DFS Furniture (GB:DFS) has released an update.
DFS Furniture PLC, the UK’s leading living room furniture retailer, has revised its FY24 profit expectations to £10-12m due to persistent Red Sea shipping delays, resulting in delayed customer orders and increased freight costs. Despite a challenging upholstery market, the company has grown its market share to over 38.5% and has reduced operating costs, mitigating the profit impact. Looking ahead, DFS anticipates a recovery in market demand in FY25, bolstered by an expected lower inflation and interest rate environment.
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