Dunelm Group has announced its preliminary results for the 52 weeks to 1 July, 2023.
Total sales for the period were £1,638.8 million, up 5.5% year-on-year, with 36% of sales occurring online, an increase of 1% y-o-y.
Profit before tax for the year was down 7.8% at £192.7 million. Gross margin was 50.1%, which was in line with expectations.
Dunelm’s active customers grew by 2.8%, with improved customer retention during the year, and the retailer opened three new stores, including one relocation.
Looking ahead, Dunelm said it has been pleased with trading early in the new financial year, and although consumer behaviour remains unpredictable, its value proposition is resonating well and the company expects to see FY24 sales and PBT growth, driven by volume.
Easing freight costs are supporting gross margin, while tight operational grip is helping to mitigate ongoing inflation in operating costs. Dunelm said it has ‘never been more confident’ in its plans to seize opportunities in the short, medium and long term.
Nick Wilkinson, ceo, commented: “In a period of extensive economic uncertainty, we have maintained our focus on enhancing our customer proposition, expanding our offer whilst staying fully committed to value and making every pound count. This has clearly resonated well with our customers, enabling us to continue growing both sales and market share. As ever, our amazing colleagues have been at the heart of this performance and I thank them all for their knowledge, personality, commitment and enthusiasm.
“As we manage the ongoing challenges, it is crucial that we do not lose sight of our longer-term ambitions. We are committed to raising the bar on value and joy for our customers and continuing to invest where we see good returns, so that we can seize the various opportunities ahead.
“We are excited about our future growth opportunity and more confident than ever that our commitment to value and tireless focus on improving the experience for our home-loving customers will leave us well placed to deliver sustainable growth in the future.”
