Sales continue to improve at DFS as interim finance boss hired

Furniture retailer DFS has said sales have continued to improve in recent months, as it also hired a new interim finance boss.

It comes after the sofa specialist saw sales slump over in late 2023 and earlier this year as shoppers pulled back spending on big ticket items.

Revenues had dropped by almost a tenth in the year to June amid pressure from Red Sea shipping delays and pressure from high interest rates on household finances.

However, it had reported an uptick in performance from July as customer sentiment rebounded.

On Friday, the London-listed business said this has continued, with it reporting a growth in orders year-on-year for the 20 weeks since the start of July.

It said this order growth is in line with previous expectations.

DFS said it has also continued to make progress on reducing its cost base. The company has previously laid out plans to secure at least £50 million in cost savings by 2026.

The company also told shareholders it has appointed Marie Wall as its new interim chief financial officer from next month.

Ms Wall, who has previously held senior finance roles at Imperial Brands, Wolseley and Dixons Carphone, will take the role ahead of the departure of John Fallon as DFS’s finance chief.

Tim Stacey, chief executive of DFS, said “I am very pleased to welcome Marie to our group.

“She is a strong addition to our leadership team, bringing with her a wealth of financial leadership experience as we pursue our growth strategy.”