The Channel logo

News

By | John Oates 3rd January 2008 09:43

Dixons shares spanked after profit warning

Share price down a fifth

Dixons Store Group International saw its shares fall more than 20 per cent this morning after the company admitted Christmas trading had been poor.

DSG International told the London Stock Exchange today that trading was down one per cent on a like-for-like basis.

Group chairman Sir John Collins said: "Like for like sales were down one per cent reflecting generally weaker consumer environments across many of our markets. Overall trading for this important period, in which over half our annual profits are usually generated, has been disappointing, particularly in the UK, Italy and Spain.

"This weaker trading, together with a more cautious outlook for the balance of the year, means that we now expect full year profits before tax to be some £40m to £50m lower than current expectations."

UK computing sales were disappointing with laptops selling poorly in the run up to Christmas. Games consoles and digital photo frames were among the better selling items.

Online sales through Dixons.co.uk and FotoVista did much better - up 31 per cent.

DSG International is a major computer and electrical retailer and trades as Currys, PC World, PC World Business, and ElectroWorld, among other brands. ®

comment icon Read 20 comments on this article alert Send corrections

Opinion

frustration_anger_irritation_annoyance pain

Felipe Costa

Pressure to perform for stock market bearing down on disties
Columns of coins in the cloud

Michael Cote

Anything that simple to use has got to be complex to set up
Internet of Things

Gavin Clarke

This time, Larry's Oracle is going after the networking giants

Features

No email? No CRM? No Daily Mail iPad edition? You need a plan
Sinofsky's hybrid strategy looks dafter than ever
Failure to crack next-gen semiconductors threatens to set back humanity
SMEs get lip service - what they need is dinner at the Club