Dunelm’s final quarter of FY24 saw total sales grow by 5% to £399mn, with full year sales rising by 4% to £1.706bn, as it continues to focus on value and product range.
The homewares retailer reported in trading results, for the 13-week period and full year ending 29 June 2024, that both instore and online channels performed well.
Nick Wilkinson, Dunelm’s chief executive officer, commented: “We delivered another strong performance in Q4, with continued volume-driven sales growth across both store and digital channels. Amidst ongoing consumer caution, our unrelenting focus on value and choice means the Dunelm proposition has continued to resonate with customers, and we saw both full-priced and discounted lines trade well during our summer sale period.
“Throughout the year, we grew sales and continued to exercise tight cost control in an environment of high inflation. Our strong gross margin performance means we now expect our FY24 profit before tax to be slightly ahead of expectations.
“Going into FY25, we have a significant opportunity ahead of us. We are finding quality sites for new stores, and are increasingly confident in our smaller format stores. We are also continuing to invest in both our digital offer and wider operations to support further market share gains. However, we will need to maintain strong operational grip given ongoing wage inflation. Notwithstanding the continuing uncertainty in our markets, we’re both excited and confident in our plans.”
Dunelm was recently ranked Leading in the RetailX UK Top500 2024 report. A company profile in the report looks at how the homeware giant prioritises customer experience. The profile looks at how value for money and the customer experience are strategic priorities for Dunelm.
Dunelm is just one of eight profiles in the RetailX UK Top500 2024 report, with Amazon, Ikea, Next, Asda, Boden, Richer Sounds & Very also discussed. The tenth edition of the UK Top500 also looks at the balance of retailing over the last decade.
Download the full report for a ranking of the leading 500 retailers, brands and marketplaces that sell in the UK today.
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