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Tom Winnfrith Bearcast: Brexit bollocks, the real threats to the economy, Crest Nicholson's dividend and Charlie & Lola
Over fifteen years ago I think to remember going to my local DFS (DFS) and really irking the salespeople by paying for my sofa upfront and in full. Clearly I am financial illiterate as I should have taken up the four years free finance and whatever other inducements were thrown at me at the time...but regular readers will know I am no fan of debt at any level.
Following a June profit warning which saw them down to 200p, shares in DFS Furniture (DFS) had recovered to above 230p. They are currently though back below 220p on a “Post-Close Trading Update”…
A “Trading Update” announcement from DFS Furniture (DFS) includes that “we believe our expectations for the next financial year are realistic”. The shares are though currently more than 20% lower at around 200p, with the announcement also updating that “the trading environment has however recently weakened beyond our expectation, with significant declines in store footfall leading to a material reduction in customer orders”. Uh oh…
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