The furniture retailer announced at its interim results in March that it expected revenues of £1,000m- £1,015m and profit before tax to be in the range of £20-125m, with an “additional profit risk of up to £4m” if shipping delays in the Red Sea continued throughout the year.

It has since announced that it expected profit before tax to be between £10-12m ahead of its results from the 53 weeks to June 30.