Dunelm plans to cut £100m of ‘unproductive’ costs in three-year strategy

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Homeware retailer Dunelm has said it plans to strip around £100 million of “unproductive” costs from the business as part of a new three-year growth strategy, after cutting its central teams by around 8%.

The cost-cutting programme will aim to make savings by the 2029 financial year through restructuring and changing internal processes.

Dunelm said work was already underway and, in the past three months, it has removed around 8% of “central roles” within the business to “simplify the business and reduce central costs”.

“We estimate that these changes, in addition to further targeted cost removal over the next three years, will deliver annualised savings of c.£40 million,” according to the firm.

The three-year strategy also includes efforts to improve and simplify the retailer’s product ranges, renew its chain of shops and open new ones.

Dunelm said it was targeting around 100 potential locations for new stores, with up to 10 new openings per year for the next three years.