DFS predicts growth after poorer summer
Furniture retailer DFS has suggested that it expects improved sales after a Summer which saw furniture sales drop.
In a statement released prior to the business’ Annual General Meeting later today, DFS noted a ‘positive trend’ in sales since September.
In the retailer’s 2022 fiscal year report in September, DFS noted that the upholstery market had “softened markedly since April” and saw a “significant decline during July and August”.
Since then, DFS has seen order volumes growing relative to the 2022 fiscal year and relative to the pre-pandemic 2019 fiscal year. The retailer also noted “continued evidence of positive market share gains”.
DFS said: “Whilst the macroeconomic outlook is uncertain and inflationary pressures remain high, we remain focussed on executing our strategy to lead furniture retailing in the digital age. Our business has proven to be resilient, and given our inherent strengths, we are well positioned to maintain our trend of market share gains across the economic cycle.”
Tim Stacey, Chief Executive of DFS Furniture PLC, commented: “We are pleased to report that since mid-September we have seen positive year-on-year order volume growth. While we continue to be watchful of the macroeconomic environment, we continue to take market share and our market leading position, inherent scale and proven strategy give us confidence in our future prospects.”