8th Oct 2015 06:16
LONDON (Alliance News) - Dunelm Group PLC on Thursday reported growth in sales in the first quarter of its financial year which it said was due to improved product ranges, seasonal merchandise, and a better shopping experience for customers.
The homewares retailer said that total sales in the 13 weeks to October 3 grew 12% to GBP202.3 million from GBP180.6 million the year before, as like-for-like sales rose 5.5% to GBP183.3 million from GBP163.1 million.
Dunlem said trading was strong both in-store and online, with all categories showing a robust performance.
Gross margin also increased year-on-year with an estimated 20 basis points rise.
The retailer added that it has acquired the Fogarty brand, which makes bedding, on a worldwide basis. It currently sells Fogarty products both in store and online.
"Our sales performance was strong in the first quarter, reflecting the steps we have taken to refresh our product range, improve seasonal merchandise and to create an improved shopping experience for our customers in-store. The growth achieved in like-for-like store sales is particularly pleasing, and we maintained a solid performance in home delivery following the launch of our new website in July. As the new site becomes fully bedded down, we expect to see substantial further growth through this channel," Chief Executive Will Adderley said in a statement.
"I am delighted that we have acquired the rights to the Fogarty brand. This investment, as with the acquisition of Dorma a few years ago, adds an important brand to our portfolio. It further strengthens our specialist homewares retail proposition and provides a number of potential growth opportunities for the medium term," he added.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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