Wednesday, September 7, 2011

Dixons Retail Sees Unemployment In Sales

Electrical products definite Dixons Retail has reported a pointy drop in sales, quite in the UK and Irish Republic.

Like-for-like sales fell by 7% in the 3 months to 23 July compared with a year earlier. Total sales fell by 1%.

The definite mentioned it had suffered from difficult comparisons with the same time in 2010, that saw burly sales due to the football World Cup and iPad launch.

The tradesman mentioned the trade mood remained "fragile".

Figures published on Tuesday by the British Retail Consortium referred to UK sell sales fell in August, as feeble consumer certainty and high acceleration undermined High Street spending.

Like-for-like sales at Dixons in the UK and Irish Republic fell by 10%, and by 9% on a complete sales basis. Profit margins moreover fell slightly.

However, sales in the retailer's Nordic business rose by 4% on a like-for-like basis.

Despite the on the whole drop in sales, arch senior manager John Browett mentioned the company had "outperformed its competitors during the quarter" and had "exited the time in great shape".

He updated that the company had done "good growth on cost reductions" and would right away make extra savings of 60m this financial year - 10m more than formerly forecast.

He mentioned the definite was on follow to encounter its full-year forecasts.

Dixons done a pre-tax loss of 224.1m is to year to April, after receiving in to account a few considerable well-developed items.

It took a 309.4m spoil assign after shutting operations in Spain and essay down the worth of its Greek arm and its online business Pixmania.

Excluding the charge, the firm, that owns Currys and Personal Computer World, done increase of 85.3m.

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