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Dixons Retail sales fall over vital festive season

Microscope contributor

Dixons Retail today reported that sales over the peak Christmas period fell 2% and gross margins dipped 0.2%, dragging profits for the year to the bottom end of expectations of £100m to £110m.

It was a bleak mid-winter for the retailer, during the 8 weeks ended 8 January UK sales sank 4% with 2% of the drop blamed on the icy climate last month. International and e-commerce businesses slid 5% and 7% respectively, but the Nordics grew 11%.

"The adverse weather conditions reduced footfall in the run up to Christmas day," said Dixons chief executive John Browett.

Post-Christmas sales gained some momentum with deals on 3D TVs, Apple devices, tablets and white goods ahead of the 2.5% rise in VAT in the UK, the firm said.

In a standard statement for Dixons these days, Browett said: "We remain cautious about the economic outlook across our markets, but we will continue to deliver on our Renewal and Transformation plan," he said.

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