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Dunelm reports "solid progress" in Q3

Published: 4 April 2014
In its third quarter of the current financial year, Dunelm reports that sales grew by 9.9% to £195.4m, with like-for-like sales up 5%.
Dunelm reports 'solid progress' in Q3
The interim statement attributes this rise in sales to the opening of four new stores during the 13 weeks up to March 29 2014

Within the last nine months Dunelm has opened 10 new stores bringing the company's portfolio up to 141. The company has plans to extend their portfolio to 220.

The homewares retailer reports that the milder weather and distinct lack of snow got shoppers out and spending money, contributing to the rise in like-for-like sales.

Ongoing investments such as multi-channel development, TV advertising and the roll out of the Dunelm at Home scheme, where customers can have an advisor come to their home and measure curtains and blinds, were all contributing factors to the solid Q3.

Dunelm's chief executive, Nick Wharton, said: "Dunelm has again delivered a period of strong progress. This reflects, in part our willingness to invest to underpin the longer-term growth of the business - including increased advertising to build brand awareness, further enhancing our home delivery proposition, and expanding our in-home consultation service.

"These investments will continue, increasing our operating cost ratio whilst benefiting sales and further strengthening our market leading proposition."

Mr Wharton added the board is confident in the growth prospects that Dunelm has.

The first three-quarters of the current financial year have been strong for Dunelm, with total sales up 14.1% to £517.9 million.

Dunelm states that its next key development is to launch an improved website by the summer. This will see the website move to a new software platform.

The company's next trading update will be on July 8, followed by the release of its end-of-year results on September 11.

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