Dunelm revealed slumping profits today as a challenging market, disrupted supply chain and an acquisition-laden half took its toll.
Pre-tax profit dropped 26% in the 26 weeks to December 31, 2016 while like-for-likes fell 3.1%. However total sales rose 2.8%.
The homewares retailer’s share price also took a hit, sliding around 8%.
These figures don’t look too rosy at first glance but Dunelm boss John Browett told Retail Week today that the business was planning for the future with its World Stores acquisition and logistics investment.
In other news, L’Oreal is reportedly looking to sell The Body Shop, Lidl’s group boss has quit due to “strategic disagreements” and Yoox Net-a-Porter sales have risen once more.
Quote of the today
“If you subtract all the costs that won’t be repeated in the future, we’re actually pretty flat year-on-year.”
– Dunelm boss John Browett on its half-year result
Today in numbers
The reported figure that L’Oreal is looking to sell The Body Shop
The rise in net sales at Yoox Net-a-Porter
DFS will give a half-year trading update.
Becky Waller-Davies, reporter