StockMarketWire.com - Homewares retailer Dunelm reported a rise in like-for-like sales and margin growth in its fiscal second quarter amid sourcing gains and lower product markdowns.

Like-for-like sales increased by 5% in the second quarter, reflecting 'strong growth across the total retail system,' and total growth, including the benefit of new stores, was 6.2%, the homewares retailer said.

Gross margin improved by approximately 110 basis points in the second quarter, as the homewares retailer did not participate in Black Friday or additional pre-Christmas discounting.

Dunelm said it expected pre-tax profit for the first half to be approximately £83m as the impact of using the new accounting measure, IFRS 16, would reduce profit by approximately £1.3m.

Expectations for the full year was remained unchanged, it added.




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