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Dunelm to meet full year profit forecasts

Dunelm has said its full year profits will meet market expectations after third quarter total sales rose by 69% year-on-year to £399 million. The increase meant… View Article

HOME AND DIY RETAIL NEWS

Dunelm to meet full year profit forecasts

Dunelm has said its full year profits will meet market expectations after third quarter total sales rose by 69% year-on-year to £399 million.

The increase meant that year-to-date total sales were up 37% from the same period two years ago prior to the pandemic.

While in-store sales were strong, online sales were more than double the level of two years ago.

Dunelm said customers responded well to its winter sale held in the first few weeks of the quarter. During the period, the retailer continued to refresh its product ranges, with its new ‘Summer Living’ products performing particularly well. It also launched a collection in collaboration with the Natural History Museum.

Nick Wilkinson, Dunelm chief executive, said: “It has been another good quarter for Dunelm with sustained growth across all of our homewares categories, particularly as customers ready their homes and gardens for the summer. Performance has been strong across all channels and our new facilities for ecommerce and furniture fulfilment are now fully operational, which will enhance our multi-channel proposition, whilst providing the capacity for further growth.”

Looking ahead, Dunelm said it expects its full year pre-tax profit to be in line with market expectations despite the macro-economic outlook remaining highly uncertain.

Wilkinson added: “Our wide product range offers choice for every budget, whether replacing everyday essential items or refreshing a room in your home. The resilience of the Dunelm business model and the ability of our colleagues to adapt quickly to changing circumstances give us confidence in our plans and we remain well placed to continue to grow market share.”

Dunelm opened a new superstore in Leeds on 1 April which took its total estate to 176 stores.

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