logo
Plus   Neg
Share
Email

Dunelm Q2, H1 Revenue Rises; Sees Profit Growth In H1; Maintains FY View

Dunelm Group plc (DNLM.L), a homewares retailer, reported Thursday that its second-quarter revenue was 322.4 million pounds, up 6.2 percent from last year.

Total like-for-like or LFL sales increased 5 percent, reflecting strong growth across the total retail system.

For the first half, total sales were 585 million pounds, up 6 percent on a reported basis and up 5.6 percent on LFL basis.

In its trading update, the company said second-quarter gross margin improved by approximately 110bps, mainly due to sourcing gains and lower product markdowns.

Further, the company said it expects profit before tax for the first half to be approximately 83 million pounds, after adjusting for the impact of the new accounting standard IFRS 16 'Leases'. In the prior year, profit before tax was 70 million pounds, which was calculated on an IAS 17 basis.

Looking ahead, the company maintained expectations for the full year.

Dunelm will make its interim results announcement on February 12.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Global PC shipments returned to growth in the second quarter of 2020 after seeing a significant decline in the preceding first quarter due to COVID-19 related supply-chain disruptions, according to reports by two research firms. The PC market returned to growth in the quarter as production ramped up and vendors restocked their supplies to near-normal levels. The bankruptcy filing of America's oldest apparel retailer Brooks Brothers has ignited significant interest from potential buyers for the brand. WHP Global and a venture backed by Authentic Brands Group LLC and Simon Property Group, Inc., are reportedly considering bids for the retailer. WHP Global owns the ANNE KLEIN and JOSEPH ABBOUD brands. Sundial Herbal Products has recalled around 65 products, which were misbranded and currently unapproved drugs, the U.S. Food and Drug Administration said in a statement. The recall follows an order by a federal judge in June to stop distributing the company's unapproved new drugs. The affected items include herbal products and dietary supplements.
RELATED NEWS
Follow RTT