Dunelm has posted a fall in its half year profits, to 31st December 2022, despite having increased its sales by 5 per cent. Profits for the second half were £117.4 million which is down from the £140.8 million achieved for the same period last year.
Margins had fallen slightly and the timing of its winter sale as well as comparison with the heightened demand last year combined with increased investment in its digital capabilities had impacted the results.
The business commented: “Whilst customers have been resilient to date, the consumer outlook remains unpredictable.”
Nick Wilkinson CEO added that the business was learning to operate in a complex and rapidly evolving reality, saying: “Recognising this, our focus has been on ensuring that we continue to offer outstanding value to our savvy customers through a proposition which is committed to quality, at the right price, across an expanding range of relevant products.
“We believe that this is why we have continued to grow our sales, customer numbers and market share.”