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Dunelm like-for-like sales up 2.9% in second quarter

Homewares retailer Dunelm saw its second quarter like-for-like sales rise by 2.9% following the launch of its second autumn catalogue and first ever TV advertising campaign.

GENERAL MERCHANDISE

Dunelm like-for-like sales up 2.9% in second quarter

However, like-for-like sales in the half year to 28 December 2013 edged down 0.9% as a result of trade in the first quarter being negatively impacted by unusually warm weather in the period. Total revenue for the half year grew by 4.8% to £356.3 million.

The retailer now expects to make a pre-tax profit of around £61.5 million for the six month period.

Dunelm said it was trading from 131 stores at the end of the half year and that it expects to open four new stores in the remainder of the financial year. In the medium term, Dunelm is aiming to operate around 200 superstores across the UK.

The retailer made continued progress in its multi-channel business in the period following the successful transition to a new fulfilment centre in October, which has resulted in the provision of further capability in home delivery and the capacity for additional growth going forward. In the most recent quarter, multi-channel represented approximately 6% of total revenues.

Commenting on the half year performance, Dunelm chief executive Nick Wharton said: "Dunelm traded robustly during this key period with our trusted "every day low price" positioning retaining a strong appeal for customers. Our home delivery proposition has become much stronger as a result of our new fulfilment centre, and we are beginning to see the benefits from our increased advertising investment to drive brand awareness.

"With a strengthening customer proposition, increasing brand awareness, a significant new store growth opportunity and an exciting multi-channel agenda in place, the Board remains confident in the long term growth prospects for the business."

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