Furniture retailer DFS cuts sales and profit targets due to weakened demand and shipping delays.
Furniture retailer DFS has cut its sales and profit targets for the year after demand "weakened significantly" in the past two months. The company now expects revenues of £1bn to £1.015bn and pre-tax profits of £20m to £25m, down from previous forecasts of £1.075bn to £1.1bn and profits of £30m to £35m. This follows a 16% drop in order volumes across January and February compared to last year. DFS also warned that continued delays to shipments through the Red Sea could further impact sales and profits.
March 19, 2024
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