Dixons records Christmas sales drop of 5%

Currys PC World

Dixons, owner of Currys and PC World, recorded a 5% drop in sales over Christmas.

In a trading update, the firm said like-for-like sales fell 5% in the 12 weeks to January 7th, 2012. In the UK and Ireland, like-for-like sales were down 7%. Analysts had predicted a sharper fall.

Online has become increasingly important for the business and now makes up 19% of sales across the group.

Chief executive John Browett called the result a "solid performance" with consumer confidence still "fragile".

He added that Dixons – which operates 640 stores in the UK under its various brands – would take a "cautious approach" in the year ahead.

Electrical retailers have had a tough time of late, with Best Buy announcing in November that it would close its UK stores, and Comet was sold by its parent Kesa Electricals to a private equity group for £2.

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Andy Clough

Andy is Global Brand Director of What Hi-Fi? and has been a technology journalist for 30 years. During that time he has covered everything from VHS and Betamax, MiniDisc and DCC to CDi, Laserdisc and 3D TV, and any number of other formats that have come and gone. He loves nothing better than a good old format war. Andy edited several hi-fi and home cinema magazines before relaunching whathifi.com in 2008 and helping turn it into the global success it is today. When not listening to music or watching TV, he spends far too much of his time reading about cars he can't afford to buy.