Currys and PC World owner Dixons sees sales fall 5%

The owner of Currys and PC World, Dixons Retail, has reported a drop in sales over Christmas.Currys and PC World owner Dixons sees sales fall 5%In a trading update, the firm said like-for-like sales fell 5% in the 12 weeks to 7 January, although analysts had expected a larger drop.

In the UK and Irish Republic, like-for-like sales – which exclude new store openings – were down 7%.

Chief executive John Browett called the result a “solid performance” with consumer confidence still “fragile”.

He added that Dixons – which operates 640 stores in the UK under its various brands – would take a “cautious approach” in the year ahead.

The company said last year’s VAT rise had distorted figures for the sales period in the New Year.

Like-for-like sales were up 2% in the two weeks to January 14 and 23% from January 4 to 14.

Dixons, which also runs Elkjop in Nordic countries, UniEuro in Italy and Kotsovolos in Greece, said margins across the group were flat year on year.

Online sales have become increasingly important for the business and now makes up 19% of sales across the group.

February 10, 2012 · Home Based Jobs · Comments Closed
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