Online surge lifts DFS to strong profit forecast
By Rob Freeman | 22nd December 2020
Furniture retailer DFS saw online sales soar by 76 per cent in the second half of the year compared to 12 months ago.
Despite many of its branches being closed for part of the six months to December 13, the company reported a 19 per cent rise in gross sales.
And it predicted profits would be in the upper half of the forecast range.
A company statement ahead of next month's scheduled half-year trading update said: "Although our financial performance will never be immune to the short-term market environment, we believe our cash generation across the cycle and our overall growth prospects will drive attractive long-term financial returns for our shareholders."
DFS said the sales had been achieved "despite ongoing disruption" to supplies from Europe.
Chief executive Tim Stacey said: "While the current environment is clearly unpredictable, our business model is resilient and we are well set for medium-term growth.
"We are working all hours focusing on what we can control to look after our people and our customers."
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