Retail News
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- ECOMMERCE
Chinese conglomerate Aosom Ecommerce has pumped millions of pounds into its circa £200 million turnover U.K. furniture and home goods web operation as part of a recapitalisation.
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- RETAIL & DISTRIBUTION
Will Kernan, the former CEO of furnishings-to-fashion retailer The White Company, has been appointed chairman at Neptune, the Wiltshire headquartered furniture design, wholesale and retail group.
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- RETAIL & DISTRIBUTION
Contemporary Northern Ireland furniture retailer Algram Modern Living has completed a remodel of its County Antrim premises that has, it says, created a unique and high-end showroom unlike anything on the island.
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- RETAIL & DISTRIBUTION
Ecommerce retailer Furniture Box funded the investment in its vast Wiltshire warehouse without the need to raise debt or equity capital, inaugural full disclosure accounts reveal.
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- REGIONAL
A large independent rugs retailer trading from one of the main roads in and out of London has folded leaving large debts, mainly to the tax authorities and financial creditors.
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- TRADE & INDUSTRY
Stakeholders including furniture retailers, manufacturers and wholesalers are being encouraged to provide their views on a proposed new approach to the fire safety of domestic upholstered furniture and furnishings.
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- RETAIL & DISTRIBUTION
Tempur Sealy International (TSI) says U.K. beds market leader Dreams was not affected at all by the cybersecurity event that has caused disruption elsewhere across the conglomerate's operations.
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- ECOMMERCE
Ecommerce home platform Wayfair recorded the highest gross margin in its history in the past quarter as it returned to positive operating cash flow, and achieved profitability at the adjusted EBITDA line.
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- RETAIL & DISTRIBUTION
Fashion-to-furnishings retailer Next says profits will come in £10 million ahead of its previous guidance after it achieved better-than-expected sales in recent weeks.
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- RETAIL & DISTRIBUTION
Dreams, the U.K.'s largest beds retailer, booked a rise in net income last year as high single-digit percentage sales growth and the lapping of one-off costs helped mitigate against inflationary cost pressures.
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- REGIONAL
Burton-upon-Trent retailer Discount Furniture Warehouse has begun a stock clearance sale of ahead of its planned permanent closure.
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- RETAIL & DISTRIBUTION
Elite furniture retailer Fishpools maintained its financial performance in the past year despite trading conditions tightening amid falling consumer confidence from the rise in the cost of living.
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- RETAIL & DISTRIBUTION
Consolidated earnings trebled at Andersons of Inverurie last year as revenue recovered and the furniture retailer lapped a period when profits were negatively impacted by a loan write-off.
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- REGIONAL
JYSK will later this month open its biggest-yet U.K. showroom with the launch of a debut large-format unit that sees some of its Internet-only products sold in-store for the first time.
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- RETAIL & DISTRIBUTION
The privately-owned premium furniture retailer behind BoConcept's London area stores booked higher profits last year as it fulfilled post-lockdown orders and made progress in its burgeoning contracts business.
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- RETAIL & DISTRIBUTION
A North East retailer that runs multiple consumer goods websites including one specialised in the sale of beds and mattresses has been placed into administration.
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- FLOORCOVERINGS
Upmarket retailer The Floor Room is partially rebranding its flagship Tottenham Court Road debut store in a move that puts distance between itself and its larger, more massmarket sister brand.
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- RETAIL & DISTRIBUTION
Northern Ireland based upholstery and beds retailer Hometime Group has expanded the Dreams retail brand into the Republic of Ireland for the first time.
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- SUPPLY & WHOLESALE
A container haulage company with depots across the East of England was placed into administration on Friday after a financial creditor called in its debt.
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- RETAIL & DISTRIBUTION
Secured creditors of Multiyork are being asked to approve higher administrator fees as the insolvency of the defunct upholstered furniture retailer drags into a sixth year.
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- RETAIL & DISTRIBUTION
A furniture and bulky goods delivery company describing itself as the most sustainable forward-thinking two-person delivery company in the U.K. has filed for insolvency.
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- RETAIL & DISTRIBUTION
Dreams has taken steps to protect its intellectual property rights by objecting to a trademark application made by a micro-fashion retail enterprise.
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- REGIONAL
Blackbridge Furnishings, one of the largest furniture retailers in Scotland, made further bottom line gains last year, bolstering cash and its net worth.
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- SUPPLY & WHOLESALE
Kitchenware supplier Sabichi Homewares claimed market share gains last year but higher costs meant profits declined.
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- UPHOLSTERY
Cousins Olivier and Antoine Roset have succeeded their respective fathers Michel and Pierre Roset as co-CEOs of Ligne Roset as the high-end furniture company enters a new phase in its near 100-year long history.
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- RETAIL & DISTRIBUTION
Fabrics and window dressings retailer and distributor Terrys cut costs and made business model adjustments as it mitigated a market downturn in the second half of last year.
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- TRADE & INDUSTRY
U.K. furniture insolvencies plumbed new depths in the second quarter with the number of companies calling in restructuring advisors reaching record levels.
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- RETAIL & DISTRIBUTION
Expanding South East retailer Sussex Beds found profitable growth last year as the build out of its store footprint continued to bolster the top and bottom lines.
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- FLOORCOVERINGS
Keswick Flooring acquired the business and assets of U.K. Flooring Direct (UKFD) for £6.4 million in cash, restructuring advisors have disclosed in a report to creditors.
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- RETAIL & DISTRIBUTION
Furniture and lighting retail sales volumes rose for the first time so far this year according to figures released Friday by the Office for National Statistics (ONS).
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- SUPPLY & WHOLESALE
The increasingly crowded and competitive logistics landscape contributed to the collapse of delivery company Tuffnells, whose furniture and mattress industry customers made up as much as a third of its business.
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- RETAIL & DISTRIBUTION
French furniture brand Roche Bobois maintained sales momentum in the U.K. in the first six months of the year despite lapping tough comparatives and a challenging market.
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- REGIONAL
The family behind longstanding Deeside retailer Coast Road Furniture will next month open a second store after taking a unit formerly occupied by Home Bargains.
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- RETAIL & DISTRIBUTION
Dunelm says profits will land closer to year-earlier figures than analysts' expected after the furniture and homewares giant found value and volume sales growth through 2022/23.
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- RETAIL & DISTRIBUTION
Net income declined for online furniture retailer Home Discount last year with it remaining profitable thanks to a seven-figure management charge booked from a co-owned wholesale company.
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- RETAIL & DISTRIBUTION
Consumer price inflation for household furniture eased to its lowest level since April 2021 last month, according to figures released Wednesday morning by the Office for National Statistics (ONS).
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- TRADE & INDUSTRY
FIRA International, the product testing and furniture services provider, has disclosed the financial impact of the closure of its Service Technicians business unit two years ago.
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- RETAIL & DISTRIBUTION
Furniture and homewares retailer EZ Living Interiors has expanded its retail footprint in Ireland with the opening of its fourth store in the Dublin area alone.
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- INTERNATIONAL
Designer furniture and homeware retailer The Conran Shop is considering the disposal of its operations in France as part of a move to explore strategic alternatives for the business unit.
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- UPHOLSTERY
Sofa market leader DFS says it expects underlying 2022/23 profits to meet previous guidance despite the market being "significantly worse than expected."
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