Dunelm hails ‘strong’ quarter trading amid reopening demand
The company reported £380.1 million in revenues for the three months to June 26, representing a 43.9% rise against the same period in 2019.
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Your support makes all the difference.Homeware retailer 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 company reported £380.1 million in revenues for the three months to June 26, representing a 43.9% rise against the same period in 2019, before the pandemic struck.
It said it was buoyed by the reopening of its stores in April while digital sales continued to post significant growth.
Dunelm said its profits for the past year are on track to be “slightly ahead” of analyst predictions as a result of the positive trading update.
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
Bedding, curtains, bathroom textiles and cushions all saw positive sales over the quarter as shoppers continued to spruce up their homes.
The firm 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.
Nick Wilkinson, Dunelm’s chief executive, said: “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.
“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.”
Shares dipped 2.8% lower to 1,398p in early trading.