DFS Furniture warns 2018 profits will fall


DFS Furniture expects full-year 2018 earnings to be below those in 2017 as it blames disruptions to supplies and a UK heatwave that has kept sofa shoppers out of its stores.

The British sofa specialist also warned that the furniture market would continue to be tough over the next twelve months, and said revenues had fallen around 4 per cent like-for-like over the 49 weeks to July 7.

“Variable cost flexibility and reductions to discretionary costs, have provided some mitigation to this recent trading environment, however we currently anticipate reporting EBITDA for the full financial year below the prior year,” it added.