Dunelm Group plc
29 April 2008
29th April 2008
Dunelm Group plc ("Dunelm")
Interim Management Statement
Dunelm, the leading out-of-town specialist homewares retailer, announces an
interim management statement for the 43 weeks to 26th April 2008.
Sales
Sales over the 43 weeks were 12.2% greater than the equivalent period in the
previous financial year, including like-for-like ("LFL") growth of 4.5%. In the
17 week period since the half year, total sales have grown by 15.0% and LFL
sales by 3.9%.
The Board believes that Dunelm has continued to gain market share on a LFL
basis.
Gross Margin
Gross margin performance has remained solid and the gains reported at the half
year have been sustained so far in the second half.
Store Openings
New superstores in Leeds and Bournemouth were opened in January, and the latest
new superstore was opened in Sittingbourne on 17th April. Trading at all of
these stores has exceeded expectations so far.
Including these openings, the total number of superstores is 76, with a further
13 older format high street stores. No further changes to the superstore
portfolio are anticipated before the end of the current financial year, but
already leases have been signed for six units due to open in FY09.
Will Adderley, Chief Executive, commented:
"Our merchandise and our stores continue to attract customers and we are pleased
with performance so far this period, although the cold weather has undoubtedly
helped us. For the remaining weeks of the financial year we are up against very
strong comparatives - we had LFL growth of 15.5% in the final nine weeks last
year so we are cautious about the short term outlook for LFLs. Looking ahead to
our next financial year, like most retailers we anticipate a challenging
economic and trading background. However we have proved our resilience in the
past and with the benefits of a stronger stream of new openings starting to feed
through, I am confident in the prospects for our overall business performance."
Dunelm will announce a trading update on 8th July 2008 and its preliminary
results for the 52 weeks ending 28th June 2008 on 11th September 2008.
ENDS
For further information please contact:
Dunelm Group plc 0116 2644 356
Will Adderley, Chief Executive
David Stead, Finance Director
Hogarth Partnership 020 7357 9477
Fiona Noblet
Notes to Editors
Dunelm is amongst the top 10 retailers operating in the £12bn UK homewares
market. The Group has 89 stores, branded Dunelm Mill, of which 76 are
out-of-town superstores. Dunelm employs over 5,500 full and part time staff, the
vast majority of whom work in the stores.
Dunelm was founded in 1979 as a market stall business, selling ready made
curtains. The first shop was opened in Leicester in 1984 and over the following
years the business developed into a successful chain of high street shops in the
Midlands specialising in soft furnishings. The first Dunelm superstore was
opened in 1991, leading to the Company's move into the broader homewares market.
The superstores provide an average of 28,000 sq ft of selling space and offer an
extensive range of approximately 20,000 products across a broad spectrum of
categories, including bedding, curtains, gifts and seasonal items, cushions,
bathroom products, kitchenware, quilts, pillows and rugs. Dunelm also
specialises in offering a wide range of fabrics, made to measure curtains and a
frequently changing series of special buys. The directors are passionate about
ensuring that all ranges live up to Dunelm's philosophy of offering customers
"Simply Value for Money".
Dunelm also has an on-line store (www.dunelm-mill.com) with over 9,000 products
available.
Dunelm is listed on the London Stock Exchange (DNLM.L).
This information is provided by RNS
The company news service from the London Stock Exchange
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