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Dunelm Reports 12.5% Rise in Q3 LFL Revenue

Dunelm shutterstock_282750725 725 x 500.jpg

Dunelm Group plc, the UK's leading homewares retailer, reports the following trading update for the 13-week period ended 30 March 2019.

Revenue
Total like-for-like (LFL) revenue for the third quarter increased by 12.5%, a strong result that continues the growth trend from the first half of the year.

-     LFL store revenue increased by +9.8% year-on-year
-     LFL online revenue on Dunelm.com continued to grow strongly in the quarter by +32.1%
-     Total multi-channel revenue for the quarter, defined as LFL online revenue plus Reserve & Collect and tablet-based selling in-store, represented 18.5% of revenue, an increase of +4.1ppts year on year. 

Total Group revenue was £284.5m, up +6.1%, reflecting the closure of the Worldstores and Kiddicare websites earlier in the financial year. 

Digital technology, including tablet-based selling in stores, has improved our experience for customers and we continue to invest in building our digital capabilities. We remain on track with the phased implementation of our new digital operating system.  We are excited about the opportunities that will come with the full launch of the newsystems, but will proceed carefully, mindful that we must minimise disruption to the strong growth trend we are seeing on our existing online platform.

Business Update 

As we enter the Spring/Summer season we continue to focus on delivering excellent retail operations in our core business.  Additionally, as part of our drive to reach more customers with our brand, we have launched the fourth Home of Homes campaign, across multiple media channels including TV, and we are now sponsoring ITV's flagship 'This Morning' programme (our 12-month partnership commenced on 1 March 2019).

There have been no changes to our store footprint during the quarter (169 superstores).  We expect to open two new stores (including one relocation) towards the end of the financial year.

Comment from Nick Wilkinson, Dunelm's Chief Executive: 
"We are delighted that customers continue to respond well to our improving homewares offer as we help them create a home they love.  The strong growth in the third quarter reflects our ongoing focus on attracting more customers to the brand and giving them more reasons to shop with us through great product and service.  Our performance was also buoyed by a positive homewares market.

"Our multichannel proposition is improving all the time and we are excited about the opportunities ahead of us as we continue to invest in and develop our digital capabilities."

Source : Dunelm

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10 April 2019

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