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Dunelm

June 2018

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • DNLM
  • Price:
  • 539p
After the very reassuring Q3 update delivered on 12 April when even the beast from the East failed to impact it too badly, Dunelm said it has seen weaker and more volatile trade in the first two months of Q4 (April, May). Q4 Physical Store LFL sales to date is  -4.7%, compared with +1.2% in Q3. LFL online sales continue to perform well ahead of expectations, with Q4 to date +43.7% compared to +35.7% for Q3. Maybe it was the spring sunshine that meant everyone shopped from home or my own pet theory is that the news coverage of the royal wedding was messing with everyone’s headspace. Canaccord  is now guiding to FY18 sales +10% to £1.1bn and pretax profit of £107m/eps of 42.7p. A Q4 update is due on 12 July. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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