TOP STORIES

• Elite furniture independents strive for growth amid taxing market

  A third straight decline in the value of furniture invoices processed through the central paying agent of Associated Independent Stores (AIS), whose members include many of the country's top privately-owned retailers, underscore the challenge facing elite traders in the furniture category.

• Casper IPO pricing values mattress company equivalent to £590m

  Mattress retailer and wholesaler Casper Sleep said it expects to raise up to $182.4 million (£140m) from its initial public offering. It follows the filing of its IPO prospectus earlier this month.

• Prestige furniture, home retailer Houseology ceases trading and files for administration

  Houseology, the high-end Internet home and furniture retailer that had accumulated losses north of £9 million at the time of its last public disclosure, has stopped trading and been placed into administration.

• Tempur Sealy enters private label segment after buying Top-10 U.S. bed maker for $40m

  Tempur Sealy International, the world's biggest bedding company, has acquired a majority stake in Sherwood Bedding, one of the largest bed manufacturers in the U.S. and formerly owned by Steinhoff, for $40 million (£31m).

• Emerging mattress companies are redefining what it means to be successful. Literally.

  Since the turn of the year all four of the pre-eminent bed-in-a-box companies operating in the U.K. market have made the news.

• Cotswold Co hires successor to Kevin Johnson, who is stepping down as CEO

  Investment firm True has appointed former N Brown executive Ralph Tucker as chief executive at The Cotswold Company, the major U.K. cabinet furniture retailer with sales north of £50 million.

• Furniture retailer Loaf builds profit momentum

  Upholstery, beds and cabinet furniture retailer Loaf says profits will grow at a faster rate in 2019–20 if it can maintain its performance in the next three months.

• We have grown profitably from cashflow says Emma as sales hit €150m

  Direct-to-consumer mattress company Emma Sleep says worldwide sales near-doubled to €150 million in 2019 with the company making money at the operating line for the second straight year.

• Victoria to repay bank debt as part of £170m refinancing

  Floorcoverings distributor and manufacturer Victoria is to repay all its outstanding senior bank borrowing with the issue of £170 million of corporate bonds.

• Carpet maker books rising sales, profits and describes independents as bedrock of success

  Penthouse Carpets, one of the U.K.'s largest independent floorcoverings manufacturers, posted rising revenue and profits in 2018–19 despite facing headwinds in the market sectors it operates.