DFS has revealed it had a “strong” second half of trading as chief operating officer Jon Massey steps down after 27 years at the retailer.
- Jon Massey is reitring from full time exec roles
- Sofa Workshop and Dwell now making a positive contribution to group sales growth
- DFS will open two further stores in Netherlands in coming year
The furniture retailer’s gross sales for the second half to July 18 were up 4% year-on-year against “more demanding comparatives and the extra trading week last year”.
In a pre-close trading update, gross sales for the retailer for the financial year to date are up 7% on the previous year.
DFS added its Sofa Workshop and Dwell fasciae have “continued their recovery in performance” since being acquired and are now making a positive contribution to sales growth.
They added a one percentage point improvement to sales growth between them, but their profit contribution to the group is “limited”.
Massey, who is aged 66, is retiring from a full-time executive position this autumn, but will retain an advisory role.
Following its launch in the Netherlands with a store in Cruquius, DFS hopes to open two further stores in the coming year.
DFS claims its Netherlands launch has generated “very positive customer feedback” due to its range breadth, interest-free credit availability and customer service proposition. It added all of these were “reflected in the trading performance”.
DFS expects to offer its first dividend as a public company in October.