Thursday, May 26, 2022
IKEA retail division makes first U.K. operating profit since 2017
IKEA shrugged off the impact of raw material price inflation to find wider gross margin and cost savings elsewhere in the business on the way to its first U.K. operating profit in four years.
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Likewise becomes national business as run-rate smashes £100m landmark
Buy-and-build flooring group Likewise says it has established a trade brand in most geographical areas of the U.K. as new results confirm its annual revenue run-rate has breached nine-figures for the first time.
Vital signs positive for East Midlands independent furniture retailer
High six-figure profits for the second straight year at privately-owned Leicester furniture retailer.
Upholstered furniture maker leaves creditors facing near £1m deficit
The insolvency of a direct-to-consumer upholstered furniture company making armchairs, sofas and dining chairs from its factory in the Cotswolds leaves creditors, chiefly the bank, facing a shortfall.
Wayfair launches first of three stores planned for this year
Home and garden ecommerce giant Wayfair opened the first retail store under its AllModern fascia on Tuesday as it embarks on what its CEO has called the next stage in the retailer's omnichannel journey.
Bed maker Sleepeezee to use locally-sourced Romney Marsh Wools
Kent bed maker Sleepeezee says nearby Romney Marsh Wools is its new supplier of wool, and will be the provider for all mattresses containing wool material.
Incoming chairman acquired shares in transaction that uprates bedding company valuation
Former Debenhams and New Look executive holds shares in direct-to-consumer bedding brand following spring 2022 transaction that uprates the company valuation.
Furniture industry fintech partner to lay off 10% of workforce
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.
High-end furniture design and build business rebrands, relocates after restructure
Surrey furniture maker moves to South Coast and rebrands while its predecessor operating company was placed into administration earlier this week.
Profits lift-off for Batley bed maker Apollo
Net profits more than doubled for the second straight year for West Yorkshire mattress manufacturer Apollo Beds through 2020/21.
Carpet maker finds gross margin and cost savings to counter falling sales
Cost cutting and a five percentage point improvement in gross margin lifts Wiltshire carpet group back into profit after a circa £300,000 bottom line turnaround.
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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Made.com acquires online platform that champions independent brands
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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Ashley Manor, Alstons owner hires new CFO from outside sofa industry
David Roberts has been named chief financial officer at TCM Living, the upholstery group that owns Ashley Manor, Alexander & James, Alstons and AMX Design.
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Diligent cost control helped La-Z-Boy protect U.K. margins
The U.K. and Ireland distribution arm of global motion furniture giant La-Z-Boy found cost savings in the early stages of trading through a market upended by Covid restrictions.
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Bed maker Relyon says consistent and reliable service yielded results
The managing director of the business behind the historic Relyon and Dunlopillo brands says growth with independent customers was a standout as it laid down a marker in the first period since its...
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Furniture holding company takes 25% stake in flatpack cabinet maker
A U.K. ready-to-assemble cabinet furniture manufacturer that has supplied the likes of Argos for many years has divested 25 percent of the business to an East of England group with an expanding...
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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How IKEA U.K. sales split between stores and online
Stores sales have fallen in each of the past four years for IKEA in the U.K., while online sales have surged. Here are the figures.
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Wayfair is allocating substantial resource to physical retail and we can expect the U.K. to feature. Eventually
Physical retail will take a long time before it's substantial, and yet there's a very substantial sized team working on it today, Wayfair CEO Niraj Shah told analysts earlier this month ahead of a brick-and-mortar expansion for the hitherto ecommerce specialist.
TOP STORIES
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IKEA retail division makes first U.K. operating profit since 2017
IKEA shrugged off the impact of raw material price inflation to find wider gross margin and cost savings elsewhere in the business on the way to its first U.K. operating profit in four years.
-
Marks & Spencer looks to edge-of-town retail parks and online to drive home spend
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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Edward Tadros steps down as Ercol Furniture chairman after 29 years
Henry Tadros will take over as chairman at heritage furniture maker Ercol [ercol] this summer, the Princes Risborough manufacturer has announced. He succeeds his father, Edward Tadros.
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Sofa Workshop had near £1m a month funding requirement to carry on trading
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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Dunelm shares sink to two-year low
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.
OTHER NEWS
Likewise becomes national business as run-rate smashes £100m landmark
Buy-and-build flooring group Likewise says it has established a trade brand in most geographical areas of the U.K. as new results confirm its annual revenue run-rate has breached nine-figures for the first time.
Vital signs positive for East Midlands independent furniture retailer
High six-figure profits for the second straight year at privately-owned Leicester furniture retailer.
Upholstered furniture maker leaves creditors facing near £1m deficit
The insolvency of a direct-to-consumer upholstered furniture company making armchairs, sofas and dining chairs from its factory in the Cotswolds leaves creditors, chiefly the bank, facing a shortfall.
Wayfair launches first of three stores planned for this year
Home and garden ecommerce giant Wayfair opened the first retail store under its AllModern fascia on Tuesday as it embarks on what its CEO has called the next stage in the retailer's omnichannel journey.
Bed maker Sleepeezee to use locally-sourced Romney Marsh Wools
Kent bed maker Sleepeezee says nearby Romney Marsh Wools is its new supplier of wool, and will be the provider for all mattresses containing wool material.
Incoming chairman acquired shares in transaction that uprates bedding company valuation
Former Debenhams and New Look executive holds shares in direct-to-consumer bedding brand following spring 2022 transaction that uprates the company valuation.
Furniture industry fintech partner to lay off 10% of workforce
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.
High-end furniture design and build business rebrands, relocates after restructure
Surrey furniture maker moves to South Coast and rebrands while its predecessor operating company was placed into administration earlier this week.
Profits lift-off for Batley bed maker Apollo
Net profits more than doubled for the second straight year for West Yorkshire mattress manufacturer Apollo Beds through 2020/21.
Carpet maker finds gross margin and cost savings to counter falling sales
Cost cutting and a five percentage point improvement in gross margin lifts Wiltshire carpet group back into profit after a circa £300,000 bottom line turnaround.