Retail News
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- SUPPLY & WHOLESALE
Indian Ocean founder Jamie Hobbs is stepping down as managing director to focus on design and strategy. The high-end outdoor furniture company has appointed commercial director David Mahony to be his successor.
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- RETAIL & DISTRIBUTION
Marks and Spencer (M&S) is to open eight new full line stores through 2023/24 including five former Debenhams shops that will all open this year.
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- FLOORCOVERINGS
Calverts Carpets booked record profits for the second straight year after the regional floorcoverings retailer achieved its highest sales in over a decade.
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- REGIONAL
Privately-owned regional floorcoverings retailer Floorstore expanded its West Yorkshire store footprint late last year after agreeing a new debt funding package.
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- UPHOLSTERY
Upholstery vertical Sofa.com has agreed a new third-party retail tie-up as it looks maintain and build its retail footprint amid the evolution of its concession network in sister chain House of Fraser.
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- UPHOLSTERY
Direct-to-consumer sofa business Maker&Son has made roles redundant as part of plans to restructure and stabilise the embattled upholstery retailer.
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- FLOORCOVERINGS
Former DFS chief marketing and commercial officer Toni Wood has taken another C-suite role in the U.K. furnishings sector after joining Headlam Group as chief customer officer.
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- UPHOLSTERY
A mid single-digit decline in order intake at DFS in the second half of the 2022 calendar year masks a big improvement in the past three months, according to the U.K. sofa market leader.
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- RETAIL & DISTRIBUTION
The U.K.'s largest BoConcept franchisee will further grow its retail footprint in the London area with its latest store launch this weekend.
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- ECOMMERCE
Ecommerce retailer Very Group said a double-digit rise in furniture sales was a key driver in overall growth at its flagship Very brand over the Black Friday and Christmas period.
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- RETAIL & DISTRIBUTION
Clothing and home sales trended up in high single digits on the back of strong in store demand through the golden quarter for Marks and Spencer (M&S), the general merchandise and food retailer.
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- INTERNATIONAL
A wholly-owned U.K. arm of French furniture brand Ligne Roset built on a first profit in five years with a second straight gain in the year to September 30, 2022.
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- ECOMMERCE
The group behind the JD Williams brand saw sales fall at a faster rate in the run up to Christmas and warned of further soft market conditions to come in the first half of 2023.
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- RETAIL & DISTRIBUTION
General merchandise retailer Argos delivered a third sequential quarterly improvement as household goods categories delivered in the lead up to Christmas.
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- UPHOLSTERY
National retailer ScS is the new owner of modular sofa business Snug after it acquired the brand, domain names, website, intellectual property and stock from the administrators of the predecessor operating company.
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- TRADE & INDUSTRY
The number of furniture, flooring and furnishings companies filing for insolvency climbed to the highest level since records began in 2022 as demand tailwinds receded and Covid-support measures fell away.
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- ECOMMERCE
Equity investment helped bolster the balance sheet of the ecommerce group behind furniture and home interiors brands such as Houseology, Olivia's and Teddybeau Furniture.
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- RETAIL & DISTRIBUTION
Employee-and-investor-owned retail chain Tapi Carpets & Floors has welcomed in the new year with a flurry of new store openings.
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- REGIONAL
Heritage family-owned furniture retailer Paul Adams Furnishers is to close down following the decision of its owners to retire.
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- RETAIL & DISTRIBUTION
A new distribution centre and expanded retail footprint helped furniture and furnishings retail chain NCF Living to a record year through 2021/22.
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- RETAIL & DISTRIBUTION
Freight and other distribution costs rose sharply to counter the positive impact of revenue growth at the U.K. arm of value furniture chain JYSK last year.
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- UPHOLSTERY
The operating company of modular sofa brand Snug has filed a notice of intent to appoint an administrator as potential bidders such as ScS look to complete a deal for either the company or its assets.
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- UPHOLSTERY
Upholstered furniture retailer ScS is among the suitors targeting the acquisition of Snug, the sofa-in-a-box brand that built sales north of £30 million during the height of the pandemic.
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- RETAIL & DISTRIBUTION
Revenue jumped and average order values increased for OKA in 2021/22, helping the high-end furniture and interiors retail group build adjusted EBITDA, and cut its net loss.
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- RETAIL & DISTRIBUTION
Restructuring advisors sanctioned hundreds of thousands of pounds in critical ransom payments in order to keep The Garden Trading Company trading ahead of its sale to private equity last month.
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- BEDS & MATTRESSES
Ecommerce-led beds retailer MattressNextDay recorded seven-figure profits for the second straight year in the lead up to a major investment in distribution and fulfilment, new figures reveal.
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- RETAIL & DISTRIBUTION
General merchandise giant Next generated sales of more than £15 million every day in the last nine weeks of the year as demand at the fashion-to-furnishings chain outperformed its own expectations.
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- REGIONAL
Independent furniture and floorcoverings retailer John Doe of Diss has gone on television for the first time, launching a debut broadcast advertising campaign.
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- RETAIL & DISTRIBUTION
Jim Orr has been appointed to the newly-created group chief executive role at Minerva, the furniture buying group and exhibition organiser.
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- FLOORCOVERINGS
Mears Flooring, one of the best-run privately-owned companies in the floorcoverings sector, maintained its double-digit net margin amid profitable growth last year.
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- RETAIL & DISTRIBUTION
British furniture and home interiors brand OKA has opened its third store in the U.S. and its first on the East Coast.
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- UPHOLSTERY
A secured lender to embattled upholstery business Maker&Son has filed a second notice of intent to appoint an administrator (NOI) as it seeks to protect its position.
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- RETAIL & DISTRIBUTION
The online marketplace platform bought by fallen furniture retailer Made.com in the spring of last year has fresh backing following a carve out process.
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- BEDS & MATTRESSES
The disposal and closure of one of its Kent stores helped bed retail chain Hamseys Sleep Centres cut bank borrowing and boost working capital last year.
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- TRADE & INDUSTRY
West Midlands based Homeserve Furniture Repairs booked record revenue and profit through 2021/22 and said it expects to grow its top line again in the current financial year.
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- REGIONAL
Department store and bed shop retailer W.J. Daniel & Company returned to profit at the operating line last year in a period where it sold off property to help fund multi-million pound share buybacks.
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- RETAIL & DISTRIBUTION
Department store retailer Beales has adjusted its marketing strategy to put its Internet business back into profit ahead of one of its three stores closing early next year.
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- UPHOLSTERY
Upholstered furniture and floorcoverings retailer ScS has expanded its store footprint in the north of England with the opening of a ninth store in Yorkshire.
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- RETAIL & DISTRIBUTION
Privately-owned furniture retailer Barker and Stonehouse made top and bottom line gains through 2021/22 ahead of further expansion of its national store footprint.
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- RETAIL & DISTRIBUTION
The company behind expanding retail chain Fabb Furniture recorded a bigger loss on supply chain and pandemic-related headwinds last year but says 2022/23 is already looking much stronger.
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