Tuesday, June 22, 2021
Mattress Online to open seven stores in three years after bumper growth
Ecommerce bed retailer Mattress Online enjoyed exponential sales and profits growth in the past year and is to up its bricks-and-mortar presence with a store opening programme.
Sun sells furniture retailer Sharps to London based private equity investor
Investment firm Sun European Partners has agreed to sell fitted bedroom and home office furniture retailer Sharps to funds advised by Epiris, a London based private equity investor.
Aldiss was tracking best-ever first half until Covid hit
WJ Aldiss, one of the U.K'.s largest privately-owned furniture retailers, said it remained profitable in 2019–20 despite the 10-week lockdown last March hitting the usually-strong spring promotional period.
Upholstery fabrics supplier to build on legacy of departing md
Sofa fabrics supplier Mobus has paid tribute to md Ian Bostock following his decision to retire, saying he made a huge contribution and that it will look to build on his legacy.
Bricks-and-mortar retail bore brunt of uncertainty over past year, says lighting supplier
Revenue declined for one of the U.K.'s largest suppliers of decorative lighting last year, with it saying that traditional bricks-and-mortar retail was hit first by Brexit uncertainty, which was then accelerated by the pandemic.
Furniture a growth driver for Costco's U.K. online business
Revenue advanced sharply for Costco's U.K. ecommerce business last year powered by growth in categories such as home and office furniture.
Cotswold Co backer owns 10.5% of bedding retailer following investment
Venture capital company True owns 10.5 percent of the voting rights in bedding retailer Bedfolk following its previously-announced investment earlier this year.
Trade-led waste scheme best for mattress sector, Government told
The National Bed Federation (NBF) has told the Government a sector-specific Extended Producer Responsibility (EPR) scheme will work better than adopting a one-size fits all approach in its response to a consultation that will have widespread consequences for the furniture sector.
Large kitchen maker swings back to profit despite Covid
Revenue fell last year for the owner of four well-known British kitchen brands including Chippendale, but costs fell at a faster rate as the group returned to profit and repaid all outstanding bank borrowings.
Home sales slide for Internet, catalogue retailer as pandemic boost fades
The home shopping group behind brands including Home Essentials and JD Williams saw demand for home-related products slide as it annualised the positive impact on trade from the pandemic.
Pandemic clips profits of U.K. arm of furniture giant Herman Miller
Profits fell by more than a third for the U.K. arm of furniture manufacturing conglomerate Herman Miller last year, hit by the pandemic and one-off costs.
Mattress imports recover but remain off historic highs
April saw another eight-figure shipment of mattresses arrive at U.K. ports but the total in the year-to-date remains lower than in comparable periods.
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
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Heal's would have been profitable but for decision not to furlough staff
Surging online demand meant ecommerce represented about half of total revenue last year for Heal's, the designer furniture retailer.
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Sharps says it saw no adverse order impact despite stores shut throughout Q1
A marked channel shift to online meant fitted furniture retailer Sharps saw no negative impact on orders from its shops being shut in the first quarter. It said profits benefitted from lower store...
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B&M says its furniture ranges are now appealing to middle-income households
The pandemic has helped discount store retailer B&M push further into the furniture sector and attract wealthier customers in the process, pitching it against higher-end competition.
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Rent-a-mattress: European bedding giant plans new bed subscription brand
The owner of the M Line mattress wholesale brand that was once ubiquitous across British retail parks is launching a new bed subscription service in the hope of generating lifetime relationships...
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Furniture Village making progress on restoring systems after cybersecurity attack
National retailer Furniture Village says it has implemented workaround solutions and manual processes to limit disruption to the business and customer orders following a cybersecurity incident.
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
Little need for ScS to talk up its share price in period of change
This is a pivotal period in time for ScS, Britain's second largest upholstery retailer, as it adjusts to the departures of a long-time financial backer and its highest ranking executive.
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.
DATA & LISTS
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Debt Report: Entities owed cash by insolvent industry companies: June 18, 2021
Four companies left combined debts of £1.8 million with 15 companies owed £10,000 or more.
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The Insolvency Report: Filings in the week to June 18, 2021
Five insolvencies from within the furniture and furnishings industry were announced in the period from June 12–18, 2021.
TOP STORIES
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Mattress Online to open seven stores in three years after bumper growth
Ecommerce bed retailer Mattress Online enjoyed exponential sales and profits growth in the past year and is to up its bricks-and-mortar presence with a store opening programme.
-
Sun sells furniture retailer Sharps to London based private equity investor
Investment firm Sun European Partners has agreed to sell fitted bedroom and home office furniture retailer Sharps to funds advised by Epiris, a London based private equity investor.
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Internet represented 57% of delivered U.K. furniture turnover in Q1
Ecommerce boosted furniture retail sales in the first quarter but U.K. retailers still unwound more than £800 million of orders taken in stores before Christmas thanks to deliveries being allowed to continue.
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Neptune wholesale unit finds growth amid pandemic
Revenue was flat at the wholly-owned retail arm of furniture and interiors brand Neptune in the year to September but its wholesale division, which also supplies third party retailers and franchisees, found growth.
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U.K. furniture sales more than a third higher on two-year basis
Furniture and lighting sales rocketed in May as U.K. retailers continued to bounce back strongly from early year restrictions on in store trading.
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Seven-figure VAT refund following bedco prepack 10 years ago
U.K. tax authorities have refunded just over £1 million in VAT as restructuring advisors continue to work on the estate of the predecessor company to Silentnight, whose business and assets were sold in a prepack deal ten years ago.
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Furniture retail price inflation hits highest level in almost five years
Consumer price inflation for furniture and furnishings reached its highest level since late 2016 last month as retailers passed on the effects of rising costs through the supply chain.
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Julian Bowen books higher profits on rising sales, cost discipline
A year-end buffeted by Covid failed to prevent furniture wholesaler Julian Bowen finding double-digit revenue and profits growth last year.
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Upholstery imports up 10% on 2019 despite Q1 store shutdowns
Ships rammed front-to-back with upholstery landed on U.K. shores in the first four months of 2021 with imports up 43 percent year-on-year and 10 percent on a more comparable two-year basis.
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Pricing gives Made.com expected market cap of £775.3m
Furniture retailer Made.com has announced the pricing of its initial public offering (IPO) at 200 pence per share, valuing the business at about £775.3 million.
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OTHER NEWS
Aldiss was tracking best-ever first half until Covid hit
WJ Aldiss, one of the U.K'.s largest privately-owned furniture retailers, said it remained profitable in 2019–20 despite the 10-week lockdown last March hitting the usually-strong spring promotional period.
Upholstery fabrics supplier to build on legacy of departing md
Sofa fabrics supplier Mobus has paid tribute to md Ian Bostock following his decision to retire, saying he made a huge contribution and that it will look to build on his legacy.
Bricks-and-mortar retail bore brunt of uncertainty over past year, says lighting supplier
Revenue declined for one of the U.K.'s largest suppliers of decorative lighting last year, with it saying that traditional bricks-and-mortar retail was hit first by Brexit uncertainty, which was then accelerated by the pandemic.
Furniture a growth driver for Costco's U.K. online business
Revenue advanced sharply for Costco's U.K. ecommerce business last year powered by growth in categories such as home and office furniture.
Cotswold Co backer owns 10.5% of bedding retailer following investment
Venture capital company True owns 10.5 percent of the voting rights in bedding retailer Bedfolk following its previously-announced investment earlier this year.
Trade-led waste scheme best for mattress sector, Government told
The National Bed Federation (NBF) has told the Government a sector-specific Extended Producer Responsibility (EPR) scheme will work better than adopting a one-size fits all approach in its response to a consultation that will have widespread consequences for the furniture sector.
Large kitchen maker swings back to profit despite Covid
Revenue fell last year for the owner of four well-known British kitchen brands including Chippendale, but costs fell at a faster rate as the group returned to profit and repaid all outstanding bank borrowings.
Home sales slide for Internet, catalogue retailer as pandemic boost fades
The home shopping group behind brands including Home Essentials and JD Williams saw demand for home-related products slide as it annualised the positive impact on trade from the pandemic.
Pandemic clips profits of U.K. arm of furniture giant Herman Miller
Profits fell by more than a third for the U.K. arm of furniture manufacturing conglomerate Herman Miller last year, hit by the pandemic and one-off costs.
Mattress imports recover but remain off historic highs
April saw another eight-figure shipment of mattresses arrive at U.K. ports but the total in the year-to-date remains lower than in comparable periods.