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Saturday, December 15, 2018

Cotswold Co sales jump, says rivals less able to absorb rising costs

cotswoldCoNorwich

Clicks-to-bricks furniture retailer The Cotswold Company says its business model of buying direct from factories leaves it better placed to weather cost inflation. It follows bumper sales growth but squeezed margins in 2017–18.

Welcome Furniture discloses value of 2017 partial MBO

Welsh cabinet furniture manufacturer completed partial management buyout in 2017.

First rise in wood living, dining, bedroom cabinet imports since March

flatPackFurnitureFW DP

Imports of timber living, dining and bedroom cabinet furniture advanced for the first time since March as retailers and distributors stocked up at the beginning of the fourth quarter, new figures show.

Conran Shop plans Korean stores after tie-up with local retail partner

The Conran Shop will open its first stores in South Korea after agreeing a partnership with Lotte Department Store, a major retailer operating across the Korean Peninsula and Far East.

Laura Ashley chairman stepping down after 19 years

Tan Sri Dr Khoo Kay Peng, the prominent Malaysian businessman who has chaired furniture-to-fashion retailer Laura Ashley since 1999, is retiring from the role and the company's board.

Philip George joins Furmanac with Stuart Page to leave for new venture

Motion beds and upholstery maker Furmanac has appointed Philip George as national sales manager. Sales director Stuart Page is to leave at the end of the year for personal reasons.

Early Q4 mattress imports climb, but below year-to-date trend

mattressStorage

British retailers and distributors imported more foreign-made foam and sprung mattresses at the beginning of the fourth quarter, but the rate slowed compared with the year so far.

IKEA takes new town centre format to Southeast London

Home furnishings giant names second location for its new urban planning studio format.

Sales rise, profits fall at direct-to-consumer adjustable furniture maker

The diversified group behind adjustable beds and chair maker Ashley Anderson posted lower profits despite rising sales in the year to February 28, 2018.

Carpet imports outperform in October as emerging markets deliver

carpetsYarnGenFW

Woven and tufted carpet imports into the UK were ahead of the year-to-date trend in October as emerging suppliers outperformed historically important source nations such as Belgium.

Millbrook Beds to exhibit at January Furniture Show

Southampton based Millbrook has become the latest bed maker to sign to exhibit at the January Furniture Show, which takes place next month at the NEC.

Carpetright books half year loss amid downsizing

carpetrightPW Cr

Carpetright, Britain's biggest carpets and flooring retailer, booked a £12 million net loss for the six months to October 27 during which it closed stores and deleveraged.

INTELLIGENCE

Market Data

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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

Wesley Barrell shuts Guildford showroom while it squares issues with landlord
Premium upholstery retailer Wesley Barrell has temporarily closed one of its showrooms while it resolves property maintenance concerns with the store landlord.
Sleepeezee to spend nearly £3m in bid to double brand awareness
Bed maker Sleepeezee is to allocate nearly £3 million towards building up brand awareness among consumers as it looks to get more customers asking for its products by name in partner retail stores.
DFS beefs up shopping centre portfolio with White City unit
DFS has opened a new store at Westfield White City in London, one of only a handful of stores based in shopping centres for the UK upholstery market leader.
Profits up 77% for furnishings chain Harry Corry after landlord CVA
Sales and profits jumped for furniture and furnishings chain Harry Corry Interiors in the first period since it finished its landlord-only Company Voluntary Arrangement (CVA) which it had seen it...
Analysis: Charting John Lewis' most important week of the year
Sales at department store retailer John Lewis & Partners topped £230 million last week, which included Black Friday, making it the highest grossing week in its 154-year history.

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

Worth less, but not worthless. Sofa.com has shed some of its problems

Sofa.com's headline numbers for 2017–18 are less than impressive but there are mitigating factors and reasons to believe its new owner is not watering a dead plant.

Perspective: Why independent furniture retailers have a bright future — Cookes md

James Pike on the future for Cookes and other multi-generational independent retailers.

Analysis: Charting John Lewis' most important week of the year

Sales at department store retailer John Lewis & Partners topped £230 million last week, which included Black Friday, making it the highest grossing week in its 154-year history.

Nasons might have been one of Britain's best retailers. It still might.

"From July, Nasons will have its own website," the independent retailer wrote in accounts filed 13 long years ago.

LATEST

First rise in wood living, dining, bedroom cabinet imports since March
Imports of timber living, dining and bedroom cabinet furniture advanced for the first time since March as retailers and distributors stocked up at the beginning of the fourth quarter, new figures show.
Conran Shop plans Korean stores after tie-up with local retail partner
The Conran Shop will open its first stores in South Korea after agreeing a partnership with Lotte Department Store, a major retailer operating across the Korean Peninsula and Far East.

IN DEPTH

Maintaining a positive profile can be key to survival

Jan Turner looks at what companies need to do to stay ahead of the game.

DATA & LISTS

Debt Report: December 14, 2018
Today's list contains five insolvent companies leaving combined debts of £3,691,555. Names all 29 creditors owed £10,000 or more.
Industry insolvencies in the week to December 13, 2018
Five insolvencies from within the furniture and furnishings industry were announced in the period December 10–13, 2018.
Debt Report: December 10, 2018
Today's list contains five insolvent companies leaving combined debts of £1,368.598. Names all 20 creditors owed £10,000 or more.
Industry insolvencies in the seven days to December 9, 2018
Five insolvencies from within the furniture and furnishings industry were announced in the period December 1–9, 2018.

TOP STORIES

Cotswold Co sales jump, says rivals less able to absorb rising costs
Clicks-to-bricks furniture retailer The Cotswold Company says its business model of buying direct from factories leaves it better placed to weather cost inflation. It follows bumper sales growth but squeezed margins in 2017–18.
Welcome Furniture discloses value of 2017 partial MBO
Welsh cabinet furniture manufacturer completed partial management buyout in 2017.
Wesley Barrell's Birmingham showroom shut, others relocating
The Birmingham showroom of premium upholstery maker and retailer Wesley Barrell has closed a little over a year after it opened, while others in its network are to shut and reopen in nearby units.
House of Fraser posts £31.6m loss in under three months
Department store chain House of Fraser booked early trading losses under its new owner as sales were impacted by the temporary inability to trade online.
Upholstery upswing as Chinese shipments jump for first time this year
Retailers upped stocks of foreign-made upholstery at the beginning of the peak trading quarter with a first rise in sofa shipments from China in the entire year so far.
Quality Street popular, but John Lewis home sales no cause for Celebrations last week
Big-ticket categories were absent from John Lewis & Partners list of weekly best-sellers with the retailer citing seasonal Christmas categories including Gift Food as home overall had another sticky week.
Competition watchdog probes Headlam's South East flooring takeovers
Wholesale giant Headlam Group says it is "engaging fully" with the Competition and Markets Authority after the watchdog said it was investigating the company's already-completed takeovers of three South East floorcoverings distributors.
John Lewis md opens Harrison Spinks new Innovation Centre
John Lewis & Partners managing director Paula Nickolds was guest of honour as bed manufacturer Harrison Spinks officially opened its new £2.5 million Innovation Centre at its Leeds headquarters last Friday.
Forrest helps Sterling Furniture to fifth straight sales climb
Sterling Furniture Group maintained its upwards sales trajectory in 2017–18 with management saying the climb reflected a first full year's inclusion of the Glasgow retailer it bought two years ago.
Sofa.com reports £38m loss after vast asset writedown
Upholstery vertical Sofa.com booked a consolidated net loss of £38.4 million in the period leading up its change of ownership this summer, largely the result of management writing down the carrying value of its assets.