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Dunelm - Homeware supremo targets 300 stores

August 2013

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.

Dunelm shot over £10 after a better than expected Q4 update. Against the very strong Q4 last year when Dunelm had seen like-for-likes up 10.4%, analysts had been expecting Q4 to come in softer. As it was, Dunelm achieved -2.8%, much better than the consensus, whilst Q4 gross margin was also strong with an 80 basis point improvement mainly driven by direct sourcing. At the year-end having added 14 new stores, Dunelm operated from 126. Including these, revenues for the full year grew by 12.2% to £677m whilst like-for-like grew by 1.7%. UBS forecast eps of 39.8p, lifting to 44.7p this year. No longer cheap on a prospective PE of 22 but with an overall game plan of 200 stores, we th ...

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Dunelm - High growth ambition for home delivery (September 2020)

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Dunelm - Shares soar to 52-week high (February 2019)

Dunelm - Strengthens online proposition (December 2018)

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Dunelm - Q3 online sales +36% (May 2018)

Dunelm (March 2018)

Dunelm - Excellent Q1 update (November 2017)

Dunelm - Q4 shows early signs of improvement (August 2017)

Dunelm - Follow directors lead and buy (March 2017)

Dunelm (November 2016)

Dunelm (October 2016)

Dunelm (August 2015)

Dunelm (May 2015)

Dunelm - Becoming a great total return stock (March 2015)

Dunelm (August 2014)

Dunelm (October 2013)

Dunelm (February 2013)

Dunelm - 32.5p a share special dividend (October 2012)

Dunelm - Rain-sodden consumers buy more homewares (August 2012)

Dunelm (February 2012)

Dunelm (November 2011)

Dunelm (October 2011)

Dunelm (August 2011)

Dunelm (May 2011)

Dunelm - First ever downgrade to profits as snow hits hard (February 2011)

Dunelm - Shares rocket after Q1 trading update (November 2010)

Dunelm (October 2010)

Dunelm - Future growth driven by new space (August 2010)

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Dunelm - Proposes a 21.5p special dividend (March 2010)

Dunelm - Ahead of expectations (December 2009)

Dunelm - Solid prospects drive shares higher (November 2009)

Dunelm - Astonishing 16.1% like-for-like sales growth in the first 10 weeks (October 2009)

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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Dunelm - Homeware supremo targets 300 stores

August 2013

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