Dunelm reports revenue hike but reveals supply chain issues hit store sales

  City A.M 
Dunelm investors seemed unimpressed with this morning's report on trading in the 13 weeks to 31 December, despite group sales increasing by 6.6 per cent year-on-year. Like-for-like sales from stores declined, by 1.4 per cent, to £215.6m. The company blamed supply chain issues for this reduction but said it had been making improvements by opening a new warehouse and consolidating suppliers. The group said these initiatives had caused "some disruption to in-store availability during the quarter" - Dunelm incurred £3m of additional transitional costs as part of that process. However, the company said today that availability has "already improved to near normal levels and we should see significantly less transitional costs in the second half of the year". And the performance in the last quarter was an improvement on the same period of last year, when the homeware chainblamed warm weather for a disappointing 0.8 per cent slide in sales . Dunelm's home delivery division saw a massive sales increase over the Christmas period, rising 21.7 per cent to hit £20.1m. This resulted in a total like-for-like sales increase of 0.2 per cent. Shares in the company were down 1.56 per cent this morning. The group said it opened five new stores in the 13 week period, and is "legally committed to a further seven new stores of which five are due to open in the current financial year". “Following a difficult first quarter we have seen an improvement in performance both in our stores and online," said Dunelm chief executive John Browett. "It was encouraging to see customers respond well to our seasonal product lines, especially our new Christmas offer. We have continued to outperform the homewares market in what is a challenging and volatile retail environment. “We were pleased to complete the acquisition of Worldstores in the quarter and remain excited by the opportunity it gives us to accelerate the growth of our online proposition."“We continue to focus on and invest in our key strategic initiatives, which will improve the business over the medium term, whilst ensuring we maintain our unique offer of tremendous value for money, combined with an unrivalled range and great service.”
▼ Related news : 
Appeal launched into decision not to list Durham's Dunelm House
The Northern Echo  
Trading Statement (Dunelm Group plc)
World News  
U.S.A.: Internal Revenue Service issues updated FFI agreement (Clearstream Banking SA)
World News  
NOVADAQ Announces Preliminary Unaudited Fourth Quarter 2016 Revenue and Issues 2017 Revenue Guidance
World News  
NOVADAQ Announces Preliminary Unaudited Fourth Quarter 2016 Revenue and Issues 2017 Revenue guidance (Novadaq Technologies Inc)
World News  
UPDATE 1-Vertex issues revenue outlook for cystic fibrosis treatments
BRIEF-Deere & Co reports 14.9 pct passive stake in SiteOne Landscape Supply as of December ...
World News  
BRIEF-Deere & Co reports 14.9 pct passive stake in SiteOne Landscape Supply as of December 31, 2016
Richemont reports an unexpected boost in revenue
World News  
Cineworld reports revenue increase, reshuffles board
World News  
Qalaa reports 21% y-o-y revenue improvement in 3Q16 owing to increases in TAQA Arabia and ASEC Holding revenues; Tawazon sees a 68% y-o-y increase in EBITDA and ERC is 91% complete; net losses after minority interest stand at EGP 207.6 mn (Qalaa Holdings
World News  
BRIEF-Red Robin reports preliminary revenue results for the fiscal Q4 of 2016
BRIEF-Dexcom reports record preliminary, unaudited revenue for the Q4 and fiscal year 2016
Red Robin Reports Preliminary Revenue Results for the Fiscal Fourth Quarter of 2016 (Red Robin Gourmet Burgers Inc)
World News  
Latest news and headlines !
: Hosted by Joel McHale, the award show will honour the best in films, television and music.
: Southern Rail commuters have staged a protest in a bid to highlight their loss of patience with the "terrible...
: Jon Kay talks to people working on the busiest US inland waterway about maintaining the locks, and what Donald Trump could do for them.
: Crude oil production in the Asia-Pacific is falling at a unique rate, according to a report from Wood Mackenzie, with China accounting for about half of the decline, Wood Mac’s Asia-Pacific...
: NORTH KOREAN leader's Kim Jong-un's sister has been banned from the US as relations between the two countries plunged to new depths.
: Martin Von Den Driesch, from Berlin, was the only Western participant on an eight-day visit to North Korea back in August 2014, alongside Russian and Korean tourists.
: We've already heard a lot about HSBC's plans to move jobs to France if Brexit negotiations don't go as the bank hopes. But yesterday Stuart...
: A road in the village of Wangford has been temporarily closed after a crane overturned causing damage to the road surface.
: A GROUP of mermaids have quit their jobs and are taking to the waters of Seattle to follow their dreams of living in the sea.
: By the end of this year, Aberdeen Art Gallery the Cowdray Hall and Remembrance Hall buildings should be open following a major £30million redevelopment. Until that time, the Cowdray Hall’s...
: The Foreign Secretary risked outraging EU allies just a day after Theresa May set out Brexit plans for the first time in a speech welcomed by senior figures on the...
: Despite many positive indicators about the future of the wine industry, overall sentiment dropped this year. Here are five key...
View in : Mobile | Classic
About newsoneplace.com - Privacy & Terms -
Copyright © 2015 www.newsoneplace.com