Dunelm Group (DNLM): Winning Hearts & Homes plan
This situation live
DNLM Dunelm Group
8 Sep 2026 · Three-year plan launched with new CEO · +14% until the next step
we are launching 'Winning Hearts & Homes', a customer-led, self-funded plan to strengthen our market leadership position.
8 Sep 2026 · Plan detailed at investor strategy update · +14% until the next step
Saving to invest through the removal of c.£100m5 of unproductive costs from the FY26 base by FY29, and fully reinvesting in initiatives that support higher sustainable growth
15 Oct 2026 · Early implementation; cost removal begun · −1% since
As previously disclosed, we have begun implementing our organisational design and cost removal plans.
Winning Hearts & Homes plan
Early implementation; cost removal begun
JAN14
Next: Q2 trading update in 82 days
Every step · 3
- 8 Sep 2026 Three-year plan launched with new CEO – we are launching 'Winning Hearts & Homes', a customer-led, self-funded plan to strengthen our market leadership position. ↗
- 8 Sep 2026 Plan detailed at investor strategy update – Saving to invest through the removal of c.£100m5 of unproductive costs from the FY26 base by FY29, and fully reinvesting in initiatives that support higher... ↗
- 15 Oct 2026 Early implementation; cost removal begun – As previously disclosed, we have begun implementing our organisational design and cost removal plans. ↗
What is happening
Dunelm Group: Winning Hearts & Homes plan – Early implementation; cost removal begun. ['Early implementation; cost removal begun']
- In short
- New CEO Clo Moriarty launched the three-year self-funded plan on 8 Sep 2026, with targets of mid-to-high single digit sales growth, c.11% adjusted PBT margin and c.30% ROCE, funded by c.£100m of cost removal. On 15 Oct 2026 the company reported it had begun implementing organisational design and cost removal, with range trials live and RFID in a small number of stores.
- Announced
- 8 Sep 2026 · Three-year plan launched with new CEO
- Latest
- 15 Oct 2026 · Early implementation; cost removal begun
- Cost savings
- c.£100m of unproductive costs removed from FY26 base by FY29, fully reinvested
- One-off costs
- £30m - £40m over the next two years, reported as adjusting items
- Extra capex
- c.£125m above recent run-rate over three years
- Leverage range
- Net debt:EBITDA of 0.2x - 0.6x
- Cost removal
- Implementation begun; c.£100m target by FY29
- Range trials
- Plain-dye bedding and Egyptian Cotton towels trials live
- RFID
- Live in a small number of stores
- Contact centre
- AI-enabled tools deployed
What comes next
Q2 trading update (14 Jan 2027).
From the company's own announcements. Not investment advice.
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