LONDON (dpa-AFX) - Dunelm Group plc (DNLM.L) reported second quarter total sales of 407 million pounds, up 13% from prior year. Gross margin in the second quarter increased by 160bps from last year, ahead of the Group's expectations, driven by higher full price sell through of seasonal ranges.
For the first half of the fiscal year, total sales were 796 million pounds, up 11% from a year ago. Gross margin increased by 80bps, with the positive impact being partially offset by the timing of the Summer Sale in the first quarter. Given the strong sales and margin performance, the Group projects first-half profit before tax to be approximately 140 million pounds compared to 112 million pounds, prior year.
The Board expects full year fiscal 2022 profit before tax will now be materially ahead of market expectations. It now estimates full year gross margin will be better than previously expected, at around 30-50bps lower than prior year.
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