Shares in homeware chain Dunelm Group (LON:DNLM) jumped over 5 percent on Friday, after a positive quarter with a “very strong online performance”.
The group reported stronger than expected sales for the three months to July 1st, with total revenue climbing by 17.7 percent to £240 million. Total like-for-like growth, including stores and home delivery, grew by 3.8 percent.
The group confirmed a strong growth in online sales, with around 20 percent of all sales now being generated online. Dunelm have also seen positive results from last year’s acquisition of rival Worldstores, with Chief Executive John Browett commented:
“The Worldstores acquisition will provide a massive leap forward to our online and store offer that we think our customers will love. The integration is going well and we are confident in the benefits it will generate.”
He continued, “We’ve seen a good quarter of trade with positive like-for-like sales growth and a very strong online performance. Encouragingly, we continue to take market share.
“We continue to invest in the business for the longer term to improve our customer proposition and infrastructure and, despite an uncertain consumer environment, we go into the next financial year with some good momentum.”
The group now expects that pre-exceptional profit before tax for the full year will be in the range of £109 million – £111 million.
Shares in Dunelm jumped on the positive news, and are currently trading up 5.44 percent at 629.50 (1054GMT).