DFS Furniture has secured a flurry of new orders since lockdown eased, but it cautioned uncertainty around Covid-19 and Brexit is making it tough to assess the longer-term outlook.
The sofa retailer, which is behind brands including DFS, Sofology and Sofa Workshop, said it has continued to trade strongly online and in stores since July 14.
In the last six weeks it agreed around £70 million of new orders. The trading is significantly ahead of initial expectations, and adds to £100 million of orders it had at the start of July.
The company has benefited from people spending more time at home, with many undertaking DIY jobs and buying new furniture. There is also pent-up demand caused by the lockdown.
But, the firm, led by Tim Stacey, said: “The financial year has started strongly, however we do note that significant uncertainty related to Covid-19 on UK consumer confidence and the potential impact of Brexit exists and it is exceptionally difficult to assess the outlook beyond the short term.”
It added: “While positive trading momentum currently remains we do note that some consumers may be bringing forward spending decisions and this may impact trading later in the financial year.”
