Dunelm Group plc, the UK’s leading homewares retailer, has announced its interim results for the 26 weeks to 30 December 2023.
Key highlights include:
- Strong sales growth in the first half, with total sales increasing by 4.5%, leading to market share gains.
- Growth in active customers of 4.2%, alongside increased transaction frequency
- Gross margin up 160bps and profit before tax increased by 4.8%, driving strong shareholder returns including a special dividend
- Continued digital growth with 36% of total sales generated through digital channels
- Strengthened customer offer drove broad-based growth across our categories and channels
- Extended our total retail system with four new stores opened in H1, taking the total to 183
- Evolved our marketing ecosystem, including the launch of our ‘Home of Homes’ brand platform
- Over 125,000 Christmas gifts donated to local good causes through the ‘Delivering Joy’ campaign – double last year
- Continuing to invest for the long term in new store openings, brand marketing and digitalising the business
Nick Wilkinson, Dunelm CEO, said: “In the past six months we have kept our customers front of mind, ensuring our broad offer has value at its core whilst also expanding our ranges, introducing new styles, and improving the experience across our store and digital channels.
“This has been particularly important in a more difficult trading environment and has resulted in another strong sales performance combined with market share gains. Despite ongoing pressures on consumers, we are encouraged by the wide variety of new customers shopping with Dunelm, and existing shoppers also coming back more frequently. Alongside the positive sales performance we have delivered a very strong gross margin, which is testament to our tight operational control and the inherent strength of our business model.
“As we move towards Spring and customers look to freshen up their homes, our specialist proposition continues to resonate strongly and, in a dynamic retail environment, we are relentlessly focused on evolving and investing in our business to ensure we remain relevant to further increase our broad appeal. We have never been more excited about our future as we build trust in our offer and identity as the Home of Homes.”
