Homewares retailer Dunelm has announced a 7% rise in pre-tax profit, led by new store openings. The news comes as chief executive Nick Wharton announced that he will be stepping down from the board. He will be replaced by Will Adderley, currently executive deputy chairman.

Geoff Cooper, chairman, said: "In almost four years under Nick's leadership, Dunelm has taken great strides forward. His strong marketing, process and operational focus has significantly strengthened the customer offer while at the same time creating a robust infrastructure, more sophisticated retail systems and a more advanced multi-channel proposition. At the same time, a high quality operational management team has been put in place, and the strong growth and momentum of the business has continued. These achievements are reflected in the strong share price performance during Nick's tenure which, with the level of cash returns, has delivered excellent value for shareholders.The board extends its sincere thanks to Nick and we wish him all the very best for the future.

“Nick's work in establishing an excellent operational and commercial platform has enabled Dunelm to seize the opportunity to exploit its position as the UK's largest homewares retailer, which will continue to provide growth in the Group's market share and financial performance."