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Dunelm - New CEO eyes internal improvements

September 2015

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:
  • 892p
Dunelm’s Q4 update was at the top end of expectations with like-for-like sales growing 5.8% in the 13 weeks ended 27 June. Furniture, curtains and blinds sold especially well, while gross margins fell 0.7% reflecting higher than usual clearance activity.Four new superstores opened, taking the total to 12 including one relocation and it ended the period with 148 superstores against a target of 200.After paying dividends totalling £183m in the year net debt was £78.2m.Peel Hunt notes that new CEO John Browett, a retail big hitter and former CEO of Tesco.com, Dixons and Monsoon, does not intend to just fine tune things and has already identified areas that can be improved internally.Dunelm is guidin ...

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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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