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Orders rise at DFS despite Budget uncertainty
(Sharecast News) - DFS Furniture said on Friday it had seen a positive start to the year, despite uncertainty around the upcoming Budget weighing on the wider market. Updating on training ahead of its annual general meeting, the retailer - which sells sofas and other furniture through its two brands, DFS and Sofology - said it had seen order intake grow across the 19 weeks to 9 November, in line with expectations.
It also flagged an "improved" financial performance.
As a result, DFS said it remained on track to meet its full-year guidance.
It said: "While it is still relatively early in our financial year, and we are mindful of the broader macroeconomic environment and the uncertainty created by the upcoming Budget, we remain comfortable with the range of consensus profit expectations."
Tim Stacey, chief executive, added: "Despite the upholstery market remaining subdued, we have grown order intake across both our retail brands, ahead of the market, and progressed our gross margin and cost base initiatives leave us in a good position to deliver strong first half year-on-year profit growth."
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