Friday, July 1, 2022
Cost savings deliver for furniture importer Bentley, but challenges remain
EBITDA was almost two thirds higher for Bentley Designs last year as the furniture importer deleveraged after it kept a tight rein on costs and revenue recovered, countering weaker gross margin.
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Pent up demand lifts Hatfields as it moves closer to online launch
Furniture retailer Hatfields says it remains focused on delivering an online trading platform before the end of March next year as the reopening of stores after the latest Covid lockdown helped it recover sales lost to enforced closure.
One-time Silentnight suitor raises £100m targeting new deals
Endless, a serial backer and bidder for home interest companies over the past decade, has raised £100 million from investors as it targets a new raft of buyouts.
Flooring group Likewise to near double warehousing capacity
Construction is underway at distribution centres in Scotland and the Midlands as national flooring wholesaler Likewise Group looks to double its logistics capacity this year.
Fitted furniture vertical trebles profits
Profits climbed three-fold for Wales based fitted kitchens, bedroom and home office manufacturer and retailer Sigma 3 last year as it more than reversed a sales decline through the first year of Covid.
Dunelm supplier builds capacity amid growth return
Stock levels at Cleland McIver more than doubled by the end of its 2020/21 financial year as the soft furnishings supplier invested further in distribution capacity with a new 75,000sqft facility.
Profits hit 7-year high for furniture importer despite shipping costs hike
Lincolnshire cabinet importer and wholesaler Classic Furniture battled rising shipping costs and limited container slot availability as it booked its highest profits since 2014 last year.
Upmarket £40m flooring brand plans fifth retail showroom
Wood flooring specialist Havwoods will open its second store this year and its fifth overall as it continues expanding its retail footprint in wealthy parts of the country.
Negative working capital position cut at high-end interiors group
Linley, the prestige London furniture and interiors group, says it is on a solid footing and demonstrably able to trade successfully after a year in which the structural economics of the business improved.
Granary furniture store owner drafts in new chief operating officer amid board change
Jarrold & Son, the historic department store and furniture retailer, has hired a new chief operating officer amid wider board change at the diversified East of England retail and services group.
Wade Spring md says exports and engineering drove performance
The md of furniture components supplier Wade Spring says the combination of new export business and an expanded engineering offer were a major driver in increased profitability last year.
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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Owner of private-label sofa maker acquires Sofa Workshop brand and I.P.
Well-known upholstery industry executive Daniel Feltham-White has acquired sought-after intellectual property of historic retail brand Sofa Workshop.
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Hypnos group generated cash as it worked through supply chain challenges
Keen & Toms Holdings, parent to bed maker Hypnos and white glove delivery company Keen & Able, remained cashflow positive through the height of the pandemic as supply chain challenges hindered its...
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Upholstery buyers look to Europe as Chinese volumes sink
Upholstery import volumes from China fell by almost a quarter in April as retailers and wholesalers grappled with the rising cost of shipping products in from the country.
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Actona buys SITS in £180m build out of upholstery revenues
Actona has agreed to buy Polish sofa maker SITS in a deal that means the design, wholesale and manufacturing group has added about £180 million in upholstery revenue through acquisitions in the past year...
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Top-end bed maker Savoir generates cash on higher sales, wider margins
Premium bed maker Savoir repaid debt, built cash and found gross margin gains as it worked through a bulging worldwide order book last year.
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
DATA & LISTS
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Gillies' Grampian takeover redraws the map of Scottish independents again
Six years ago, all four of the stores in the Gillies of Broughty Ferry network could be reached within a hour and half's drive up the east coast of Scotland, starting in Perth and finishing in Aberdeen.
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Share buyback looks a cheap deal for furniture wholesaler
Ownership concentration comes at low earnings multiple for Market Rasen furniture wholesaler Classic.
TOP STORIES
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Cost savings deliver for furniture importer Bentley, but challenges remain
EBITDA was almost two thirds higher for Bentley Designs last year as the furniture importer deleveraged after it kept a tight rein on costs and revenue recovered, countering weaker gross margin.
-
Volume cabinet maker Symphony signposts £44m capex investment
Kitchen, bedroom and bathroom furniture giant Symphony is making a ten-figure outlay as it invests in the build out of its vast manufacturing plant in South Yorkshire.
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Upholstery topco to follow subsidiary in exiting administration
Creditors have backed a company voluntary arrangement (CVA) that puts an end to a two-year administration process for a one-time £55 million upholstery group.
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Heal's takes former Sofa Workshop unit as it relocates outlet store
Designer furniture and homeware retailer Heal's has opened a new clearance unit on the King's Road, London in a space that was until late 2020 occupied by upholstery retailer Sofa Workshop.
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£88m flooring group names successor to outgoing CEO Lisa Tomlin
National floorcoverings distributor Carpet & Flooring has appointed a new md with a raft of home improvement industry experience following the planned departure of longtime leader Lisa Tomlin.
ANNOUNCEMENT
Furn Companies Wanted
Ex-furniture director seeks to buy companies mfr/retailer/wsalers—solvent or otherwise—regardless of situation. Can complete within days. Confidentiality assured.
07498 850842 | This email address is being protected from spambots. You need JavaScript enabled to view it.
OTHER NEWS
Pent up demand lifts Hatfields as it moves closer to online launch
Furniture retailer Hatfields says it remains focused on delivering an online trading platform before the end of March next year as the reopening of stores after the latest Covid lockdown helped it recover sales lost to enforced closure.
One-time Silentnight suitor raises £100m targeting new deals
Endless, a serial backer and bidder for home interest companies over the past decade, has raised £100 million from investors as it targets a new raft of buyouts.
Flooring group Likewise to near double warehousing capacity
Construction is underway at distribution centres in Scotland and the Midlands as national flooring wholesaler Likewise Group looks to double its logistics capacity this year.
Fitted furniture vertical trebles profits
Profits climbed three-fold for Wales based fitted kitchens, bedroom and home office manufacturer and retailer Sigma 3 last year as it more than reversed a sales decline through the first year of Covid.
Dunelm supplier builds capacity amid growth return
Stock levels at Cleland McIver more than doubled by the end of its 2020/21 financial year as the soft furnishings supplier invested further in distribution capacity with a new 75,000sqft facility.
Profits hit 7-year high for furniture importer despite shipping costs hike
Lincolnshire cabinet importer and wholesaler Classic Furniture battled rising shipping costs and limited container slot availability as it booked its highest profits since 2014 last year.
Upmarket £40m flooring brand plans fifth retail showroom
Wood flooring specialist Havwoods will open its second store this year and its fifth overall as it continues expanding its retail footprint in wealthy parts of the country.
Negative working capital position cut at high-end interiors group
Linley, the prestige London furniture and interiors group, says it is on a solid footing and demonstrably able to trade successfully after a year in which the structural economics of the business improved.
Granary furniture store owner drafts in new chief operating officer amid board change
Jarrold & Son, the historic department store and furniture retailer, has hired a new chief operating officer amid wider board change at the diversified East of England retail and services group.
Wade Spring md says exports and engineering drove performance
The md of furniture components supplier Wade Spring says the combination of new export business and an expanded engineering offer were a major driver in increased profitability last year.