17 June 2024, 06:04
By Furniture News Oct 20, 2022

Dunelm holds the line against strong Q1 comparatives

Dunelm has issued a trading update for the 13-week period ended 1st October 2022.

The retail saw robust trading performance in line with expectations, with Q1 sales down just -8% YoY, against very strong comparatives, and +36% higher than the same period in FY20 (pre-pandemic).

Digital sales represented 33% of the retailer's total sales in Q1, in line with the same period last year.

Dunelm says its FY23 guidance remains unchanged despite the challenging macroeconomic environment, and that it has seen a good response from customers to seasonal offers such as Winter Warm and its Christmas ranges, with increased sales of 15-tog duvets and indoor airers.

CEO Nick Wilkinson says: “It has been another robust quarter for Dunelm against a very strong comparative period, which illustrates the strength and resilience of our business model and the appeal of our market-leading offer.

“Dunelm has emerged from the last two years as a bigger, better business, with total sales up +36% against the same period pre-Covid. We have benefitted from the commitment, expertise and adaptability of our colleagues and supplier partners - the same qualities that are serving the business as we navigate the current inflationary challenges.

“As we enter what will clearly be a challenging winter for consumers, our absolute focus remains on making every pound count for everyone, through a tight grip on operations. We will continue to offer outstanding value at all price points, so our customers can make their own choices around adapting to the economic backdrop. This focus on value has seen Dunelm successfully navigate previous periods of economic uncertainty.

“The landscape is a demanding one, but we feel both energised and confident in our ability to grow market share as the first choice for UK homelovers.”

© 2013 - 2024 Gearing Media Group Ltd. All Rights Reserved.