Dunelm sees annual revenue barely forward of estimates on pent-up demand

A view reveals a Dunelm retailer in St Albans, Britain October 15, 2020. REUTERS/Peter Cziborra

July 21 (Reuters) – British house furnishing retailer Dunelm Group (DNLM.L) stated on Thursday it anticipated its annual revenue to be barely forward of market estimates, betting on pent-up demand at its shops and a shift to on-line procuring.

The corporate appointed Alison Brittain, who’s retiring because the chief govt of Premier Inn-owner Whitbread (WTB.L) on the finish of fiscal 2023, as its chair designate and non-executive director.

Dunelm, which began promoting ready-made curtains greater than 4 many years in the past and went on to develop into one of many UK’s largest homeware shops, is seeing a pick-up in enterprise as Britons rush to its shops to prepared their properties and gardens for summer time.

Pretax revenue is predicted are available barely forward of analysts’ common expectations of 207 million kilos ($248.26 million), the group stated.

Nonetheless, whole gross sales fell 6% to 358 million kilos within the fourth quarter ended June 25, signalling surging inflation that has brought on an acute price of residing disaster in Britain has caught up with the agency.

“The macro outlook stays unsure and we can not predict precisely how customers will reply to the rising pressures on their funds,” Chief Govt Officer Nick Wilkinson stated, including that the corporate was not proof against the inflationary pressures on customers.

($1 = 0.8338 kilos)

Reporting by Eva Mathews in Bengaluru; Enhancing by Sherry Jacob-Phillips and Subhranshu Sahu

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