Dunelm like-for-likes spike as revenues jump 24.8%

Dunelm update

Dunelm’s like-for-likes jumped 9.3 per cent in its last quarter, boosted by “favourable” weather and a surge in online sales.

In the 13-week period to September 30, the furniture and homeware retailer’s in-store like-for-like sales grew by 6.5 per cent while online sales surged 46.2 per cent

Meanwhile, total revenue for the first quarter jumped 24.8 per cent to £247.9 million.

Although its gross margin was down 220 basis points, Dunelm insisted the fall was in line with its expectations.

This is the first update from Dunelm since chief executive John Browett resigned at the end of August.

“Our like-for-like sales were boosted by favourable weather comparatives and, pleasingly, we continue to outperform the homewares market, with strong growth across the business, especially online,” chairman Andy Harrison said.

Dunelm opened five new stores in the period, taking its superstore footprint to 165 stores.

It is also signed agreements for a further five new stores, one of which is a relocation, all of which will open before the end of the calendar year.

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