DSGi shares fell very slightly this morning after the company said trading had held steady in the three months ended 24 July.

The retailer grew sales by three per cent thanks to strong sales of big tellies in the run up to the football World Cup and an exclusive deal on early iPad sales. It said market share grew in the UK and gross margins across the group were up 0.1 per cent.

The group, which is in the midst of doing up its stores, said Nordic sales were flat and e-commerce sales were up three per cent.

The company finished 43 stores during the quarter and now has 200 completed. A partnership with Phones4U should have 50 stores up and running for Christmas. The group has also rejigged its debt.

DSG International, which you might know as Dixons, will now be called Dixons Retail plc after its latest round of re-branding - innovative work there from the strategy boutique.

Group Chief Executive John Browett said it was an encouraging start to the year given the challenging conditions.

The full market update is here. ®