Currys owner scales back investment

Consumer electronics giant DSG today said it planned to cut capital expenditure by around £30m (€38.14m) this year as part of efforts to deal with deteriorating consumer confidence across Europe.

The move by the PC World and Currys owner came as it reported a 7% drop in like-for-like sales for the six months to October 18. The figure was in line with market expectations and included a 7% drop for the company’s UK & Ireland electricals business.