Electricals group Dixons, owner of Currys and PC World, has posted a 7% fall in group like-for-like sales but will meet full-year profit expectations
In Dixons’ core UK and Ireland business, like-for-likes fell 10% and total sales slid 9% in the 12 weeks to July 23. The update was as anticipated.
Chief executive, John Browett, said: “This performance was in line with our expectations when compared with particularly strong trading last year as a result of the World Cup and launch of the iPad.
“While underlying market conditions have remained challenging we have continued to trade ahead of our markets as customers respond to our improving customer offer.
“I am particularly pleased with the significant and ongoing improvements we have seen in customer satisfaction measures in the UK which demonstrate the success of our renewal and transformation plan, as well as our continued strong trading in the Nordics. We remain on track for full year expectations.”
The retailer reported that group gross margins were down 1% year-on-year, mainly because of initiatives to gain market shares in Scandinavia and other international markets, as well as clearance promotions.
Like-for-like sales in Dixons’ Nordic markets rose 4% in the period. Pureplay ecommerce sales plunged 16%.