Home news FTSE lower while DFS shares hit by sales slide

FTSE lower while DFS shares hit by sales slide


Shares in sofa retailer DFS fell 6.6% after it warned its full-year earnings would be at the lower end of estimates.It said second-half revenues had slid 4% after “significant declines in store footfall and customer orders” from April to June.DFS said the sector had been hit by “the uncertain economic environment”, the general election and warm weather in May and June.It expects earnings to be at the low end of its £82m-£87m forecast.The benchmark FTSE 100 was down 90.24 points, or 1.2%, at 7,407.82 shortly after midday as worries over tensions between the US and North Korea affected sentiment, while a raft of firms going ex-dividend also weighed on the index.BT Group, Anglo American and Lloyds Banking Group were all among the biggest fallers as their shares began trading without the right to the latest shareholder payout.But soft drink bottler Coca-Cola HBC jumped 7.8% after it said first-half sales had been boosted by hot weather.Revenues in the first six months of the year rose 5.6% to 3.21bn euros (£2.9bn), helped by June’s hot weather, and operating profits jumped nearly 21% to 266.4m euros.In the FTSE 250, shares in Cineworld rose 3.2% after the cinema chain reported surging sales and profits.Blockbusters such as Beauty And The Beast, Guardians Of The Galaxy Vol. 2 and The Fate Of The Furious helped the company to report a 17.8% rise in half-year revenues to £420.2m, with pre-tax profit jumping 57.5% to £48.2m.On the currency markets, the pound was unchanged against the dollar at $1.3001 and rose 0.3% against the euro to 1.1092 euros.
Source: BBC