// DFS sees boost in order volumes ahead of the festive season
// It expects overall performance to be £39m profit before tax for the financial year
DFS has seen a boost in its order volumes ahead of Christmas, as it reports a “positive trend”.
The furniture retailer said order volumes had grown relative to full-year 2021 and pre-pandemic 2019 in September and October.
DFS said it expects its overall performance to be £39 million profit before tax for the financial year, which was in line with its mid-case scenario at the beginning of the year.
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DFS chairman Ian Durant will step down from his role at the AGM this afternoon and will be replaced by ex-Asda and Matalan executive Steve Johnson.
Despite the economic uncertainty, DFS said it is “focused on executing our strategy to lead furniture retailing in the digital age”.
“We are pleased to report that since mid-September we have seen positive year-on-year order volume growth,” DFS chief executive Tim Stacey said.
“While we continue to be watchful of the macroeconomic environment, we continue to take market share and our market-leading position, inherent scale and proven strategy give us confidence in our future prospects.”
Ahead of the AGM, DFS said it would be extending its share buyback scheme, which began in March, to buy back a further £10 million worth of shares.
