Monday, January 24, 2022

Dunelm total sales up 21.2% in Q4

Out-of-town homewares retailer Dunelm Group has today announced a total sales increase of 21.2 per cent for its fourth quarter.

In the 13 weeks to June 30th 2012, the specialists saw total sales increase to £149.7 million, while like-for-like (LFL) sales rose 10.4 per cent over the period.

Such strong results have been attributed to the unusually wet weather during the quarter, boosting footfall across its stores.

A trading statement from the group said: “The attractiveness of our customer offer – based on deep choice and excellent value – enabled us to deliver robust underlying revenue growth in the final quarter of the financial year.

“Like-for-like sales growth was exceptionally strong, boosted by the unusually wet weather over much of the quarter which ensured consistently strong footfall into stores.

“We estimate that the net benefit to total revenues from the weather conditions was approximately £8m in the quarter.”

This follows an overall drop in footfall across its portfolio in February and March this year, causing the group to admit it remained “cautious about the wider economy and recognised its impact on consumer confident.”

Full year figures for the 52 weeks to June 30th revealed that total sales soared 12.1 per cent to £603.7 million with LFL sales growing by 3.1 per cent.

As a result of these positive figures, Dunelm now predicts that profit before tax for the year will be around £96 million, ahead of current consensus expectations.

With a portfolio now totalling 115 stores, the retailer noted that its Cambridge store, which was expected to be completed prior to year-end, will not open until August, though one new superstore in Greenford opened during the 13 week period.

Dunelm CEO Nick Wharton commented: “The final quarter has seen further strong progress throughout the business, with robust like-for-like sales trends. In addition, we have continued to drive growth through new stores and our multi-channel offering, which now represents around three per cent of revenue.

“Our continued focus on developing our ‘Simply Value for Money‘ proposition has seen further market share gains.

“Looking ahead, we anticipate that consumer spending will remain under pressure.

Nevertheless, with ten further store openings committed, a strengthening multi-channel offering and with our unique proposition resonating with a wide range of customers, we remain confident in the future growth prospects for the business.”


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