Analysis: How paranoia has fuelled Dunelm’s success

Dunelm 2

As Dunelm posts a strong set of full-year results, Retail Week asks chief executive Nick Wilkinson a year into his role how the homeware retailer plans to keep impressing the City.

Dunelm’s share price has risen around 50% since last September, has a market cap of around £1.6bn and is quickly becoming “something of a stock market darling”, according to GlobalData senior retail analyst Hannah Thompson.

With the retailer’s preliminary results, it is easy to see why.

The homeware retailer’s total like-for-like sales increased 10.7% to £1.1bn during the 52 weeks to June 29. Profit before tax increased 23.4% to £125.9m during the period, placing it firmly in the lead of the £13.5bn UK homewares market.

But even with a stellar set of results and as it celebrates its 40th anniversary of trading, chief executive Nick Wilkinson admits the retailer still has catching up to do on online and feels “paranoid about not being relevant” in a “world that’s changing so fast”.

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