DFS demand bounces back after cost-of-living caution hit summer

FURNITURE retailer DFS has revealed its orders have bounced back since September after the company saw customers being cautious about spending over the summer.

The firm told shareholders that order volumes have grown yearon-year since early September, following “significant decline” over the previous two months.

DFS said it is therefore on track to deliver pre-tax profits of £36 million for the current full year.

In September, the retailer reported a significant slump in profits for the year to June as it warned that soaring bills meant fewer customers were looking to buy new furniture.

It came as the business said it was being impacted by “industry-wide Covid-related supply chain issues, double-digit cost inflation on raw materials and ongoing colleague absence and skill shortages”.

Yesterday, the firm said it continues to be “watchful” of the uncertain backdrop but hailed the improving picture.

Chief executive Tim Stacey said: “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.”