Dunelm has released its preliminary results for the year to 29 June 2024. Its total sales grew by 4.1 per cent to reach £1.71bn, taking 7.7 per cent of the combined homewares and furniture markets, and with 5.1 per cent growth in active customers. Gross margin was 51.8 per cent, up from 50.1 per cent in FY23, with net freight costs and operational efficiencies contributing to performance. Pre-tax profit was up by 6.6 per cent at £205m.
The business had opened five completely new stores and relocated one other and had achieved digital growth with its online channels now representing 37 per cent of total sales.
CEO Nick Wilkinson said: “This strong set of results is testament to the hard work of our adaptable and committed colleagues. In a period when consumers faced inflationary pressures and competing demands for their disposable income, we have continued to raise the bar on the relevance and value we offer at Dunelm. The continued delivery of volume-driven sales growth and further share gains in this softer market underlines this, and the strength and resilience of our business model.
“Our plans give us a clear pathway to reaching our next milestone of double-digit market share in the medium term, and we remain very confident in our ability to deliver long-term sustainable growth as a result.”
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