Dunelm is the UK's leading specialist out of town homewares retailer, operating in the 12bn homewares market. The Group currently operates 161 stores, branded Dunelm Mill, of which 157 are out-of-town superstores and 4 are high street shops. The majority of the stores are located in the Midlands or north-west of England. Dunelm employs over 5,000 full and part time staff, the vast majority of whom work in the stores.

Dunelm was founded in 1979 as a market stall business, selling ready-made curtains. The first shop was opened in Leicester in 1984 and over the following years the business developed into a successful chain of high street shops in the Midlands specialising in soft furnishings. The first Dunelm superstore was opened in 1991, leading to the Group's expansion into the broader homewares market.

The superstores provide an average of 28,000 sq ft of selling space and offer an extensive range of around 20,000 products across a broad spectrum of categories, including bedding, curtains, gifts and seasonal items, cushions, bathroom products, kitchenware, quilts, pillows and rugs. Dunelm also specialises in offering a wide range of fabrics, made to measure curtains and a frequently changing series of special buys. The directors are passionate about ensuring that all ranges live up to Dunelm's philosophy of offering customers "Simply Value for Money".

Dunelm also operates an on-line store, to be found at www.dunelm-mill.com.

Dunelm listed on the London Stock Exchange in October 2006 (DNLM.L) and has a current market capitalisation of approximately 750 million

Cantor Fitzgerald Buy 942.75 1,020.00 1,020.00 Reiterates

N+1 Singer Hold 942.75 950.00 950.00 Reiterates

talk about selling on results! ..... all the way up yesterday and all the way down today - tho i do not hold

Numis Add 943.50 979.00 1,000.00 1,000.00 Reiterates

Any thoughts following the Interim Results on 11th Skinny please?

I'm don't hold atm and am fairly ambivalent about them - they seem to have most of the necessary ingredients in place, but don't quite seem able to put them all together.

I've yet to see the TV advertising, maybe that will move them.

Interim Management Statement

Total revenue for the third quarter grew by 9.9% after four store openings in the period. These included one relocation of an existing under-sized superstore and one superstore which replaces two high street shops that have subsequently closed. This takes the total superstore openings in the financial year to date to 10.

Growth in like for like sales for the quarter was 5.0%, reflecting the absence of any snow disruption this year as well as ongoing investments which have strengthened our customer proposition and driven sales. These include ongoing development in multi-channel, the further roll-out of our Dunelm At Home proposition, enhanced customer service training, continuation of TV advertising and an expanded spring catalogue.

Gross Margin Percentage

Gross margin for the quarter has continued its positive trend with an improvement of approximately 100 basis points compared with the prior year. A key driver of margin improvement is direct sourcing activity, which we continue to support with increased infrastructure. In line with previous guidance, we anticipate that year on year margin growth will continue over the remainder of the financial year.

Strategy Progress

Our pipeline of legally committed new store opportunities stands at eight, of which two are anticipated to open prior to the financial year-end. This will take the number of store openings for the full financial year to 122 and our superstore portfolio to 136 stores at the year-end, compared with our medium term target to operate from 200 UK superstores.

We have seen continued progress in our multi-channel business with pleasing revenue growth during the period as we have capitalised on our improved delivery proposition since opening a new fulfilment operation last autumn, as well as the expansion of our range of exclusive home-delivery products. Our next key development will be to transition our website to a new software platform; we expect to complete this project in summer 2014 as previously indicated.

Financial Position

The Group remains strongly cash generative with closing net cleared funds at bank of £57.3m. Daily average net cleared funds over the period since our return of capital on 11th October 2013 were £47.7m.

Commenting on Dunelm's performance, Nick Wharton, Chief Executive, said:

"Dunelm has again delivered a period of solid progress. This reflects, in part, our willingness to invest to underpin the longer-term growth of the business - including in increased advertising to build brand awareness, further enhancing our home delivery proposition, and expanding our in-home consultation service. These investments will continue, increasing our operating cost ratio whilst benefiting sales and further strengthening our market leading proposition.

"With clear opportunities to develop further our in-store offer, to expand our store portfolio and to benefit from our exciting multi-channel and customer service initiatives, the Board remains confident in the growth prospects for the business."

Year-end Trading Update

Final results

Highlights

· Continuing market share gains and Dunelm remains market leader with 7.4% of UK homewares market (source: Verdict Research);

· 12 new openings in the year (including three relocations, resulting in the closure of two existing superstores and two high street shops) increasing footprint to 136 superstores;

· Contractually committed to 11 more superstores for FY15;

· Over 60%growth in multi-channel revenues, now representing over 6% of total business;

· Increasing investment in brand awareness with first national TV advertising campaign;

· Continued investment in product range, service proposition, multichannel, infrastructure, IT systems and people, to underpin long-term growth.


Dividend

· Recommended final dividend of 15.0p per share (2013: 11.5p) giving a 25% increase in the full year dividend to 20.0p (2013: 16.0p).

Board Changes

Cantor Fitzgerald Buy 854.50 850.50 900.00 900.00 Reiterates

Numis Add 854.50 850.50 1,000.00 1,000.00 Reiterates

Excelent trading update this morning.

03 Oct 2014 Dunelm Group PLC DNLM Cantor Fitzgerald Buy 828.25 794.00 900.00 900.00 Reiterates

Strong trading drives Dunelm sales in Q3

Fri 03 October 2014 08:55 | A A A
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Strong trading saw third quarter sales at homewares retailer Dunelm rise to £180.6m, a 17% year-on-year gain.

Like-for-like growth was 8.9% compared with a 5.3% decline in the corresponding period 12 months ago, the company said, adding that gross margin had continued to rise, with an estimated 40 basis points rise compared with the equivalent quarter last year.

"Our sales performance has been strong in the first quarter, driven partly by soft comparatives from last year but also by the strength of the Dunelm offer and an increasing awareness of that offer across the UK," group chief executive Will Adderley said.

"As we look forward, our focus is very much on driving sales. We intend to capitalise on the significant investments we have made, and continue to make, across our business to underpin long term growth."

Dunelm shares rose 5.20% to 835.30p at 08:49 on Friday.

DNML Dunelm Group: Oriel upgrades from add to buy with a target price of 950p.

Ex-divi 3rd Mar 2015 (70p)

Dunelm's sales

StockMarketWire.com

Homewares retailer Dunelm's sales rose by 10.3% to GBP�448.1m in the six months to 2 January. Total like-for-like sales were up 4.6% at GBP404.9m.

Gross margins rose to 50.7% from 50.4% and pre-tax profiges increased by 10,7% to GBP75.5m.

Business Highlights � Continued focus on three part growth strategy - growing like for like sales, rolling out new stores, and growing our home delivery channel - with eight core projects now in place to deliver this

� Solid progress in LFL store sales, underpinned by strong performance from curtains and bedding, particularly our new Kids range

� On-going store portfolio expansion, with future focus now increasingly on London

� Further strong growth in home delivery of 24.4% with growth starting to accelerate following new web platform launch last year

Dividends

� Interim dividend increased by 9.1% to 6.0p per share (FY15: 5.5p per share)

� Special distribution of 31.5p per share (totalling �63.9m), in line with capital structure policy and reflecting continued strong cash generation

Chief executive John Browett said: "It is a really exciting time to be at Dunelm - a business built on a strong foundation of exciting product and design, unrivalled knowledge of the homewares market, a low-cost store network, great people and investment in systems. "Our focus remains on growing the business for the longer term. After making good progress so far, we are continuing to work towards our three part growth strategy and are now focused on eight core projects that will enable us to achieve this. This will allow us to improve our business substantially for our customers and, as we increase both our store network around London and our online presence, to develop Dunelm into a truly national homewares brand. "After a solid performance in the first half, we had a strong sale after Christmas and we expect further good progress in the remainder of the year."







Story provided by StockMarketWire.com

Full year results this week. Any thoughts?

Final Results were 14 September 2016 for 52 weeks to 2 July 16

 Looks like a Q1 interim management statement on the 6 Oct.

Chris,
They look to be doing pretty good trading wise, although the sp looks to have dropped off some.
 

Oh just found from the Hargreaves Landsdown site 30 Sept 16 - Dunelm release a first quarter trading update, which may well confirm a negative impact on sales from recent weather.

Never traded them dc, bit confused re trading updates either Tues or Thurs can't find Calander on their website. Could go either way on watch list.

HSBC like them. I would think the brexit issue would be more of a concern then the weather ? Chris, a few others have downgraded.

Looks like the trading update on Thurs. Info from their own site.