This is an elegant example of offering a “collect in store” option. I think all too often “reserve and collect” on an ecommerce site can be overly complex, with too many checkout stages, an unnecessary search to locate your nearest store, and restrictions on which products can be collected from which stores.
The Futon Company admittedly only has 20 or so stores, and probably most orders would be for a single item; the checkout process gets less elegant later on if you want to amend products and delivery options. But I do like the simplicity of presenting the store options on the product page, and how the the benefit (“Collect from Store save £45”) is communicated.