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Dunelm - Worldstores acquisition dents profits

March 2017

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:
  • 618p
The shares were marked down after Dunelm guided to higher than expected forecast FY’17 losses of £10m (previous guidance: loss of £5m-£10m) from its recently acquired Worldstores. In the six months ended 31st December ‘16, sales rose 2.8% to £460m but pretax profit fell 13.6% before exceptionals to £65.2m. Eps was 25.6p. Aside from Worldstores’ losses of £1.8m in its first five weeks, the results reflected disruption from changes to its supply chain, unhelpfully mild weather and a slowing in its homewares market from +2% to minus 2% since Brexit.Like-for-like sales in its stores fell 3.1% to £389.4m, although its home delivery business rose 20.1% to £33.7m. Gross mar ...

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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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