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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Mar- 2024 -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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7 SeptemberDIY
DFS secures £250m in credit facilities
DFS has completed a new £200m revolving credit facility and £50m issue of US private placement notes, replacing the retailer’s existing £215m RCF. The new credit facility, which has been agreed with existing banking partners, will mature in September 2027 and includes an option to extend a further 16 months. …
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Jul- 2023 -17 JulyHigh Street
DFS hits FY23 profit guidance amid record market share
Furniture retailer DFS has announced that it has hit its profit guidance of just over £30m for the year ended 25 June 2023. DFS stated that it hit this target despite the market being “significantly worse than expected”. The company’s gross margin rate continued to improve supported by freight costs…
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11 JulyProperty
British Land praises ‘winning’ retail park format ahead of AGM
British Land chief executive, Simon Carter, has said that retail parks “continue to be a winning retail format” due to their affordability, omnichannel compatibility and low capex requirements ahead of the group’s AGM. This comes as the retail park format continues to perform strongly for British Land, with occupancy reaching…
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Mar- 2023 -21 MarchProperty
British Land hails £120m in gross capital activity amid acquisitions
British Land has announced that it has made more than £120m in gross capital activity after acquiring three new retail parks and selling 50% stake of its Preston retail park. The company completed the acquisition of three high quality retail parks for a total of £94m and sold its 50%…
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