Shares in FTSE 250 homewares retailer Dunelm (LON:DNLM) has seen its share price increase by 5.71% to 1,333p (as of 12:20 GMT) after reporting a 23% improvement in total sales for the half year ended 26th December. Pre-tax profits were up by 34% for the period and strong growth in online sales helped to outweigh the impact of store closures during the second half of the six months.
CEO Nick Wilkinson commented: “In light of another strong performance, I would like to express my sincere thanks to the whole Dunelm team, and our committed suppliers, who have continued to work tirelessly throughout these extraordinary times to ensure the highest safety standards for ourselves and our customers, and also for their dedication and commitment to continuing to improve our customer proposition.
Sales were particularly strong in the first quarter, before we had to navigate the various restrictions which impacted the remainder of the period. These restrictions have become more severe in the second half of our financial year, with all but one of our stores currently closed, although we continue to serve customers through our digital channels, which have significantly advanced during the last year.
Beyond the near-term uncertainty, we have never been more confident about the future. Dunelm is a market leader with a challenger brand mentality, in a large and growing segment. We have a clear runway to grow active customers and their frequency across our total retail system and to realise our long-term ambitions“.