Wednesday, October 16, 2019
TOP STORIES
Bedding industry supplier Latexco plots 'factory of the future' after buying 807,000sqft site
Latexco says the acquisition of a 7.5 hectare site near its existing plants in Belgium can aid its transition from a traditional latex supplier into a 'one stop shop of comfort.'
John Lewis enjoys best home run in over two years after earlier price cuts
Home sales advanced for the third straight week at John Lewis & Partners in the seven days to October 12, its longest consecutive run of growth for the category since August 2017.
Recor eyes U.K. market after appointing Litmus as principal agent
Litmus Furniture has been appointed principal agent for England, Wales and Ireland by Recor, the Belgian furniture maker that once listed the U.K. among its biggest markets.
Cost pressures ease, helping foam giant Carpenter repair margins
Profits doubled for the U.K. arm of global foam manufacturer and converter Carpenter in 2018, lifted by a "slight softening in some raw material costs" and higher sales.
Wayfair launches first flagship brand for U.K. business
Ecommerce home furnishings giant Wayfair has launched a 700-piece curated collection that it is describing as the first flagship brand for its European business.
Expanding flooring retailer opens first store in England's North West
Flooring Superstore, the expanding retail fascia owned by Connection Flooring, will this weekend open its first store in the North West of England.
Furniture maker Fuse eyes growth after funding boost
A dozen new workers have joined Blackburn cabinet maker Fuse Furniture after the company received funding and business support from Boost, Lancashire's Business Growth Hub.
Restructuring costs weigh on Walker Greenbank half-year profits
Interim earnings fell 15 percent at soft furnishings company Walker Greenbank after it incurred restructuring costs following a site closure.
Herman Miller buys controlling stake in Hay, boosting residential furniture credentials
Furniture conglomerate Herman Miller has more than doubled its shareholding in Hay, the Danish contemporary furniture company, in a deal worth the equivalent of £54 million.
Former beds retail executive promoted to CFO after longtime Laura Ashley finance chief exits
Seán Anglim, executive director, finance director and joint chief operating officer, has resigned all three posts at Laura Ashley, the furniture-to-fashion retailer.
BFM recruits events specialist with eye on developing more fabric shows
Events and administration specialist Niki Rodhouse has joined British Furniture Manufacturers (BFM) to support the trade association's expanding calendar of activities across the sector.
Retail park footfall inches up as tumbleweed blows through shopping centres, high streets
Retail footfall declined again in September as consumers shunned high streets and shopping centres. Shopping parks, home to many furniture chains, fared better.
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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DFS agrees access to additional £20m of credit
Upholstery market leader DFS has this month increased the size of its revolving credit facility by £20 million "to reflect the increased scale of the group's operating activities."
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Vispring profits rise despite second straight sales fall
Manufacturing efficiencies and exports helped offset weaker domestic U.K. sales last year at Vispring, the luxury Devon bed manufacturer.
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Fifth U.K. Natuzzi Editions store opens amid challenges worldwide
Natuzzi added a fifth U.K. store for its Editions brand on Saturday, a day after the Italian upholstery giant released second quarter figures that reflected myriad challenges across the globe.
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Westbridge revenue trend mirrors U.K. upholstery market in 2018
The revenue trend at Westbridge, Britain's largest non retailer-owned sofa maker, reflected the wider U.K. upholstery market last year.
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U.K. board controls sofa maker Lebus after Dutch majority shareholder cuts stake
The Dutch majority owner of Lebus Upholstery has reduced its stake in a long-planned transaction that hands control of the Lincolnshire sofa manufacturer to its U.K. board.
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
Furniture analytica: a window into the home of every one of your customers
The more we know about our customers, the more likely we can design, source and offer products and services which best meet their needs.
Elite independent furniture retailers continue to invest
Hatfields of Colchester will today (Oct. 5) officially relaunch its Peartree Road showrooms, unveiling the new-look façade it has been working on since the beginning of the year.
Gardiner's new roots underscore threat (and opportunity) for independent furniture retail
Gardiner Haskins, the heritage home improvement retail brand based in the South West of England, restructured its business last year with the closure of its large Bristol shop based in the iconic Grade II listed Soapworks building.
Eve's merger with Simba is off but consolidation still looks inevitable
Shares in Eve Sleep changed hands for the first time in over a month yesterday (Sep. 20) after the direct-to-consumer mattress brand said early-stage merger talks with Simba had come to nothing.
DATA & LISTS
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Who's gone bust: Corporate bankruptcy in the week to October 11, 2019
Five insolvencies from within the furniture and furnishings industry were announced in the period October 5–11, 2019.
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Debt Report: Creditors owed money by insolvent furniture industry businesses — October 11, 2019
Today's list contains five insolvent companies leaving combined debts of c. £2.9 million. Names all 45 creditors owed £10,000 or more.
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Beales: Bigger losses, better cashflow
Department store chain Beales recorded a wider deficit in 2018 –19 yet ended the year with more cash. How so?
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Corporate Insolvency: Liquidator appointments in the week to October 4, 2019
Three insolvencies from within the furniture and furnishings industry were announced in the period September 29–October 4, 2019.
TOP STORIES
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Bedding industry supplier Latexco plots 'factory of the future' after buying 807,000sqft site
Latexco says the acquisition of a 7.5 hectare site near its existing plants in Belgium can aid its transition from a traditional latex supplier into a 'one stop shop of comfort.'
-
John Lewis enjoys best home run in over two years after earlier price cuts
Home sales advanced for the third straight week at John Lewis & Partners in the seven days to October 12, its longest consecutive run of growth for the category since August 2017.
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Loaf sales up 16% as profits edge forward, tempered by one-off costs
The company behind clicks-to-bricks furniture retailer Loaf chalked up further double-digit sales growth in the year to March 31, returning to profit growth in the process.
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Asian investor with bedding sector ties agrees to buy 849-store European bed retailer
Beter Bed Holding has found a buyer for its troubled Matratzen Concord chain of 849 bed shops across Germany, Austria and Switzerland.
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Simba booked £43.7m net loss for 15 months to end 2018
Accumulated losses at Simba Sleep reached nearly £75 million by the end of 2018, just-filed accounts from the mattress-in-a-box and sleep accessories company reveal.
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Chinese upholstery imports into U.K. continue year-long surge
Upholstery imports into the U.K. grew at a faster pace in August after shipments from China jumped by a more than a third.
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Alexander and James was fastest growing U.K. sofa brand for Thai group last year
Profits climbed for the group behind British sofa brands Alexander and James, Ashley Manor and import business AMX Design last year, driven by growth and wider margins.
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Rare drop from Poland hits mattress import figures into U.K.
Mattress imports into the U.K. declined in August on weaker figures from Poland, Ireland and Italy, new figures show.
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Gallery Direct finds margin after restructuring bed making unit
Furniture, beds and home accents distributor Gallery Direct recorded bigger profits in 2018, shrugging off the impact of a dip in group-wide U.K. sales.
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Furniture retailer Made.com cash generative for second straight year
After posting its first-ever cash generative year in 2017, Made.com repeated the feat last year. But the fast-growing furniture retailer remained lossmaking.
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OTHER NEWS
Recor eyes U.K. market after appointing Litmus as principal agent
Litmus Furniture has been appointed principal agent for England, Wales and Ireland by Recor, the Belgian furniture maker that once listed the U.K. among its biggest markets.
Cost pressures ease, helping foam giant Carpenter repair margins
Profits doubled for the U.K. arm of global foam manufacturer and converter Carpenter in 2018, lifted by a "slight softening in some raw material costs" and higher sales.
Wayfair launches first flagship brand for U.K. business
Ecommerce home furnishings giant Wayfair has launched a 700-piece curated collection that it is describing as the first flagship brand for its European business.
Expanding flooring retailer opens first store in England's North West
Flooring Superstore, the expanding retail fascia owned by Connection Flooring, will this weekend open its first store in the North West of England.
Furniture maker Fuse eyes growth after funding boost
A dozen new workers have joined Blackburn cabinet maker Fuse Furniture after the company received funding and business support from Boost, Lancashire's Business Growth Hub.
Restructuring costs weigh on Walker Greenbank half-year profits
Interim earnings fell 15 percent at soft furnishings company Walker Greenbank after it incurred restructuring costs following a site closure.
Herman Miller buys controlling stake in Hay, boosting residential furniture credentials
Furniture conglomerate Herman Miller has more than doubled its shareholding in Hay, the Danish contemporary furniture company, in a deal worth the equivalent of £54 million.
Former beds retail executive promoted to CFO after longtime Laura Ashley finance chief exits
Seán Anglim, executive director, finance director and joint chief operating officer, has resigned all three posts at Laura Ashley, the furniture-to-fashion retailer.
BFM recruits events specialist with eye on developing more fabric shows
Events and administration specialist Niki Rodhouse has joined British Furniture Manufacturers (BFM) to support the trade association's expanding calendar of activities across the sector.
Retail park footfall inches up as tumbleweed blows through shopping centres, high streets
Retail footfall declined again in September as consumers shunned high streets and shopping centres. Shopping parks, home to many furniture chains, fared better.