DFS

DFS names interim CFO as it sees improved trading

DFS has announced it has appointed Marie Wall as interim chief financial officer reporting to chief executive officer, Tim Stacey. Wall, who will start her role on 2 December, has previously held senior finance roles at Imperial Brands, Wolseley and Dixons Carphone. Following the announcement on 17 October 2024, DFS…

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Today’s news in brief-17/10/24

N Brown has agreed to a £191m takeover by Falcon 24 Topco, a company led by Joshua Alliance, a member of the founding Alliance family. Joshua, who already holds a 6.6% stake, will acquire the fashion retailer at 40p per share. Other family members, including former chair Lord David Alliance,…

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DFS chief financial officer to step down

Retailer of living room and upholstered furniture DFS has announced that chief financial officer John Fallon is set to step down from his role.  Fallon has said that he will not stand for re-election at the company’s AGM on 22 November. He will remain as CFO throughout the remainder of…

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Today’s news in brief-25/9/24

Asos, facing significant financial challenges, has initiated consultations to potentially cut over 200 jobs at its head office. The move comes amidst a restructuring aimed at reversing recent heavy losses, including a £120m increase in half-year losses and an 18% decline in sales. Asos plans to streamline operations and focus…

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DFS swings to £1.7m loss amid Red Sea stock delays

DFS has reported a loss before tax of £1.7m for the year ended 30 June due to “record” low market demand and Red Sea shipping disruption deferring sales and profits to future periods. By June 2024, adjusted profit before tax stood at £10.5m, having fallen £20.1m year-on-year to below DFS’…

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Today’s news in brief-12/6/24

The UK economy stalled in April 2024, showing no growth after a 0.4% increase in March, as wet weather significantly dampened consumer spending, according to the Office for National Statistics. Services output did rise by 0.2% for the fourth consecutive month and grew by 0.9% over the three months to…

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DFS slashes FY guidance amid Red Sea disruption and weak demand

DFS has downgraded its full-year guidance amid “challenging” consumer demand and ongoing disruption issues in the Red Sea, which have caused delivery delays and higher freight costs. In its latest update, the company said it now expects profit-before-tax to be in the range of £10m to £12m in the full-year, down…

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Today’s news in brief-19/3/24

Castore has secured the Umbro Pro Team Sports licence. This strategic move positions Castore as an exclusive marketer of Umbro products in several European countries, including the UK, Germany, and the Netherlands. Through this partnership, Castore aims to capitalise on Umbro’s heritage and authenticity in football culture, targeting a new…

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DFS lowers guidance and warns on Red Sea Crisis

DFS has revealed that it has lowered its full year profit guidance to between £20-£25m after market demands weakened in January and February Alongside this, the company lowered its revenue guidance down to £1bn-1.15bn, a £60-65m drop. The company has warned that these ranges do not factor in the risk…

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Currys shareholder Redwheel warns of stock market decline

Currys’ largest shareholder, Redwheel, has warned that more foreign firms will begin to circle London companies after the electronics retailer rejected a takeover bid from US hedge fund Elliott, The Telegraph has reported.  Redwheel, which holds 14.6% of shares in Currys, said it was in “complete agreement” with the retailer’s…

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