DFS Furniture expects return to growth after profit fall

DFS Furniture (DFS) said in July that the furniture market is faring “significantly worse than expected”, so it wasn’t a surprise that the retailer’s annual profits plunged as demand continues to be impacted by cost of living pressures. Revenue went in the wrong direction as more shoppers decided not to splash the cash on big-ticket sofas. But the market responded favourably to the reaffirmation of a return to profit growth in 2024, with the shares marked up by 6 per cent despite the confirmation of a lower dividend.