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Britain imported more from both Vietnam and China
Imports of timber living, dining and bedroom cabinet furniture advanced for the first time since March as retailers and distributors stocked up at the beginning of the fourth quarter, new figures show.
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The Cotswold Company's Norwich showroom
Clicks-to-bricks furniture retailer The Cotswold Company says its business model of buying direct from factories leaves it better placed to weather cost inflation. It follows bumper sales growth but squeezed margins in 2017–18.
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Welsh cabinet furniture manufacturer completed partial management buyout in 2017.
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- INTERNATIONAL |
The Conran Shop will open its first stores in South Korea after agreeing a partnership with Lotte Department Store, a major retailer operating across the Korean Peninsula and Far East.
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- RETAIL & DISTRIBUTION |
Tan Sri Dr Khoo Kay Peng, the prominent Malaysian businessman who has chaired furniture-to-fashion retailer Laura Ashley since 1999, is retiring from the role and the company's board.
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- RETAIL & DISTRIBUTION |
House of Fraser will be challenging to turn around, new owner Sports Direct says
Department store chain House of Fraser booked early trading losses under its new owner as sales were impacted by the temporary inability to trade online.
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- RETAIL & DISTRIBUTION |
Home furnishings giant names second location for its new urban planning studio format.
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- RETAIL & DISTRIBUTION |
The diversified group behind adjustable beds and chair maker Ashley Anderson posted lower profits despite rising sales in the year to February 28, 2018.
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- RETAIL & DISTRIBUTION |
Big-ticket categories were absent from John Lewis & Partners list of weekly best-sellers with the retailer citing seasonal Christmas categories including Gift Food as home overall had another sticky week.
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- RETAIL & DISTRIBUTION |
Sterling Furniture's flagship Tillicoultry headquarters
Sterling Furniture Group maintained its upwards sales trajectory in 2017–18 with management saying the climb reflected a first full year's inclusion of the Glasgow retailer it bought two years ago.
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Leekes says kitchens, bathrooms and conservatories have been winning categories for the home department store retailer in the first half of its 2018–19 financial year.
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Steinhoff International Holdings says the outcome of PwC's forensic investigation into historic accounting irregularities will not be ready as soon as hoped, forcing it to delay releasing audited 2017 and 2018 accounts until spring next year.
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- RETAIL & DISTRIBUTION |
Multi-million pound property deal preceded Beales lease assignment.
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- RETAIL & DISTRIBUTION |
General merchandise giant Argos is scoping out the launch of an interest-free credit offer as it considers new ways of using finance to drive sales of higher-ticket furniture goods.
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- SUPPLY & WHOLESALE |
Heritage brand Nathan has moved all furniture production and finishing to the Indonesian factory that has been manufacturing its entire Shades collection since 2011.
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- RETAIL & DISTRIBUTION |
New non-executives join DFS board
Upholstery market leader DFS has appointed Travelodge CFO Jo Boydell and 20-year retail veteran Steve Johnson to its board as independent non-executive directors.
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- RETAIL & DISTRIBUTION |
Sales growth disappeared for John Lewis & Partners in the week after Black Friday as the impact of launching offers earlier left it unable to match prior-year trade. Home was the worst-performing category.
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- ECOMMERCE |
Ecommerce giant Wayfair is planning to build a larger UK distribution centre in the East Midlands as it looks to keep pace with the rapid growth of its British operation.
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- REGIONAL |
Cookes Furniture's Erdington, Birmingham store
Longstanding Midlands and Dorset furniture retailer Cookes says investments made over the past three years have impacted near-term profits but helped it to diversify and broaden its appeal for the next generation.
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Pure CF has been restructured via a prepack administration process in a transaction that saves the jobs of all of the contract furniture maker's employees.
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- RETAIL & DISTRIBUTION |
Online sales helped boost November figures
Like-for-like retail sales dipped in November according to the British Retail Consortium with more spend transferring online as Black Friday promotions become "increasingly digital."
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- SUPPLY & WHOLESALE |
Premium kitchen makers Smallbone of Devizes and Mark Wilkinson Furniture have been sold to a high net worth American investor in a prepack deal that secures the near-term future of both heritage brands.
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- SUPPLY & WHOLESALE |
Contract furniture maker Godfrey Syrett has told employees that it could close one of its sites in the North East in order to secure the business' near to mid-term future.
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- RETAIL & DISTRIBUTION |
House of Fraser's Kendals store at Deansgate, Manchester
House of Fraser says its Kendals store in Manchester — slated to close because it couldn't agree new terms with the landlord — will now not shut after it belatedly struck an accord with the building owner.
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Beales, based at Bournemouth, now has 23 stores nationwide
Beales, the department store chain recently bought by its chief executive Tony Brown, has completed a buyout of two-store East of England retailer Palmers, a deal that had been in the pipeline since the summer.
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Wayfair, the American ecommerce giant fast becoming one of the UK's largest furniture retailers, has raised $500 million (£391m) from bond investors through the issue of convertible notes.
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- REGIONAL |
Peter Green's store at Chandler's Ford, Hampshire
Hampshire based Peter Green, one of the country's largest independent single-store furniture retailers, posted skinnier profits as sales declined in the year to March 31, 2018.
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- RETAIL & DISTRIBUTION |
Global home furnishings retailer IKEA says it plans to absorb the cost of transforming its business over the next few years at the expense of the bottom line.
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- RETAIL & DISTRIBUTION |
Seasoned retail executive Nigel Oddy is to leave his post as CEO of circa 150-store home and leisure chain The Range, according to trade journal Retail Week.
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- RETAIL & DISTRIBUTION |
Strong mattress sales helped the home category return to growth as John Lewis & Partners posted the highest grossing week in its history in the seven days to November 24.
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- SUPPLY & WHOLESALE |
Canburg, the company behind high-end kitchen businesses Smallbone of Devizes and Mark Wilkinson, has filed a notice of intent to appoint administrators, according to Sky News. Corporate filings indicate a restructure may be imminent.
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Harry Corry trades from nearly 50 stores
Sales and profits jumped for furniture and furnishings chain Harry Corry Interiors in the first period since it finished its landlord-only Company Voluntary Arrangement (CVA) which it had seen it secure rent reductions.
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Essex furniture and interiors retailer Roomes says it has taken steps to put the business on sound footing after a year where big-ticket sales were impacted by consumer uncertainty.
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Retail footfall fell over the weekend taking in Black Friday promotions according to Springboard, a consultancy measuring shopper numbers in different types of retail destination.
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Major independent invests in new assets and property arm delivers growth.
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- INTERNATIONAL |
JYSK, the Danish value furniture retail conglomerate, says its planned opening in Ireland next year will mean it has stores in every major European country.
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East Midlands independent retailer Swannacks Furnishers of Retford is to close after the fourth generation owner of the company decided to retire.
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- RETAIL & DISTRIBUTION |
The Nasons furniture store at Wincheap, Canterbury
Furniture and flooring chain AHF was one of several interested parties in taking over either the Nasons furniture store in Canterbury or its brand, according to administrator Kreston Reeves.
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- RETAIL & DISTRIBUTION |
IKEA, the world's biggest home furnishings retailer, says it plans to restructure its business in order to adjust to "never seen before" changes that are rapidly transforming the global retail sector.
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- RETAIL & DISTRIBUTION |
AO World, one of the country's largest electricals retailers, is looking to leverage its logistics network and expertise by building partnerships with external furniture businesses.
