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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Jun- 2021 -10 JuneDepartment Stores
DFS FY21 revenues climb 10.4%
DFS Furniture has revealed its revenues increased by 10.4% during the first 49 weeks of FY21 when compared to FY19 levels. In a trading announcement made ahead of the group’s full-year results on 27 June 2021, the furniture retailer claimed that it expects profit before tax for the period to…
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Mar- 2021 -9 MarchHigh Street
DFS revenues jump 17.3% in half-year results
DFS Furniture has announced its revenues increased by 17.3% to £572.6m in the 26 weeks to 29 December 2020, due to a rise in demand for living room furniture during lockdown. The retailer reported a strong trading performance over the period, which included a series of tiered lockdowns across the…
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Dec- 2020 -22 DecemberNews
DFS sales bolstered by soaring online business
DFS has announced that sales were up by 19% in the half-year ended 13 December 2020, while online sales soared by 76% against the prior year. In its latest pre-close trading update, the furniture retailer said its order bank “remains strong”, and is currently £200m higher year-on-year on a revenue…
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Sep- 2020 -24 SeptemberEconomy
DFS posts full year loss in preliminary results
Sofa retailer DFS has reported losses before tax of £56.8m, in the group’s preliminary results for FY20. For the FY period ending 28 June 2020 the retailer also revealed that revenues decreased by 30.2% to £724.5m. DFS said that the losses were driven by “reduced margin from lower revenue levels”,…
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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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