Dunelm rises after strong quarterly results

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Dunelm rises after strong quarterly results
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Shares in homewares retailer Dunelm (LON:DNLM) rose by 12.71% to 652p (as of 12:45 GMT) after it announced like-for-like revenue growth of 9% for the three months ended 29th December. This improvement was driven by a sharp rise in online sales and gross margins were 190 basis points higher than during the same quarter of 2018.

CEO Nick Wilkinson commented: “We are pleased with our overall performance in the first half, and are helping more customers than ever to create a home they love. By focusing back on our core business, under one Dunelm brand, we are improving our trading and financial performance.

“The positive like-for-like revenue growth both in stores and online, highlights the strength of our customer offer. Our multichannel proposition is improving all the time, and we are looking forward to introducing our new web platform in the summer, using more flexible technology which will allow us to better serve our customers in a changing retail landscape.

“Despite our strong performance in the year to date, we remain cautious on the outlook for the second half given the ongoing uncertainty in the UK economy. However, in the medium term, we see significant opportunity to grow the business by focusing on our customers and seizing opportunities in a digital world.

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