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Dixons to close more stores despite sales boost

Dixons will close more stores than expected in an effort to make necessary cost savings over the next two years.

Dixons will close more stores than expected in an effort to make necessary cost savings over the next two years.

Dixons Retail, which owns Currys and PC World, looks set to reduce the number of stores from 557 to around 400 – despite a recent rise in sales.

Like-for-like sales were up 8% in the last quarter of the financial year, despite following a 5% drop in sales over the Christmas period.

The news, reported by Proactive Investors and picked up by The Next Web, sees the company continuing its Renewal and Transformation Plan.

The company had already shut around 80 shops but now looks set to close more in order to make cost savings of over £90m in the next two years.

Shares in the company rose 5 per cent to 16.8 pence on the news.

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Joe Cox

Joe is Content Director for Specialist Tech at Future and was previously the Global Editor-in-Chief of What Hi-Fi?. He has worked on What Hi-Fi? across print and online for more than 15 years, writing news, reviews and features. He has covered product launch events across the world, from Apple to Technics, Sony and Samsung, reported from CES, the Bristol Show and Munich High End for many years, and provided comment for sites such as the BBC and the Guardian. In his spare time he enjoys mixing vinyl and cycling.