Pent-up fur­nish­ing de­mand plumps up Dunelm’s rev­enues

The Daily Telegraph - Business - - Business - By Rhi­an­non Curry

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.

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