Dunelm like-for-like sales rise 3% in Q1
Dunelm, the clothing and homewares retailer, has reported a 3% increase in its first quarter like-for-like sales as total sales increased by 13.8% compared to the same period last year.
In the 13 weeks to 29 September, total sales reached £151.8 million from £133.4 million a year earlier.
The company said its gross margin had continued to increase year on year, with an estimated 40 basis points rise compared with the equivalent quarter last year. However, it expects the rate of increase to slow going forward due to a strategic price investment in key product areas.
Dunelm opened four new superstores in the quarter, including one relocation, bringing its total portfolio to 118 superstores across the UK. The retailer has committed to 10 further store openings including two relocations, with the majority of stores expected to begin trading in the current financial year.
Chief executive Nick Wharton said: "This solid quarter of trading reflects the unrivalled choice and excellent value which form the core of our Simply Value For Money proposition, leading to a further gain in market share on a like-for-like basis."
"Despite the challenging consumer environment, this performance further reinforces our confidence in our strategy and in the opportunity for future growth both through new stores, where our pipeline remains strong, and multi-channel."
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