Currys owner victim of festive spending squeeze

The festive spending squeeze claimed its first major casualty today after Currys owner DSG International warned it would miss profit hopes.

DSG, which also operates Dixons.co.uk, said disappointing trading in the UK, Italy and Spain would leave annual profits up to £50m (€67.2m) below expectations.

It reported lower demand for laptops, while margins were impacted by the need for promotional activity to drive sales of flat panel televisions and other electrical items.