July 10 (Reuters) - British homewares retailer Dunelm Group on Wednesday said it expects full-year profit to be at the upper end of management’s view, as it reported higher total life-for-like sales in the fourth quarter due to higher consumer demand.
The company, which raised its annual profit forecast in June, said it anticipates profit at the higher end of the 124 million pound to 126 million pound range it previously provided, as total like-for-like sales rose 15.4%.
Dunelm had raised its annual profit forecast for the second time in two months in June as the early wet summer weather drove Britons to its out-of-town shops and online spending rose. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Bernard Orr)
Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.
Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.