Tuesday, November 19, 2019
TOP STORIES
Arlo & Jacob to open new flagship London showroom with more properties in the pipeline
Upholstery brand Arlo & Jacob will open its second showroom in the capital and its fifth overall with a new store in a landmark building that once housed the North London Royal Mail Sorting and Delivery Centre.
Upholstery top performer in furniture sector in October: retail sales
Sofas were the best-selling category for furniture retailers in October as the wider big-ticket market made gains on the same month last year.
Tariffs harm Man Wah sales but Europe delivers
Brexit and tariffs vexed Far East recliner maker Man Wah in the six months to end September but only the latter impacted its half-year numbers as sales in Europe advanced.
Swoon makes Rhenus sole carrier for two-man home deliveries after improving retailer's success rate
Rhenus Home Delivery will deliver all two-man orders for customers of furniture retailer Swoon after helping it make strides in the success rate for its deliveries.
Paul Longmuir named top Buoyant sales agent for third time
Lancashire sofa maker Buoyant Upholstery has named Paul Longmuir as Sales Agent of the Year for 2019.
Lombok management have skin in the game with lender no longer sole owner of furniture retailer
The venture debt provider that completed a takeover of heritage East-inspired furniture retailer Lombok back in 2017 is no longer the sole shareholder.
Lower production costs for sofa makers drag down furniture price inflation
Furniture retail price inflation eased in October as output prices at the factory gate fell again for upholstery manufacturers and, for the first time in nearly three years, for case goods producers.
Bensons/Harveys takeover: Alteri Investors opts for the Full English (and Welsh)
Steinhoff has agreed to sell its U.K. furniture and beds assets to the turnaround investor Alteri Investors. A deal has been a long time coming, and few will be surprised at the detail.
U.K. sales down for Stressless as consumers pivot to motorised products
U.K. revenue declined for the company behind Norwegian recliner brand Stressless in the third quarter, but still outperformed other world markets. The trend for motorised products has prompted a change of strategy, it said.
Expanding flooring retailer takes two year capex north of £2m
New stores helped fire growth at expanding floorcoverings retailer Connection Retail in 2018–19, during which underlying sales advanced nearly a fifth.
Registration live for BFM Fabric Show London 2020
Organisers of the BFM Fabric Show London have opened the registration process for upholstery and bed fabric buyers to attend the 2020 edition.
Very, Littlewoods owner procures £150m of funding amid need to service PPI claim surge
Shop Direct says it has sourced £150 million of committed funding it requires following "an unexpected late surge" in payment protection insurance (PPI) claims ahead of the late August deadline.
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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£450m value boost for company behind Selfridges, Arnotts and Brown Thomas
The book value of the group behind retail department store giants Selfridges, Brown Thomas and Arnotts has been transformed after it satisfied outstanding debt following a share issue.
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Widely anticipated move sees lender begin talks to acquire Carpetright
Flooring market leader Carpetright could be taken private after it began discussions with Meditor European Master Fund, a lender and shareholder in the retailer, regarding a possible takeover with a...
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Modest growth in retail sales after 'extraordinary period of discounting'
Retail sales beat year-earlier levels in October after retailers — in particular apparel stores — slashed prices to stimulate activity, according to the British Retail Consortium (BRC).
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Takeover of £47m carpet yarn spinner poses 'serious competition concerns' says watchdog
The Danish company that bought a key supplier to the U.K. carpet industry has been given a week to offer solutions to competition concerns else antitrust regulators will step up their inquiry into...
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ScS puts surplus cash to use in share buyback as former owner divests
ScS, the national upholstery and carpets specialist, is primed to boost shareholders' earnings-per-share in a transaction that sees its former outright owner sever further ties with the business.
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
OPINION & ANALYSIS
Bensons/Harveys takeover: Alteri Investors opts for the Full English (and Welsh)
Steinhoff has agreed to sell its U.K. furniture and beds assets to the turnaround investor Alteri Investors. A deal has been a long time coming, and few will be surprised at the detail.
Well-intentioned investigation into carpet sector takeover presents risks both ways
Despite the rise in the popularity of luxury vinyl tile, wood flooring and ceramics, carpets remain the floorcoverings of choice for most dry rooms in your average British home.
Simba and Fenwick underscore peril of judging companies by the bottom line
There is little that unites mattress company Simba Sleep and department store retailer Fenwick. One is a disrupting force that didn't exist just four years ago while the other is a long-established enterprise whose roots date back to 1882.
Far East companies are buying up furniture assets all over the world
DATA & LISTS
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IKEA gives up little detail on U.K. profits but the hints are there
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Who's gone bust: Industry insolvency appointments in the week to November 15, 2019
Seven insolvencies from within the furniture and furnishings industry were announced in the period November 10–15, 2019.
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Debt Report: November 15, 2019 — Who was owed cash by insolvent furniture industry companies
Today's list contains six insolvent companies leaving combined debts of c. £3,000,000. Names all 16 creditors owed £10,000 or more.
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Corporate Insolvency: Liquidator appointments in the week to November 9, 2019
Four insolvencies from within the furniture and furnishings industry were announced in the period November 2–9, 2019.
TOP STORIES
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Arlo & Jacob to open new flagship London showroom with more properties in the pipeline
Upholstery brand Arlo & Jacob will open its second showroom in the capital and its fifth overall with a new store in a landmark building that once housed the North London Royal Mail Sorting and Delivery Centre.
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Upholstery top performer in furniture sector in October: retail sales
Sofas were the best-selling category for furniture retailers in October as the wider big-ticket market made gains on the same month last year.
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Fast growth for The Cotswold Company but over stocking hits profits while debt rises
Private equity backed furniture retailer The Cotswold Company enjoyed double-digit growth in 2018–19 but profitability was hit by inventory management issues that forced it into spend more than planned on warehousing.
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Bensons for Beds, Harveys to be bought by Alteri Investors in deal including bed, sofa factories
Specialist European retail sector investor Alteri Investors has agreed to buy Blue Group Hold Co, a newly formed holding company for Bensons for Beds, Harveys and Steinhoff's U.K. upholstery and bed factories.
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Alstons, Alexander & James owner finds big Q3 sales gain at U.K. sofa division
The Thai majority owner of Alstons, Ashley Manor and Alexander & James said its U.K. upholstery division recorded high double-digit sales growth in the third quarter but production headwinds impacted margin.
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Carpetright takeover by lender and biggest shareholder moves step closer
The prospective new owner of Carpetright has been given the backing of the flooring retailer's board and says the chain can thrive "without the constraints of a public market listing."
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Furniture retailer Maisons du Monde to close all its Debenhams concessions
French furniture and home accents retailer Maisons du Monde says it has decided to close all of its concessions inside Debenhams, dealing a blow to the department store retail chain.
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Decline in retail property values strengthens furniture sector's hand in lease renegotiations
Two of the U.K.'s largest furniture landlords have cited retail as the weak link in the property market as the value of their portfolios declined amid structural change impacting the sector.
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Sofa retailers in pre-Brexit stock build as imports jump by a third
Upholstery warehouses across the U.K. are full to bursting after imports of sofas arrived in record numbers ahead of Britain's planned, but ultimately delayed, exit from the European Union.
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IKEA targets 24-hour delivery and puts U.K. boss in charge of sustainability
Shortening lead times and further boosting its sustainability credentials are priorities for IKEA in the U.K., the country's largest retailer of home goods has disclosed.
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OTHER NEWS
Tariffs harm Man Wah sales but Europe delivers
Brexit and tariffs vexed Far East recliner maker Man Wah in the six months to end September but only the latter impacted its half-year numbers as sales in Europe advanced.
Swoon makes Rhenus sole carrier for two-man home deliveries after improving retailer's success rate
Rhenus Home Delivery will deliver all two-man orders for customers of furniture retailer Swoon after helping it make strides in the success rate for its deliveries.
Paul Longmuir named top Buoyant sales agent for third time
Lancashire sofa maker Buoyant Upholstery has named Paul Longmuir as Sales Agent of the Year for 2019.
Lombok management have skin in the game with lender no longer sole owner of furniture retailer
The venture debt provider that completed a takeover of heritage East-inspired furniture retailer Lombok back in 2017 is no longer the sole shareholder.
Lower production costs for sofa makers drag down furniture price inflation
Furniture retail price inflation eased in October as output prices at the factory gate fell again for upholstery manufacturers and, for the first time in nearly three years, for case goods producers.
U.K. sales down for Stressless as consumers pivot to motorised products
U.K. revenue declined for the company behind Norwegian recliner brand Stressless in the third quarter, but still outperformed other world markets. The trend for motorised products has prompted a change of strategy, it said.
Expanding flooring retailer takes two year capex north of £2m
New stores helped fire growth at expanding floorcoverings retailer Connection Retail in 2018–19, during which underlying sales advanced nearly a fifth.
Registration live for BFM Fabric Show London 2020
Organisers of the BFM Fabric Show London have opened the registration process for upholstery and bed fabric buyers to attend the 2020 edition.
Very, Littlewoods owner procures £150m of funding amid need to service PPI claim surge
Shop Direct says it has sourced £150 million of committed funding it requires following "an unexpected late surge" in payment protection insurance (PPI) claims ahead of the late August deadline.
Acquisition takes €4.4bn European furniture chain beyond 300 stores
Austrian furniture giant XXXLutz — one of the three largest retailers in the category worldwide — now operates across 12 European countries, though not yet the U.K.