Pent-up furnishing demand plumps up Dunelm’s revenues
PENT-UP demand from shoppers eager to make home improvements pushed sales at homeware retailer Dunelm up 59pc in July compared with the previous year.
The retailer said consumers had rushed back to its stores when they reopened in June, after they closed when the lockdown began in mid-March.
Sales in August were less impressive, but were still 24pc higher than in the same month in 2019. Dunelm also attributed some of the rise to the timing of its summer sale.
“This performance reflects the strength of our proposition within a resilient homewares market, positive footfall growth to our out-of-town superstores and continued strong growth in our home delivery offer,” it said.
The retailer added that while the year-to-date performance had been “materially ahead” of its initial expectations, it would be cautious about making any solid predictions for the rest of the year. It is due to make a preliminary results announcement next week.
Shares in the company jumped as much as 8pc in early trading yesterday, to £15.48, before dropping back slightly during the morning.
Analysts pointed out that the company’s performance has traditionally tracked the housing market, which also remains uncertain.