Dunelm has announced interim results for the 26 weeks to 30 December 2023 this morning. In the first half, total sales increased 4.5 per cent to £872m (FY23 H1: £835m) as Dunelm continued to take market share and grow its active customers.
Nick Wilkinson, Chief Executive Officer, commented: “In the past six months, we have kept our customers front of mind, ensuring our broad offer has value at its core whilst also expanding our ranges, introducing new styles, and improving the experience across our store and digital channels.
“This has been particularly important in a more difficult trading environment and has resulted in another strong sales performance combined with market share gains. Despite ongoing pressures on consumers, we are encouraged by the wide variety of new customers shopping with Dunelm, and existing shoppers also coming back more frequently. Alongside the positive sales performance we have delivered a very strong gross margin, which is testament to our tight operational control and the inherent strength of our business model.
“As we move towards Spring and customers look to freshen up their homes, our specialist proposition continues to resonate strongly and, in a dynamic retail environment, we are relentlessly focused on evolving and investing in our business to ensure we remain relevant to further increase our broad appeal. We have never been more excited about our future as we build trust in our offer and identity as the Home of Homes.”
The business says that its current trading in the second half has been pleasing to date and that customers have been resilient. It also noted that the consumer outlook remains uncertain and that it is continuing to invest to increase Dunelm’s broad appeal while maintaining tight operational grip. Its PBT expectations for the full year are unchanged and in line with the market expectation.
A new collaboration with sustainability-focused restaurant chain Rockfish has started well with good customer response, standout products include mugs, tablemats and side plate. It has also launched a new exclusive collection with the Natural History Museum, focused on its Treasures Gallery which combines maximalism with a hit of English nostalgia, botanical prints and animals.
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