StockMarketWire.com - Homewares retailer Dunelm reported a rise in fiscal first-quarter sales as its summer sale promotion in July, boosted demand.

For the 13-week period ended 25 September 2021, sales increased by 8.3% year-on-year against a 'very strong' comparative period in FY21, when sales grew by 36.7%, the company said.

'This strong performance was mainly driven by the positive customer response to our Summer Sale in July, improved product availability and some popular new ranges in our furniture categories.' it added.

Gross margin in the first quarter decreased by 10 basis points reflecting the summer sales.

'We expect gross margin for the first half to be flat to slightly positive compared to H1 FY21, noting that Q2 FY21 was impacted by store closures,' the company said.

Looking ahead, the company expects that FY22 full-year pretax profit would be in line with analysts' recently increased consensus expectations for profit in a range of £179 million.


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