DFS order volumes recover in September
The retailer’s overall performance is in line with its mid case scenario of around £36m in profit before tax for the full year
DFS has reported that its order volumes have grown relative to FY22 and the pre-pandemic financial year since early September, following the group’s full year result announcement on 15 September.
It is reported that the retailer’s overall performance is in line with its mid case scenario of around £36m in profit before tax for the full year, following the group’s FY22 full year results on 15 September.
The news follows the furniture retailer’s warning on the softening of the upholstery market since April this year, having experienced a “significant” decline during July and August.
It is reported that in September the company announced its intention to purchase a further £10m in shares, having purchased around £25m under the programme to date. The general authority for the programme is said to expire at today’s (4 November) AGM, where a resolution to renew the authority will be considered by shareholders.
In addition, Ian Durant will reportedly step down as chair today, as Steve Johnson, the current chair of the remuneration committee, will replace him in his role.
Tim Stacey, CEO of DFS, said: “We are pleased to report that since mid September we have seen positive year-on-year order volume growth. While we continue to be watchful of the macro economic environment, we continue to take market share and our market leading position, inherent scale and proven strategy give us confidence in our future prospects.”
