Dunelm posts rise in sales and profit
Dunelm has reported a 4.1% increase in sales to £1.71 billion despite the impact of a softer homewares and furniture market.
In the 52 weeks to 29 June, pre-tax profit was also up, rising to £205.4 million from £192.7 million in the prior year.
Dunelm benefited from a 5.1% increase in its number of active customers where there was growth across all age, income and geographic cohorts.
Sales increased both in-store and online with digital now accounting for 37% of total sales compared to 36% a year earlier.
Dunelm chief executive Nick Wilkinson said: “In a period when consumers faced inflationary pressures and competing demands for their disposable income, we have continued to raise the bar on the relevance and value we offer at Dunelm.
“The continued delivery of volume-driven sales growth and further share gains in this softer market underlines this, and the strength and resilience of our business model.”
During the year, the retailer opened six new stores, including one relocation, as it looks ahead to growing its estate by five to ten stores a year in the medium term.
Looking ahead, Dunelm said it expects sales growth in FY25 to be driven by volume and market share gains.
Wilkinson added: “Whilst we are gradually seeing improvements to economic indicators, we are yet to see a meaningful change in consumer spending habits in our markets. Against this backdrop, and compared to a strong first quarter we have made a satisfactory start to FY25.
“Our plans gives us a clear pathway to reaching our next milestone of double-digit market share in the medium term, and we remain very confident in our ability to deliver long-term sustainable growth as a result.”
