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Tag: bedding

  • Hard Rock Bedding and Bath range planned

    Hard Rock Bedding and Bath range planned

    Restaurant and accommodation chain Hard Rock International is to partner with textiles firm Sobel Westex to produce a manchester range.

    The Hard Rock at Home collaboration is intended to give music fans around the globe the opportunity to fine-tune their living spaces with home goods inspired by music – including bedding, bath textiles, window treatments and beach towels.

    The Hard Rock at Home collection features luxurious bedding, including comforters, sheet sets, throws and decorative accent pillows with a variety of designs. Through the collection, fans can add country, rock and alternative music touches, as well as hip hop trends and pop accents.

    “We are excited to collaborate with Sobel Westex to bring these trendy bedding, bath and beach products to consumers worldwide,” said director of licensing for Hard Rock International Mark Linduski. “This fresh, unique collection of musically-inspired, designer textiles will appeal to customers of virtually every age range, music genre and lifestyle while aiding in our strategic initiative to expand retail distribution of the Hard Rock brand outside of our own retail properties.”

    The designer textile collection will debut at the New York City Spring Textile Market from March 18 through March 21, before launching to consumers this autumn.

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  • Adairs on track for record results

    Adairs on track for record results

    Bedding retailer Adairs says its on track to book record sales and earnings in fiscal 18, upgrading its guidance for the second time in as many months on better than expected third quarter trading.

    Adairs said on Thursday that strong demand for its autumn and winter range had underpinned an 18 per cent increase in year-to-date like-for-like sales growth, bringing financial year-to-date LFL growth to 16 per cent.

    It now expects earnings for fiscal 18 to come in between $44 – 46.5 million, up from the $40 – 44 million upgraded guidance it provided in February.

    Sales are now expected to be between $310 – $315 million, up from the $300 – $310 million forecasted in February.

    “This further upgrade to our FY18 earnings guidance reflects both the continued higher sales performance observed the last two months and our confidence in the momentum we carry into the remainder of this financial year,” chief executive Mark Ronan said.

    The update is the latest of a string of solid trading periods for the business after it embarked on a shift in its strategy last year by reworking its range and tightening its promotions.

    Online sales have been a bright spot for the business so far this year, with sales up 99 per cent to around 12.8 per cent of total revenue.

    Ronan said Adair’s full year result will represent a significant improvement over the prior year, when the business was weighed down by a particularly bad first-half.

    “Our FY18 result will be underpinned by a significant rebound in performance, the capacity of our strategy to grow market share profitably and the effectiveness of our omni channel strategy. Further, we believe the FY18 result will provide a solid platform for continued growth into FY19,” he said.

    Adairs also tightened its gross margin guidance on Thursday from its previous 59.5 – 61.5 per cent range to 60 – 61 per cent.

    Capital Investment forecasts were revised downward from $9 – $11 million to $7 – $9 million.

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  • Adairs takes double digits to the market

    Adairs takes double digits to the market

    Bedding retailer Adairs has issued its second trading update in as many months, delivering the news that like-for-like sales growth has hit double digits in the first weeks of FY18.

    LFL sales soared to 10.4 per cent in the six weeks to 13 August, following 9.1 per cent growth in the prior six weeks, turning around three consecutive months of negative growth through Q2 and Q3 in FY17.

    Still yet to book his full year result with the market, Adairs CEO Mark Ronan chalked up the increasing momentum to the company’s new line of up-market manchester, which continues to be a hit with customers.

    “Adairs improved sales performance over the last 10 weeks provides us with increased confidence that the measures taken in the first half of FY17 were successful in re-positioning the business, including our new product offering resonating with our customers,” he said.

    He did, however, signal that the company expects growth to moderate somewhat through FY18, which will be further discussed at the company’s full year result on 28 August.

    Ronan’s update was received well in early Thursday trading, with Adairs’ share price up 6 per cent, adding to the more than 50 per cent rise since it signalled the trading turnaround in July.

  • Kingsdown Vietnam opens first store

    Kingsdown Vietnam opens first store

    American bedding producer Kingsdown has opened its first branded retail showroom in Vietnam, in Ho Chi Minh City, heralding a push into Asia.

    The company has also announced it plans to open more than 100 branded showrooms in Asia within the next 12 months.

    Based in Mebane, North Carolina, Kingsdown claims to be the largest independent, employee-owned mattress manufacturer in the US. The Kingsdown Vietnam showroom carries bedding and furniture products made by long-time licensee Far East Foam.

    “We have enjoyed a fantastic reception in Asia over the past few years with its growing middle and upper classes,” says Kingsdown president/CEO Frank Hood.

    “As wealth spreads throughout the region, it made sense to expand our presence with our good partner Far East Foam. American products are held in high regard in this region.”

    Kingsdown entered the Chinese market with its My Side and BedMatch brands in 2012, and following “significant” growth is set to open 46 more branded retail stores across the mainland. These Kingsdown stores will sell its popular collections, as well as products specifically designed and developed for the Chinese marketplace, the company says.

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