Dunelm, Distil and Mulberry

“Blue-chips opened in negative territory with traders looking to UK manufacturing, construction and industrial production data mid-morning and the latest US jobs report this afternoon following a lower-than-expected rise in private sector payrolls earlier this week,” says AJ Bell Investment Director Russ Mould.

“Home furnishing group Dunelm led the FTSE250 index in early trading after strong fourth quarter update. Like-for-like sales rose by 3.8% and the group continues to take market share. Dunelm currently generates around 20% of its sales online and the acquisition of Worldstores will give a massive fillip to this part of its business and consolidate the group’s position as a significant e-commerce player in homewares. Dunelm’s shares were up by more than 2.6%.

“Premium drinks group Distil was a double-digit riser after further strong growth in sales volumes and revenues during the first quarter to the end of June. Revenues rose by 61% and volumes grew by 81%. This largely reflected a 136% increase in Blavod Black Vodka licensed sales, mainly through Eastern Europe and Duty Free. Distil remains cautious about this region due to the volatility over recent years but it has seen the sixth month of strong, continuous growth with the cumulative calendar year tracking 106% up year on year. Distil’s shares were up by over 12.1% in early trading.

“Luxury handbag maker Mulberry edged up after it signed an agreement to set up a 50:50 joint venture with Onward Global Fashion Co. The new joint venture will operate Mulberry’s business in Japan and advance its strategy of directly participating in key international luxury markets while it continues to refine its positioning in the UK. Mulberry’s shares were up by 0.19%.”

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