// Dunelm expects to beat original profit forecasts for the year as it launched new digital platform
// A move to a new website did not impact Dunelm’s sales performance, with strong online sales maintained
// Dunelm’ margins also better than predicted due to “sourcing gains and better sell-through”
Dunelm has said it anticipates full-year pre-tax profit will be higher than previous expectations after a period of “strong sales growth” amidst its online launch.
In an update to the stock market, the homeware and furniture retailer said it expected to beat original profit forecasts for the year as it cheered the launch of its new digital platform.
Dunelm said the move to a new website did not impact its sales performance, allowing it to maintain strong online sales.
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It added that margins were better than predicted on the back of “sourcing gains and better sell-through”.
Analysts predicted Dunelm would post pre-tax profit of £131.9 million and EBIT of £133.3 million in its 2019/20 financial year.
“Gross margins have been stronger than expected as a result of sourcing gains and better sell through,” Dunelm said in its statement this morning.
“Operational costs remain well controlled and in line with our expectations.
“In light of the above, the board now anticipates that the full-year profit before tax will be higher than our previous expectations, assuming no significant change in consumer demand as a result of the outcome of the general election.”