Roof falls in on DIY and furniture: Wickes and DFS warn over sales


Roof falls in on DIY and furniture: Wickes and DFS warn over ‘softening’ demand as customers tighten their belts

DIY and furniture retailers became the latest to warn that shoppers are spending less because of the cost of living crisis.

Home improvement business Wickes and sofa giant DFS said they had both seen ‘softening’ demand for their products over the past few months as customers tighten their belts.

Wickes’s warning came despite a strong first half to the year, with shoppers rushing for insulation products to improve efficiency in a bid to cut down on energy bills. 

Home improvement business Wickes and sofa giant DFS said they had both seen ‘softening’ demand for their products over the past few months as customers tighten their belts

Revenues were £822million in the six months to July 2022, up 1.3 per cent on the previous year, but profit shrank 9 per cent to £56.3million as the business absorbed inflation in materials such as timber and cement.

Like Wickes, DFS also posted a fall in profits for the full year, tumbling to £60.3million from £109.2million.

Boss Tim Stacey described the 12 months as ‘the most operationally challenging’ he can remember as soaring bills meant fewer customers are in the market for a sofa. 

‘We are not alone in having to navigate these issues,’ he added.

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