(Alliance News) - Dunelm Group PLC on Wednesday said full-year earnings would be better than expected after pent up demand drove soaring sales as lockdown restrictions are eased.
The home furnishing retailer announced sales for the first seven weeks of its fourth quarter, beginning March 28, increased 59% against the equivalent period two years prior. Sales growth had been very strong since the majority of its stores re-opened on April 12, Dunelm noted, and growth from digital sales was also encouraging.
Leicester, England-based Dunelm said it had "performed significantly ahead of the market" in the five weeks since stores re-opened and that it expected full year pretax profit to be more than GBP148 million, "significantly ahead" of analysts' expectations.
Shares in Dunelm were up 5.4% at 1,538.42 pence each in London on Wednesday.
By Will Paige; willpaige@alliancenews.com
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Dunelm (DNLM)