Dunelm ups guidance amid ‘record’ quarter
It comes as the retailer saw total sales hit £407m in the quarter ended 25 December 2021, up by £46m against FY21 and £84m against FY20
Dunelm has welcomed a “record” quarter of trading in recent weeks, and now expects its half-year profit to be around £140m, up from £112m the prior year, with full-year results expected to be ahead of previous guidance.
It comes as the retailer saw total sales hit £407m in the quarter ended 25 December 2021, up by £46m against FY21 and £84m against FY20.
While Dunelm said this “excellent” performance included “particularly encouraging” growth from its stores, it noted that digital sales have also doubled since the pre-Covid Q2 comparative period in FY20.
According to the group, its growth was “broad based” across nearly all products, with a particularly strong performance in furniture which reportedly reflected better availability and extended ranges.
Looking ahead, the group said it will continue to invest in its digital fulfilment capacity, having recently opened a new ecommerce operation in Stoke. The latest facility will reportedly enable it to offer shorter lead times to customers.
Nick Wilkinson, CEO, said: “We are delighted with our ongoing strong performance, which demonstrates the growing appeal of our homewares offer and includes some standout contributions from our furniture and seasonal categories.
“I would like to thank our fantastic colleagues and supplier partners for their ongoing commitment to serving our customers in the face of continued Covid challenges and industry-wide supply chain disruption.”
He added: “Our integrated physical and digital shopping experience has transformed since we launched our new digital platform in October 2019. These advances have enabled us to reach more customers with our brand and specialist homewares product range, whilst also providing a much improved customer experience.
“Our digital platform and capabilities also give us more confidence and ambition for the future.Whilst there are several macro uncertainties to be navigated, we feel well placed to continue to deliver profitable growth across all channels and grow market share as the first choice for home for UK homelovers.”
