DFS “well set” for growth despite port disruption and raw material shortages
Furniture retailer DFS has announced it is confident about its medium term growth despite the disruption caused by COVID-19 and Brexit.
The firm, which announced a trading update for the 24 weeks ending December 13, is ‘confident’ that under WTO terms there are no tariffs applicable to its upholstered finished goods - despite experiencing shortages of raw materials.
During the period, the brand’s gross sales increased by 19 per cent compared with the comparable 24 week period ending 15 December 2019, with gross sales via its online channel up by 76 per cent against the same period.
DFS claims it has “prudently planned for the risk of an exacerbation of current port congestion and delays” and expects that it will continue to maintain growth despite ongoing disruption at UK ports and raw material supply issues.
Tim Stacey, group chief executive, commented: “I want to thank every colleague in our Group for their resilience, spirit and determination to overcome the many and varied operational challenges that we have faced since reopening our business after the first lockdown.
“We are working all hours focusing on what we can control to look after our people and our customers. I want to thank our customers for their patience given the ongoing disruption to our deliveries due to port congestion and raw material shortages, as well as apologise to those that have experienced delays.
“While the current environment is clearly unpredictable, our business model is resilient and we are well set for medium term growth.”
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