DFS posts note of caution after surge in sales
By Rob Freeman | 25th August 2020
DFS has reported a surge in revenue to kick off its new financial year after posting a loss over the previous 12 months.
And the furniture retailer has warned of more uncertainty in the coming months with the twin hurdles of the coronavirus and Brexit.
DFS reported the loss of £58million for the 12 months to June as revenues dropped by £271m with deliveries suspended for a lengthy period during the coronavirus lockdown.
But it said revenues are £70million up over the past six weeks compared with the same period a year ago with consumers spending more on their homes during and after lockdown.
A company statement said: "The financial year has started strongly, however we do note that significant uncertainty related to COVID-19 on UK consumer confidence and the potential impact of Brexit and it is exceptionally difficult to assess the outlook beyond the short term.
"While positive trading momentum remains we do note that some consumers may be bringing forward spending decisions and this may impact trading later in the financial year."
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