Dixons hails ‘solid’ performance

CURRYS and PC World owner Dixons Retail today said it had outperformed its struggling rivals, despite further sales woe over the Christmas period.

The group, which has 640 stores in the UK and Ireland, reported a seven per cent fall in like-for-like sales in the 12 weeks to January 7, even though it was helped by a doubling in sales of iPads and Kindle devices.

Shares opened 10 per cent higher as the update was better than the City’s worst fears and included a 23 per cent rise in trading between January 4 and January 14 after its sales period was boosted by weak comparisons with the previous year.

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Chief executive John Browett described the group’s performance as “solid” and said it had outperformed rivals Comet, which was recently sold by parent Kesa Electricals for £2, and Best Buy, which has just thrown in the towel in the UK.

He said he was not able to give market share figures but added: “We are ahead of the market and you can see it in some of our competitors’ numbers.”

The electronics market has taken a massive knock from the squeeze in consumer spending in recent months, with retailers forced to put on a flurry of discounts.

Dixons said it had outperformed rivals with the help of strong online trading, demand for its click and collect service and its new Knowhow offering which sees it offer expertise to help customers install new technology.

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