Trading Update and Directorate Change

DFS Furniture PLC

21 November 2024

 

22 November 2024

For immediate release

DFS Furniture plc

Trading update and Directorate change

DFS Furniture plc (the "Group", "DFS"), the market leading retailer of living room and upholstered furniture in the United Kingdom, provides the following update in advance of its Annual General Meeting later today.

Trading performance

As announced at our full year FY24 results on 25 September 2024 we noted an improvement in trading performance in the final quarter of the period with year on year growth in our order intake. This trend has continued into the current financial year, with order intake remaining in growth over the first 20 weeks of the period, inline with our expectations. In addition, the progress made on reducing our cost base through FY24 has also continued through the current financial year to date.

We will provide further details on Group performance at the post close announcement on 17 January 2025.

Appointment of Interim Chief Financial Officer

Marie Wall will be joining the business as Interim Chief Financial Officer on 2 December 2024 and will report into Chief Executive Officer, Tim Stacey. Marie has previously held senior finance roles at Imperial Brands, Wolseley and Dixons Carphone.

Following the announcement on 17 October 2024, DFS confirms that John Fallon will step down from the Board on 22 November 2024 and will leave the business on 17 January 2025, ensuring a thorough handover to Marie.

Steve Johnson, Chairman, said, "Marie's experience and skills make her ideally suited to take on the role of Interim CFO, I am delighted Marie has agreed to join DFS at this key moment for the Group."

Tim Stacey, CEO, 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."

There are no other disclosures required under Listing Rule 9.6.13

Enquiries:

DFS (enquiries via Tulchan)

Liz McDonald (Group Company Secretary)

Phil Hutchinson (Investor Relations)

[e-mail]

Teneo

James Macey-White

Ayo Sangobowale

Victoria Boxall

[phone]

[e-mail]

About DFS Furniture plc

The Group is the clear market-leading retailer of living room furniture in the United Kingdom. Our Group purpose is to bring great design and comfort into every living room, in an affordable, responsible, and sustainable manner. We operate an integrated physical and digital retail network of living room furniture showrooms and web sites in the United Kingdom and Republic of Ireland, trading through our leading brands, DFS and Sofology. We attract customers through our targeted and national marketing activities and our reputation for high quality products and service, breadth of product offer and favorable consumer financing options. We fulfill orders for our exclusive product ranges through our own three UK finished goods factories, and through manufacturing partners located in the UK, Europe, and Far East, and delivered with care through our expert final-mile delivery service "The Sofa Delivery Company Limited".

 

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