Saturday, February 23, 2019

Dunelm quashes Brexit fears with strong full year sales


Dunelm has reported strong full-year profits as it brushes off Brexit uncertainty.

The furniture retailer posted a 6.2 per cent rise in pre-tax profits to £128.9 million since last year.

Despite Brexit fears, the company‘s revenue also rose by 7.1 per cent to £880.9 million, and it announced announced ambitious expansion plans across London and the south east, hoping to increase its store numbers from 157 to 200.  

In-store, it saw like-for-like sales grow by one per cent over the year.

“Post-Brexit, we are confident the same opportunities exist now. We have ambitious plans to continue to grow our business,” chairman Andy Harrison said.

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It plans to initiate its expansion plans this year by opening nine new stores, three of which are in London.

Chief executive John Browett added: “We continue to outperform the homewares market, and despite potential challenges to the economy over the coming months and the dampening effect on footfall of recent hot weather, we believe that Dunelm’s competitive position can come into its own, and are confident of continuing to deliver our growth ambitions.”

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