Retail News
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The Stokers group of furniture stores saw profits jump by almost 50 percent in the year to end April as revenue trended sharply upwards, according to just-filed consolidated accounts.
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- RETAIL & DISTRIBUTION
The group behind regional beds retail chain Mattressman continued to build its financial position through 2021/22 as it closed in on the final year of a company voluntary arrangement (CVA) agreed with creditors nearly five years ago.
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- RETAIL & DISTRIBUTION
Former Bensons for Beds, Heal's and Steinhoff executive Mark Jackson has been appointed CEO designate at Wilko, the national general merchandise and variety retailer.
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A financial backer of embattled Maker&Son has filed a notice of intent to appoint an administrator in a move designed to protect its position following a series of issues described as beyond the upholstery business' control.
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RH, the luxury U.S. furniture retailer formerly known as Restoration Hardware, has completed a new multimillion pound equity issue for its still-to-launch British business.
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A multi-site flooring retail and wholesale operation with warehouses across Scotland says rising costs have left it grappling with more challenging trading conditions.
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- DEALS & FINANCE
The rescue of Crazy Price Beds last month secures the future of all sites and jobs at the Staffordshire company, restructuring advisors have now confirmed.
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- RETAIL & DISTRIBUTION
Marks and Spencer (M&S) is to relocate in Liverpool from its current location on Church Street to the former Debenhams department store in the city centre.
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- BEDS & MATTRESSES
A serial buyer of fashion and furniture retail companies has been confirmed as the new owner of ecommerce mattress and bed base retailer Crazy Price Beds in a deal brokered by restructuring advisors.
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An East Midlands based ecommerce garden furniture brand could return despite its predecessor operating company folding leaving debts of almost half a million pounds.
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- REGIONAL
Furniture retailer Cousins maintained margin and recorded seven-figure profits despite supply chain problems spanning raw material shortages, container delays, port congestion and a lack of HGV drivers.
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- RETAIL & DISTRIBUTION
A full year without restrictions helped IKEA achieve record U.K. sales through 2021/22 but profits declined as costs trended upwards.
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- RETAIL & DISTRIBUTION
Profits returned at group level for Arighi Bianchi through 2021/22 as the historic furniture and home retailer deleveraged during a period where sales reached their highest mark in four years.
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Outdoor furniture retailer Moda Furnishings has warned of a material softening in demand as market conditions became more challenging through 2022.
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Profits declined for CareCo, the expanding retailer of mobility products including riser recliners and adjustable beds, in a period in which it invested heavily in new store and distribution assets.
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U.K. furniture and lighting retail sales were up £181.5 million year-on-year in November as rising prices bolstered the impact of a skinny rise in volumes.
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Sam Perkins, the former retail md at home shopping group Very, has been appointed CEO at Loaf, succeeding founder Charlie Marshall who is to take up a new role with the furniture retailer.
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Britain's largest hardwood cabinet retailer Oak Furnitureland achieved revenue growth amid rising costs in the year to end June, and says the expansion of its upholstery offer has delivered an autumn boost.
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- DEALS & FINANCE
A Yorkshire based entrepreneur has acquired The Garden Trading Company out of administration in a deal that saves the brand and all 53 jobs.
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Pooky, the multichannel lighting business set up eight years ago by Sofa.com co-founder Rohan Blacker, has recruited from the furniture sector for a new chief executive.
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- UPHOLSTERY
Direct-to-consumer upholstery brand Maker&Son is at the centre of a legal dispute following the sale of the business to a new financial sponsor earlier this year.
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Furniture, home and interior design company Rowen Homes will next year open its first brick-and-mortar showroom as it expands beyond its ecommerce roots.
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Furniture retail price inflation remains at historic elevated levels but still eased to its lowest mark since December 2021 last month as some upward pressures eased.
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- UPHOLSTERY
Upholstered furniture imports into the U.K. climbed at the start of the final quarter of 2022 despite continued sluggish figures from China.
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- RETAIL & DISTRIBUTION
Britain's advertising watchdog has upheld a complaint regarding savings claims made in advertising by Happy Beds, the online bed retailer based in West Yorkshire.
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Multinational furniture retailer King Living has doubled its U.K. store footprint with the launch of a second showroom in the South East of England.
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- COMMUNITY
Bensons for Beds is partnering homelessness charity Crisis via a series of initiatives spanning donations from mattress sales to fundraising and volunteering.
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- REGIONAL
Improvement in warehouse picking boosts online sales while overall turnover climbs beyond £70 million for Wales headquartered retail chain.
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- RETAIL & DISTRIBUTION
Upmarket fitted furniture vertical John Lewis of Hungerford marked its 50th anniversary with record sales and even higher order levels, though profits declined on rising costs.
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Peter Harrison says a lifelong ambition has been realised after the shares of BGF and other minority shareholders were acquired in a transaction that gives the family 100 percent control of the business for the first time in its 33-year history.
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- UPHOLSTERY
A historic sofa manufacturer that also sells branded upholstery from its large retail showrooms in Buckinghamshire has filed a notice of intent (NOI) to appoint an administrator.
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- CASE GOODS
The South Yorkshire cabinet maker behind the Spaceslide and Spacepro bedroom furniture brands is not impacted by the insolvency of the kitchen retail business it bought six years ago.
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- LEGAL & RESTRUCTURING
A Derbyshire kitchens business has folded without warning after taking almost £350,000 of deposits, leaving orders unfulfilled and consumers facing a challenge to recoup funds.
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RH, the high-end luxury furniture retailer launching its debut U.K. store in a £28 million Cotswolds country pile next year, has re-timelined the opening of its follow-on gallery in London.
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Profits declined for the online dining furniture retailer behind the Atlantic Shopping ecommerce brand last year as a slump in sales revenue combined with a big drop in gross margin.
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Privately-owned department store retailer Fenwick will close its New Bond Street store in central London in just over a year's time after agreeing to sell the building to property developers.
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Southern Italian upholstered furniture brand Egoitaliano has a second U.K. monobrand store after a partner launched a new flagship showroom in Surrey.
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Furniture and homewares retailer Loaf is partnering St Mungo's, a charity working to end homelessness and transform the lives of people facing and experiencing homelessness in the U.K.
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- RETAIL & DISTRIBUTION
The managing director of national furniture retailer Barker and Stonehouse has praised staff for a range of initiatives that has led to it cutting its energy usage by over a third in the past quarter.
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- RETAIL & DISTRIBUTION
Furniture and soft furnishings retailer Harry Corry recorded its highest profits in four years as a return to top line growth combined with interest income and a lower tax bill.
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