Archive: August 2009
Caxton parent improves operating profit but currency exchange rates result in first loss since 2005
FURNITURE | MANUFACTURING
British furniture manufacturing group Woodberry Bros & Haines returned its first loss in four year after a 24% swing in the sterling/euro exchange rate cost the firm the best part of £1m from its Euro bank account.
Hertfordshire independent reports 13.4% turnover fall to £20.1m; Watford store sale nets £930k
FURNITURE | INDEPENDENTS
Operating profits at Hertfordshire furniture retailer Fishpools dropped 24.8% to £904,000 in the year to 30 January as turnover fell 13.4% to £20.1m. Pre-tax profits, however, climbed almost 40% to £2.06m as the firm sold its Market Street Watford satellite store, netting the firm almost £1m.
La Galleria merged into Dansk store as World of Sofas launch edges closer
RETAIL | UPHOLSTERY
Furniture from the Dansk owned La Galleria store in Thurrock has been merged into its adjacent Dansk store - with World of Sofas thought to be about to take its place. The registered office for World of Sofas - the new venture by the founders of Land of Leather - has been switched from a Dorset address to Unit 15, The Junction on Lakeside Retail Park - the same address as La Galleria.
IN BRIEF | 26TH AUGUST
Sheffield store given compulsory purchase order
Furniture store Talbot & Knight Upholstery is one of a number of retailers that will be forced to relocate or close after Sheffield Council issued compulsory purchase orders in advance of a proposed redevelopment of a shopping precinct in the city's Buchanan Road. A spokesman for the firm described the Council's treatment as shocking, saying firms were being bullied.
Government initiative boosts school furniture firm
RM Group, the IT company that paid £2.69m for furniture design firm Isis Concepts in May of this year says the Government backed Building Schools for the Future Scheme will help the firm increase sales this year, despite the economic downturn. Oxfordshire based Isis designs and manufactures furniture for both the educational and commercial sectors.
British furniture manufacturer rescued by turnaround specialist
FURNITURE | CONTRACT
Dundee furniture manufacturer Sella Office Furniture and its sister firm, Bury based Sella Office Seating, have been bought out of administration by a Staffordshire turnaround company.
IN BRIEF | 25TH AUGUST
Ikea targets students with room planning software
Swedish furniture retailer Ikea has launched SpaceMaker - an online room planning tool it hopes will boost sales among students or those look to kit out small spaces.
Contract furniture firm appoints UK distributor
Manchester distributor PS Interiors is to handle the UK sales of Spanish furniture manufacturer Mondano Designs. The Barcelona firm targets the contract market and is a supplier of modern upholstery.
Argos criticised for being too expensive in Ireland
A Dublin university study has accused multichannel retailer Argos of being 24% more expensive in Ireland than in the UK. The variety retailer denied the claim, saying direct comparisons were impossible. Separately, Argos parent firm Home Retail Group has written to suppliers warning of the perils of dealing with retailers who do not hold trade credit insurance.
2QF sales drop 35.9% for Furniture Brands
Broyhill, Lane and Thomasville parent Furniture Brands International saw sales fall more than a third in the second quarter of its financial year. Turnover of $288.3m resulted in a net loss of $16m - although this was an improvement on the same period last year, when it returned a $23.9m loss.
Bed sales improve at John Lewis; Double digit furniture and carpets success in Newcastle
RETAIL | SALES
Department store chain John Lewis says the long term negative trend in bed and bedroom furniture sales was reversed last week. The retailer said sales volumes in the product category showed a return to form compared to its weak performance throughout the past year.
Upholstery firm launches 'safest electric rise and recline chair in production'
UPHOLSTERY | SAFETY
North west chair manufacturer Royams claims to have upstaged rivals with a sensor based system that helps prevent people or objects becoming trapped underneath rise and recline chairs as they descend.
Destocking in manufacturing sector may be coming to an end, says CBI
MANUFACTURING | OUTLOOK
British manufacturers are finally preparing to increase production after months spent running down stock to minimum levels. The CBI's Industrial Trends Survey showed suppliers are feeling more positive than at any time in the past year, with fewer firms fearful that output will fall further.
Sainsburys adds Home catalogue to complement online offer
RETAIL | NON-STORE
Supermarket Sainsburys has added a 98-page home catalogue to its non-store portfolio as it bids to grow non-food sales by a third in the next year.
Seven-store Fludes to close Worthing as sales across its portfolio drop 10%
FLOORING | RETAIL
One of Britain’s highest regarded independent flooring retailers will close an underperforming store next year as it looks to cut costs.
IN BRIEF | 19TH AUGUST 2009
Furniture chain slashes costs following hours cut
12-store chain Oka says the closure of eight of its stores on Sundays and Mondays has helped it cut costs. The move was a response to falling footfall earlier this year. The retailer, which has 11 stores in southern England and one in Edinburgh, made a £1.33m pre-tax loss in its last recorded full trading year.
Polish furniture giant considers IPO to raise cash
Black Red White, a Polish furniture supplier, hopes to raise capital by offering its shares on the Warsaw Stock Exchange next year. The firm made about £47m from sales of £430m in 2008.
Bathroom supplier kick starts dealer initiative
Upmarket bathroom firm CP Hart is to establish a network of partner retailers in locations where it doesn't have its own showrooms. The firm has signed a deal with Cheltenham firm Obsidian Kitchen and Bathrooms and further 'affinity dealerships' are expected to be announced soon.
John Lewis vows to increase furniture market share with new store format
RETAIL | EXPANSION
The boss of department store retailer John Lewis says the furniture and homeware market is ripe for consolidation and that it will bring its dedicated home stores to places people never dreamed capable of hosting a John Lewis store.
Whitfield & Lindsay pre-pack; Owners reopen store and trade as Clifford Centre Furnishers
FURNITURE | INDEPENDENTS
The owners of north-east furniture retailer Whitfield & Lindsay have completed an ‘orderly wind down of its five stores,’ and bought back the remaining assets of the business following a pre-pack administration.
IN BRIEF | 17TH AUGUST
Work starts on Scottish DFS store
Builders in Inverness have started work on a site destined to become a DFS upholstery store. Planning permission was granted to turn the former supermarket site into a furniture store back in 2005.
Trade body reinstates consumer insurance cover
The Kitchen and Bathroom Specialists Association (KBSA) has reinstated 100% consumer insurance coverage for its members. The trade body was forced to change suppliers when previous provider HCCI pulled its cover in May.
Rain helps London furniture retailers
Bad weather in July boosted furniture and homeware sales in the capital, according to the BRC’s London Retail Sales Monitor. Overall sales across all product categories climbed 2.2% on a like for basis, but this masked falls in sectors such as clothing and footwear.
142 Allied Carpets stores close: No buyer found for stores as a going concern
FLOORING | STORES
Insolvency specialist BDO Stoy Hayward has closed 142 Allied Carpets stores, almost a month after the retailer went into administration.
Celebrity Motion Furniture stars as JDP Group grows turnover to £49.1m
FURNITURE | SUPPLY
Rise and recline upholstery manufacturer Celebrity Motion Furniture has delivered a 4% pre-tax profit growth for its JDP Furniture parent company, despite group profits falling 34% to £571,000.
Long Point to take place at Harrington Mills showrooms
UPHOLSTERY | EXHIBITIONS
East Midlands furniture show Long Point will take place within a tighter geographical area in September after organisers moved the venue of its guest exhibitors to Harrington Mills showroom in Long Eaton.
IN BRIEF | 13TH AUGUST
Alphason parent firm opens garden showroom
Armour Garden, part of the AIM listed Armour Group that owns home entertainment furniture supplier Alphason Designs, has opened a 100sqm garden furniture showroom in Manchester. It will also increase its trade show presence in the next year as it looks for distribution partners.
Upholstery retailer to close Norwich store
Wesley Barrell is to close its Norwich store at the end of this month. The retailer, which has a further 15 stores, says sales in the east of England will be concentrated on its Cambridge and St Albans outlets.
Contract furniture firm to make further redundancies as it seeks to downsize
MANUFACTURING | CONTRACT
Office furniture manufacturer Lee & Plumpton has written to employees to find candidates for voluntary redundancy. The Norfolk supplier shed 43 jobs at the end of 2008, and now needs to take a further eight positions off the payroll.
IN BRIEF | 11TH AUGUST
Carpetright moves away from price with marketing plan
Flooring chain Carpetright is to increase its ad spend by 15% and will make product rather than price its headline message. The retailer will also make television sponsorship and advertising the backbone of its marketing budget instead of tabloid newspapers.
Furniture and homeware sales rise according to BRC
Rain and discounting in July helped furniture retailers record their strongest sales since May 2006, according to the BRC-KPMG Retail Sales Monitor. Overall retail sales climbed 3.6% during the month, and 1.8% on a like for like basis.
Exeter furniture and flooring independent sees 19.4% turnover fall
FURNISHING | INDEPENDENTS
Devon furniture retailer Stoneman & Bowker recorded a £350,000 drop in turnover in the year to 30th September 2008, with resulting pre-tax losses of £31,707.
Ex-Joynson Holland employees launch new upholstery firm on site of former factory; “It’s business as usual”
UPHOLSTERY | LAUNCH
Three former employees of collapsed show wood upholstery manufacturer Joynson Holland have launched Relax Seating – occupying the same factory and re-employing many of the firm’s staff.
Pre-tax profits halve for Devon department store following turnover fall
RETAIL | PROFITS
Tiverton and Barnstaple furniture and department store retailer Banburys returned slimmer profits in the year to the end of January as turnover dropped slightly on 2008.
BFC attacks £150m Advanced Manufacturing Strategy and calls for support for traditional suppliers
MANUFACTURING | SUPPORT
The British Furniture Confederation has criticised the Government’s plan to support advanced manufacturing to the tune of £150m, saying it should set aside cash for traditional manufacturing companies.
Carpetright drives home advantage over Allied with LFL sales uplift
FLOORING | SALES
Carpetright's UK and Irish sales grew 6.6% in the three months to 1st August with like for like trading up by 1.4% on the same period in 2008.
........but Topps Tiles suffers double digit like for like sales fall
FLOORING | RETAIL
Topps Tiles like for like sales fell 10.9% in the 18 weeks to 1st August with total sales falling 9.9%. Despite the falls, the performance is an improvement on the prior seven weeks, when like for like sales fell 11.9%.
Feather & Black targets London expansion as it turns attention away from divans
BEDS | EXPANSION
Retailer Feather & Black says it would open another five stores today if the right sites were available. The bed retailer is looking to increase on its 30-store portfolio and has pinpointed London as an area for growth.
Willis & Gambier to enter upholstery market; Joynson Holland to launch rise and recline chairs
UPHOLSTERY | RELAUNCH
Willis & Gambier parent Samson Holdings will target the lucrative rise and recline upholstery market after acquiring the name and design rights to collapsed British manufacturer Joynson Holland.
