New store openings boost Dunelm sales

3rd Apr 2014 07:10

- Third quarter revenue improves nine per cent- Progress underpinned by new store openings- Confident of future progress, to add more storesHomeware retailer Dunelm said total revenue for the third quarter grew by 9.9 percent and, with opportunities to expand its portfolio, said it is confident in its growth prospects.Changes in its store portfolio included one relocation of an existing under-sized superstore and one superstore which replaces two high street shops that have subsequently closed, taking the total superstore openings in the financial year to date to 10.The group said like-for-like (LFL) sales for the quarter grew 5%, "also reflecting the absence of any snow disruption this year". Gross margin for the quarter continued its positive trend with an improvement of around 100 basis points compared with the prior year, it said.Looking ahead, its pipeline of new store opportunities stands at eight, of which two are expected to open prior to the financial year-end.Chief Executive Nick Wharton said: "With clear opportunities to develop further our in-store offer, to expand our store portfolio and to benefit from our exciting multi-channel and customer service initiatives, the board remains confident in the growth prospects for the business." CJ