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Retailer Dunelm Q1 revenue falls hurt by warm weather
October 6, 2016 / 8:01 AM / a year ago

Retailer Dunelm Q1 revenue falls hurt by warm weather

Oct 6 (Reuters) - British homewares retailer Dunelm Group Plc posted weak first-quarter results after unusually warm weather hurt sales.

** Shares in the company fall as much as 6 percent to 805 pence, making them the worst performers on the FTSE Mid Cap index on Thursday morning.

** Dunelm says total revenue for the 13 weeks to Oct. 1 falls 1.8 percent to 198.7 million pounds ($252.8 million), with like-for-like sales down 3.8 percent.

** Company says unusually warm weather through August and September hurt store footfall.

** Sees good growth in online business, including a 17.9 percent increase in home-delivery sales.

** Cantor Fitzgerald, in a client note, says it is disappointed that Dunelm did not resume share buyback programme; cuts price target to 950 pence from 1000 pence.

** Company expects strong second-quarter trading on the back of store refits, new store openings and extra seasonal space. ($1 = 0.7861 pounds) (Reporting by Rahul B in Bengaluru; Editing by Gopakumar Warrier)

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