Dunelm cheers continued rise in homeware sales

Dunlem sells homeware products
Dunelm
Joanna Hodgson14 October 2021
City Spy

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Homewares chain Dunelm has cheered higher sales, adding to momentum seen during the height of the pandemic.

The FTSE 250 firm, led by Nick Wilkinson, recorded total sales growth of 8.3% to £388.8 million in the 13 weeks to September 25.

That was not as high as the 36.7% surge seen a year earlier when there was bumper pent-up demand following store closures during the first lockdown, but it was still 48% above the same period in 2019, pre-pandemic.

Dunelm said: “Sales growth in the first quarter of the new financial year has been encouraging.”

The shares improved 15p to 1315p.

Dunelm, which sells from 175 shops and its website, cautioned that the “macro outlook remains uncertain, in particular regarding supply chain disruption and inflationary pressures from freight and driver shortages”.

But it added: “Whilst we are not immune to the challenges being widely reported, we feel well placed relatively to manage them.”

A note from house broker Peel Hunt said: “Dunelm is moving into peak with good stock.”

The firm expects full year profits to be in line with analysts’ recently increased consensus of £179 million.

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