Dunelm sees FY profit 'slightly ahead' of market expectations

20th Jul 2023 07:49

(Sharecast News) - Homeware retailer Dunelm said on Thursday that full-year profit was set to be "slightly ahead" of market expectations after continued robust sales in the fourth quarter.

The retailer said it continued to see good sales momentum in Q4, with sales growth of 6% to £381m. It also pointed to a strong summer sale.

Dunelm said cooler weather drove sales of its bedding and rugs ranges, while its Summer Living collections - in particular garden furniture and decorations - performed well in the warmer weather towards the end of the period.

For the full year, total sales were up 6% to £1.64bn.

The company now expects FY23 pre-tax profit to be slightly ahead of current consensus of £188m. "This performance reflects our continued robust sales performance, strong commercial disciplines and tight operational grip on costs," it said.

Dunelm added: "We are pleased with trading so far in the new financial year. Whilst the consumer outlook remains uncertain, we will keep focussing on delivering outstanding value and relevance to our customers.

"We will continue to invest thoughtfully for the future and are excited by the opportunities ahead to achieve further market share gains."