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Dunelm warns on spending squeeze as sales fall

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Dunelm warns on spending squeeze as sales fall

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(Reuters) – British home furnishings retailer Dunelm Group Plc <DNLM.L> said it expected British consumers’ disposable incomes to be under pressure as it reported a drop in sales in the 12 months to June. The seller of cushions, curtain and baking equipment said comparable sales fell 0.5 percent, citing a “changing pattern of customer shopping habits”. “We expect the trading climate to remain challenging with the disposable income of UK consumers under pressure,” the retailer said on Wednesday. Rising inflation and muted wage growth since Britain’s vote to leave the European Union in June 2016 has led many consumers to rein in their spending.

(Reporting by Rahul B in Bengaluru; editing by John Stonestreet)
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