Despite rising costs impacting on profits, homewares retailer Dunelm reported record revenues of £1.6bn, up 5.5% year-on-year. Reflecting the cost of living crisis, the retailer kept its prices low, passing on savings from lower freight costs, cutting the price of hundreds of products earlier this year.
“In a period of extensive economic uncertainty, we have maintained our focus on enhancing our customer proposition, expanding our offer while staying fully committed to value and making every £pound count,” stated Dunelm’s ceo Nick Wilkinson. “This has clearly resonated well with our customers, enabling us to continue growing both sales and market share.”
He added: “As we manage the ongoing challenges, it is crucial that we do not lose sight of our longer-term ambitions. We are committed to raising the bar on value and joy for our customers and continuing to invest where we see good returns so that we can seize the various opportunities ahead. We are excited about our future growth opportunity and more confident than ever that our commitment to valueand tireless focus on improving the experience for our home-loving customers will leave us well placed to deliver sustainable growth in the future.”
It is anticipated that Dunelm will acquire some former Wilko retail sites, reported The Times, with Nick Wilkinson telling the newspaper that the company would be looking at some five to ten stores.
Top: Dunelm has reported a record year for sales.