Sept 9 (Reuters) - British homeware retailer Dunelm Group said on Tuesday it was yet to see signs of a sustained consumer recovery in the market, but said it was "pleased" with trading in the early part of its financial year 2026.
Retailers are bracing for a tough year ahead as sticky inflation and slow interest rate cuts dampen consumer confidence and raise fears of price hikes and unemployment.
In the tough macro-environment, regular promotions and discounts have helped Dunelm attract shoppers looking to strike cheaper deals. The retailer, which sells items ranging from armchairs to kitchenware, is also investing in digital tools such as artificial intelligence-powered search to boost customer retention.
The company reported a pre-tax profit of 211 million pounds ($286.41 million) for the year ended June 28, up 2.7% from the prior year and in line with analysts' consensus, according to a company-compiled estimates.
The Leicester-headquartered company said it is confident of gaining further market share as it progresses toward its medium-term target of a 10% market share.
In July, Dunelm named Sainsbury executive Clodagh Moriarty as its new CEO, effective October 1, replacing Wilkinson, who will retire after seven years in the role.
($1 = 0.7367 pounds)
Reporting by Raechel Thankam Job in Bengaluru; Editing by Rashmi Aich
Source: Reuters