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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Aug- 2020 -27 AugustM&A
DFS offloads The Sofa Workshop
DFS has announced an agreement to sell the entire issued share capital of The Sofa Workshop Limited to Halo Furnishings for a total of £300,000m. The gross assets of Sofa Workshop at 30 June 2019 were £10.2m, while the pre-tax loss in the 48 week period ended 30 June…
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25 AugustDepartment Stores
DFS trading remains ‘strong’ despite lockdown
DFS announced today it is continuing to trade “strongly” both online and in showrooms despite the economic downturn, with year-on-year intake growth over the last six weeks that is equivalent to approximately £70m of revenues. This trading is “significantly” ahead of the furniture retailer’s initial expectations, with its previously announced…
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Jul- 2020 -14 JulyCoronavirus
DFS to cut jobs as revenues slide
DFS has revealed that revenues were down by £271m in the year ended 28 June 2020, largely due to the pause in deliveries following the nationwide lockdown. In light of the “challenging outlook” for its current market, the group has now commenced an operational restructuring of Sofa Workshop and Dwell…
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Apr- 2020 -23 AprilCoronavirus
DFS raises £64m from shareholders and directors
DFS revealed it has successfully raised £64m through a share placing in a move that will “significantly increase its financial resilience” amid the ongoing pandemic. In addition, the furniture retailer also received credit approval for a new 12-month bank facility of £70m from its existing lending banks. This new bank…
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20 AprilCoronavirus
DFS remains ‘confident’ as it plans equity raise
DFS has confirmed that it is in the advanced stages of negotiating an additional debt facility amid the ongoing coronavirus pandemic. The furniture retailer is now seeking between £60m and £70m of funding with its existing lending banks in order to supplement its existing bank facility of £250m. This additional…
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Mar- 2020 -10 MarchHigh Street
DFS sales slide amid ‘challenging’ conditions
DFS has announced that its group revenue fell by 5.7% to £488m in the half-year period ended 29 December 2019. The furniture retailer said that such results were “as expected” against a “strong” comparative period, however, which was bolstered by “latent demand” and a higher opening order book. Meanwhile, gross…
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Jan- 2020 -14 JanuaryHigh Street
DFS profits to meet expectations despite ‘challenging’ trading
Furniture retailer DFS has said it expects full-year profits to be “broadly in line” with market expectations of £50m-£53.6m, despite a “challenging” trading period which saw half-year sales decline. For the 26-week period to 29 December 2019, DFS revealed that gross sales decreased by 6% compared with the “comparatively strong”…
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Jul- 2019 -11 JulyHigh Street
DFS shares fall over ‘Brexit uncertainty’ despite sales growth
Furniture retailer DFS saw shares drop by nearly 4% in early trading today (11 June), despite a 17% increase in like-for-like sales for the year ending 30 June 2019. It came after the retailer warned investors that it remains “mindful” of the “volatile” political and economic backdrop, and how it…
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Mar- 2019 -14 MarchHigh Street
DFS revenues jump 29.1% in H1 results
Furniture retailer DFS has reported a 29.1% increase in group revenue to £422.3m for the 22 weeks ending 30 December 2018. Reported profit before tax more than doubled to £14.1m during the period from £6.2m last year, and underlying pro-forma EBITDA increased by 23.8% to £32.8m. The retailer also opened…
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Jul- 2018 -12 JulyEconomy
Hot weather springs profit warning at DFS
DFS has announced a profit warning, blaming poor sales performance on decreased high street footfall during the hot weather, disruption to supply chains, and “lower than expected order intake”. The furniture retailer said it expects EBITDA for the full financial year to be down on last year’s total of £82.4m,…
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