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    DNLM   GB00B1CKQ739

DUNELM GROUP PLC

(DNLM)
  Report
Delayed Quote. Delayed London Stock Exchange - 01/14 11:35:29 am
1394 GBX   -2.79%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Dunelm says trading picks up after difficult year

09/13/2017 | 11:12am EST

(Reuters) - Dunelm Group Plc, the British homewares retailer which abruptly parted company with its chief executive last month, said trading had been encouraging in the first two months of its latest financial year.

The positive comments contrasted with a 0.5 percent contraction in comparable sales for the year to July 1 and lifted shares in home furnishings specialist by almost 10 percent to their highest level in over eight months.

Two weeks ago, the retailer sprang a surprise when it said Chief Executive John Browett was leaving after just over two years in charge.

Chairman Andy Harrison said the company was aiming over the medium-term to double annual sales to 2 billion pounds.

However, it pointed to pressures in the short-term as rising inflation limits the spending power of many Britons.

"We expect the trading climate to remain challenging with the disposable income of UK consumers under pressure," it said on Wednesday.

The company had long enjoyed rising sales for its ranges of items such as cushions, bedding and kitchen equipment, but many consumers have reined in spending over the last year.

The company outperformed the FTSE Mid-cap <.FTMC> between 2012 and 2016 but lags the index since the Brexit vote in June of that year.

However, analysts at Morgan Stanley noted the commentary on current trading and called the start "fairly encouraging".

The brokerage has a target price of 520p on the stock along with a "underweight" rating.

Shares in the company were up 8.9 percent at 665p at 1120 GMT.

(The story removes reference in paragraph seven to "big-ticket" items.)

(Reporting by Rahul B and Noor Zainab Hussain in Bengaluru; editing by John Stonestreet/Keith Weir)


© Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
AIMING INC. 0.74% 273 Delayed Quote.-3.21%
DEERE & COMPANY -0.22% 379.56 Delayed Quote.10.69%
DUNELM GROUP PLC -2.79% 1394 Delayed Quote.0.94%
MORGAN STANLEY -3.58% 98.88 Delayed Quote.0.73%
NEXT PLC -2.97% 7444 Delayed Quote.-8.86%
All news about DUNELM GROUP PLC
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01/13Dunelm raises profit forecasts after sales uptick over Christmas
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01/12UK's Dunelm lifts profit forecast after record Christmas
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01/12FTSE 100 Rises as Miners, Oil Stocks, Sainsbury's Gain
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01/12UK Economy Set to Grow 0.2% in 1Q as Omicron Wave Ebbs
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01/12UK Homewares Retailer Dunelm Group's Fiscal H1 Sales Jump 11%
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01/12Dunelm Group plc Provides Earnings Guidance for the Half Year and Full Year of 2022
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More news
Analyst Recommendations on DUNELM GROUP PLC
More recommendations
Financials
Sales 2022 1 517 M 2 074 M 2 074 M
Net income 2022 153 M 209 M 209 M
Net Debt 2022 66,5 M 91,0 M 91,0 M
P/E ratio 2022 18,9x
Yield 2022 2,88%
Capitalization 2 826 M 3 864 M 3 864 M
EV / Sales 2022 1,91x
EV / Sales 2023 1,82x
Nbr of Employees 11 084
Free-Float 55,8%
Chart DUNELM GROUP PLC
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Dunelm Group plc Technical Analysis Chart | DNLM | GB00B1CKQ739 | MarketScreener
Technical analysis trends DUNELM GROUP PLC
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 1 394,00 GBX
Average target price 1 534,50 GBX
Spread / Average Target 10,1%
EPS Revisions
Managers and Directors
Nicholas Guy Wilkinson Chief Executive Officer & Director
William Adderley President
Laura Carr Chief Financial Officer & Director
Andrew Harrison Non-Executive Chairman
William Reeve Senior Independent Director
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