a backdrop of a compatriot producer buying up shares in DFS, the upholstery market leader. [Premium]
Take-private deal for €166m European bed retailer nears completion
The take-private deal of mainland European retail and wholesale group Beter Bed Holding by a venture capital group is substantially complete after almost all existing shareholders agreed to tender their shares.
Revenue growth slows for flooring distributor Likewise
Multi-site flooring wholesale group Likewise said year-to-date revenue remained up double-digit by November but the rate of growth has fallen 4 percentage points since the date of its half-year results.