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08 Apr 2021 | 07:01

Dunelm sees FY profit 'modestly ahead' of forecasts

(Sharecast News) - Homewares group Dunelm said it expected to finish the year "modestly ahead" of expectations as it reported a 16.8% fall in third quarter sales, reflecting the impact of the latest national Covid lockdown.

The company on Thursday said total sales fell to £236.6m in the three months to March 27 as the pandemic shuttered all its stores, although declines were offset by a rise in online shopping, which now represented 92.4% of the total figure, up 70 points on 2020.

Dunelm said it the current range of pre-tax profit estimates was £120m - £125m.

"In a quarter when we were largely unable to open our stores, it has been very encouraging to see the strength of our digital channels which have enabled us to cover over 83% of sales from the same period last year," said chief executive Nick Wilkinson.

"This resilient performance is testament to the commitment and dedication of our teams, who continue to adapt and innovate the Dunelm customer proposition."

"We are now looking forward to re-opening, with colleagues ready to welcome back customers through our doors. We have worked hard to rebuild inventory levels and our stores are well stocked across our extensive product range."
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