StockMarketWire.com - Furniture retailer DFS Furniture said recent trading had been stronger than expected, as consumers spend more on their homes during the pandemic.

The company said that since a previous update on 14 July, it had continued to trade 'strongly' both online and in its showrooms.

Year-on-year order intake growth over the past six weeks was equivalent to about £70m of revenues.

'This trading is significantly ahead of our initial expectations and is in addition to our previously announced strong opening order book that will generate a further in year revenue benefit of about £100m,' DFS said.

'We believe that this trading performance reflects a combination of consumers currently spending more on their homes relative to other sectors, latent demand caused by the nationwide lockdown and also a strengthening advantage from our hybrid digital and physical retail offering, which is particularly relevant in this consumer environment.'

To be sure, the company noted significant uncertainty related to Covid-19 and the potential impact of Brexit made it 'exceptionally difficult to assess the outlook beyond the short term'.

'While positive trading momentum currently remains we do note that some consumers may be bringing forward spending decisions and this may impact trading later in the financial year,' DFS said.




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