Oct 6 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