Dunelm’s latest preliminary results for the 52 weeks ended 29 June 2024 revealed a strong performance and a clear pathway to further market share gains. Sales of £1.71bn (FY23: £1.64bn), were up by 4.1% on FY23 despite a softer market. Following six new stores openings during the year, there was a 60 basis-point market share gain in combined homewares and furniture markets, representing 7.7%.
“This strong set of results is testament to the hard work of our adaptable and committed colleagues,” states Dunelm’s ceo Nick Wilkinson. “In a period when consumers faced inflationary pressures and competing demands for their disposable income we have continued to raise the bar on the relevance and value we offer at Dunelm. The continued delivery of volume-driven sales growth and further share gains in this softer market underlines this, and the strength and resilience of our business model.”
Added Nick: “We have made good progress with our growth plans, including the expansion of our store estate, building a faster and better digital experience for customers, and advancing our tech and data capabilities. As we evolve our strategic thinking in this changing environment, we are now even clearer on the areas which will help us to unlock our full potential.”
He continued that while the retailer is gradually seeing improvements to economic indicators, “we are yet to see a meaningful change in consumer spending habits in our markets. Against this backdrop, and compared to a strong first quarter last year, we have made a solid start to FY25. Our plans give us a clear pathway to reaching our next milestone of 10% market share in the medium term, and we remain very confident in our ability to deliver long-term sustainable growth as a result.”
Dunelm currently has 184 UK stores in its retail portfolio.
Top: Dunelm preliminary results unveiled a strong performance and a goal of attaining a 10% market share in the coming year.
