Dunelm profits to beat expectations
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Dunelm expects its full-year profits to beat original forecasts, the company said in its latest trading update.
The furniture and homeware retailer said that gross margins were “stronger than expected” in the financial year to date, and believes that this is a result of “sourcing gains and better sell through”.
The company also said its operational costs were well controlled and “in line” with expectations.
It said: “In light of the above, the Board now anticipates that the full year profit before tax will be higher than our previous expectations, assuming no significant change in consumer demand as a result of the outcome of the general election.”
This news follows Dunelm’s launch of a new online website, which has also had a positive impact for the retailer.
It said that customers “responded well” to the new site, and that there was no “adverse impact” during the transitional period to online trading.
The retailer said it is now “maintaining our strong sales growth both online and in stores”.
A more detailed trading update will be announced on 9 January.
Dunelm currently employs 10,000 workers and sells some 30,000 product lines in store, increasing to 55,000 online.
