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Dunelm sees profit 'significantly' ahead of expectations amid strong reopening

Wed, 19th May 2021

Homewares retailer Dunelm said it expected annual profit to be 'significantly' ahead of market forecasts following a strong performance since its stores reopened as Covid-19 restrictions eased. Pre-tax profit for 2021 was expected to be in excess of £148 million, ahead of the market expectations within a range of £128 million to £134 million. For the first seven weeks of the fourth quarter (commencing 28 March 2021), sales increased 59% on a two-year basis against the equivalent period in FY19, the company said. This sales growth was driven by variety of factors including pent up demand following the extended store closure period, a buoyant homewares market and some benefit from the unseasonably cold Spring weather, the company said. 'In the five weeks since our stores re-opened, we have performed significantly ahead of the market,' it added. Story provided by StockMarketWire.com

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