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Dunelm reports 4.6% rise in Q3 LFL sales

Dunelm shutterstock_282750725 725 x 500

Dunelm has reported on third-quarter trading, covering the 13 weeks ended 31 March 2018.

Total revenue for the third quarter rose by 5.1% to £268.2m. Total like-for-like (LFL) revenue grew by 4.6%, continuing the growth trend seen in the first half. Organic online growth through Dunelm.com has also remained strong, at 35.7% in the quarter. The year-on-year reduction in non-LFL online sales partially reflects the disposal of the Achica business.

 

13 weeks to 31 March 2018

39 weeks to 31 March 2018

 

Revenue

(£m)

YoY Growth (£m)

YoY Growth (%)

Revenue

(£m)

YoY Growth (£m)

YoY Growth (%)

LFL Stores1

202.7

2.5

1.2%

626.0

16.8

2.8%

LFL Online2

29.4

7.7

35.7%

75.5

20.1

36.4%

Total LFL

232.2

10.2

4.6%

701.5

37.0

5.6%

Non-LFL Stores3

21.0

10.6

 

56.1

35.6

 

Non-LFL Online4

15.0

(7.8)

 

55.9

25.3

 

Total Dunelm Group

268.2

13.0

5.1%

813.6

97.9

13.7%

In the final quarter, we expect our gross margin to improve significantly year on year, largely reflecting the adverse impact of end of season sales in Q4 last year that we do not expect to repeat this year. We retain our guidance that our H2 margins will be broadly in line with our H1 margins.

Stores

Our superstore footprint remains at 169 stores. No further stores were opened in the quarter, or are currently expected to open in the remainder of this financial year.

Commenting on Dunelm's performance, Nick Wilkinson, Chief Executive, said: 

"We've seen a good sales performance over the quarter, with like-for-like sales of 1.2% in stores and 35.7% online, despite a challenging consumer backdrop. Our continuing market share gains in the Homewares category reflect the underlying strength of our brand and operating model, and enhance our position as market leader. As a result, our expectations for the full year remain unchanged.

"Having joined in February I am increasingly excited about the opportunities available to Dunelm to develop and grow a truly multichannel proposition. I would like to thank my new colleagues for the work they have done to deliver significant improvements to customer satisfaction across all of our channels, as well as driving good sales performance."

Source : Dunelm PLC
Image : Shutterstock

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12 April 2018

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