DFS
This coverage analyses DFS’s strategy, operations, and performance within the UK furniture retail market. Reporting focuses on financial results, store development, leadership appointments, supply chain initiatives, and market positioning. Content is aimed at retail executives, category managers, and planners monitoring consumer trends, competitive dynamics, and operational strategy in the home furnishings sector.
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Sep- 2024 -25 SeptemberDIY
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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Jun- 2024 -12 JuneNews
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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12 JuneDIY
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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Mar- 2024 -19 MarchNews
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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19 MarchHigh Street
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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Feb- 2024 -21 FebruaryElectrical
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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Jan- 2024 -19 JanuaryNews
Today’s news in brief-19/1/24
In December 2023, the Office for National Statistics (ONS) reported a significant 3.2% drop in retail sales volumes in the UK. This decline marked the most substantial monthly decrease since January 2021, following a modest 1.4% increase in November 2023. On an annual basis, sales volumes in 2023 fell by…
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19 JanuaryDIY
DFS downgrades sales guidance for FY24
DFS has downgraded its sales guidance for the year, after reporting that gross sales dropped 5.6% year-on-year during the 26 weeks ended 24 December 2023. The sofa retailer has attributed its muted performance to “the record hot weather in September and early October when footfall and demand proved to be…
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Sep- 2023 -21 SeptemberNews
Today’s news in brief-21/09/23
Wilko’s administrators PwC are reportedly set to begin a review of dividend payouts totalling £77m to investors over the past decade. The review will focus on payouts to the Wilkinson family and other investors leading up to the retailer’s decline. Notably, despite posting losses of £39m, Wilko paid out a…
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21 SeptemberDIY
DFS profits halve in full-year results
DFS profits have halved in its latest full-year results, falling by 49.2% to £29.7m, down from £58.5m the year before, as the group contended with a “very tough market” over the period. Revenues from continuing operations were also down by 5.3%, falling to £1.09bn Nonetheless, this was still 13.8% ahead…
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