Dunelm profits plummet
Dunelm has reported its results for the year to July 1st 2017 in which it saw its pre-tax profits drop by 28.3 per cent to £92.4 million. Its overall sales revenues has risen by 8.5 per cent to £955.6 million but, like for like sales fell by 0.5 per cent with comparable store sales down by 2.4 per cent. Dunelm attributed the results to a challenging and subdued market as well as costs emanating from its acquisition of Worldstores and increased investment. “Dunelm has made good strategic progress over the year, most notably with the acquisition of Worldstores, which moves us closer to our goal of being the biggest and best multichannel homewares retailer in the UK,” said chairman Andy Harrison. The business parted company with its CEO John Browett in August.