Dunelm sees shares drop after September warning
Shares in interiors chain Dunelm slid this morning after shareholders were spooked by ‘a softer homewares market’ in September, despite a strong quarterly performance.
Shares fell by 6.4%, at the time of writing, after warning September’s trading was ‘mixed’.
Like for like sales rose by 6.4% in the quarter to 28 September. Total sales rose by 7.5% to £262.6m.
‘We are pleased with our performance in the first quarter, building on the strong growth delivered over the last year. Our customers continue to respond well to our specialist product and service offering and we are excited by the numerous opportunities ahead of us,’ says Nick Wilkinson, Dunelm ceo.
‘The launch of our new digital platform will be an important milestone in this phase of Dunelm's development. Once fully live, we can really begin to enhance and extend our offering and customer experience. Despite the recent softness in the homewares market and the increased political uncertainty, we are confident we can continue to win market share and our expectations for the full year remain unchanged.’