Dunelm secures sustainability financing as it enjoys sales growth

Dunelm ‘continued to see strong trading momentum’ in the past two months, shareholders have been told.

The retailer’s cfo Laura Carr is to leave next June to take a non-retail job. ‘Laura has made a tremendous contribution to Dunelm in her three years with the business, a period in which we have significantly built our digital capabilities and navigated a global pandemic, whilst producing very strong financial results. I would like to thank her personally and on behalf of the business for her dedication and we wish her every success in her new venture,’ says Nick Wilkinson, Dunelm ceo.

‘I have very much enjoyed my time with Dunelm. I am extremely proud of how the business has grown over recent years and it clearly has significant potential in the years ahead. I would like to thank my colleagues for the fantastic support they have given me, and I wish them all continued success,’ says Carr.

The retailer has swapped its overdraft for one linked to sustainability targets. It has secured a £185m facility with several banks for four years, with an option to extend for two more, that could see the rate fall or rise by 2.5bs.

Targets include a 50% reduction in Dunelm’s greenhouse gas emissions by 2030 against a 2019 base, in line with the Science Based Targets Initiative 1.5 degrees scenario; all own brand cotton products to meet Dunelm’s ‘More Responsibly Sourced’ standard by 2025; a 20% reduction in plastic packaging of own brand products by 2024; and provision of a customer take-back service for 50% of our products by 2024.

‘Our sustainability plans have already taken a big leap forward as we continue to pursue our ambition of being sustainable in everything we do.We are delighted to further demonstrate our commitment with this new sustainability linked revolving credit facility, which is clearly aligned to our Net Zero Pathway. We appreciate the support of our banking partners and their alignment with our sustainability ambitions,’ says Carr.

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