Sunday 22 July 2018 | ShareProphets: The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares
Lots of updates out there in the troubled retail space. Troubled for all the reasons we see, know and read about...but, of course, not completely uninteresting. So time - in the words of the greatest value investor out there - to ‘get greedy whilst others are fearful’?
Hello, Share Magnates. As I become ever more worried about the prospects of High Street chains, I need to express concerns about Dunelm (DNLM), the household goods purveyor. For one thing, it gave a warning on May 25 that trading conditions were worse than it had expected.
Just when I was losing hope that my insights into the world of frilly curtains and related were proving next to useless, my old pal Dunelm (DNLM) loses another senior executive! To be fair the news that 'Keith Down, its Chief Financial Officer, has informed the Board that he will step down in June to take up a role closer to his family home' is not as shocking as the CEO resignation I talked about in my last piece about the 'UK leading homewares retailer' but the executive revolving door is continuing apace...and has helped push the shares back down to the level I first wrote about them at last August.
I am trying to remember the last time I visited a Dunelm (DNLM) store - to be honest I have much better things to be doing at the weekend than wandering around a home furnishing retailer. On a quiet RNS day, the news that John Browett, the company's CEO for the last couple of years, had resigned with immediate effect for personal reasons stood out. I do not know why John resigned but I wish him the best...and this brings us to the observation that the company itself makes that 'the next phase of growth requires different leadership' (which it will announce in due course - the Chairman is taking charge for the time being).
Hello Share Pippers. The chain store firm of Dunelm Group (DNLM) has produced some jolly good figures. They are in line with other reports that consumer spending is actually up since the Brexit vote. So all those gloomy folk who predicted hard times ahead after our decision to divorce from Europe are wrong.
Hello Share Mongers. My house is furnished with vintage stuff. This is because my past was more enjoyable than my future. And I like to be reminded of when I was a young blade. So I feel a bit unwell whenever my wife approaches Ikea with her credit card in hand. Actually, it’s my credit card, which makes it worse.
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