DFS falls to loss in face of Red Sea shipping delays and high interest rates

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Furniture retailer DFS has tumbled to a loss for the past year after it was hit by Red Sea shipping delays and higher interest rates. The sofa specialist said sales were significantly down year-on-year due to “exceptionally low market demand”. “Despite the challenges we have faced, we remain confident that the business is well positioned to capitalise on market recovery.” Julie Palmer, partner at Begbies Traynor, said: “DFS’s results today are evidence of a company that has suffered through an exceptionally tough year, with gross sales and revenue taking a hit after the retailer experienced the lowest demand on record, supply chain disruption in the Red Sea and persistent economic headwinds. “While consumer confidence remains shaky, there is also cautious optimism that demand will recover, bolstered by recent housing market improvements and growth in real household disposable income.