# DFS shrugs off shoppers’ Budget worries as orders rise

By Dan Coatsworth — 2025-11-14

Dan Coatsworth, head of markets at AJ Bell, said: “With considerable uncertainty over what the Budget might bring, and a weakening jobs market, one might have expected buying a sofa to be the last thing a consumer wants to do. DFS’ trading update implies otherwise.

“It says the past 19 weeks have been good for the business, with growing orders against strong year-on-year comparative figures.

“DFS is clearly doing something right to show resilience in a tough market.

“The big unknown is whether that positive momentum is derailed by the contents of the Budget.

“It’s possible that Chancellor Rachel Reeves will dish up some unpleasant news that weighs on the public in the near-term and causes people to seal their wallets shut.

“Buying a sofa is a discretionary purchase and it’s easy to throw a rug over a tatty three-piece to make it last longer than go and buy a new one.

“DFS is at the mercy of the Chancellor and might need to have a lie down on one of its products if family finances come under renewed pressure.”

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