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DNLMY - Dunelm: Strong Pre-Pandemic Sales Trend But Overpriced For Growth Prospects
Dunelm Group PLC ADR
U.K. homewares and furniture retailer Dunelm (DNLMY) has released its full-year results. They were fine, given the challenges of the recent operating environment, but I continue to think that the shares are overvalued.
Sales Fell But Margins Increased
The last four or so months of the period included the run up to lockdown, and lockdown, so it was to the company’s credit that sales for the whole year only slid by 3.9%. In the eight months to February, before COVID-19 started to have a big impact in the U.K., sales were up by 6.8%.