Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Another quarterly trading update has been published by Dunelm [LON:DNLM] this morning and again true to recent form, there’s more good news from the soft furnishings and homewares business. Total sales are up 6.4% for the period, with online driving the charge here, although even physical store sales are ticking higher. The company continues to see margin improvements too, up by 130bps over the reported period although the performance for the financial year is expected to show little change as currency headwinds bite.
N Brown Group
Online clothing retailer N Brown Group [LON:BWNG] isn’t faring quite as well, with half year numbers out today. Group revenues are down by 5.4% and margins are creeping higher, too. The company has however managed to implement a series of operational efficiencies as part of its turn around plan, with operational expenses being driven lower. The company remains mindful of the challenging macroeconomic environment and uncertainties relating to Brexit but at present, full year expectations remain unchanged.
Hargreaves Lansdown [LON:HL] may have been dragged into the Woodford saga, but today’s quarterly update from the investment group shows little cause for concern. Net new business for the three months to 30th September has resulted in £1.7billion worth of inflows and 35,000 new clients, up from 29,000 in the comparable period a year earlier. Net revenue are up 6%, although with fees based on assets under administration, the company remains exposed in the event of a broader stock market correction.