Bleak forecast for Dixons

Electrical retailer Dixons today warned that its financial results this year would fall below expectations after seeing disappointing Christmas sales.

The group said sales in December fell below expectations, principally because of weaker sales of games consoles, audio products and extended warranties.

Chairman John Collins said: “Trading in the UK over the Christmas period has been below our forecasts.

“With an increasingly uncertain economic outlook and consequent risk to consumer confidence, we are cautious about the near term outlook for our markets.

“We therefore expect that the results for this financial year will be below current market expectations.”

The group’s financial year runs to the end of April.