DFS Sees Rise In Demand After Previous Decline

DFS reported its trading update on Friday, which saw the company report a rise in demand since September.

In DFS’s previous report, the company noted the market had softened slightly since April 2022. In addition, the group stated there had been a significant decline during July and August.

However, since early September, the furniture retailer has observed a more positive trend, with group order volumes growing relative to FY22 and also relative to the pre-pandemic FY19.

DFS stated its overall performance is in line with its mid-case scenario of approximately £36 million profit before tax for the full year. Given the order intake, the business anticipates profits to favour the second half of the year.

Furthermore, the company commented on the uncertain macroeconomic outlook as inflationary pressures remain high. However, the retailer said it remains focussed on executing its strategy and it is well positioned to maintain its trend of market share gains.

“We are pleased to report that since mid September we have seen positive year-on-year order volume growth,” said Tim Stacey Chief Executive.

“While we continue to be watchful of the macro economic environment, we continue to take market share and our market leading position, inherent scale and proven strategy give us confidence in our future prospects.”

DFS shares are currently trading 5.24% higher this morning.

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