Furniture specialist DFS is basking in a positive 2014/15, as it announced a 7% increase in sales over the past year, as well as plans to further expand in the Netherlands.
The sofa and soft furnishings giant was acquired by private equity firm Advent in 2010 and has performed vigorously ever since, despite difficult economic times. In March this year, Advent floated DFS on the stock market, with a valuation of around £543m.
Online sales reached 10.9% of overall sales in its first half, with investments in a more engaging website and fulfilment, literally paying off.
Towards the end of last year DFS, the UK’s second biggest furniture retailer, opened its first store outside the UK and Ireland near Amsterdam at the end of 2014. Now it is preparing to open another two stores in the Netherlands following positive feedback from customers.
“DFS's arrival in the country has generated very positive customer feedback, particularly in terms of range breadth, interest-free credit availability and customer service proposition, all of which are reflected in an encouraging trading performance,” the company said in a statement.
In addition, DFS said that its acquisitions of Sofa Workshop and Dwell had contributed to sales growth by about 1%.
It has also been announced that the retailer’s Chief Operating Officer Jon Massey will retire from his role in autumn, after serving 27 years at DFS.