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High Street

Dunelm profits jump 23.4% in full-year results

Homewares retailer Dunelm has reported a 23.4% increase in profit before tax to £125.9m for the year ending 29 June 2019.

The group said the increase reflects higher sales, improved gross margins and a “better operational grip”. Total like-for-like sales also increased by 10.7% during the period, with “strong” growth both in stores (7.7%) and online (35.1%).

CEO Nick Wilkinson said: “As Dunelm celebrates its 40th anniversary, we are pleased to have delivered a strong performance during the year, with an improvement across all our customer, operating and financial metrics.

“In particular, the strong like-for-like revenue growth, both in stores and online, demonstrates the progress we are making with our multichannel proposition whilst maintaining the breadth and depth of our specialist customer offer in homewares.”

He added: “These results reflect our focus on the core Dunelm business and we see further opportunities to develop our Customer 1st plans, through extending product choice and value, improving our customer experience enabled by technology, and bringing more people to the brand.”

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