Dixons sales slide
Dixons, Europes second largest electrical retailer, said it continued to expect profit for the year to 30 April to reach £85 million which was in line with the guidance given its profit warning at the end of March.
Like-for-like sales for the group had dropped 4% in the 28 weeks to 30 April, with the UK and Ireland down 7%. In contrast, like-for-like sales for the same period in Scandinavia had risen 9%.
The company which owns Currys and PC World said that it did not expect to see an imminent improvement with sales likely to fall in the first three months of the current financial year.
John Browett, Chief Executive, commented: "With challenging economic headwinds continuing for many of our customers, we remain cautious on the outlook for the year ahead. Having had a strong World Cup performance as well as the exclusivity of the iPad last year, we have tough comparables ahead. However, through our Renewal & Transformation plans, our businesses are well placed to emerge from the current weak consumer environments ahead of our competitors.”
He continued: “Having made further good progress on the Renewal & Transformation plan, we continue to deliver significant improvements for our customers, notably this year through the launch of our service brand KNOWHOW, but also through our improved shopping trip and refitting of stores, particularly in the UK. We will continue to lead the market in delivering a better shopping trip for customers and stronger business performance for shareholders."
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