Dunelm hails robust first quarter performance
Dunelm has said it put in a robust trading performance in its first quarter despite a drop in sales.
In the 13 weeks to 1 October, sales fell by 8% year-on-year to £357 million but were 36% higher than the same period pre-pandemic three years ago.
Dunelm said the sales decline was expected given the very strong comparative period in the first quarter of last year when it benefited from pent up demand and a rescheduled summer sale.
Digital sales accounted for 33% of total sales in the quarter which was in line with the same period last year.
Nick Wilkinson, chief executive of Dunelm, said: “It has been another robust quarter for Dunelm against a very strong comparative period, which illustrates the strength and resilience of our business model and the appeal of our market-leading offer.
“Dunelm has emerged from the last two years as a bigger, better business, with total sales up 36% against the same period pre-Covid. We have benefitted from the commitment, expertise and adaptability of our colleagues and supplier partners – the same qualities that are serving the business as we navigate the current inflationary challenges.”
The retailer said its full year guidance remains unchanged despite a challenging macroeconomic environment.
Looking ahead, Wilkinson said: “As we enter what will clearly be a challenging winter for consumers, our absolute focus remains on making every pound count for everyone, through a tight grip on operations. We will continue to offer outstanding value at all price points, so our customers can make their own choices around adapting to the economic backdrop. This focus on value has seen Dunelm successfully navigate previous periods of economic uncertainty.”
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