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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  DFS Furniture plc    DFS   GB00BTC0LB89

DFS FURNITURE PLC

(DFS)
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DFS Furniture : upbeat on order bounce after lockdown sales hit

07/14/2020 | 03:15am EST

British retailer DFS Furniture said on Tuesday orders had picked up strongly since stores re-opened followed coronavirus lockdowns, while reporting a roughly 27% fall in sales for the year to the end of June due to delays in deliveries.

British retailer DFS Furniture said on Tuesday orders had picked up strongly since stores re-opened followed coronavirus lockdowns, while reporting a roughly 27% fall in sales for the year to the end of June due to delays in deliveries.

The upholstery retailer, like thousands of businesses, had to pause operations as Britain went into lockdown in March, hitting sales and driving emergency cost cuts and moves to prop up cashflow to ride out the crisis.

Its annual results showed revenue for the year ended June 28 dropped by about 271 million pounds ($339.83 million) to 725 million pounds.

The company said trading on its website had accelerated during the lockdown, however, and that the reopening of showrooms with safety measures in place had seen a 69% surge in new orders between June 1 and July 12 compared to a year earlier.

"Order intake in showrooms following re-opening has been markedly above prior year comparatives, reflecting latent demand," DFS said.

Shares in the company rose around 3% in early trade and brokerage Peel Hunt said the company was off to a "good start" while some competitors struggled.

($1 = 0.7974 pounds)

(Reporting by Pushkala Aripaka in Bengaluru, Editing by Sherry Jacob-Phillips)


© Reuters 2020
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Financials
Sales 2021 1 088 M 1 448 M 1 448 M
Net income 2021 79,4 M 106 M 106 M
Net Debt 2021 593 M 789 M 789 M
P/E ratio 2021 7,44x
Yield 2021 1,73%
Capitalization 597 M 796 M 794 M
EV / Sales 2021 1,09x
EV / Sales 2022 1,19x
Nbr of Employees 3 000
Free-Float 95,4%
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Mean consensus BUY
Number of Analysts 6
Average target price 256,67 GBX
Last Close Price 231,00 GBX
Spread / Highest target 42,9%
Spread / Average Target 11,1%
Spread / Lowest Target -22,1%
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Managers
NameTitle
Timothy Giles Stacey Group Chief Executive Officer & Director
Ian Charles Durant Non-Executive Chairman
Scott Fishburn Chief Operating Officer
Michael Schmidt Group Chief Financial Officer & Director
Russell Harte Director-Group Technology
Sector and Competitors