DFS defies retail gloom
FURNITURE retailer DFS saw sales grow by more than 12% in its first quarter as it continues its programme of store openings.
The Doncaster-headquartered business saw sales hit £144m in the three months to the end of October.
Ebitda also grow 17.2% to £10.2m after £600,000 of investment in growing both its retail and manufacturing capacity.
DFS chief executive Ian Filby said: “A good result for the first quarter of 2012/13 continues the positive performance of last year’s second half.
“Our store opening programme is firmly on track, while we are simultaneously enhancing our successful and growing online business to offer a fully multi-channel experience including our sofa and room planning app. We opened a new store in Stockport during the first quarter and have since opened a further new store in Stirling, while our second store in the Republic of Ireland will open at Cork tomorrow. Our Cannock store has also relocated to an improved site.
“We are pleased to be creating an additional 200 jobs through our expansion this financial year.
“Our good performance in the year to date, in what remains a challenging market place, underlines the strength of DFS as the UK market leader in upholstered furniture. We remain confident that we have the right strategy, proposition and team in place to make this another year of exciting progress for DFS.”
The company said its new stores were “performing well”.
