Dunelm posts 12.3% rise in pre-tax profits
Dunelm has reported a 12.3% leap in its annual pre-tax profits as the homewares retailer continues to expand its store portfolio and multi-channel offer.
In the year to 29 June 2013, Dunelm increased its pre-tax profits to £108.1 million from £96.2 million in the previous financial year. While like-for-like sales rose by 1.7%, total revenues increased by 12.2% to £677.2 million.
During the year, the retailer continued to make gains in market share and now has 6.9% of UK homewares market. It also opened over 400,000 square feet of selling space through 14 new superstores to take the total number of stores to 126 at the year end. A further 10 new stores are contractually committed.
Having invested in website development and digital marketing, the retailer has seen 80% growth in its multi-channel revenues which now represent over 4% of total business.
Commenting on the results chief executive Nick Wharton said: "Dunelm delivered robust trading results over the year, in a demanding retail environment. We have strengthened our specialist proposition, improved customer service in store and increased the profile of our brand. Each of these, together with our traditional product strength, has enabled us to increase sales on a like-for-like basis.
"We have also made good strategic progress, scaling our business through new stores and multi-channel, and strengthening our infrastructure. I would like to thank all my colleagues for their hard work and commitment in achieving this."
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