Dixons Retail posts rise in Christmas sales

Dixons Retail, Europe's second largest supplier of electrical goods, posted on Thursday a rise in Christmas sales as consumers stocked up tablet devices and home products.

The parent company of Currys and PC World chains in Ireland and Britain, said like-for-like sales in key businesses were up 7.0% for the 12 weeks to January 5th.

The group experienced the biggest growth in Northern Europe with an 11% increase in like for like sales, followed by an 8.0% rise in the UK and Ireland.

Dixons expects full-year underlying profit before tax to be in line with market expectations between £75m to £85m.

Chief Executive Sebastian James, said the key multi-channel businesses delivered strong results over the holiday season.

"Customers continue to respond to our excellent range of products, compelling offers, seamless approach to multi-channel and improving service levels, and we continue to benefit from capacity exiting these markets," he said.

He said businesses traded ahead of weak markets in Italy and Greece thanks to 'phenomenal' sales of tablets and home goods.

However, sales in the company's e-commerce site PIXmania were disappointing, he said. That, despite a climb in online sales across other UK retailers including John Lewis.

The company is in the process of restructuring the site to place the business in a better financial footing.

"In the year ahead, while we will manage our cost base cautiously, we see many opportunities to improve the overall performance of our group through further developments in our service offer for customers, sharing best practice, controlling costs and focusing on multi-channel growth," James said.

Shares fell 1.66% to 26.66p at 8:34 Thursday.

RD