Furniture retailer DFS has said in a trading update that order intake for the 26 weeks to 24 December 2023 was down by 1.1 per cent on the previous year but that it had outperformed what it described as a challenging market. Gross sales on orders delivered to customers were down by 5.6 per cent year on year.
DFS has therefore reduced its revenue guidance and now expects between £1.02bn and £1.04bn for the half year.
Tim Stacey group CEO, DFS commented: “The group has performed well in tough trading conditions. Despite a weaker than expected market, good operational performance and progress on gross margins and lowering our cost base have enabled us to deliver a profit for the first half that is slightly ahead of the prior year and we remain on track to deliver our full year profit target.”
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