Dixons Retail has hinted at a tough Christmas after announcing heavy losses in its interim financial results.
The group, which owns PC World and Currys, made a pre-tax loss of £7.9 million in the 24 weeks to October 16th. While significant, it is less than half the retail giant’s £17.6 million loss in the same period last year.
Dixons chief executive John Browett said that the group was “not expecting an easy Christmas”.
“If you think electricals and computing is a nice easy business you’ve got another thing coming,” he commented in a webcast following the announcement of the results.
In the UK and Ireland, losses were reduced by £5.3 million to £10.7 million, and like-for-like sales were up six per cent in the first quarter thanks to World Cup promotions and the iPad launch.
Internet sales now make up 16 per cent of the group’s business, but Dixons executives were dismissive of e-tail giant Amazon in their webcast this morning.
“Amazon have their own trouble… the core categories which they built their business around are disappearing fast.
“In electricals and computing… they’re having to run very fast to stand still,” they said.