DFS Furniture gross sales and order intake slip YOY

Soft furnishings retailer DFS Furniture said on Friday that both gross sales and order intake had slipped year-on-year in the six months ended 25 December.

DFS stated first-half group gross sales, recognised on delivery of orders to customers, were down 1.1% year-on-year. However, gross sales also came in 9.6% higher when compared to the FY19 comparator period.

Group order intake was up 10.6% compared to the equivalent period in pre-pandemic FY19 but was down 4.8% against the prior trading year.

DFS also highlighted that current order intake performance remained "strong", with its important winter sale trading period "starting well".

Although the London-listed firm said the current macroeconomic and consumer outlook remained "hard to predict", with its mid-case FY23 guidance remaining unchanged at £36.0m in pre-tax profit.

Chief executive Tim Stacey said: "The group has traded well through the second quarter and the start of the important winter sale trading period. Whilst the macroeconomic environment remains challenging and hard to predict, we reiterate our full-year profit guidance supported by the positive current trading momentum."

As of 0910 GMT, DFS shares were up 1.44% at 161.89p.

Reporting by Iain Gilbert at Sharecast.com