11th Oct 2018 08:57
LONDON (Alliance News) - Dunelm Group PLC shares soared on Thursday as the homeware retailer reported a good first quarter performance with like-for-like revenue growing 4.2%.
Dunelm shares were trading up 3.5% at 561.50 pence each, the second best performer in the FTSE 250 index of London mid-caps.
For the first quarter to September 29, Dunelm's like-for-like revenue increased to GBP228.1 million, up from GBP219.0 million a year prior.
Online sales jumped by 33% on a like-for-like basis to GBP26.5 million, including tablet-based in-store selling. Store sales were up 1.3% to GBP201.6 million.
The company reformed its website by consolidating all product lines on one platform, closing the Worldstores and Kiddicare websites.
Dunelm said it is "on track" to launch a new Dunelm.com web platform in the third quarter allowing a Click & Collect option and improved delivery options.
Chief Executive Officer Nick Wilkinson said: "We delivered a good trading performance in the first quarter. Our positive like-for-like growth highlights the strength of our customer offer which we are continually working hard to improve as we focus on our core business again under one brand, with one platform and one supply chain."
Looking ahead, the company said it is "cautious" due to the level of "market and customer uncertainty".
However, Wilkinson said that he sees "plenty of opportunity over the medium term".
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