Dunelm posts strong sales and record profit
Homewares retailer Dunelm has posted strong first half growth with total sales up 10.6% year-on-year to £795.6 million and 36% up on pre-pandemic levels two years ago.
In the six months to 25 December, sales in the retailer’s stores were buoyant while online sales more than doubled as the retailer continued to invest in its digital capabilities and a new ecommerce fulfilment facility in Stoke.
Dunelm said the growth was broad-based across nearly all product categories, with good performances in its furniture categories which grew by over 30% in areas such as dining chairs and beds.
The retailer posted a record pre-tax profit of £140.8 million in the period, which was 25.3% up on the first half of last year.
Nick Wilkinson, Dunelm chief executive, said: “I would like to express my sincere appreciation to all my colleagues and our committed supplier partners for their adaptability and achievements and for living our Dunelm shared values every day. Together we have navigated another period filled with significant and evolving external challenges and delivered a very strong performance in the first half, with continued growth in customer numbers, further market share gains, record sales and particularly strong profitability.”
Dunelm has revealed that trading to date in the second half, including its winter sale, has been encouraging. It now anticipates that full year pre-tax profit will be in line with its recently upgraded market expectations.
Wilkinson added: “When we announced our interim results in 2020, we were weeks away from the world being turned upside down. Two years later, we are moving forwards as a bigger, better business, with more capability, more resilience, more ambition, and delivering accelerated growth.”
