LONDON - DFS Furniture, a leading British furniture retailer, today reaffirmed its full-year profit forecast, projecting underlying pretax profits to be in the range of £30-35 million. This announcement comes despite the company facing a year-over-year market volume decrease of 5-5.6% and experiencing reduced consumer demand.
CEO Tim Stacey voiced confidence in the resilience of the company, attributing its ability to maintain profit forecasts to strategic cost reductions and operational efficiencies. Stacey highlighted the company's commitment to its strategic growth plans and emphasized an 8% pretax profit margin target.
Investors and stakeholders are looking forward to DFS Furniture's interim report, which is scheduled for release on March 19, 2024. The report will provide insights into the company's performance up to December 24, 2023, and will likely offer a more detailed view of how DFS has navigated the challenging retail environment.
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