2nd Apr 2015 07:00
LONDON (Alliance News) - Dunelm Group PLC Thursday said revenue grew in the third quarter of its financial year thanks partly to a strong performance in the January sales, and it is "well placed" to drive further sales growth through its final quarter.
The home retailer said total revenue for the 13 weeks to March 28 grew 10.7% to GBP216.2 million and like-for-like sales were up 4.9% to GBP190.3 million, boosted by a strong winter sale performance and continuing success from its Made to Measure service and furniture proposition. Home delivery sales grew 40% in the quarter.
The company said it estimates that gross margin remained flat and will remain so for the full year.
Dunelm plans to open 11 new stores, four of which are expected to open before year-end, bringing the total number of store openings for the full year to 12, and its superstore portfolio to 148 stores.
It said it will continue to invest in infrastructure, recently committing to a second leasehold distribution centre in Stoke.
"We have a strong Easter event now in progress, a powerful summer sale to follow, and the launch of our new web platform before the end of the financial year, all of which leave us well placed to drive further sales growth through our final quarter. However, the full year outcome against our ambitious internal targets will ultimately depend on the traditionally volatile summer months' trading," Chief Executive Will Adderley said in a statement.
"Looking into the next financial year and beyond, we remain very excited about the prospects for the business and about the clear growth ambitions that we set out in February," he added.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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