“Sofa retailer DFS is sitting comfortably
DFS has become the latest retailer to benefit from resilient spending from middle-income earners as it welcomed an uptick in orders in recent weeks. The sofa retailer said that while the upholstery market had “softened markedly” this year it had benefited from a rise in order volumes since early September.
Tim Stacey, chief executive, said the company had benefited from serving “middle and upper” earners in recent weeks. He said: “We’ve seen a better picture for those consumers who have a reasonable amount of cash and are feeling confident. With employment being strong, those people have come out in September and October, and we’ve seen that trend continue.
“Our consumer segments are the middle and upper segments. DFS is a mass market player and we’re seeing good growth. So we are benefiting from the targets that we go for. We’re not seeing significant trading down, if anything, average orders are up.”“
https://www.thetimes.co.uk/article/s...ably-jpw7cj9t3
DFS has become the latest retailer to benefit from resilient spending from middle-income earners as it welcomed an uptick in orders in recent weeks. The sofa retailer said that while the upholstery market had “softened markedly” this year it had benefited from a rise in order volumes since early September.
Tim Stacey, chief executive, said the company had benefited from serving “middle and upper” earners in recent weeks. He said: “We’ve seen a better picture for those consumers who have a reasonable amount of cash and are feeling confident. With employment being strong, those people have come out in September and October, and we’ve seen that trend continue.
“Our consumer segments are the middle and upper segments. DFS is a mass market player and we’re seeing good growth. So we are benefiting from the targets that we go for. We’re not seeing significant trading down, if anything, average orders are up.”“
https://www.thetimes.co.uk/article/s...ably-jpw7cj9t3
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