Dwell looks to beds and non-upholstery as ‘attractive growth opportunity’

Furniture retailer Dwell, part of the DFS Furniture Group, has reported a decline in sales as losses narrowed.

According to its latest filed accounts for the year ended 27 June 2021, total sales were down 28% to £22.3m from £31.2m in 2020.

Gross profit decreased from £15.1m to £10.4m, while pre-tax losses resulted at £2m, narrowing from £7.5m recorded the previous year.

Stated within its report, the company said it had restricted operations to enable its wide range of products to be sold more seamlessly to DFS customers, both instore and online.

Dwell’s integration into the DFS brand operating structure resulted in a significant reduction in operating losses.

“With a total addressable market of c.£5bn, we see the beds and non-upholstery living market as a particularly attractive growth opportunity for the group. We are able to leverage many of the group’s assets, including manufacturing capability for upholstered furniture, web and logistics platforms, marketing expertise and brand partnerships to develop a truly compelling offering,” the company added.

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