Dixons maintains solid start in first quarter

City A.M. Reporter
Dixons, Europe's second-largest electrical retailer, maintained its solid start to the year with five per cent like-for-like sales growth in the first quarter, boosted by a busy summer of events in Britain.

The group, which also trades as Currys and PC World in the UK, Elkjop in Nordic countries, Unieuro in Italy and Kotsovolos in Greece, said today that sales at stores open at least a year were up five per cent in the 12 weeks to 21 July.

That compares with a rise of five per cent in the final quarter of the 2011-12 year.

Dixons, which makes just under half of its sales in Britain, said like-for-like sales in the UK & Ireland division were up seven per cent, having been up eight per cent in the previous quarter.

"While it is still early in our financial year, I am encouraged by the start we have made across the group," chief executive Sebastian James said in a statement.

"We have had a real boost from a busy summer of events in the UK and our Northern European operations continue to go from strength to strength."