Overview
UK homeware retailer's H1 sales rose 3.6% to £926 mln
Q2 sales grew 1.6% to £498 mln amid challenging retail environment
Company expects FY26 PBT at lower end of consensus due to softer Q2 trading
Outlook
Dunelm expects FY26 PBT to be at the lower end of consensus expectations
Company plans to open up to two new Superstores in the second half
Dunelm launches new app with full customer launch planned for February
Result Drivers
CORE CATEGORIES - Growth in Q2 driven by core categories such as bedding, towels, and lighting, despite softer overall sales
DIGITAL SALES - Digital sales rose to 42% of total sales, aiding overall sales growth
FX TAILWINDS - Gross margin increased by 60bps in H1, primarily due to FX tailwinds
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Sales
GBP 926 mln
H1 Sales Growth
3.60%
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the home furnishings retailers peer group is "buy"
Wall Street's median 12-month price target for Dunelm Group PLC is GBp1,310.00, about 12% above its January 14 closing price of GBp1,170.00
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 14 three months ago
Press Release: ID:nRSO9603Oa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
