Online surge helps DFS growth
DFS saw sales almost a fifth higher in the second half of 2020, despite store closures and the pandemic.
Sales in the 24 weeks to 13 December were up 19%, with online sales 76% higher.
Like for like orders in the first 11 weeks were down by just 5%.
The group has also extended its banking facilities, allowing it to resume paying dividends.
‘I want to thank every colleague in our group for their resilience, spirit and determination to overcome the many and varied operational challenges that we have faced since re-opening our business after the first lockdown. We are working all hours focusing on what we can control to look after our people and our customers. I want to thank our customers for their patience given the ongoing disruption to our deliveries due to port congestion and raw material shortages, as well as apologise to those that have experienced delays. While the current environment is clearly unpredictable, our business model is resilient and we are well set for medium term growth,’ says Tim Stacey, DFS group chief executive.