Electricals market leader Dixons, owner of Currys and PC World, reported a 4% fall in like-for-likes at its core UK business over Christmas.
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Full-year profits will now come in at the bottom of expectations and between £100m and £110m, partly as a result of the impact of icy weather which reduced sales in the UK by about 2%.
Group sales fell 2% like-for-like and in total in the 12 weeks to January 8, and chief executive John Browett said the performance had been “solid” in difficult conditions.
Sales at Dixons’ Nordic businesses rose 11% like-for-like and Italy was “better than expected”.
Ecommerce sales fell 7%, “principally as a result of the continued transfer of sales of higher value products to multichannel, which grew by 8%”.
Browett said: “The adverse weather conditions reduced footfall in the run-up to Christmas Day.
“We saw strong trading in the post-Christmas Sale as customers were keen to take advantage of great deals ahead of the rise in VAT in the UK.”
Browett was cautious about the economic outlook but said Dixons’ renewal and transformation plan continues to improve the business.