logo
Plus   Neg
Share
Email

Dixons Retail 12-week Sales Rise, Sees Pre-tax Profit In Line With Market View

Specialist electrical retail and services firm Dixons Retail Plc. (DXNS.L) Thursday reported a 2 percent growth in total sales for the 12-week period ended January 5, with a like-for-like sales growth of 3 percent. Sales improved 4 percent at local currency.

Looking ahead to the full year, the company expects underlying profit before tax to be in line with market view of 75 million pounds to 85 million pounds.

In UK & Ireland, total sales increased 7 percent both in Sterling and local currency. On a like-for-like basis, sales rose 8 percent from last year. Northern Europe continued its strong performance, with like-for-like sales improving 11 percent for the 12-week period.

In Southern Europe, comprising Italy, Greece, Turkey, like-for-like sales dropped 8 percent from the previous year.

Sebastian James, chief executive of the company stated, "Our key multi-channel businesses delivered an encouragingly strong result during the Christmas period, particularly in the UK & Ireland and in Northern Europe."

Meanwhile, its single-channel business PIXmania had a poor period impacted by ongoing restructuring of the business, in addition to significant negative trends in its main markets. However, Dixons noted that progress continues on the restructuring plan to improve financial position of the business.

Group gross margins were down 0.5 percent, driven mainly by product mix.

In London, Dixons Retail shares are currently trading at 27.36 pence, up 0.90 percent, on a volume of 21.21 million shares.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

More Breaking News

0 Articles
Editors Pick
Walmart is ditching its dress code policy and is testing a new dress code that will allows "associates" to wear blue denim and shirts of any solid color. The updated dress coded guidelines now allow employees to wear blue "jeggings" and blue jeans and shirts of any solid color, according to a Walmart... Canadian investment firm Fairfax Financial Holdings Ltd. has submitted a "stalking horse" bid worth C$300 million, or $237 million, for the Canadian unit of Toys "R" Us, according to court documents. A stalking horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on its assets. The car rental market in the U.S. is consolidating as large car rental companies are buying smaller, local companies to expand their portfolio of premium and value brands. The key players in the U.S. market include Enterprise Holdings, Hertz Global Holding and Avis Budget Group. Let's take a look at some of the best and worst car rental companies in the U.S.
Follow RTT