Dixons sales drop but says recovery plan on track
Electricals retailer Dixons said today its recovery plan was on track despite a full year sales drop.
Total Underlying Group sales were down two per cent to £8.154bn compared to £8.32bn in the previous year
Total Group sales, including those from businesses to be closed and closed businesses, were £8.341bn (2009/10 £8.532bn).
Group like for like sales were down four per cent in the second half and down two per cent in the full year.
The company also said finance director Nicholas Cadbury has resigned from the Board in order to take up the role of Chief Financial Officer at Premier Farnell.
Humphrey Singer will be appointed Group Finance Director from 1 September 2011 following a handover period.
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He joined Dixons Retail in 2007. He has held various finance roles since then including Finance Director of Currys, Group Financial Controller and most recently as finance director of the UK & Ireland division. Prior to joining Dixons Retail Humphrey was Finance Director of Coca Cola Enterprises.
He also also held a number of finance roles at of Coca Cola Enterprises and Cadbury Schweppes.