Dunelm sales increased 5% to £399m in the fourth quarter, ended 29 June, 2024.
Total sales for the full year increased by 4% to £1,706m, while full-year gross margin is expected to be 170bps up year-on-year. Full year profit-before-tax is expected to be slightly ahead of market expectations.
The new store opening programme is on track with six new stores opened in FY24, including one relocation.
Looking ahead, Dunelm remains confident in its ability to deliver further market share gains over the medium term. The company said it was excited by the opportunities ahead.
Nick Wilkinson, ceo, commented: “We delivered another strong performance in Q4, with continued volume-driven sales growth across both store and digital channels. Amidst ongoing consumer caution, our unrelenting focus on value and choice means the Dunelm proposition has continued to resonate with customers, and we saw both full-priced and discounted lines trade well during our summer sale period.
“Throughout the year, we grew sales and continued to exercise tight cost control in an environment of high inflation. Our strong gross margin performance means we now expect our FY24 profit before tax to be slightly ahead of expectations.
“Going into FY25, we have a significant opportunity ahead of us. We are finding quality sites for new stores, and are increasingly confident in our smaller format stores. We are also continuing to invest in both our digital offer and wider operations to support further market share gains. However, we will need to maintain strong operational grip given ongoing wage inflation. Notwithstanding the continuing uncertainty in our markets, we’re both excited and confident in our plans.”
