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Investing.com -- Dunelm Group PLC (LON:DNLM), the UK’s leading homewares retailer, on nThursday reported a 6.2% increase in first quarter sales to £428 million, with digital participation rising 3 percentage points to 40% of total sales.
The company also delivered gross margin improvement of 80 basis points year-on-year, driven by favorable foreign exchange rates and operational efficiency.
The company’s shares slipped 1.5% following the announcement, as investors reacted to management’s indication that profits would be more heavily weighted toward the second half of the fiscal year than previously expected, due to the timing of investments and inflationary pressures.
Dunelm saw broad-based growth across its product categories, with particularly strong performance in warming textiles like rugs and throws as customers prepared their homes for colder months. The company’s student campaign delivered approximately 40% YoY growth, helping to attract younger customers.
"After a few weeks immersing myself in the business, I’m delighted to see up close the qualities that attracted me to Dunelm: an inclusive culture, committed colleagues, and a genuine passion for the role we play in our customers’ lives," said Clo Moriarty, Chief Executive Officer.
During the quarter, Dunelm reached a significant milestone with the launch of its app on the Apple App Store, marking a new phase in its digital development. The company also introduced its "Home of Colour" brand campaign to showcase its product depth and encourage cross-category coordination.
Despite the uncertain consumer environment, Dunelm maintained that its full-year profit before tax outlook remains in line with the Board’s expectations. The company continues to target 10% market share in the medium term through sustainable, profitable growth.