Home furnishing retailer Dunelm has reported £1.63bn ($2.09bn) in sales in fiscal year 2023 (FY23), up 6% compared with FY22 on a comparable 52-week basis.
Digital sales for the latest fiscal year accounted for 36% of total sales, increasing by one percentage point (ppt) from the prior fiscal year.
The retailer also expects gross margin for the full year to align with its guidance of around 50%, and profit before tax to be slightly above current analysts’ consensus of £188m.
In the fourth quarter (Q4) of fiscal year 2023, Dunelm registered total sales of £381m, an increase of 6% from the corresponding period a year ago.
The company’s digital sales accounted for 39% of total sales over the quarter, which is two percentage points higher compared with Q4 FY22.
Dunelm offers multiple categories of homeware products through its 179 out-of-town superstores and website, dunelm.com. It has more than 11,000 employees.
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Dunelm chief executive officer Nick Wilkinson said: “The breadth and relevance of our product offer has continued to resonate with our home-loving customers over the last quarter of the year. This has been reflected in our strong financial performance despite the challenging broader consumer backdrop.
During the latest quarter, the company reduced prices on more than 1,000 lines, and its customers were also able to benefit from the offers provided through its Summer Sale.
Wilkinson added: “We have a strong business model, with committed colleagues and suppliers, who strive every day to improve our customer proposition. We continue to focus on further strengthening our product mastery, developing our stores, enhancing our digital channels and building out our marketing ecosystem in order to create an even better experience for our customers.
“With these improvements to our customer proposition and business capabilities we see a compelling opportunity for sustainable and profitable growth and are confident about the future.”