Dunelm suffers Q4 like for like sales slip

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Date: Tuesday 08 Jul 2008

LONDON (ShareCast) - Out-of-town home products retailer Dunelm attributed a 2.4% slide in fourth quarter like for like sales to strong comparisons with last year when poor weather attracted more shoppers.

The firm, which trades from 76 superstores and 13 high street stores, also warned that the market is likely to get tougher in the coming financial year.

Sales for the 26 weeks to 28 June rose 10.5% to £194.4m, but were flat on a like for like basis, while 52-week sales of £391.8m were also up 10.5%, and up 2.5% like for like.

“Whilst many home-related retailers are feeling an impact from negative macro-economic factors, Dunelm is more resilient than most - 'simply value for money' is more appealing than ever at times like this,” said boss Will Adderley.

“We have a very strong balance sheet and healthy cash generation so we remain extremely well placed to exploit market weakness.”

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