DFS swings to full-year loss but registers strong reopening demand

DFS Dwell Oxford

DFS has slumped to a full-year loss exacerbated by declining sales following the coronavirus lockdown, but has said that customer demand since reopening has been high.

The furniture retailer, which removed its profit guidance following the outbreak of the coronavirus pandemic, has said it now expects to record a pre-tax loss in the range of £56-£58m excluding Sofa Workshop and Dwell restructuring costs over the 52 week period to June 28.

DFS sales dropped 27% during the period to £725m, although online orders have jumped 77% year on year in the period from March 23 to July 12 as shoppers switched to online spending during lockdown.

The specialist retailer said that sales following reopening have been “markedly above prior year comparatives”, with sales up 69% in the period from June 1 to July 12.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Three free article views per calendar month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.