DFS continues its robust performance into the current financial year, advancing previous growth.
- The retailer reports ongoing growth in order intake over the first 20 weeks despite previous losses.
- Cost reduction efforts are sustained as DFS aims to bolster financial performance.
- Marie Wall is appointed as the interim chief financial officer, starting 2 December.
- The appointment follows the planned departure of John Fallon as CFO.
DFS has reported that its strong trading performance from the previous financial year has successfully carried over into the new financial period. The furniture retailer has shown consistent growth in order intake within the first 20 weeks of its current financial year, according to a recent update. This positive trend aligns with the expectations and efforts from the end of the previous fiscal year.
In its latest annual results, despite the optimistic trading updates, DFS reported a pre-tax loss of £1.7 million for the 53 weeks ending 30 June 2024. However, the company remains committed to reducing costs, an initiative that has been carried forward from the last financial year.
Marie Wall has been appointed as the interim chief financial officer, with her tenure commencing on 2 December. Wall will be reporting directly to CEO Tim Stacey. She brings a significant amount of financial leadership experience from her previous senior roles at Wolseley, Dixons Carphone, and most recently as deputy CFO at Imperial Brands.
CEO Tim Stacey expressed confidence in Marie Wall’s ability to strengthen the leadership team, commenting, “I am very pleased to welcome Marie to our group. She is a strong addition to our leadership team bringing with her a wealth of financial leadership experience, as we pursue our growth strategy.”
This leadership transition comes in light of John Fallon’s planned departure from his position as CFO, which takes effect on 22 November, with his final day at DFS scheduled for 17 January. The company has been proactive in ensuring a smooth transition with Wall stepping in as interim CFO.
The strategic adjustments in leadership and continued focus on financial performance signal DFS’s commitment to reinforcing its market position.
