Dixons cuts losses but sales slow

Currys and PC World parent Dixons Retail today predicted Christmas trading would be competitive and tough as it reported slowing UK sales growth.

Dixons said like-for-like sales in the UK and Ireland rose by 2% in the first half of its financial year, down from the 6% improvement reported in the first quarter following a World Cup-related boost to television sales.

But the group said it outperformed a tough market and slashed underlying losses in the half year, down from £16m (€18.9m) to £10.7m (€12.6m) in the UK and Ireland.

Dixons chief executive John Browett put faith in the group’s store overhaul project to help it through “an extremely competitive” festive season.

It has now refitted 250 stores, with 25 launched under the megastore format across the UK.