Dunelm full year trading slightly ahead of estimates
Homewares retailer Dunelm has posted a strong full year performance with full year sales and pre-tax profit “slightly ahead” of consensus expectations.
In the year to 25 June, sales increased by 16% to £1.55 billion which meant they were 41% higher than pre-pandemic levels three years ago.
Nick Wilkinson, Dunelm chief executive, said: “Dunelm is a much bigger and stronger business than before the pandemic, with sales over 40% higher, due in large part to the huge strides we have made to develop our digital capabilities. Our growth continues to be driven by increasing market share as our customer base further expands.”
Meanwhile, the company is expecting its pre-tax profit for the period to be slightly ahead of analyst consensus of £207 million. This performance reflects particularly strong profitability in its first half when store sales bounced back following Covid-19 restrictions, as well as robust trading in its second half.
Looking ahead, Wilkinson said the macro-outlook remains uncertain, but added: “The business has successfully navigated previous periods of consumer uncertainty. With the inherent strength of our business model and strong operational grip, we have never been more confident about our ability to make the right long-term decisions for all of our stakeholders and to continue to grow our market-leading position.”
