Against a backdrop of challenging trading conditions, DFS Group delivered gross sales growth of 4 per cent in the 26 weeks to 27 January 2018, measured against the comparable 26-week period in the prior financial year (including the benefit of the acquisition of Sofology).
Gross sales for the Group, excluding the sales of Sofology, over the first half of the current financial year were 3.5 per cent lower than the prior year, but 3.3 per cent higher when measured over two years. Our online channels, together with our developing Dwell business have once again grown strongly within this overall performance.
The retailer opened four new UK DFS showrooms and one DFS showroom in the Netherlands during the half year, and converted existing leased space within DFS showrooms to accommodate five new Dwell stores and five new Sofa Workshop showrooms.
The acquisition of Sofology, part of its strategy of broadening the Group’s appeal, completed on the 30 November 2017 is already reaping purchasing benefits and, over the 2017 calendar year, Sofology gross sales were c.13 per cent higher than in 2016. It also completed the acquisition of eight showrooms, the brand and the intellectual property of Multiyork and expects the acquired stores, of which six will trade as Sofa Workshop, to open before Easter 2018.
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