Dunelm interim sales tick higher, CEO to retire

(Sharecast News) - Homeware retailer Dunelm announced the retirement of its chief executive on Tuesday as it posted an uptick in interim profit and revenue. In an update for the 26 weeks to 28 December 2024, the company said total sales rose 2.4% to £893.7m, with pre-tax profit up 0.2% at £123.2m.

Dunelm said it had been a "good performance in a challenging environment". It hailed another strong digital performance, with 39% of total sales generated through digital channels, up from 36% in the same period a year earlier.

The retailer said it was "encouraged" by early trading in the second half and that full-year expectations were unchanged and in line with consensus expectations for £209m pre-tax profit, with a range of £204m to £214m.

Dunelm also announced that chief executive Nick Wilkinson plans to retire from the group and full-time executive life, following seven years in the role.

It said the board will kick off a formal recruitment process for his successor, considering both internal and external candidates, and will provide an update in due course. Wilkinson will stay on in the role until a successor is appointed.

Wilkinson said: "Our performance over the first half reflects the growing attraction of the Dunelm offer for a wide range of customers, and the quality and resilience of our business model.

"Amidst a challenging backdrop for retail, those attributes have helped us deliver increased sales, a strong gross margin, and both customer and market share growth."