DSGi may be forced to close as many as 200 of its UK stores after announcing that its profits were likely to be down as much as £50 million, a senior retail analyst has predicted.Tony Shiret, Credit Suisse's senior retail analyst, predicted that the group's new chief executive, John Browett, may be forced to close nearly a third of its UK stores.
"Within the DSGi restructuring that we anticipate following the appointment of the new chief executive, we anticipate material UK store closures – possibly as many as 200 of the group's 700 UK store base."
Shiret, however, was keen to stress that he believes that Browett is likely to continue to focus on the UK as DSGi's key territory.
Although he cautioned that Browett's plans are still largely unknown due to the limited length of time he has been at the firm, he did suggest that: "His main areas of focus are likely to include revitalising Italy, growing the focus on the internet and improving customer-service levels."
A spokeswoman for DSGi, however, dismissed the marks as "supposition," adding that: "It is speculation on Credit Suisse's part."
Advertisement
Related Stories
- HP Folio 13-1000 ultrabook a DSG exclusive Feb 8th 2012 at 6:06AM
- Apple hires former CEO of Dixons Feb 1st 2012 at 10:31AM
- Dixons UK and Ireland sales drop 9% Sep 7th 2011 at 1:01PM
- Dixons to open concession in Harrods Jul 28th 2011 at 1:09PM
- Samsung Galaxy Tab 10.1 goes on sale next week Jul 26th 2011 at 8:38AM
- Dixons Retail to offer after-care May 26th 2011 at 7:11PM
- Currys claims Mystery Shopper crown Apr 5th 2011 at 12:12PM
- Dixons issues profit warning Mar 30th 2011 at 1:07PM
- Currys offers 5% off iPad Feb 15th 2011 at 12:57PM
Follow Follow this article if you would like to receive notifications of updates.
Add a new comment
You need to be logged in to post comments. If you do not have an account then please register.
Comments
0 comments
There are no comments yet, be the first to add one!