The DFS Furniture group reports that it has maintained good sales growth through the first half of its current financial year (26 weeks to 30th January 2016), reflecting a "healthy furniture market environment" and the success of its strategic initiatives – including measured store expansion in the UK and overseas, the continued development of its omnichannel proposition, and the enhancement of its product range.
Gross y-o-y sales growth was 7%, continuing the trend reported in previous periods, with gross sales in the 12 months to 30th January 2016 up 5% on the previous year.
The group says that Sofa Workshop, Dwell and DFS Netherlands have all contributed encouragingly to overall sales growth, and have seen continued operational investment as a result.
Finance director Bill Barnes will retire in the summer after almost 13 years with the company, when Nicola Bancroft, currently commercial finance director, will become CFO and an executive director from 1st August.
The DFS board believes that the group is in a strong position to sustain its record of sales growth, market share capture and cash generation, and its financial expectations for the full year remain unchanged.