Bloomberg News

Dunelm Group First-Quarter Sales Up on New, Refurbished Stores

October 05, 2011

Oct. 5 (Bloomberg) -- Dunelm Group, a U.K. retailer of budget home-furnishings, posted higher first-quarter sales as it opened a superstore in Dartford and refitted two outlets to increase selling space.

The Leicester, England-based company said sales grew 5.3 percent from a year earlier, to 133.4 million pounds ($ 206 million) in the thirteen weeks ended Oct. 1, according to a Regulatory News Service statement today. Revenue increased 11.6 percent in the corresponding quarter a year ago.

Sales from stores open at least a year declined 2 percent in a “difficult consumer environment,” while contribution from new space increased 7.3 percent, the company said.

“We remain confident about the growth opportunities provided both from store expansion and via the web,” Chief Executive Officer Nick Wharton said in the statement, The retailer expects to open 15 stores this year, of which 10 are scheduled for the second quarter, according to the statement.

Gross margin rose by about 50 basis points compared with a year earlier. Net cleared funds were at 34.3 million pounds, the company said.

--Editors: Chris Peterson, Peter Branton

To contact the reporter on this story: Namitha Jagadeesh in London at njagadeesh@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net


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