Dunelm has posted a strong uplift in full year sales and pre-tax profit after emerging from the Covid crisis as a “bigger and stronger business”.
The homeware retailer’s total sales grew by 16.2% to £1.55 billion in the year to 2 July while pre-tax profit climbed by 32.4% to £209 million.
The retailer benefited from its stores being open for the entire year following previous Covid-19 related disruption. It also made gains from its continued investment in digitising the business and improving operational capability. This included the opening a dedicated ecommerce distribution fulfilment facility and a new furniture warehouse in the period to help improve customer service.
Giving an update on more current trading, Dunelm said sales have remained robust in the first ten weeks of its new financial year. It expects to deliver around a 50% gross margin for the full year and will manage costs through efficiency improvements and operational grip. In addition, it is expecting to achieve full year results in line with analysts’ expectations.
