UK-based home furnishing retailer Dunelm has recorded £1.71bn ($2.23bn) in total sales for the fiscal year 2024 (FY24), increasing 4.1% from £1.64bn in FY23.
Online sales accounted for 37% of total sales in FY24, up 1 percentage point from 36% in FY23.
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The retailer’s diluted earnings per share for the fiscal year declined 0.8% to 74.4p, from 75p in FY23.
Dunelm delivered a profit before tax (PBT) of £205m in FY24, up 6.6% from £193m a year previously.
Its gross margin for the fiscal year was 51.8%, increasing 170 basis points from 50.1% in FY23, driven by net freight tailwinds and operational grip.
At the end of the fiscal year, the net debt of Dunelm was £55.6m compared to £30.7m a year previously.
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By GlobalDataDunelm chief executive officer Nick Wilkinson said: “This strong set of results is testament to the hard work of our adaptable and committed colleagues. In a period when consumers faced inflationary pressures and competing demands for their disposable income, we have continued to raise the bar on the relevance and value we offer at Dunelm.
“The continued delivery of volume-driven sales growth and further share gains in this softer market underlines this, and the strength and resilience of our business model.”
The company opened six new stores in FY24.
Headquartered in Leicester, it operates 184 stores across the UK and online through dunelm.com.
Its active customers increased by 5.1% in the 52 weeks to 29 June 2024.
Wilkinson added: “We have made good progress with our growth plans, including the expansion of our store estate, building a faster and better digital experience for customers, and advancing our tech and data capabilities. As we evolve our strategic thinking in this changing environment, we are now even clearer on the areas which will help us to unlock our full potential as the home of homes.”
