Housewares retailer Dunelm Group completed the financial year with a solid trading performance in the final quarter.
Over the full financial year to June 29, total sales grew by 12.2% to £677.2m and like for like revenue by 1.7%.
Revenue growth for the fourth quarter was dampened by hot weather in the equivalent period last year, during which like-for-like revenues grew by 10.4%. Against these challenging comparatives, total revenue grew by 6.4%, with a 2.8% decline in like-for-like revenues.
The housewares retailer said the significant increase in total sales reflected its strong store opening programme over the last two financial years. This included 14 new openings in the latest financial year (of which two were relocations and one a reopening). The company now has 135 mainly out-of-town stores across the UK
Commenting on Dunelm’s performance, chief executive Nick Wharton said: “Over the last 12 months, we have significantly strengthened our customer proposition, further improved our margin management and grown our store portfolio through the addition of 14 new superstores.
“We completed the financial year with a solid trading performance in the final quarter and as a consequence, the board anticipates that profit before tax for the year will be approximately £108m.”
He added: “With plans in place to develop further our compelling customer proposition, and with a significant opportunity for future growth from both new stores and multi-channel still in front of us, the board remains confident in the overall prospects for the business.”
Dunelm describes itelf as the market leader in the £11bn UK homewares market. The group currently operates 135 stores, branded Dunelm Mill, of which 126 are out-of-town superstores and nine are located on high streets, and an on-line store, to be found at www.dunelm-mill.com.
The superstore format provides an average of 30,000sq ft of selling space with over 20,000 products across a broad spectrum of categories from home textiles (bedding, curtains, cushions, quilts and pillows) to kitchenware and dining, lighting, wall art, furniture and rugs.