DFS Furniture gross sales grow, challenging market conditions to continue
Source - SMW
DFS Furniture reported gross sales in the 26 weeks to 27 January rose 4% from the same period a year ago and expects modest EBITDA growth in 2018 supported by product margin and operating cost efficiencies.
The group said its online channels, together with its developing Dwell business grew strongly while like-for-like trading momentum for the group strengthened during the first half of the financial year.
DFS opened four new UK DFS showrooms and one DFS showroom in the Netherlands during the half year, and converted existing leased space within DFS showrooms to accommodate five new Dwell stores and five new Sofa Workshop showrooms.
The recently acquired Sofology reported gross sales were nearly 13% higher than in 2016.
Expectations for full-year financial performance remain unchanged.
The company, warned, however, that the living room furniture retail market is likely to remain challenging in 2018, given current consumer confidence levels.
The Group will announce its interim results on 28 March 2018.
At 9:33am: (LON:DFS) DFS Furniture Plc share price was +3.1p at 195.3p