Furniture News: October 2009
Turnover slides 17% at leading Welsh independent furniture retailer
INDEPENDENTS | RETAIL
One of the UK's leading single store independents says its main focus is on cost control and cash management as it copes with the recession.
Strong Q2 for Carpetright; Progress in developer/insurance markets
FLOORING | RETAIL
UK and Ireland sales at flooring chain Carpetright grew 12.2% in the three months to 24th October with same store revenues also rising, by 5.6%.
Discount fashion to home chain grows sales 10% to £1.12bn
RETAIL | SALES
Home and clothing retailer TK Maxx and its sister company HomeSense increased profits 34% to £48.8m in the year to 31st January as sales climbed 10% to £1.12bn.
Furniture distributors to label non-EU imports showing origin of goods
IMPORTS | SUPPLY
Furniture retailers and distributors who import furniture from outside the EU could be forced to label each and every item they sell telling consumers where the product has been produced.
Pinetum reassures stockists over orders placed before administration
MANUFACTURING | CABINET
The owners of pine and oak furniture manufacturer Pinetum have moved quickly to quash retailer fears over orders placed before the company went into administration on 1st October.
Manchester show snaps up La-Z-Boy
EVENTS | UPHOLSTERY
The UK division of American upholstery giant La-Z-Boy has signed to exhibit at the 2010 Manchester Furniture Show. It will be the company's debut at the Summer event.
Furniture drives Homebase; Argos to use acquired brands to broaden range
HOME | RETAIL
A dedicated catalogue and a larger in-store presence made furniture one of the key growth areas for Homebase in the six months to 29th August. The retailer, part of the Home Retail Group (HRG), also tapped into sister firm Argos' sourcing infrastructure as furniture sales outperformed the wider market.
'Business as usual' - Pinetum bosses to complete swift pre-pack admin deal
FURNITURE | MANUFACTURING
The management of UK oak and pine furniture manufacturer Pinetum have regained control of the company in a pre-packaged administration deal.
Pinetum Manufacturing Limited, the trading company of the Warminster manufacturer, went into administration on 1st October, with the Chandlers Ford office of Tenon Recovery appointed as administrators.
Habitat owners to explore sale options as retailer seeks profitability return
FURNITURE | RETAIL
The owners of loss making furniture chain Habitat are considering selling the company. The retailer, which made a £13.4m loss last year, is owned by the family of Swedish furniture giant Ikea.
Furniture retail price strategies to come under the spotlight in OFT study
RETAIL | MARKETING
The price promotion tactics used by furniture and flooring retailers are to be investigated as part of a study that could have far reaching consequences for the industry.
Sales rocket for multichannel furniture retailer; Profits rise too
RETAIL | SALES
Cross channel furniture retailer Dwell has proved the recession isn't damaging all parts of the trade after sales climbed 50% to the end of January.
Furniture distributor to relaunch after suffering in the downturn
WHOLESALE | RELAUNCH
Furniture and giftware wholesaler Jig is to relaunch later this month after profits tumbled in the run up to the recession. The firm has closed four of its five warehouses, but will reopen its Acton depot in London on 25th October.
Soft furnishings form bulk of new John Lewis home store range
RETAIL | HOMEWARE
John Lewis' new Home store in Poole will carry fewer than 30 beds and sofas - but hundreds of soft furnishing lines, lights and home accessories.
Natuzzi UK retail sales jump 64% on the back of store openings but losses mount
UPHOLSTERY | RETAIL
Sales for the UK retail operation of Italian sofa manufacturer Natuzzi jumped more than 60% to £11.35m in 2008 thanks to its new Manchester store and an increase in the number of concessions within House of Fraser department stores.
Service Technicians to launch insurance operation with retail voucher scheme
FURNITURE | COMPLAINTS
Furniture complaint resolution operation Service Technicians is to work with insurance providers to pilot a scheme that would value and validate claims for damaged furniture.
Non-essential furniture spend rises in September against weak comparatives
RETAIL | SALES
The British Retail Consortium has cautioned against over optimism as consumers discretionary spend on goods including furniture rose year on year during September.
Furniture firm to close at the end of the year; All orders to be honoured
FURNITURE | OUTDOOR
Management at a Kent garden furniture manufacturer have written to stockists outlining a plan to close its business at the end of 2009.
Colchester independent maintains profit levels despite 14% turnover fall
INDEPENDENTS | FURNITURE
Hatfields of Colchester, one of the UK's largest family owned independent furniture retailers, suffered a 14.1% revenue drop to £7.9m in the year to 31st March, but limited the impact on profits by almost matching 2008 levels.
World of Sofas opens 10 stores and promises five more by Boxing Day; £240 fabric sofa launch offer
RETAIL | UPHOLSTERY
World of Sofas, the new upholstery chain from the founders of Land of Leather, has opened ten stores across the UK - including eight in Scotland, one in Wales, and the former La Galleria store in Thurrock.
Dams International rescued by Venture Finance backed management buyout
CONTRACT | MBO
Two of the former owners of office furniture manufacturer Dams International have bought the company out of administration. Melissa Moore and her brother Chris Scott have regained control of the Merseyside firm after securing a funding package through invoice and asset based lender Venture Finance.
BFC steps up campaign for consumption tax to reduce furniture manufacturers' costs
TRADE | SUPPLY
The British Furniture Confederation (BFC) is calling on the Government to introduce a consumption tax to lower costs throughout the furniture supply chain.
Irish post code system could provide boost for online furniture sales
FURNITURE | ONLINE
Retailers selling furniture online to customers in the Republic of Ireland will find it far easier in future, if a renewed attempt to introduce a post code system proves successful.
New stores boost Zara Home sales 31% but profits plunge
HOMEWARE | RETAIL
The seven store homewares arm of Spanish retailer Zara has pinned the blame for a £911k pre-tax loss in the year to January on the financial crisis and falling disposable income.
Retail trade associations rubber stamp merger; 8,000 strong group created
RETAIL | MERGER
The lead trade body for independent furniture stores, the British Shops and Stores Association, has completed its merger with the British Hardware Federation.
Losses and cash shortage take their toll on Dams International
CONTRACT | FAILURE
A fourth consecutive year of losses has broken the back of office furniture manufacturer Dams International, which has gone into administration.
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FLOORING
CF rebrands retailers as members
Carpet Foundation to phase out the use of Registered Specialist name and logo.
FLOORING
Carpet trade in 25% target
Flooring retailers and manufacturers to unveil action plan for reducing waste sent to landfill.
LEGALS
Cresta Furniture in administration
The Manchester office of PKF in charge after Preston retailer falls into administration.
SPECIAL REPORT
The UK's greenest furniture firm?
A report on the changes made to the factory at Westbridge Furniture - Marks & Spencer's chief upholstery supplier.
BEDS
Growth at £14m bed supplier
Burnley bed manufacturer Sweet Dreams to take on more staff following positive start to year.
SUPPLY
G-Plan to roll out POS package
Sofa manufacturer to extend new point of sale package after a successful trial at Bristol independent.