Homeware retailer Dunelm said on Wednesday that annual pre-tax profit is set to be “significantly” ahead of analysts’ expectations following a strong performance in the five weeks since reopening.
In an update on trading for the first seven weeks of the fourth quarter, the company said total sales rose 59% on a two-year basis, against the equivalent period in FY19.
Sales growth has been “very strong” since the majority of its stores re-opened on 12 April, Dunelm said, pointing to continued good digital growth from its home delivery and Click & Collect channels.
“This high sales growth reflects the strength of our customer proposition and a variety of other factors including pent-up demand following the extended store closure period, a buoyant homewares market and some benefit from the unseasonably cold Spring weather,” it said. “In the five weeks since our stores re-opened, we have performed significantly ahead of the market.”
As a result, FY21 pre-tax profit is set to be in excess of £148m, versus market expectations of between £128m and £134m.
