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Dunelm stores; Delivering more of the retailer's growth than appears immediately obvious
Dunelm released a third quarter trading update last week that revealed 5.1 percent growth in total sales including a 4.6 percent like-for-like uplift.

 

Like-for-like online sales were up an impressive 35.7 percent to £29.4 million, it said, with same-store shop sales up by a more modest 1.2 percent.


So, online the key growth driver, then?


Or perhaps not.


Dunelm's like-for-like online figure represents its Dunelm.com business, which is doing a roaring trade, no doubt boosted by the wealth of know-how and suppliers it has acquired following its acquisition of the WorldStores group.


Dunelm categorised its WorldStores' business under non like-for-like online sales, and these declined by £7.8 million to £15 million for the quarter.


Combine the two, and total Dunelm group online sales actually declined fractionally in the third quarter, though this also reflects the disposal of the Achica.com business.


Total Dunelm sales increased £13 million, with £13.1 million of that — ie over and above the total — the result of higher sales from its stores business.


The narrative regarding its online business appears to reflect the transition of revenue from WorldStores to Dunelm.com rather than outright growth in ecommerce sales for the group.


Related StoryDunelm makes third quarter revenue gains

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