HOMEWARE retailer Dunelm posted strong sales growth yesterday, despite ongoing macroeconomic concerns.

In its full year results, the firm experienced sales growth of 16.2 per cent, with total sales 41 per cent higher than 2019 levels. Sales hit £1.5bn, with profit before tax at £209m. Active customers also grew by 8.5 per cent over the year.

Dunelm chief Nick Wilkinson said that as the cost of living continues to bite, customers have been drawn to the retailer's "offer of outstanding value at all price points".

Peel Hunt backed the retailer, and said Dunelm managed inflationary pressures well, "maintaining or even reducing compelling opening price points, increasing choice and options, delivering a value proposition that is more than just price".

"There is no sign of trading down, or weakness in any category", they said, adding that it enters the new year with "record brand awareness, active customers and an intent to double down on value".

Shares closed up almost 3.5 per cent yesterday on the news.

(c) 2022 City A.M., source Newspaper