DFS and Wickes report weak demand for high-cost household goods

Sofa retailer warns profits will be 10m lower than hoped as DIY group says conditions remain challenging'

The furniture retailer DFS and the DIY group Wickes have warned of weak demand for high-cost household goods as consumers continue to cut spending in the cost of living crisis.

DFS, which specialises in selling sofas, said annual profits would be 10m lower than previously hoped and sales would come in up to 65m below expectations, adding that demand had weakened significantly" over the past two months.