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Currys Owner in Need of Bumper Christmas
19/10/2007
DSG International, the owner of leading retailers Currys, PC World and Dixons, is sorely in need of some busy consumer spending this Christmas party season. The firm revealed today that profits over the last six months have fallen.
DSG are attributing the shortfall on the £20 million impact of promotions needed to clear stock at its PC World computing division. This followed hard on the heels of lower than expected demand for products linked to the new Windows Vista operating system. The disappointing sales figures have increased pressure on DSG ahead of the crucial Christmas party season, when it makes approximately half of its annual profits. The company said it was cautiously optimistic that its product pipeline and market leading position would "excite customers" in the weeks ahead. DSG described its UK market as "resilient" and said like-for-like sales at its Currys Digital arm rose 6% in the six month period. The group was re-branded as DSG International from Dixons Group in 2005 to reflect its growing overseas presence as it now operates in 27 countries. The Dixons brand has been re-invented to represent the company's Internet offering, and bosses are hoping that customers will be doing a lot of web surfing over the forthcoming Christmas party season.  Click here for more on London's best events and Christmas parties.
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