Dunelm re­ports pos­i­tive out­look for the fi­nan­cial year

Belfast Telegraph - Business Telegraph - - News - BY ALYS KEY

SHARES in Dunelm, which has eight stores in North­ern Ire­land, jumped more than 12% yes­ter­day as it in­di­cated a pos­i­tive out­look for the fi­nan­cial year de­spite on­go­ing un­cer­tainty around Brexit.

Sales im­proved in the sec­ond quar­ter as the home­ware com­pany re­fo­cused on its core busi­ness.

Like-for-like sales at the re­tailer were 9% higher in the 13 weeks to De­cem­ber 29.

The com­pany said to­tal growth at group level was 2%, re­flect­ing the clo­sure of the un­der-per­form­ing World­stores and Kid­di­care web­sites.

Com­pa­ra­ble sales in store were up 5.7% com­pared with the same pe­riod last year.

Dunelm said ini­tial re­sults from its new mar­ket­ing cam­paign have been en­cour­ag­ing, while a new web­site is set to be launched this year.

Cur­rent ex­pec­ta­tions for ful­lyear profits are slightly ahead of mar­ket ex­pec­ta­tions. How­ever the group re­mains cau­tious due to what it called the “un­prece­dented level of un­cer­tainty cur­rently fac­ing con­sumers and busi­nesses in the UK”.

Chief ex­ec­u­tive Nick Wilkin­son said the im­proved per­for­mance was down to a fresh fo­cus on the core busi­ness.

“The pos­i­tive like-for-like rev­enue growth, both in stores and on­line, high­lights the strength of our cus­tomer of­fer,” Mr Wilkin­son ex­plained.

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