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January 26, 2021

Tuesday, January 26, 2021

Official figures confirm furniture makers price inflation is on the rise

Furniture makers' price inflation climbed for the sixth straight month at the end of 2020 suggesting fears from within the sector of forceful headwinds ahead are well founded.

Darren Potterton named group md at mattress, foam products maker GNG

GNG Group, the West Yorkshire maker of mattresses and other performance foam products for sectors ranging from sports to healthcare, has promoted Darren Potterton to group managing director.

Leap in profits for emerging designer furniture retailer Danetti

Danetti, the ecommerce furniture retailer that opened its first bricks and mortar showroom late last year, booked rising profits in the year to March 31, 2020.

Retail chain United Carpets enters final days as public company

Flooring and beds retailer United Carpets Group will delist from the Alternative Investors Market (AIM) on Friday as it returns to private ownership.

Jenners, bought for £15m by House of Fraser back in 2005, is to close

Jenners department store in Edinburgh will close for good in the spring after its owner failed to agree new terms with the landlord. It has been trading for 183 years.

Mattress company joins Furniture Makers' as corporate supporter

Brooke and Wilde (Brook + Wilde) has become a corporate supporter of The Furniture Makers' Company, the industry charity and livery company.

Tetrad ushers in new ranges after completing showroom refurbishment

Sofa maker Tetrad has completed the remodel of its Preston showroom ahead of the launch of a series of new collections.

Half-year revenue fell 50% at Dorset and Devon department store, garden centre retailer

Dorchester, Sidmouth and Weymouth retailer outlines initial impact of pandemic on revenue, profitability and working capital.

Consumer confidence: Actions speak louder than words

It is counter intuitive that on the day that the highest-ever single-month reading for furniture retail sales is released, we also report a drop in big-ticket consumer confidence sentiment.

Nathan finds another cohort of followers among new generation

Steps taken to broaden the appeal of the heritage Nathan brand have paid dividends according to the furniture company, with a new generation of social media-savvy consumers now following the business.

Big-ticket confidence weaker in January

Big-ticket spend sentiment weakened at the beginning of the year as the country entered its latest lockdown, according to a closely-followed consumer confidence survey.

Ercol says it returned to profit in 2020 after sales beat forecasts

Furniture maker Ercol returned to profit at EBITDA level in 2020 after orders and delivered turnover outperformed levels management were budgeting for during the first lockdown, its chairman said.

INTELLIGENCE

Market Data

marketsRow
Detailed market information about each of the Upholstery, Beds, Cabinet Furniture and Floorcoverings sectors at suppliers' prices.

Discover the up-to-date value of:

UK production

Imports

Exports

Key Trading Partners

Total UK market size

BEST READ IN THE PAST MONTH

Christmas sales climb for Argos despite closures
Argos found sales growth in the period leading up to and through Christmas despite its standalone stores being unable to trade for long periods.
Simba returned to growth last year after cutting cash burn, losses in 2019
The CEO of Simba Sleep says sales growth accelerated profitably in the second half of last year as the direct-to-consumer mattress company looked to build on a year of consolidation in 2019 that saw it...
Upholstery chain ScS attracts divine backing; makes finance appointment
A multi-billion pound investment fund that supports the work and mission of the Church of England has disclosed a significant stake in ScS, Britain's number two upholstery specialist.
Sleepeezee revenue run-rate reached £40m after record autumn
Sleepeezee remained profitable at the EBITDA line in 2020 and would have achieved a second straight year of double-digit top line growth but for the pandemic, the company says.
Tribute to Brian Mynett, who helped Natuzzi thrive in the U.K.
Brian Mynett, the former Christie-Tyler executive who was later responsible for driving the U.K. expansion of Italian sofa giant Natuzzi, has died. He was 80 years old.

INTELLIGENCE

Retail Sales

storeInterior110 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:

UK retail sales value and y/y delta. Monthly and annual

Breakdown by product category

Historical data

Monthly and annual figures

OPINION & ANALYSIS

Consumer confidence: Actions speak louder than words

It is counter intuitive that on the day that the highest-ever single-month reading for furniture retail sales is released, we also report a drop in big-ticket consumer confidence sentiment.

Mid-sized furniture retailers at biggest risk from surging freight rates

Freight rates in the latter half of 2020 climbed at a frightening pace and leave two stakeholder groups at particular risk: the mid-sized furniture retailer, and the end consumer.

Number-crunching the impact of post-Christmas lockdown on retailers like DFS, ScS and John Lewis

Data compiled by The Furnishing Report reveals the expected near-term order impact of the new restrictions on furniture and flooring retailers in the immediate aftermath of Christmas.

Ban on tenant eviction is double-edged sword for independent furniture retailers

The moratorium preventing commercial landlords from evicting non-paying tenants has been extended until the end of March next year. It is not good news for all furniture retailers.

LATEST

Leap in profits for emerging designer furniture retailer Danetti
Danetti, the ecommerce furniture retailer that opened its first bricks and mortar showroom late last year, booked rising profits in the year to March 31, 2020.
Retail chain United Carpets enters final days as public company
Flooring and beds retailer United Carpets Group will delist from the Alternative Investors Market (AIM) on Friday as it returns to private ownership.
Jenners, bought for £15m by House of Fraser back in 2005, is to close
Jenners department store in Edinburgh will close for good in the spring after its owner failed to agree new terms with the landlord. It has been trading for 183 years.

DATA & LISTS

Corporate Debt: Companies owed cash by insolvent industry entities: Jan. 22, 2021
Five companies left combined debts of £10,000,000 with 30 companies owed £10,000 or more.
The Insolvency Report: January 22, 2021
Three insolvencies from within the furniture and furnishings industry were announced in the period from January 16–22, 2021.

TOP STORIES

Official figures confirm furniture makers price inflation is on the rise
Furniture makers' price inflation climbed for the sixth straight month at the end of 2020 suggesting fears from within the sector of forceful headwinds ahead are well founded.
Darren Potterton named group md at mattress, foam products maker GNG
GNG Group, the West Yorkshire maker of mattresses and other performance foam products for sectors ranging from sports to healthcare, has promoted Darren Potterton to group managing director.
Boohoo enters home sector with £55m Debenhams brand buy
Fashion retailer Boohoo Group has acquired the Debenhams brand and other intellectual property for £55 million, heralding its entry into the furniture and homeware market.
Bradbeers confident regarding debt maturity, says furniture demand excelled after spring lockdown
Furniture and department store retailer Bradbeers says it is positive it will be able to extend its debt maturity profile for a second time if the pandemic further delays plans regarding investment property.
Furniture retailers bounced out of November lockdown with highest-ever sales
December furniture and lighting sales were higher than in any other month since records began, and by some margin, according to new figures from the Office for National Statistics.
Emma sales reach €405m as it prepares to launch premium-pitched smart mattress
Direct-to-consumer brand Emma - The Sleep Company is to stretch its price architecture with a new smart mattress programme set to retail for upwards of £2,000. It follows exponential growth last year that saw the business reach revenue of €405 million worldwide.
Industry needs to hang in there. The good times are coming, says Furniture Village CEO
"When we opened our new Leicester store we did two weeks' business in just four days," said Furniture Village CEO Peter Harrison, who says the industry should look forward with optimism for when the lockdowns are eased.
Amazon exit helped narrow loss, says mattress brand Eve Sleep
Full year sales climbed for Eve Sleep with the direct-to-consumer mattress and ancillary products company saying it had cut losses too on the revenue tailwind and business model adjustments.
DTC mattress brand expects first U.K. profit as parent lands $130m investment
Consumers pivoting to ecommerce last year boosted U.K. revenue and profitability for the company behind the DreamCloud and Nectar Sleep mattress brands.
Furniture retailers should expect price increases as makers grapple cost inflation
Furniture makers are facing unprecedented increases in the cost of key raw materials according to trade association BFM, and retailers should brace for some of that to be passed on.