LONDON (dpa-AFX) - Dunelm Group plc (DNLM.L), a homewares retailer, Wednesday reported that its fourth-quarter total sales were 380.1 million pounds, up 101.7 percent from 188.5 million pounds a year ago. In the prior year, stores were closed during the first national lockdown.
Compared to the pre-pandemic same period in fiscal 2019, total sales climbed 43.9 percent on the two year basis.
Total like-for-like or LFL sales growth was 100 percent in the quarter, compared to 29 percent drop a year ago.
Digital sales growth remained strong throughout the quarter, up 38 percent on the same period last year.
Gross margin in the fourth quarter increased 460 basis points, which was higher than previously anticipated due to the decision to postpone the Summer Sale into the start of FY22. The Summer Sale would normally be complete by the end of fourth quarter.
Looking ahead, citing the strong sales performance since re-opening and a higher gross margin rate than anticipated, the company expects full year profit before tax to be approximately 158 million pounds, slightly ahead of analyst forecasts.
Separately, Dunelm announced the appointment of Vijay Talwar as a Non-Executive Director. Talwar will join the Board on October 1, and will be a member of the Audit and Risk, Remuneration and Nominations committees.
He is an Executive Committee member at Foot Locker, Inc., the New York-based specialty athletic retailer, where he is Executive Vice President and Chief Executive Officer of Europe, Middle East and Africa.
Copyright RTT News/dpa-AFX
© 2021 AFX News
