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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Dunelm Group plc    DNLM   GB00B1CKQ739

DUNELM GROUP PLC

(DNLM)
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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. 7.94% 462 End-of-day quote.10.53%
DEERE & COMPANY -0.11% 305.17 Delayed Quote.13.55%
DUNELM GROUP PLC -0.51% 1176 Delayed Quote.-3.05%
MORGAN STANLEY -0.76% 74.13 Delayed Quote.8.17%
NEXT PLC -2.99% 7914 Delayed Quote.11.69%
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More news
Financials
Sales 2021 1 248 M 1 708 M 1 708 M
Net income 2021 114 M 156 M 156 M
Net Debt 2021 60,6 M 82,9 M 82,9 M
P/E ratio 2021 21,3x
Yield 2021 2,30%
Capitalization 2 380 M 3 252 M 3 256 M
EV / Sales 2021 1,95x
EV / Sales 2022 1,86x
Nbr of Employees 9 833
Free-Float 47,7%
Chart DUNELM GROUP PLC
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Dunelm Group plc Technical Analysis Chart | MarketScreener
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Technical analysis trends DUNELM GROUP PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Average target price 1 228,50 GBX
Last Close Price 1 176,00 GBX
Spread / Highest target 44,6%
Spread / Average Target 4,46%
Spread / Lowest Target -52,4%
EPS Revisions
Managers and Directors
NameTitle
Nicholas Guy Wilkinson Chief Executive Officer & Director
William Adderley President
Andrew Harrison Non-Executive Chairman
Laura Carr Chief Financial Officer & Director
William Lester Adderley Deputy Chairman
Sector and Competitors
1st jan.Capitalization (M$)
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AT HOME GROUP INC.61.25%1 616