THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Retail Events
People in Retail Awards 2024
Retail HR Central 2024
The Future of The High Street 2024
Retail HR Summit
THE Retail Conference
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Dunelm posts fall in full year profit

Dunelm has reported a decrease in full year pre-tax profit and said it expects its trading environment to remain challenging. In the year to 1 July,… View Article

HOME AND DIY RETAIL NEWS

Dunelm posts fall in full year profit

Dunelm has reported a decrease in full year pre-tax profit and said it expects its trading environment to remain challenging.

In the year to 1 July, profit fell to £92.4 million from £128.9 million in the previous year. Total sales grew by 8.5% to £955.6 million.

Meanwhile, like-for-like sales edged down 0.5% in the period although the retailer said sales in the first two months of the new financial year have started “positively”, with good like-for-like sales boosted by favourable weather comparatives.

Online sales in the year were up 23.5%.

Andy Harrison, Dunelm chairman, said: “Dunelm has made good strategic progress over the year, most notably with the acquisition of Worldstores, which moves us closer to our goal of being the biggest and best multichannel homewares retailer in the UK. Over the medium-term we are aiming to double our sales to £2 billion with 30%-40% from our increasingly important online channel.

“We expect the trading climate to remain challenging with the disposable income of UK consumers under pressure. Nevertheless, we have a full programme of management actions underway to further improve the Dunelm customer proposition, both online and in-store, increase our business efficiency and support our colleagues.”

The company expects to have opened a total of eight new stores by the end of the first half of the current financial year of which four are already open.

Dunelm’s chief executive John Browett stepped down in August and the company has commenced a search for his replacement.

Subscribe For Retail News