In a trade update, DFS stated that group order intake for the 26-week financial reporting period ending 25 December 2022 was up 10.6 per cent compared to the same time before the pandemic, but down 4.8 per cent compared to the previous fiscal year.
Group total sales increased 9.6 per cent compared to the previous fiscal year, but down 1.1 per cent compared to FY22.
Following a period of poor market-wide demand at the start of the fiscal year, the retailer stated that trade rebounded in the second quarter. It also announced a successful start to its crucial winter sale trading period.
While the macroeconomic and consumer prospects remain uncertain, DFS’s mid-case FY23 guidance remains stable at £36m profit before tax and brand amortisation, with the range narrowing to £30m to £40m.
The business has done strongly through the second quarter and the commencement of the key winter sale trading period, said Tim Stacey, group chief executive of DFS.
While the macroeconomic climate remains complex and difficult to anticipate, we confirm our full-year profit guidance, which is backed by the current good trading trend.