High Street

Dunelm sees Q3 revenues rise 12.5%

Homewares retailer Dunelm has reported a 12.5% rise in like-for-like revenue during Q3 attributed to strong growth in online sales.

For the 13 week period ending 30 March 2019 Dunelm’s store revenue over its 169 stores increased by 9.8% year-on-year, however growth was primarily driven by online revenue on having increased in the quarter by 32.1%.

The company also revealed that total multi-channel revenue for the quarter, defined as LFL online revenue plus reserve and collect and tablet-based selling in-store, represented 18.5% of revenue, an increase of 4.1ppts year on year.

Dunelm said against the “backdrop of a dynamic retail climate”, it has chosen to increase its investment in the business, specifically in the areas of technology and marketing as it aims to “drive future profitable growth”.  

It also added despite political and economic uncertainty if there are no significant changes to current trends in consumer demand, Dunelm expects to report full year profit before tax “slightly ahead” of the top of the range of current analysts’ forecasts.

Nick Wilkinson, Dunelm’s chief executive, said: “We are delighted that customers continue to respond well to our improving homewares offer as we help them create a home they love.  The strong growth in the third quarter reflects our ongoing focus on attracting more customers to the brand and giving them more reasons to shop with us through great product and service. Our performance was also buoyed by a positive homewares market.

“Our multichannel proposition is improving all the time and we are excited about the opportunities ahead of us as we continue to invest in and develop our digital capabilities.”

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