Dunelm upgrades profit forecast following strong sales
Dunelm has seen its total sales climb by 59% in the first seven weeks of its fourth quarter compared to the corresponding period in 2019.
In a trading update, the homewares retailer said sales growth has been “very strong” since the majority of its stores reopened on 12 April after lockdown. It has also seen good online growth from its home delivery and click & collect channels.
As a result, Dunelm now expects its full year pre-tax profit to come in significantly ahead of analysts’ expectations at in excess of £148 million, although it warned there is still some uncertainty in its short-term outlook.
The retailer attributed the performance to the strength of its customer proposition, pent up demand following the end of lockdown restrictions, and a buoyant homewares market.