Dunelm profits to be ahead of forecasts after quarterly sales jump 44%

Dunelm profits to be ahead of forecasts after quarterly sales jump 44%
Dunelm hails ‘strong’ quarter trading amid reopening demand.
// Dunelm profits for the past year to be “slightly ahead” of expectations after a “strong” trading since reopening stores
// It reported £380.1m in revenues for the three months to June 26, representing a 43.9% rise against the same period in 2019
// Dunelm was buoyed by pent-up demand from shoppers after they returned to stores while digital growth remained strong

Dunelm has hailed a “strong” jump in sales for the past three months on the back of pent-up demand from shoppers returning to stores.

The furniture retailer reported £380.1 million in revenues for the three months to June 26, representing a 43.9 per cent rise against the same period in 2019, before the Covid-19 pandemic struck.

It said it was buoyed by the reopening of its stores since April 12, while digital sales continued to post significant growth.


READ MORE:


Dunelm said its profits for the past year were on track to be “slightly ahead” of analyst predictions as a result of the positive trading update.

Bedding, curtains, bathroom textiles and cushions all saw positive sales over the quarter as shoppers continued to spruce up their homes.

The retailer said it has seen stocks return to normalised levels after the surge in demand but has continued to “experience disruption” in its global supply chain due to the pandemic.

“Although our stores were closed for more than a third of the year, our strategy of investing in our digital capabilities allowed us to adapt to the changing environment and deliver strong growth,” Dunelm chief executive Nick Wilkinson said.

“From what we have learned during the pandemic about our customers, colleagues, suppliers and our other stakeholders, we are more confident than ever about the opportunity to increase our market leadership and we will invest further in our proposition to support our growth ambitions.

“With many exciting developments in the pipeline to make us the first choice for home, and grow our customer base and frequency, there is a lot to look forward to.”

with PA Wires

Click here to sign up to Retail Gazette’s free daily email newsletter

LEAVE A REPLY

Please enter your comment!
Please enter your name here