Value homewares specialist Dunelm has posted a rise in fourth-quarter like-for-likes, helped by its summer Sale.
- Sale drives 3.5% uplift in store like-for-likes
- Margin affected by higher than usual clearance activity
- Keith Down appointed to top finance role
Dunelm’s store like-for-likes rose 3.5% in the 13 weeks to June 27, bringing the full-year rise to 3.4%.
Home delivery like-for-like sales rose 43.4% and 55.1% respectively.
Dunelm said as well as a strong Sale, it had benefited from growth in its made-to-measure curtains and blinds service and in furniture.
Gross margin was down 70bps in the final quarter, “impacted by higher than usual clearance activity on excess furniture stock and end-of-season lines”.
Gross margin for the full year is anticipated to be down 20bps.
The strong final quarter and business investment mean that profits are expected to come in at between £119m and £123m.
Dunelm also named Keith Down as its new chief financial officer.
Down joins from Go-Ahead Group and will take over from incumbent David Stead in December.
Dunelm chief executive Will Adderley said: “”We continued to achieve good like-for-like growth in the final quarter of our financial year, across physical stores as well as our home delivery channel.
“With a newly strengthened senior team, a recently upgraded website, a sound pipeline of new stores and an ongoing programme of capital and revenue investments in place, I am confident that we will continue to deliver further growth across all our channels going forward.”