Shares in furniture retailer DFS crash more than 20% after warning the general election has hit profits
|06/15/2017||Posted by BusinessMediaguide.Com under General World News||
LONDON – Shares in DFS, one of the UK’s biggest furniture retailers, crashed more than 20% after blaming the general election for warning investors on profits.
The company said it saw “significant declines in store footfall leading to a material reduction in customer orders,” blaming “the general election and the uncertain macroeconomic environment.”
“As stated previously, the upholstery market does see short-term demand fluctuations from time-to-time, within an overall historical trend of long-term growth,” DFS said in a statement released to investors on Thursday.
Shares fell as much as 24% before recovering to around a 20% drop.
Here’s the chart as of 8:24 read more >>>