Belfast Telegraph

DFS admits challenges in store after mixed results

By Ravender Sembhy

Furniture retailer DFS, which has one store in Northern Ireland at Boucher Road in Belfast, is forecasting a tough year ahead after posting a mixed set of results for the first six months of the financial year.

The retailer reported a 4% rise in sales in the 26 weeks to January 27.

However, excluding the sales of recently acquired Sofology, revenue was down 3.5%.

DFS, like other retailers, has been thumped by a faltering economy in the UK, falling consumer confidence and the Brexit-induced collapse in the value of the pound.

Soaring inflation caused by the pound's demise has pushed up shop prices for hard-pressed consumers, leading retail sales across the board to slump.

Looking ahead, DFS again pointed to the collapse in consumer confidence making for a difficult market.

Belfast Telegraph

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