Business
Replacement Trading Statement
Replacement Trading Statement.
About this update from Dunelm Group Plc
[{"type":"text","content":"\n \nRNS Number : 5975I Dunelm Group plc 04 July 2013 \n \n\n \nThe following amendment has been made to this Trading Statement announcement issued on 4 July 2013 at 7.00am on RNS no. 5569I\n \nLFL sales growth for 26 weeks to 29th June 2013 should read +1.2% not +0.9%\n \nAll other details remain unchanged\n \nThe fully amended text is show below\n \n \n \n4th July 2013 \nDunelm Group\n \nYear-end Trading Update\n \nDunelm Group plc (\"Dunelm\" or \"the Group\"), the UK's leading homewares retailer, provides the following update on trading for the final quarter of its financial year to 29th June 2013, and for the 52 weeks ended on that date. \n \nRevenue \n \n\n\n\n\nPeriod to 29th June 2013\n \n\n\n52 weeks\n\n\n26 weeks\n\n\n13 weeks\n\n\n\n\nTotal sales value\n\n\n£677.2m\n\n\n£337.1m\n\n\n£159.3m\n\n\n\n\nTotal sales growth\n\n\n+12.2%\n\n\n+11.0%\n\n\n+6.4%\n\n\n\n\n LFL sales growth\n\n\n+1.7%\n\n\n+1.2%\n\n\n-2.8%\n\n\n\n\n \nOver the full financial year, total revenue grew by 12.2% and like for like revenue by 1.7%. The significant increase in total sales reflects the strong store opening programme over the last two financial years, including 14 new openings in the latest financial year (of which two were relocations and one a re-opening).\n \nRevenue growth for the fourth quarter was dampened by the annualisation of extremely favourable weather conditions in the equivalent period of the previous financial year, during which like-for-like revenues grew by 10.4%. Against these challenging comparatives, total revenue grew by 6.4%, with a 2.8% decline in like-for-like revenues.\n\n\n \nGross Margin Percentage\n \nExpansion of gross margin continued in the period, reflecting further improvement in product lifecycle management, as well as benefits from direct sourcing initiatives. Gross margins for the financial year and for the quarter are estimated to have improved by approximately 40 and 80 basis points respectively compared with the prior year, with the fourth quarter performance benefitting from a cleaner stock position as older clearance stock had been exited successfully in our winter sale. \n \nStrategy Progress\n \nWe continue to invest in our customer proposition, for example through enhanced in-store customer serv...