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DSG like for likes drop

Like for like sales were down 4 per cent in the 24 weeks ended 17 October

CITY & CORPORATE

DSG like for likes drop


UK & Ireland Electricals total sales were down 8 per cent at £1,044.9 million (2008/09 £1,138.1 million) with like for like sales down 9 per cent. First half underlying operating loss was £23.2 million (2008/09 loss of £22.3 million).

PC World, DSGi Business and The TechGuys total sales were down 17 per cent at £580.8 million (2008/09 £696.0 million) with like for like sales down 15 per cent. Underlying operating profit was £7.2 million (2008/09 £11.7 million).

International sales (Italy, Greece, Spain, Turkey, Czech Republic and Slovakia) total sales declined by 11 per cent at constant exchange rates and by 3 per cent in sterling to £586.0 million (2008/09 £603.7 million), with like for like sales down 5 per cent. Underlying operating loss was £7.7 million (2008/09 loss of £16.7 million).

John Browett, Chief Executive commented "We continue to make rapid progress with our Renewal and Transformation plan to offer an unbeatable combination of Value, Choice and Service for customers.  Our turnaround is on track and customers are responding well to the significant changes we are making.  We have seen improving trends in a number of our businesses, particularly in recent weeks.  While we are cautious about the outlook for 2010, we are well-positioned as we enter into Peak trading with compelling offers for customers."

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