DFS: ‘Good start’ to winter sale

DFS has said that its winter sale has had a ‘good start’ as it expressed confidence in its full-year forecasts.

The group says it has seen a 10.6% rise in orders in the six months to 25 December compared with 2019, down 4.8% on the previous financial year.

Completed sales are 9.6% higher than 2019 and 1.1% lower on 2022.

‘Current order intake performance remains strong, with the important winter sale trading period starting well. Whilst the macroeconomic and consumer outlook remains hard to predict, our mid case FY23 guidance remains unchanged at £36m profit before tax and brand amortisation, with the range narrowing to £30m-£40m. 

‘This assumes the improved momentum we have seen in order intake continues through the second half, alongside delivery of planned margin improvements and normalisation of the order bank which remains elevated at the end of the first half due to the weighting of order intake. Profit delivery will be second half weighted with first half profits expected to be in mid-single digit £ millions.’

DFSEdin

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