It’s a week for retailers, with both Tesco and Sainsbury reporting on Wednesday. The battle of the “big four” is intensifying as the consumer comes under more and more pressure. They are always looking for the best deal and the supermarkets have to heavily discount in order to attract shoppers through their doors. Capital CFDs quotes 274.4-275.1 for Sainsbury and 372.3-372.9 for Tesco.
Dunelm Group announced a 9 per cent increase in profits on Monday, as cash-strapped consumers turn to their more affordable wares. Their shares added 3 per cent to 484p, but failed again to take out near ten-month highs and resistance at 485p. This may be a good area to take some profits or sell short as Dunelm will continue to face increasing competition from the like of M&S and Next. Spread Co offers a spread on Dunelm Mill of 482.8p-486.2p.