StockMarketWire.com - Furniture retailer DFS Furniture said it expected performance to be 'broadly' in line with market expectations even as a challenging consumer environment weighed on sales in the first half of the year.

For the twenty-six week period to 29 December, gross sales declined by 6% on-year.

The furniture retailer blamed a challenging market environment impacting footfall and the performance in the strong prior year period that was driven by latent demand and a higher opening order bank.

Following a subdued August and September, order intake momentum had strengthened and the key winter sale trading period had started satisfactorily, it added.

'Based on low single digit revenue growth assumed in the second half we expect full year profit before tax and brand amortisation will be broadly in line with market expectations (of £51.2m and in a range of £50.0m to £53.6m on pre IFRS 16 adjusted basis),' DFS said.

The group was set to announce its interim results for the period ending 29 December 2019 on 10 March 2020.


At 9:40am: [LON:DFS] DFS Furniture Plc share price was -14p at 266p



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