Dunelm Group plc (LON:DNLM) rose on Thursday after announcing its online shop has seen “significantly higher” order levels than before the coronavirus pandemic following its reopening.
The homewares chain closed all its stores and online operations when the lockdown was enforced in the UK last month, but the website is now active after ensuring safety measures for workers.
READ: Dunelm cancels dividend and shuts shops after UK goes into full lockdown
Physical stores remain closed, with the staff being furloughed.
As of 11 April, net debt was £40mln, while financing facilities are a fully drawn £165mln revolving credit facility and £10mln overdraft.
Dunelm is also eligible to access funding through the Covid Corporate Financing Facility set up by the Bank of England.
Executive management have taken a 20% pay cut, chief executive Nick Wilkinson is giving up 90% of his salary and the chairman and non-executive directors will not be paid in the three months to June.
Analysts at house broker Peel Hunt said Dunelm can operate on less than £20mln per month while the estate remains closed, meaning it will emerge from the lockdown in a "strong" financial position.
"Dunelm’s online penetration is likely to take a leap forward, enabled by the group’s new platform and experience over recent weeks," they commented.
Shares advanced 5% to 870p on Thursday in early dealings.
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