Thursday, November 21, 2019
TOP STORIES
Goodbye Steinhoff, Hello Blue Group
The new name for Steinhoff's divested U.K. furniture and beds operations explained, and why the deal differs from some the South African conglomerate has completed in recent times.
Tempur Sealy eyes markets 'beyond bedding' after agreeing licensing tie-up
Tempur Sealy International, the world's largest bedding company, has appointed IMG as its global licensing representative as it looks to secure lucrative deals to take its brands into new product categories.
Industrial action at carpet maker Westex over pay
An unspecified number of workers at West Yorkshire carpet manufacturer Westex were due to go on strike yesterday (Nov. 19) in a dispute over pay according to Unite, the trade union.
Owner of Dreams, Sharps and shareholder in ScS eyes Clipper Logistics
Clipper, the specialist in retail and high-value logistics which lists John Lewis among its customers, says it has received a preliminary takeover approach from private equity group Sun European Partners.
B&Q cites kitchens impact and exit from fitting services for Q3 slide
Home improvement retailer B&Q said sales in the U.K. and Ireland dropped in the third quarter because of new-product launch implementation and its decision to stop installing merchandise such as kitchens.
Home growth returns for John Lewis but weak electricals short-circuits overall sales
John Lewis & Partners put four straight home revenue declines to bed last week in an otherwise challenging seven-day stretch for the department store chain.
Cabinet furniture maker swings to profit on higher sales, wider margins
Yorkshire cabinet furniture manufacturer Ellis returned to profit in 2018–19 after it grew sales and transformed margins following a series of investments and business improvements.
High-end rug maker with worldwide sales of £50m launching to U.K. retailers next month
An India and U.S. based rug maker that supplies companies including Restoration Hardware (RH), Anthropologie and Soho House is launching into the U.K. market for the first time.
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.
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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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.
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Modest pre-Brexit stock build gives carpet giant Balta a lift
Belgian carpet maker Balta Group sold more in the third quarter after improved sales in its commercial business and as a result of some of its British customers making preparations for Brexit.
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New stores and online help IKEA shrug off footfall decline in U.K.
IKEA's Internet business in Britain is now worth more than £400 million in annual sales after more of its customers shopped online in 2018–19 but fewer walked its vast stores across the country.
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
Goodbye Steinhoff, Hello Blue Group
The new name for Steinhoff's divested U.K. furniture and beds operations explained, and why the deal differs from some the South African conglomerate has completed in recent times.
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.
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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Goodbye Steinhoff, Hello Blue Group
The new name for Steinhoff's divested U.K. furniture and beds operations explained, and why the deal differs from some the South African conglomerate has completed in recent times.
-
Tempur Sealy eyes markets 'beyond bedding' after agreeing licensing tie-up
Tempur Sealy International, the world's largest bedding company, has appointed IMG as its global licensing representative as it looks to secure lucrative deals to take its brands into new product categories.
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Sofology introduces Green Friday, vowing to plant a tree for every sofa it sells
Upholstery specialist Sofology says it will turn Black Friday green by launching its own initiative — called Green Friday — in partnership with the Woodland Trust, the U.K.'s largest tree conservation charity.
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Report outlines creditor shortfall at North East beds retail chain following autumn insolvency
The insolvency of Monomarket, the North East company that ran a number of regional bedding centres and a prominent online store selling beds, leaves creditors facing a high six-figure shortfall, according to a new report.
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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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OTHER NEWS
Industrial action at carpet maker Westex over pay
An unspecified number of workers at West Yorkshire carpet manufacturer Westex were due to go on strike yesterday (Nov. 19) in a dispute over pay according to Unite, the trade union.
Owner of Dreams, Sharps and shareholder in ScS eyes Clipper Logistics
Clipper, the specialist in retail and high-value logistics which lists John Lewis among its customers, says it has received a preliminary takeover approach from private equity group Sun European Partners.
B&Q cites kitchens impact and exit from fitting services for Q3 slide
Home improvement retailer B&Q said sales in the U.K. and Ireland dropped in the third quarter because of new-product launch implementation and its decision to stop installing merchandise such as kitchens.
Home growth returns for John Lewis but weak electricals short-circuits overall sales
John Lewis & Partners put four straight home revenue declines to bed last week in an otherwise challenging seven-day stretch for the department store chain.
Cabinet furniture maker swings to profit on higher sales, wider margins
Yorkshire cabinet furniture manufacturer Ellis returned to profit in 2018–19 after it grew sales and transformed margins following a series of investments and business improvements.
High-end rug maker with worldwide sales of £50m launching to U.K. retailers next month
An India and U.S. based rug maker that supplies companies including Restoration Hardware (RH), Anthropologie and Soho House is launching into the U.K. market for the first time.
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.