Dunelm shares up on the back of strong sales growth

FTSE 250 homewares retailer Dunelm (LON:DNLM) has seen its share price rise by 2.20% to 884p (as of 14:00 BST) as it announced a 12.5% increase in like-for-like revenues for the three months ended 30th March. This growth was largely driven by a strong improvement in online performance and gross margins also improved by 90 basis points as the company closed less profitable operations.

CEO Nick Wilkinson commented: “We are delighted that customers continue to respond well to our improving homewares offer as we help them create a home they love. The strong growth in the third quarter reflects our ongoing focus on attracting more customers to the brand and giving them more reasons to shop with us through great product and service. Our performance was also buoyed by a positive homewares market.

“Our multichannel proposition is improving all the time and we are excited about the opportunities ahead of us as we continue to invest in and develop our digital capabilities“.