Category: Dixons Retail

The chief executive of Dixons, John Browett, is leaving Dixons to move to to head up Apple’s worldwide retail chain of Apple stores.

Reuters reports Dixons Retail has said it outperformed high street rivals Argos and Comet over Christmas without the need to drop its prices.

Moody’s has today affirmed the B1 long-term ratings of Dixons Retail plc, including its corporate family rating, probability of default rating and senior unsecured rating. The outlook is changed from stable to negative.

Bloomberg reports that Dixons Retail rose the most five months in London trading after reporting a smaller first-half loss than analysts had estimated and an improving sales trajectory.

Associated Press reports that faltering demand for ‘big-ticket’ electrical items will be measured this week when Dixons Retail posts results.

The Gaurdian reports this morning that Dixons has been forced to cut costs in the face of falling sales and weakening margins as shoppers apper to have stopped spending on electrical goods.

Dixons is cutting more costs and trimming investment plans to counter a drop in sales and profit margins as shoppers rein in spending in the face of rising prices and government austerity.

Dow Jones in a recent article have specualted that flagship retail assets such as Dixons Retail and Carphone Warehouse might attract foreign predators which comes as a bit of a surprise but, when you think about it, it’s not such a crazy notion.

Dixons Retail has revealed plans to slash £150 million off costs after spectacularly crashing into a massive £224 million loss.

Dixons Retail, the owner of the Currys and PC World brands, reported that sales for the group had fallen 2 per cent for the year to April 30. However, chief executive John Browett confirmed that underlying group profit would be approximately £85 million (Dh505.45 million) for the year when …