Dixons reports strong sales growth in Q4
Dixons, the owner of Currys and PC World, saw a 7% increase in its group like-for-like sales in its fourth quarter as the electrical retailer benefited from the demise of UK competitors such as Comet.
In the quarter ending 30 April 2013, like-for-like sales growth in the UK and Ireland was 13% while in Northern Europe sales increased by 14%. The retailer said its Southern Europe business, which includes Italy, Greece and Turkey, had performed well despite challenging market conditions which resulted in like-for-like sales falling by 5%.
In the full year, group like-for-like sales rose by 4% with the UK and Ireland seeing growth of 7%. Sales increased by 12% in Northern Europe on a like-for-like basis, while Southern Europe recorded a fall of 8%.
Trading at the group’s Pixmania arm continued to be difficult with like-for-like sales down by 36% in the quarter and by 24% in the full year.
Never Miss a Retail Update!Dixons chief executive Sebastian James said: “This strong year puts Dixons in the best position it has been in for many years. We have worked hard to improve the conversation that we have with our customers and to improve our shops and our prices. This is paying off as customers increasingly choose us when they need electrical products, and – more importantly – tell us that they like what we are doing.
“We remain steadfastly focused on sorting out our businesses in more challenged markets and in particular Pixmania. Above all we are enjoying the feeling of a little wind in our sails and we want to make sure that, in spite of continued economic uncertainty, this carries on into next year and beyond.”
