DFS Furniture makes good start to the winter sale trading period during 'challenging' time

It said group order intake for the period was up by 10.6 per cent compared to the pre pandemic period in 2019.

Commenting on outlook, DFS said: “Current order intake performance remains strong, with the important winter sale trading period starting well.

"While the macroeconomic and consumer outlook remains hard to predict, our mid case FY23 (full year 2023) guidance remains unchanged at £36m profit before tax and brand amortisation, with the range narrowing to £30m to £40m.”

The statement added: “This assumes the improved momentum we have seen in order intake continues through the second half, alongside delivery of planned margin improvements and normalisation of the order bank which remains elevated at the end of the first half due to the weighting of order intake. Profit delivery will be second half weighted with first half profits expected to be in mid-single digit millions.”

DFS said it remained committed to lead furniture retailing in the digital age.

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

“As always, we continue to invest for the long term success of the business, to further strengthen our market leading position and with our established platforms, scale and expertise we believe we are well set up for growth over the medium term"