Dunelm hurt by Worldstores losses

Dunelm hurt by Worldstores losses

These were disappointing half-year figures from Dunelm (DNLM), reflected in an 8 per cent fall in underlying profits. This was worse than analysts’ expectations, but largely the result of the recent Worldstores acquisition taking longer to integrate than first thought. Indeed, what Dunelm calls its “core business” is holding up well in a difficult market, with like-for-like sales up 3.5 per cent in its stores segment, and an even stronger performance from, which recorded 37 per cent sales growth. But the consolidation of trading losses across the Worldstores business is proving to be a drag on the wider group. Cash profits fell 2 per cent year on year to £79.1m.  

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