Retail News
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- UPHOLSTERY
Direct-to-consumer upholstery brand Maker&Son is understood to have found a new investment partner after closing in on a deal that ushers in a new era at the circa £25 million business.
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- RETAIL & DISTRIBUTION
General merchandise retailer Next and lifestyle group Joules are in discussions over an ecommerce collaboration and the former taking a substantial stake in the latter to boost liquidity.
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- ECOMMERCE
Panther Logistics has become the sole delivery partner for My Furniture, the East Midlands based furniture retailer that trades online and from a large Long Eaton showroom.
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- ECOMMERCE
Home goods giant Wayfair will delay market expansion plans in favour of reinforcing its position in the U.K. and Germany amid a tougher macro environment.
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- UPHOLSTERY
Restructuring advisors have been called in to a 75-year-old upholstered furniture vertical that sells through a mix of its own-branded and run showrooms and via third party stockists.
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- ECOMMERCE
A desire to shift excess inventory is encouraging furniture suppliers to lean into Wayfair's marketplace business model while end customers are showing signs of trading down as cost pressures mount.
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- RETAIL & DISTRIBUTION
Major upholstery chain ScS says it still has an elevated order book compared with historic norms with the unwind of existing bookings to help it record profits ahead of market expectations.
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- RETAIL & DISTRIBUTION
Fashion-to-furnishings retailer Next sold more of the former and less of the latter as it experienced a sharp reversal of last year's lockdown trends in the three months to July 30.
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- RETAIL & DISTRIBUTION
Official data shows the attrition rate through the Covid-19 pandemic has been steepest among medium-sized furniture retailers, with those with a turnover above £10 million having maintained their number.
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- RETAIL & DISTRIBUTION
Shares in furniture and homeware retailer Made.com Group plumbed fresh depths with the market capitalisation of the business now close to the value of its most-recently disclosed cash balance.
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- RETAIL & DISTRIBUTION
Senior officials at bedroom and home office furniture chain Sharps retain a significant equity position in the c. £113 million turnover company following its sale by Sun European Partners late last year.
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- BEDS & MATTRESSES
Direct-to-consumer and wholesale company Simba Sleep has launched the Simba Green Organic Go mattress, which it says is a lower impact product with half the carbon emissions of a traditional hybrid mattress.
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- BEDS & MATTRESSES
Restructuring advisors say one of the U.K.'s largest regional bed retailers is keeping to the revised terms of a company voluntary arrangement (CVA) originally agreed with creditors back in 2018.
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- REGIONAL
Narrower gross margin and the write down of a loan balance from a company under common control softened the impact of a return to top line growth for the group behind Andersons of Inverurie last year.
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- RETAIL & DISTRIBUTION
Furniture and homeware brand Amara Living will this month launch its latest private label collection for the autumn winter seasons, with two more planned for early next year.
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- SUPPLY & WHOLESALE
Fewer restrictions and a less onerous lockdown helped the wholly-owned U.K. arm of French furniture brand Ligne Roset return to growth last year.
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- RETAIL & DISTRIBUTION
A major operator of monobrand Natuzzi and other high-profile furniture brand stores across several key locations in the U.K. generated cash and delivered strong profits through 2020/21 trading.
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- TRADE & INDUSTRY
The furniture market worldwide has already rebounded well above pre-pandemic levels according to specialist research consultancy CSIL Centre for Industrial Studies.
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- BEDS & MATTRESSES
The CEO of Tempur Sealy International (TSI) says the number of acquisition candidates worldwide are growing as the world's largest bedding company announced a multi-million dollar investment in an emerging sleep technology platform.
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- SUPPLY & WHOLESALE
Loaf has extended its home delivery contract with Wincanton for another three years, building on an existing partnership between the two companies already lasting the past six years.
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- SUPPLY & WHOLESALE
Profits climbed sharply last year for one of the principal actors in the delivery of bulky flat-pack furniture boxes to U.K. consumers. That was despite a fall in revenue.
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- RETAIL & DISTRIBUTION
Plans to demolish the building housing the one-time Tapi Carpets & Floors store in central London will lead to the creation of a smart new retail store with consents for both furniture and floorcoverings trade.
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- FLOORCOVERINGS
Steve Depport, head of the Metro Group, has been appointed a non-executive director at The Carpet Foundation, the industry group that promotes the use of carpet and those that sell it.
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- UPHOLSTERY
Upholstery destined for customers of Maker&Son is being held back because of slow payment by the £25 million direct-to-consumer brand, which last night made a new court filing that gives it breathing space from creditors.
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- REGIONAL
Thinner gross margin and higher costs impacted furniture trading profits at Surrey retailer Vale Furnishers last year, though an asset disposal meant its net result was still stronger.
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- RETAIL & DISTRIBUTION
Nobilia, Europe's largest kitchen manufacturer, plans to take store numbers beyond 60 for its U.K. franchise brand with the addition of another nine new showrooms.
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- RETAIL & DISTRIBUTION
Restructuring advisors at Kroll say they are still looking to generate bigger returns for the creditors of two historic British upholstery and beds retailers through a legal claim against a payments tech provider.
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- SUPPLY & WHOLESALE
A Warwickshire supplier of outdoor furniture and living products to the likes of NEXT, Made.com and The Conran Shop saw profits jump by almost half last year.
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- RETAIL & DISTRIBUTION
Consumer sentiment towards high-value items such as furniture, white goods and cars has improved for the first time in eight months according to a closely-followed poll.
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- SUPPLY & WHOLESALE
Higher sales and an 810 basis point gross margin swing helped the U.K. wholesale and retail arm of cabinet furniture supplier Kettle Interiors to boost profits last year.
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- RETAIL & DISTRIBUTION
Derek Hayes, whose business acumen, energy and passion saw him grow TR Hayes into one of the largest independent furniture retailers in the country, has died. He was 85.
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- RETAIL & DISTRIBUTION
U.K. sales growth returned in the furniture and lighting category in June according to official retail sales figures out Friday morning from the Office for National Statistics (ONS).
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- RETAIL & DISTRIBUTION
High-end French furniture brand Roche Bobois saw its U.K. business recover compared with last year in the second quarter as shoppers returned to the capital in numbers.
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- TRADE & INDUSTRY
Twice as many furniture, flooring and furnishings companies called in restructuring advisors in the second quarter compared with the same period last year as the market took a downward turn.
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- RETAIL & DISTRIBUTION
Eve Sleep says a number of potential suitors have progressed to due diligence stage as the direct-to-consumer and wholesale brand explores a possible sale of the company.
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- RETAIL & DISTRIBUTION
Furniture and homewares retailer Dunelm has appointed Whitbread Plc CEO Alison Brittain as non-executive director and chair designate, expected to succeed Andy Harrison ahead of the expiry of his nine-year term in just over a year.
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- RETAIL & DISTRIBUTION
The managing director of regional bed chain Sussex Beds has confirmed its next two store locations as it follows through its plan to build an 80-store business within a decade.
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- RETAIL & DISTRIBUTION
Kitchen retailer Magnet has opened the first of three new concept stores ahead of a planned rollout of the format across its nationwide showroom portfolio.
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- REGIONAL
North West whole-home retailer Ashton Discount Warehouse is closing down permanently to facilitate its owners' retirement, bringing an end to almost 60 years in business.
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- SUPPLY & WHOLESALE
The owner of outdoor furniture and living retailer Garden Trading says its bottom line will come in ahead of market expectations as a consequence of additional cost reductions.
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