Original
RNS Number : 7282N
Dunelm Group plc
03 October 2012
 



 

3rd October 2012

 

Dunelm Group plc ("Dunelm") - Interim Management Statement

 

Dunelm, the UK's leading homewares retailer, today provides an update covering the period from 1st July 2012 to date. Financial information is in respect of the first quarter of the current financial year, comprising the 13 week period from 1st July to 29th September 2012.

 

Sales & Gross Margin

 


13 weeks

to 29th September

2012

13 weeks

to 1st October

2011




Total sales value

£151.8m

£133.4m




Total sales growth

+13.8%

+5.3%

  LFL sales growth

+3.0%

-2.0%

 

The Board believes that Dunelm has gained market share on a like-for-like basis over the quarter.

 

As anticipated, gross margin has continued to increase year on year, with an estimated 40 basis points rise compared with the equivalent quarter last year. Going forward, the rate of increase is expected to slow due to strategic price investment in key product areas.

 

Store Portfolio

 

Four new superstores were opened during the first quarter, including one relocation, bringing the estate to 118 superstores across the UK. We have 10 further openings committed, including two relocations; the majority of these are anticipated to commence trading in the current financial year.

 

Financial Position

 

As at 29th September 2012 net cleared funds amounted to £95.4m. Daily average net cleared funds over the quarter were £82.8m. As previously announced the Board is proposing that surplus capital amounting to £65.8m (32.5p per share) be returned to shareholders; if approved, this return of capital will take place on 30th November 2012.

 

 

Nick Wharton, Chief Executive, commented:

 

"This solid quarter of trading reflects the unrivalled choice and excellent value which form the core of our Simply Value For Money proposition, leading to a further gain in market share on a like-for-like basis.

 

"Despite the challenging consumer environment, this performance further reinforces our confidence in our strategy and in the opportunity for future growth both through new stores, where our pipeline remains strong, and multi-channel."

 

 

Notes

1.     Like-for-like sales represents revenues from stores trading for at least one full financial year prior to 1st July 2012 and excludes stores with significant change of space in the current or previous financial year.

 

 

- Ends -

 

 

 

 

 

For further information please contact:

 

Dunelm Group plc

0116 2644 356

Nick Wharton, Chief Executive


David Stead, Finance Director




MHP Communications

020 3128 8100

John Olsen / Simon Hockridge


 

For photography, please contact MHP Communications.

 

 

 

 

Notes to Editors

 

Dunelm is market leader in the £11bn UK homewares market. The Group currently operates 127 stores, branded Dunelm Mill, of which 118 are out-of-town superstores and 9 are located on high streets, and an on-line store, to be found at www.dunelm-mill.com.

 

Dunelm's "Simply Value for Money" customer proposition offers industry-leading choice of quality products at keen prices, with high levels of availability and supported by friendly service. Core ranges include many exclusive designs and premium brands such as Dorma, and are supported by a frequently changing series of special buys. The superstore format provides an average of 30,000 sq ft of selling space with over 20,000 products across a broad spectrum of categories, extending from the Group's home textiles heritage (bedding, curtains, cushions, quilts and pillows) to a complete homewares offer including kitchenware and dining, lighting, wall art, furniture and rugs. Dunelm is one of the few national retailers to offer an authoritative selection of curtain fabrics on the roll, and owns a specialist UK facility dedicated to producing made to measure curtains.

 

Dunelm was founded in 1979 as a market stall business, selling ready-made curtains. The first shop was opened in Leicester in 1984 and over the following years the business developed into a successful chain of high street shops before expanding into broader homewares categories following the opening of the first Dunelm superstore in 1991.

 

Dunelm has been listed on the London Stock Exchange since October 2006 (DNLM.L) and has a current market capitalisation of approximately £1.3bn.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IMSLLFEFIFLFIIF