DFS Furniture has reported promising progress in the current fiscal year, with increased order intake and ongoing cost reductions providing a strong foundation for continued growth.
The UK-based furniture retailer, announced on Friday that trading has improved further in the new fiscal year.
In a trading update ahead of its annual general meeting, DFS confirmed that order intake has continued to grow during the first 20 weeks of fiscal 2025, aligning with expectations. The company also highlighted progress in reducing its cost base, a strategic priority that has shown results in the current financial year.
Photo: DFS.
Leadership updates
DFS also announced changes to its leadership team, naming Marie Wall as interim Chief Financial Officer, effective December 2. Wall, who will report to CEO Tim Stacey, brings extensive experience in financial leadership, having held senior roles at Imperial Brands PLC, Wolseley, and Dixons Carphone.
The current CFO, John Fallon, will step down from the board on November 22 and officially depart the company on January 17, 2025. CEO Stacey praised Wall as a "strong addition" to the management team, emphasizing her "wealth of financial leadership experience" as critical to supporting the company's growth strategy.
Positive Market Response
Clive Black, a retail analyst at Shore Capital, described the trading update as "fairly encouraging," adding that it will likely come as a relief to shareholders and stakeholders in the broader UK discretionary consumer goods market. He noted that the news stands out positively amid the general demand weakness that has characterized much of 2024.
Outlook
With a continued focus on growth and operational efficiency, DFS Furniture appears poised to navigate the challenges of the discretionary consumer market while delivering value to shareholders and customers alike. Further updates in January will provide a clearer picture of the company's progress and strategic trajectory for the remainder of fiscal 2025.
More information:
DFS
www.dfs.co.uk