Strong half-year performance from Dunelm

Dunelm says it has “delivered another strong trading performance in the last half year”, growing both sales and market share.

Strong half-year performance from Dunelm

In the 26 weeks to December 29 2012 the homewares specialist saw turnover grow 13% to £340.1m, with like-for-like sales putting on 2%.

Like-for-like growth in the second quarter was 1.6% despite two fewer days of winter sale activity than in the previous year, and for both the half year and the second quarter was stronger than the homewares market benchmark as calculated by the BRC home textiles index.

Pre-tax profit for the half year is expected to be between £59m and £60m.

The retailer opened 10 superstores over the period, and saw one relocation and the re-opening of the Coventry superstore after a major fire in 2011.

Dunelm now has 123 stores and will open four more over the next half year. This will take the number of store openings for the full financial year to 14 as the business progresses towards its 200-store target.

Multi-channel business now represents around 4% of revenues.

Commenting on Dunelm’s performance chief executive Nick Wharton said: “Dunelm has delivered another strong trading performance in the last half year, continuing to gain market share on a like-for-like basis, while strengthening its customer proposition and adding 10 new superstores.

“As we annualise our exceptionally strong comparative performance in the final quarter of last financial year, we anticipate that sales growth in like-for-like stores will become much harder to achieve in the remainder of the current financial year.

“Nevertheless, with a significant new store growth opportunity and an exciting multi-channel agenda in place, the board remains confident in the longer term growth prospects for the business.”

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