DFS private equity owner Advent International is thought to be mulling a stock market flotation of the furniture retailer, which could value it at £1bn. Retail Week takes a look at the business.

  • Furniture retailer DFS now operates 98 shops in the UK after a store opening drive in the last four years. It had just 77 stores in 2009.
  • The growth has been driven by private equity owner Advent International, which acquired the retailer in 2010, after buying it from founder Lord Graham Kirkham for £590m.
  • It is led by executive chairman Richard Baker and chief executive Ian Filby.
  • DFS, which manufactures its own furniture, delivered EBITDA growth up 8.5% to £48.3m in the nine months to April 27 driven by new store openings. Sales jumped 7.8% to £481.8m.
  • DFS refinanced the business in March through a £310m bond issue, which it said created a more efficient capital structure for the business going forward.
  • This summer the retailer launched a new compact store format to enable it to open in smaller towns. It opened its smallest store at 10,000 sq ft in Stirling. An average DFS store covers 15,000 to 20,000 sq ft.
  • DFS is focusing on more store growth and replatforming its website next year.
  • It floated on the stock market in 1993 at £265m. But Kirkham bought it back in 2004 before then selling it on again six years later.