Dunelm PBT rises 6.6%
Looking ahead Dunelm expects to continue to see a challenging consumer environment and expects its FY25 sales growth to be driven by volume and further market share gains
Register to get 1 more free article
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Dunelm has revealed that its profit-before-tax rose 6.6% to £205m, up from £193m, for the year ended 29 June 2024.
Alongside this, the company’s total sales rose 4.1% to £1.71bn compared with £1.64bn in the same period last year.
The company also stated it saw an increase in active customers of 5.1%, with growth across all age, income and geographic cohorts.
Dunelm also delivered growth across both stores and online, with digital sales now comprising 37% of its total sales, up from 36% in the same period last year.
It also opened six new stores, including one relocation, which was in line with its plans,
The company has stated that this has given it confidence to extend its store rollout plan across different sizes and formats.
Looking ahead Dunelm expects to continue to see a challenging consumer environment and expects its FY25 sales growth to be driven by volume and further market share gains.
Nick Wilkinson, CEO, 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.
“We have made good progress with our growth plans, including the expansion of our store estate, building a faster and better digital experience for customers, and advancing our tech and data capabilities. As we evolve our strategic thinking in this changing environment, we are now even clearer on the areas which will help us to unlock our full potential as The Home of Homes.”
He added: “Whilst we are gradually seeing improvements to economic indicators, we are yet to see a meaningful change in consumer spending habits in our markets. Against this backdrop, and compared to a strong first quarter last year, we have made a solid start to FY25.
“Our plans give us a clear pathway to reaching our next milestone of 10% market share in the medium term, and we remain very confident in our ability to deliver long-term sustainable growth as a result.”
