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Will investors need to take a seat following DFS Furniture’s half year results on Thursday?
Despite some very healthy figure, in January DFS said that it remains ‘cautious’ around its full year outlook, the company ‘mindful of the broader political and economic uncertainty and the further risk this may pose to consumer confidence’, alongside the potential impact on leads times for the made-to-order products it sources from overseas.
Clearly DFS is very keen to manage investors’ expectations, so it’ll be interesting to see what kind of tone the company strikes on Thursday. As for pre-tax profit, any kind of improvement on the economic anxiety and heatwave hit full year figures will be welcome.
Read what Spreadex analysts have to say, or watch a 60 second earnings preview video, here: https://spreadex.com/?tid=388273
Sales up 10pc , maintaining profit expectation, but the CFO is leaving. Seen a rise here from Dec's 180 lows (particulatly since Dunelm reported) and prior to this news, so hoping for a further jump back up today..
Yes the bounce up was rapid from 190s, quite impressive. I previously held these from around 175p though which seemed like a value purchase back then, but sold out in 240s concerned about the p/e. Subsequently the persistent weather related news, too cold then too hot..its just not a concern for online retail business models, and frankly it's wearing a little thin. I like the acquisitions the business has made & strong brands but ultimately the falling profits I see as due to particular susceptibility to a weakening macro environment so wary of the fairly high valuation here.
CXS1 I think you are wrong.The retail volumes are growing,what the problem is that the price paid for products have not been going up due to competition while costs have.
I thought the results were not that bad considering most of the drop in profits were due to expanding the group.
Furniture is one area that was impacted by the hot weather and they are now recouping some of the lost sales as well as a hold up of some of their deliveries.Although the share price fell it soon bounced back up as it is very good value at these prices
Poor trading fourth quarter, blamed on the heatwave. Can't have helped but these on going profit drops confirm the significant retail downtrend. Div of 7.5p maintained this year, but looks increasingly precarious.
"this stock is doomed" .....What a difference 2 months can make.With wage growth accelerating,inflation falling and a stronger pound,since last summer since when DFS has reported an improvement, then maybe doomsday is postponed for now.
DFS can benefit from Maplins demise (lower rent) but if you have to get in the car you may as well trek to nearest IKEA and get better stuff, cheaper. This stock is doomed.
If carpets were this bad today, then think sofas will be very very bad
Looking at the share price today it does not seem to have taken a big hit by going ex dividend.Looking that directors bought last week it seems that the shares are very good value at the moment .Their stores are busy and their strategy seems right.I think that there will soon be a large increase.
It's multiple directors buying. And I followed today.
Held DFS over a number of years previously, remember the original floation well.
Have been biding my time, waiting for an opportunity to buy back in.
Poole, with respect you may be confusing revenue with profit, which can be very different!.
We have seen this week's sector news, it's a competitive market and DFS
are still here and thriving for a good reason.
I agree that this share is a strong buy.Whenever I go in they seem to be busy.Their strategy seems correct by opening dwell branches in their main stores as there can be so much cross selling.Only last year my son bought from both stores in separate locations and they could have lost him.This way you can nearly furnish the entire home.It also increases footfall as only having very large items means that people on visit your store when they need something big.Very strong buy as I still cannot understand why it has fallen so much recently.Also big dividend coming up
I believe this is a strong buy now with director deals going through. I have ordered in the past and had a great experience and they have good quality products. Yes i agree they sometimes don't fulfil orders on time and its not a good imagine to portray but hopefully this will improve since the share price drop and profit drop hopefully they understood they had to do things differently.
My attitude towards this share having been a holder for sometime, perhaps too long, is now drawing to a close. I became a customer in early September and ordered three items, a three seat sofa, two seater and footstool. It will be eleven weeks since the order was placed this coming Tuesday. Well past the promised six weeks and my patience is running out as both a share holder and customer. Little wonder the SP has been in decline if they can�t fulfil a simple order, make the promised update phone calls or even update �track my order� online, which still shows and earlier promise of 30 October. All well and good having TV adverts promising delivery in time for Christmas, this company is a joke all round and I�ll invest elsewhere. It just doesn�t seem to have much of a future.
No one shedding any light why share price falling ? I guess all the postive posters of a strong buy have sold up an moved to new pastures ?
The price of this share has started to move up since it fell quite sharply last week on the back of its results which were flagged two months ago.he company is well run and seem to be utilising their space well and everyone including me who have purchased from them are very happy with their service.My son who bought his first flat last year bought from both their brands.This share is in my view undervalued and will I am sure rise further in the future.
If someone asked you to put your your head in the oven would you do so.The furniture industry is very competitive and companies go bust very often.So just because someone is selling cheaper does not mean you should bur from them as they might not be in business next year.
I have been impressed with DFS for a number of years and bought shares this year as I fell they are doing all the right things by using their spare space for Dwell and this will give their stores more footfall and increase their exposure in the future.I think their share are at a low price at the moment and will only go up.
sorry...meant for ukog
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100% agree these irratation are easy fixes to stop customer /DFS staff conflicts on price matching from outsourced suppliers just have excusive material covering range for DFS ,but doubt people in high positions ( I will keep my thoughts to myself best )
DFS do make most of their furniture in Derby, but not all the furniture they sell is made by them, as a number of suites they buy in from suppliers who sell to all retailers, and it's the policy of DFS NOT to be competitive by not price matching and quite prepared to allow competitors to undercut them, and take business away from them which they are presently doing knowing DFS will NOT compete and this is the reason I sold all my shares, for I know if a company is not competitive then this is in my eyes is the start of such a company to fail ! and I am sure all fellow shareholders would wish only to be invested in companies that are competitive and if your thinking is the same as mine, then lets get change to happen !!
I was under the impression that all manufacturing took place at Dfs own factories in derby
What makes you think this is a very well run company when it run by an iron fist from the top and not incentives !
As a shareholder and in need of a new suite I went firstly to DFS and found a nice suite called Newbury and worked out the price of £3,400 and did not want to take up the offer of 4 years interest free credit by to pay cash, but in my own interested thought I would look at what competitors had to offer, so went into Fabbs which were 50 yards away and astonished to find the identical suite on show in identical covers, sizes , guarantees but their price was £3,100 with identical interest free offers, and a free delivery, and told by the sales person from Fabbs we know this is the identical suite and always stock it in the identical cover as DFS and undercut them in price and all the 'add-ons' so contacted DFS to ask " What was the companies policy to price comparisons " I pointed out this suite could be viewed 50 yards away from their store but the manager was not prepared to view for himself, just saying you must be wrong !
I then contacted DFS head office and told them they were being undercut by this competitor and what was their policy to price matching, they came back to say, we are fully aware we are being undercut, and we at DFS have one policy WE DO NOT PRICE MATCH EVEN IF ONLY £1 less, the customer either pays us our FULL asking price or told to buy from another competitor.
As a shareholder this is not what I wanted to hear, I replied saying 90% profit is better than none !!, and told, " shareholders do NOT run this company, it's run by one man at the top, and what he say's goes !!!!
It is obvious, if this is the man at the tops view, then in my view the man at the top is not working with the best interests of its shareholders, so have done what he suggested and sold my holding, as I want NOTHING to do with a company that has no morals, and during the next annual shareholders meeting, (which I wont not be attending ), having now sold my shares, but a member of the Press will be asking the question " Why don't DFS price match on identical items !, and why don't you act with the interest of your shareholders before your own personal ego !
In loyalty to my fellow shareholder here, I did purchased this suite from DFS and paid the £300 over the odds, this was never about the money, but the principle, and a company seen to be acting fairly, and also to let you fellow shareholder be aware of what happening, and if you feel happy to allow business to be given away then so be it, of if you think like myself, all companies should be seen to act fairly then ask, what are you going to about it, this is not just about the views of one man, shareholders have a right to have a say how the companies run, or do as I have and sold all.
I agree sofology is a good buy and with more stores and Dutch expansion into Eindhoven, revenue will increase and with margins better and refinancing saving £1m pa all bodes well for the next 6 months
Not a brilliant RNS but not as bad as i expected....this is still a very well run company and now with sofology in the mix I expect we will do very well......