DFS hit by first profit fall in 28 years
Article Abstract:
Declining consumer spending has had a negative impact on DFS Furniture, the largest upholstery chain in the UK. The company has announced its first decline in profits for 28 years, and this has prompted City analysts to reduce forecasts for its 1999 profits by 20%. Furniture retailers have been badly affected by a trend among consumers away from expensive items such as sofas and armchairs as they become more concerned about income and job security and focus on essentials such as food and clothes.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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No Christmas cheer for British industry
Article Abstract:
The UK manufacturing sector is facing significant difficulties. A considerable number of factories have had to shut down temporarily, while others are operating a shorter working week. The manufacturing sector has been in decline throughout the whole of 1998, with around 60,000 jobs having been lost. However, this decline has accelerated as the year draws to an end. The main factors having a negative impact on manufacturing include the strength of the pound and cheap imports from Asia.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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