Retail News
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- REGIONAL
Trading profits returned at Jarrold & Sons through 2021/22 as the diversified Norwich group kept a lid on costs and saw revenue recover, particularly within its retail business.
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- RETAIL & DISTRIBUTION
Home department store retailer Leekes recorded double-digit top and bottom line gains in the year to end March and says it has maintained momentum in the first half of its new financial year.
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- RETAIL & DISTRIBUTION
Wider gross margin and higher sales helped the privately-owned South East retail group behind department stores including Elys and Pearsons return to profit in the past year.
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- RETAIL & DISTRIBUTION
New bank borrowing replaces £100 million drawdown on overdraft facility as loans from related parties increased last year.
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- RETAIL & DISTRIBUTION
Home, garden and leisure retailer The Range has pinned a fall in profits on unprecedented challenges to the supply chain as rising costs countered an advance in sales at the 205-store chain.
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- RETAIL & DISTRIBUTION
Eve Sleep will live on as a standalone brand after Bensons for Beds acquired the direct-to-consumer company's intellectual property following the appointment of administrators at midday on Monday.
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- RETAIL & DISTRIBUTION
Direct-to-consumer mattress and sleep products company Eve Sleep was placed into administration at midday Monday after hopes for a solvent solution or fresh equity funding evaporated.
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- LEGAL & RESTRUCTURING
More than a dozen suppliers face sizeable five-figure shortfalls from the closure of one of the country's largest suppliers of furniture packages to property investors, landlords, developers and home owners.
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- RETAIL & DISTRIBUTION
Embattled furniture retailer Made.com Group (Made) is targeting firm offers for the company by the end of October and says potential bidders have been made aware that it will require interim financing in light of dwindling liquidity.
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- RETAIL & DISTRIBUTION
BoConcept is donating profits from its business in Russia to an initiative supporting Ukraine after it was forced to walk back plans for an immediate exit from supplying its Russian franchisee.
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- REGIONAL
Independent furniture retailer Lukehurst is upgrading the exterior of one of its two Kent stores with a six-figure investment in the external fascia.
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- BEDS & MATTRESSES
Mattress imports jumped by more than a quarter despite a sharp fall in the value and volume of goods shipped to the U.K. from China, according to new trade data.
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- BEDS & MATTRESSES
The U.K. arm of upmarket Swedish bed maker Hästens came closer to profit than at any time in the past decade last year as revenue growth returned.
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- RETAIL & DISTRIBUTION
The founder of DFS and an investment vehicle controlled by the deputy chairman of Dunelm remain among the largest shareholders in fast-growing and now-profitable flooring retailer Tapi Carpets & Floors.
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- RETAIL & DISTRIBUTION
Inflation-driven price rises and currency movements helped worldwide brand revenue climb to a new record level at IKEA in the past year despite flat volumes across the franchise.
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- ECOMMERCE
The Furnitureful ecommerce brand is now trading under the stewardship of its third owner inside five months after its predecessor company folded late last month.
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- ECOMMERCE
The Chinese ecommerce group behind furniture, home and garden brands such as Homcom and Aosom more than doubled the size of its U.K. business last year in a period when it added six new warehouses across southern and eastern England.
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- UPHOLSTERY
Order intake is down double-digit in the past ten weeks but ScS says it is well placed to ride out the tightening economic backdrop with it having built a huge cash pile and no debt.
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- REGIONAL
U.K. tax authorities face the largest shortfall after the planned permanent closure of privately-owned Leicestershire retailer Furniture Loft went awry earlier this summer.
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- RETAIL & DISTRIBUTION
Upholstery brand Maker&Son says it was fully committed to fulfilling all creditors obligations ahead of it being forced into an insolvent restructure after a single creditor didn't support its plans following its summer buyout.
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- BEDS & MATTRESSES
U.K. revenue reached record levels for mattress and bedding wholesale and retail business Tempur last year with it continuing to trade ahead in the early months of this year.
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- DEALS & FINANCE
XXXLutz Group, one of the three largest furniture retail groups in the world, is to buy pan-European ecommerce home and living retailer Home24 in a deal that has the backing of the target company's management and major shareholders.
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- RETAIL & DISTRIBUTION
Restructuring advisors are trying to unpick the situation at £25 million sofa brand Maker&Son after the trading company behind the business was placed into administration earlier this week.
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- UPHOLSTERY
Plumbs traded strongly post lockdown as the sofa covers, re-upholstery and curtains company narrowed its net loss and generated positive cashflow last year.
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- BEDS & MATTRESSES
The CEO of Simba Sleep says the mattress and bedding company recorded a big jump in U.K. EBITDA after 60 percent sales growth here last year.
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- RETAIL & DISTRIBUTION
A fast-growing wholesaler and ecommerce oak furniture retailer has the backing of one of the most prominent industry founders of the past two decades following an investment earlier this year.
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- RETAIL & DISTRIBUTION
Britain's biggest bed retailer delivered high single-digit figure profit growth in 2021 as revenue surged on the back of strong demand last year.
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- FLOORCOVERINGS
A floorcoverings company that used to work with one-time major home furnishings independent Alan Ward is expanding with the launch of a second retail and trade showroom.
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- RETAIL & DISTRIBUTION
Furniture Village commercial director Charlie Harrison has been named winner of the Next Generation Award by Family Business United, recognising his contribution to the national furniture retailer.
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- TRADE & INDUSTRY
The third quarter of 2022 saw more than twice the number of furniture and furnishings companies call in restructuring advisors compared with the same period last year.
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- BEDS & MATTRESSES
The second iteration of erstwhile South East beds retail chain Warren Evans recorded six-figure profits in the second full year since it launched in 2019.
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- RETAIL & DISTRIBUTION
Fabb Furniture will open two more showrooms before Christmas as part of a six-figure investment expanding its retail estate. It is also targeting a new distribution centre and has switched warranty providers following a tender process.
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- RETAIL & DISTRIBUTION
Fast-growing flooring chain Tapi Carpets & Floors will keep its foot on the accelerator pedal with new stores opening through 2022.
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- FLOORCOVERINGS
National retailer Tapi Carpets & Floors has booked inaugural profits on the back of wider margins and top line growth, with it targeting further gains this year despite the weakening market.
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- RETAIL & DISTRIBUTION
North West home department store retailer Housing Units achieved a double-digit net margin as sales jumped by well over a third to record levels in the year to March 27, 2022.
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- RETAIL & DISTRIBUTION
Major independent furniture retailer Fishpools booked seven-figure profits and bolstered cash reserves in a year of record volumes for the Waltham Cross company.
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- RETAIL & DISTRIBUTION
Furniture retailer Made.com Group (Made) saw its gross margin slide sharply in the first half as it slashed prices to shift excess inventory.
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- RETAIL & DISTRIBUTION
Frasers Group, owner of Sofa.com and House of Fraser among myriad retail interests, has enlisted architects to draw up plans for a new global headquarters campus in Warwickshire.
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- RETAIL & DISTRIBUTION
General merchandise retailer Next has fleshed out the details of its investment in ecommerce furniture retailer Swoon for the first time — four months after the bones of the deal were first disclosed.
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- RETAIL & DISTRIBUTION
Home furnishings retailer IKEA is partnering Tesco, the supermarket chain, to expand its collect-and-collect service for customers.
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