Dunelm Raises Profit Guidance

Dunelm Group plc ("Dunelm" or "the Group"), the UK's leading homewares retailer, provides an update on recent trading for the first seven weeks of the fourth quarter (commencing 28 March 2021).

Total sales increased by 59% on a 2-year basis against the equivalent period in FY19 (noting that stores were closed in the comparative FY20 period).  Sales growth has been very strong since the majority of our stores re-opened on 12^th April and we continue to see good digital growth from our home delivery and Click & Collect channels.

This high sales growth reflects the strength of our customer proposition and a variety of other factors including pent up demand following the extended store closure period, a buoyant homewares market and some benefit from the unseasonably cold Spring weather.  In the five weeks since our stores re-opened, we have performed significantly ahead of the market[1].

As a result of this recent performance, the Board expects full year profit before tax (PBT) will be significantly ahead of the latest range of analysts' expectations[2]. Whilst there is still some uncertainty in the short-term outlook, we anticipate FY21 PBT will be in excess of £148m.

Insight DIY Note: In April 2021, Dunelm made reference to FY21 Profit Before Tax (PBT) of £120m-£125m.  

Recent Dunelm News:

April 2021: Digital Investment Helps Dunelm To Resilient Q3 Performance

February 2021: Strong Half-Year Performance From Dunelm

January 2021: Dunelm: Continued Strong Growth In Second Quarter Trading 

Source : Dunelm

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