Homewares retailer Dunelm has reported a growth in sales in its last quarter and the full year as sales volumes grew despite uncertain market conditions.
Dunelm Group reported a 4% increase in year-on-year sales to £1.7bn, while sales in the fourth quarter grew by 5% to £399m, with good performance from both store and digital channels.
The retailer said its strong performance despite a challenging environment was largely due to volume-driven sales growth as it focused on value, choice and relevance across its product range.
The retailer expects profit before tax to be slightly ahead of current market expectations for the full year with company compiled consensus at £200m.
Chief executive Nick Wilkinson said: “We delivered another strong performance in Q4, with continued volume-driven sales growth across both store and digital channels.
“Amid ongoing consumer caution, our unrelenting focus on value and choice means the Dunelm proposition has continued to resonate with customers, and we saw both full-priced and discounted lines trade well during our summer Sale period.
“Throughout the year, we grew sales and continued to exercise tight cost control in an environment of high inflation. Our strong gross margin performance means we now expect our FY24 profit before tax to be slightly ahead of expectations.
“Going into FY25, we have a significant opportunity ahead of us. We are finding quality sites for new stores and are increasingly confident in our smaller-format stores. We are also continuing to invest in both our digital offer and wider operations to support further market share gains.
“However, we will need to maintain a strong operational grip given ongoing wage inflation. Notwithstanding the continuing uncertainty in our markets, we’re both excited and confident in our plans.”
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