Dunelm posts uplift in third quarter sales
Homewares retailer Dunelm saw its like-for-like sales rise by 4.6% in its third quarter despite “challenging” trading conditions.
In the 13 weeks to 31 March, total revenue climbed by 5.1% to £268.2 million.
Like-for-like sales in stores rose by 1.2% while online like-for-likes increased by 35.7%.
Dunelm chief executive Nick Wilkinson, who joined the business in February, said: “We’ve seen a good sales performance over the quarter, with like-for-like sales of 1.2% in stores and 35.7% online, despite a challenging consumer backdrop. Our continuing market share gains in the homewares category reflect the underlying strength of our brand and operating model and enhance our position as market leader. As a result, our expectations for the full year remain unchanged.”
During the period, Dunlem agreed with its existing syndicate partner banks to amend and extend its revolving credit facility for a further three years to March 2023, with two further one-year extension options. It increased the maximum facility size by £15 million to £165 million.
The retailer did not open any stores in the period which meant its total number of superstores remained at 169.
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