The furniture seller reported a £1.7million pre-tax loss for the 53 weeks to the end of June, compared to a £29.7million profit in the previous 12 months.
DFS has tumbled to a loss in the past year after it was hit by shipping delays in the Red Sea, as well as falling sales and higher interest rates.
Bosses said the 'disappointing' results are an 'inevitable result of the market backdrop', which has forced DFS to slash its dividend and sharply increase its borrowing. Read More I ordered a DFS sofa 18 months ago and STILL don't have all the right parts: CRANE ON THE CASE Revenues from continuing operations slumped 9.3 per cent over the period to £987.1million on the back of lower order intake and the impact of shipping disruption.
Stacey said: 'It is clear that the upholstery market has a long road to recovery given the 20 per cent decline on pre-pandemic levels that we have seen.
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