Dunelm has announced a Q4 and full year trading update, reporting continuing robust growth in Q4 with sales of £381m and expecting profit to be slightly ahead of current market expectations.
Sales for Q4 came in at £381m helping to take its FY revenue to £1.64bn which shows a 6 per cent growth over last year’s results. Of particular note in Q4 was digital demand with online sales responsible for 39 per cent of the total period’s revenue.
Nick Wilkinson, Chief Executive Officer, commented: “The breadth and relevance of our product offer has continued to resonate with our home-loving customers over the last quarter of the year. This has been reflected in our strong financial performance despite the challenging broader consumer backdrop.
“Against this backdrop, our commitment to value is stronger than ever. During the quarter we lowered prices on over 1,000 lines, and our customers were also able to take advantage of great offers in our Summer Sale.
“We have a strong business model, with committed colleagues and suppliers, who strive every day to improve our customer proposition. We continue to focus on further strengthening our product mastery, developing our stores, enhancing our digital channels, and building out our marketing ecosystem, in order to create an even better experience for our customers. With these improvements to our customer proposition and business capabilities, we see a compelling opportunity for sustainable and profitable growth and are confident about the future.”
The business says that it expects profit before tax for the full year to be slightly ahead of current analysts’ consensus of £188m and that it sees very significant headroom to deliver further profitable growth, seizing the opportunity to raise the bar further on our customer offer, especially in terms of value.
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