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UK electronics retailer DSG's sales fall

UK electronics retailer DSG's sales fall

DSG International PLC, Britain's largest consumer electronics retailer, Thursday said sales continued to fall over the last six months as consumer demand for computers, washing machines and other big-item home appliances dropped in the face of recession.
The company, which also has stores in 14 countries across Europe, said like-for-like sales fell 7 percent in the 24 weeks to Oct. 18. The company does not report money sales or profit figures in its half-year trading statements, and does not specify quarterly performance.
To combat the downturn, the owner of chains such as PC World and Currys said it would cut capital spending by 30 million pounds (US$49 million) this year.
"The trading environment continues to be tough," said Chief Executive John Browett, "we are very focused on managing through this by reducing costs and improving our cash position."
The market welcomed DSG's plan to slash spending, and shares rose 7.5 percent to 25 pence (US$0.41) in early trading in London.


Updated : 2021-10-23 22:04 GMT+08:00