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Dunelm sees profit at higher end of view as rainy days spur home furnishing

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By Reuters
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(Reuters) – British homewares retailer Dunelm Group <DNLM.L> expects full-year profit at the upper end of its forecast as more time spent indoors due to wet summer weather spurred shoppers to spruce up their homes.

Dunelm joined the online retail bandwagon a few years ago and has not only benefited from customers spending more time online on bargain deals but has also managed to pull more customers into their stores.

The retailer, which launched its “fully shoppable” website 14 years ago, said like-for-like sales rose 15.4% in the fourth quarter, with a 37% jump in online revenue and 12.1% rise in store sales.

The company, which raised its annual profit forecast for second time in June, said on Wednesday it expects profit at the higher end of the £124 million to £126 million range it previously provided.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Bernard Orr and Arun Koyyur)

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