With the shares down by a fifth in a single day’s trading, one City analyst has called the profit warning from sofa specialist DFS (DFS) a "watershed" moment in British retail. It’s true that Britain’s shopkeepers tended to strike a cautious tone throughout the latest reporting season, but DFS appears to be the first to crack under the pressure of declining footfall trends, a rising cost base and – seemingly – a dwindling level of consumer spending.
To continue reading, register today
to enjoy limited access to the following:
- Daily trading news
- Funds coverage
- Features on big investment themes
- Comprehensive companies coverage
- Economic analysis