Wednesday 21 March 2018

Currys' owner gets 3pc boost in sales due to World Cup

Currys: TV sales rose in the run up to the World Cup. Photo: Bloomberg News
Currys: TV sales rose in the run up to the World Cup. Photo: Bloomberg News

John Mulligan

Sales of TVs in the run-up to the World Cup helped to boost like-for-like sales at Currys and PC World owner DSG International by 3pc in the three months to July 24, the retailer revealed yesterday.

DSG operates roughly 30 stores in Ireland and recently unveiled a new Dixons store at Dublin Airport.

Chief executive John Browett said that the group's UK business had performed particularly well in the period and described the overall revenue growth as an encouraging start to the year.

Mr Browett is staking DSG's future fortunes on a major revamp of its outlets in an effort to lure more customers amid a tough economic environment and increasing competition, primarily the impending onslaught from US giant Best Buy, which teamed up with Carphone warehouse to roll out Best Buy stores across Europe.

Mr Browett said yesterday that he remained hopeful that a double-dip recession could be avoided.

"In terms of the economic environment, we're not in the double-dip school, we don't see any evidence of that in the way that consumers are spending," he said.

DSG operates stores across Europe, but has been exiting some markets as it tries to realign its business.

DSG noted that like-for-like growth in the UK and Ireland was 6pc during the last quarter, while in the Nordic region it was flat. In other European markets, like-for-like sales were 1pc lower.

Last month DSG opened its first transformed store in Ireland, at Blanchardstown in Dublin, where it combined a Currys and PC World outlet into one 25,000 sq ft store.

The company, which will soon be renaming itself Dixons Retail, will also be opening a Dixons outlet in Dublin Airport's Terminal 2, which is due to be operational from November.

Shares in DSG were down slightly yesterday at just over 25p in London.

Irish Independent

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