The soaring cost of living has left DFS sitting distinctly less comfortably, with Britain’s biggest sofa seller warning yesterday that its annual profits would be towards the bottom of previous forecasts.
However, although it said present trading conditions had been “significantly worse than expected”, the furniture retailer added that it had gained market share and would be well-placed for when the market recovered,
Shares in DFS responded with a 5.3 per cent, or 6p, jump to 119¾p last night.
In March DFS said its profits would be between £35 million and £30 million, lower than earlier estimates, and yesterday it went further, saying that its profit for the year to June 25 would be only slightly above £30 million, about half the £60.3 million in
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