DFS first half sales up 7%
Furniture retailer DFS has reported that its strategy and performance are both on track after gross sales grew by 7% year-on-year in its first half.
The company said trading had been boosted by its growth strategy which includes store expansion and retail space release, the continued development of its omnichannel proposition, and the enhancement of its product range as it looks to appeal to more customers.
The Dwell and Sofa Workshop brands both “contributed encouragingly” to overall sales growth in the period.
Product margins were impacted by adverse foreign exchange movements but DFS said it is working to offset this through a range management and supplier negotiations.
Looking ahead, the company said: “We recognise that in 2017 the retailing of furniture in the UK faces an increased risk of a market slowdown given the uncertain outlook for consumer confidence. However, with its resilient operating model we believe the group remains very well positioned to respond to economic headwinds and cost pressures whilst achieving continued growth in its share of the UK retail furniture market.”
The retailer’s expectations for full year pre-tax profit remain unchanged.
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