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Three Quick Facts: Dunelm, St James’s Place and Naked Wines

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Three things you need to know in the financial markets today from investment writer, Tony Cross.

#1. Dunelm sales decline YoY but long term growth still on track

There’s a Q1 trading update out from Dunelm LON:DNLM this morning covering the period to 1st October. Despite building economic headwinds and some tough comparatives, the company appears comfortable with the -8% decline in sales, especially given the 36% uptick from pre-pandemic levels and the fact that online sales remain stable year-on-year. Margins – as previous expected – have been eroded slightly too, but management are confident that despite the uncertainty that lies ahead, they can continue to offer outstanding value.

#2. St James’s Place retention rates up, but wider market woes hit AUM

St James’s Place LON:STJ have published Q3 inflows and AUM this morning. Despite what the board note as being a challenging environment, retention rates are up fractionally from the same level seen a year ago. Gross inflows and AUM have however both dropped back fractionally, but the overall opinion seems to be one of steady as she goes, with longer term 2025 targets still on track.

#3. Naked Wines operational update shows company now trading profitably

There’s an operational and financial update out from Naked Wines LON:WINE this morning. This details the steps the company is taking to right size the business, having attempted to grow too quickly in 2021, moves which added to the cost base and saw inventory ramped up. As a result of the decisive actions taken in the strategic review the company is now trading profitably and in line with revised guidance for FY23. H1 results and further details of the ‘pivot to profit’ will be released in early December.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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