Dixons strongly ahead
Electricals retailer plans more international stores
September 11 2002
Dixons, the UK’s biggest electricals retailer, has made a strong start to its new financial year.
A trading statement reports sales in the 19 weeks to September 8 up 17 per cent on last year, with like-for-likes up six per cent.
Sales were initially boosted by World Cup as customers traded up to new TVs, and are now runing in line with expectations.
Dixons chairman Sir Stanley Kalms, delivering his last report before retiring as chief executive after a lifetime with the company founded by his father said: “Sales of TVs, DVDs, white goods and games consoles were strong and personal computers and mobile phones have shown encouraging signs of recovery.
“Gross margins have been lower largely as a result of product mix and lower mobile phone margins. While it is too early to extrapolate these trends for the balance of the year we look forward to a year of continued progress.”
Dixons also plans to opens two of its Electro World outlets in Prague, the Czech Republic before the end of the year. A second Electro World store will also open in Budapest, Hungary, and new PC City store opens in Milan, Italy, later this month. Dixons now operates in 11 European countries.
