Dunelm singing in the rain
The wet weather has made Dunelm Mill £2.5m of extra profit.
The interiors retailer says that the recent poor weather has earned it an extra £2.5m, as consumers turned to shopping.
The 115 store chain saw like for like sales leap by 10.4% in the quarter to 30 June as sales reached £149.7m, an increase of 21.2%. The chain says that about £8m of the increase was because of the weather.
Sales for the year were 12.1% higher at £603.7m, with like for like sales up 3.1%. Dunelm now expects full-year profits to be higher than forecast at £96m.
'The final quarter has seen further strong progress throughout the business, with robust like-for-like sales trends. In addition, we have continued to drive growth through new stores and our multi-channel offering, which now represents around 3% of revenue. Our continued focus on developing our Simply Value for Money proposition has seen further market share gains,' says Nick Wharton, Dunelm chief executive.
'Looking ahead, we anticipate that consumer spending will remain under pressure. Nevertheless, with 10 further store openings committed, a strengthening multi-channel offering and with our unique proposition resonating with a wide range of customers, we remain confident in the future growth prospects for the business.'