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Gloucestershire Business News

Sales growth for sofa retailer

Homeware and furniture retailer, DFS, has bucked the retail trend, with growth in like-for-like sales across all of its brands.

The company, which has a store in Cheltenham, said results were boosted by its acquisition of Sofology, online sales, and from orders placed by customers who had deferred their purchases due to the heatwave of summer 2018, as reported by Retail Gazette.

For the 22 week period ending 30th December, DFS saw pre-tax profit more than double from £6.2 million to £14.1 million, while operating profit soared 41.9 per cent to £31.5 million. Group revenue was up 29.1 per cent to £422.3 million.

DFS said investing in online channels and delivery networks, as well as developing its brands, helped mitigate the impact of a challenging retail market. The company expects the market to remain challenging for 2019.

The retailer said it is continuing with its Brexit preparations, and sees consumer confidence and delays at the border as the main risks.

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