It has been a good start to the final trading session of the shortened week for the home wear specialists Dunelm. A quarterly trading update showed a resilient performance and whilst management are cautious over the broader macroeconomic backdrop, sales advanced 6.3% year on year and margins continue to improve, too. Full year targets remain very much on track and the Dunelm share price was almost 6% higher shortly after the open.
Keeping with UK retail and shareholders responded well to full year numbers from grocers J Sainsbury. Revenues added 4.2% but pre-tax retail profits were 7.2% higher and this, combined with the recent disposal of the banking division has left management committing to return £450m to shareholders by way of a buy back and special dividend. Whilst there’s no sign of a margin squeeze, the next year’s performance is expected to be in line with what has been posted today and the Sainsbury share price was around 3% higher in early trade.
Shares in small cap cosmetics firm Revolution Beauty have been in the spotlight this morning after it was announced that the CEO is standing down at the end of May, having secured a new role in the US. However, the company’s share price performance has been far from stellar, currently sitting some 95% down from the 170p market debut in 2021. The Revolution Beauty share price had sold off by as much as 4% in early trade, although losses proved to be short lived.
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Final Results - - Sainsbury (J) (SBRY)
